Corcel Exploration

Investor Insight

Corcel Exploration is advancing the Yuma King project in Arizona, where a Phase 1 drill program has commenced following permitting and geophysical work. The company is systematically testing a past-producing copper-old system with established skarn mineralization and indicators of a potential buried porphyry.

Overview

Corcel Exploration is a mineral exploration company focused on copper, gold and critical minerals in North America. Its flagship Yuma King project is located in Arizona’s Ellsworth Mining District, a historically productive region that has been largely inactive for over 70 years.

The company is leveraging an extensive dataset from historical drilling, surface sampling and geological mapping, combined with modern exploration methods including geophysics, geochemistry and integrated data interpretation. This approach supports systematic target generation and prioritization across the property.

In 2026, Corcel advanced into an active exploration phase, having received permitting approval, conducted an induced polarization (IP) survey and commenced a Phase 1 drill program. These programs are designed to validate historical results, expand known mineralization and test new targets identified through recent work.

Corcel is supported by Inventa Capital and led by a team with experience in mineral exploration, development and capital markets, providing the technical and financial capability to execute its exploration strategy.

Company Highlights

• District-Scale Land Position: 3,200-hectare property comprising 515 unpatented mining claims in Arizona’s Ellsworth Mining District.
• Past-Producing Mine: Approximately 8,600 tons of ore historically produced at 2.3 percent copper, with gold and silver credits.
• Established Mineralization: Copper-gold skarn and replacement mineralization confirmed through historical mining and drilling, open in multiple directions.
• Porphyry Potential: Geological, geochemical and drilling data indicate a potential buried copper-molybdenum-gold porphyry system.
• High-Grade Surface Results: Rock samples returning up to 17.15 g/t gold and 11.6% copper.
• Historical Exploration Base: Approximately US$4.5 million in prior exploration and drilling.
• Critical Minerals Presence: Tungsten and graphite identified and designated as U.S. critical minerals.
• Active Exploration Program: Phase 1 drill program (~1,500 m) commenced, supported by an induced polarization (IP) survey conducted with results being interpreted.
• Permitted for Advancement: BLM bond approval received, enabling drilling and site activities.
• Strategic Location: Access to roads and rail, and proximity to one of only three US copper smelters.
• Strategic Support: Backed by Inventa Capital.

Key Project

Yuma King

The Yuma King copper-gold project is a 3,200-hectare property located approximately 150 km northwest of Phoenix in west-central Arizona. The project comprises 515 unpatented mining claims and includes the past-producing Yuma Mine, which operated intermittently from the 1940s to the 1960s.

Historical production from the Yuma Mine totaled approximately 8,600 tons of ore grading about 2.3 percent copper, with additional gold and silver values. Historical estimates indicate an inferred oxide copper resource ranging from approximately 358,000 to 537,000 tons grading 3.03 percent copper.

Mineralization is primarily characterized by copper-gold skarn and replacement systems hosted in carbonate rocks, with mineralization remaining open in multiple directions. Historical drilling intersected intervals including 45.4 metres grading 0.78 percent copper, 0.53 g/t gold and 6.3 g/t silver.

Geological, geochemical and drilling data also indicate the potential for a buried copper-molybdenum-gold porphyry system. Drillhole YK-02B1 intersected 120.4 metres grading 753 ppm copper and 184 ppm molybdenum. Recent work, including 2,263 soil samples and 303 rock samples, defined a 1.2 km Cu-Au-Mo anomaly and returned rock values up to 17.15 g/t gold and 11.6 percent copper.

Management Team

Jon Ward – CEO & Director

Jon Ward is a finance and investor relations professional with experience in mining and business services. He serves as head of investor relations and corporate communications for Inventa Capital and Vizsla Silver, and as VP corporate development of Targa Exploration.

Grant Tanaka – CFO

Grant Tanaka has over 15 years of financial leadership experience in the mining industry and was appointed CFO in 2026. He has held senior roles with Teck Resources, New Gold and Copper Mountain Mining, and also serves as CFO of Vizsla Copper Corp and Vizsla Royalties Corp.

Thy Truong – Director

Thy Truong is a Chartered Professional Accountant with experience in financial reporting and governance. She was appointed to the board in 2026.

Lee Beasley – VP Exploration

Lee Beasley is a professional geologist with over 20 years of experience across porphyry, VMS, epithermal and intrusion-related systems. He has held senior roles with SSR Mining, K2 Gold, Blackwolf Copper and Gold, and Piedmont Lithium.

Dr. Jesus Velador – Director

Dr. Jesus Velador is an economic geologist with over 25 years of experience in epithermal, skarn and porphyry systems. He is currently VP Exploration at Vizsla Silver and previously served as director of exploration at First Majestic.

Dr. Roy Greig – Advisor & Qualified Person

Dr. Roy Greig is a porphyry copper systems specialist with over 15 years of experience. He previously served as VP Exploration at Amarc Resources and has worked on projects across the Americas.