Mr. Jay Chmelauskas reports

CAMINO TO COMMENCE DRILLING AT ITS LOS CHAPITOS COPPER PROJECT IN PERU; PERU'S MINISTRY OF ENERGY AND MINES NAMES LOS CHAPITOS AMONG TOP 15 PRIORITY EXPLORATION PROJECTS

Camino Minerals Corp. has mobilized drilling equipment to commence the discovery drilling campaign at its Los Chapitos copper project in Peru. The 2025 exploration campaign with Camino's partner, Nittetsu Mining Co. Ltd., resulted in the identification of several prospective drilling targets. The drilling campaign will focus on two main objectives: discovering new copper-silver deposits in newly identified and undrilled targets, such as Mirador, Piloto, Maqui and Sombrero Blanco, where notable copper occurrences have been found with high copper and silver values, according to geochemical results of rocks in trenches, and extending known mineralization in the previously drilled Adriana, Lourdes and Katty (Enjambre) zones.

Highlights:

• The latest results of trenching at the targets to be drilled showed:
  • Mirador: 129 metres at 0.98 per cent copper and 20.59 parts per million silver (including 90 m at 1.07 per cent Cu and 20.98 ppm Ag, 12 m at 2.07 per cent Cu and 60.63 ppm Ag, and 26 m at 1.30 per cent Cu and 28.96 ppm Ag);
  • Piloto: 12 m at 2.3 per cent Cu and 21.13 ppm Ag;
  • Maqui: seven m at 4.3 per cent Cu and 25.5 ppm Ag;
  • Enjambre: 18 m at 1.57 per cent Cu and 11.35 ppm Ag;
  • Adriana: 15 m at 0.75 per cent Cu and 9.46 ppm Ag;
  • Lourdes: six m at 2.80 per cent Cu and 31.55 ppm Ag;
  • Sombrero Blanco: 25 m at 0.52 per cent Cu and 3.00 ppm Ag;
• Copper mineralization is associated with copper oxides and sulphides hosted in intrusive and volcanic rocks;
• Strong positive correlation between copper and silver mineralization;
• Drilling is planned to begin the first week of November, 2025;
• Los Chapitos selected by Peru's Ministry of Energy and Mines (MINEM) as one of 15 priority exploration projects.

Los Chapitos is Camino's exploration copper project with its partner, Nittetsu, which is earning a 35-per-cent interest upon completing a total investment of $10-million (see news release dated June 14, 2023). Rio Tinto, a major copper producer, recently staked claims adjacent to Los Chapitos (see news release dated May 17, 2024). Camino is also advancing its mine development project, the construction-ready Puquios copper project, with Nittetsu in Chile (see news release dated April 17, 2025).

"Los Chapitos has been recognized by Peru's Ministry of Energy and Mines to advance strategic mineral exploration in 2025 and 2026 to meet the national Peru Explora initiative. Indeed, we are also getting noticed by major mining companies like Rio Tinto that have staked ground adjacent to Los Chapitos," commented Jay Chmelauskas, chief executive officer of Camino. "Our Los Chapitos exploration drilling campaign is set to start in November in Peru while we get our finance package in place for the construction of our Puquios copper mine in Chile."

"Drilling at Los Chapitos follows intensive geological fieldwork, including geological mapping, sampling of soil and rock, and mechanized trenching at targets located within the Diva and La Estancia trends this year," said Orlando Pariona, lead geologist at Camino. "This has allowed us to identify targets with the greatest potential for extending and/or discovering additional Cu-Ag mineralized bodies."

Los Chapitos drill campaign

The objective of this drilling campaign is to cut mineralized breccias and copper mantos that have been identified on the surface through detailed mapping and mechanized trenching to search for continuity and extension at depth and validate the high copper and silver grades observed at surface. The program will commence with approximately nine drill holes consisting of 1,200 metres and is expected to expand to over 3,000 metres with the next $1.5-million Nittetsu investment tranche anticipated in December, 2025.

The drilling targets are located along the Diva and La Estancia trends, where the latest exploration work has demonstrated high-grade copper potential at Los Chapitos (see news releases dated June 17, 2025, and July 16, 2025). The targets in the Diva trend will be Mirador, Adriana, Katty (Piloto, Maqui and Enjambre) and Lourdes. Sombrero Blanco is along the La Estancia trend and is a high-priority target once certain drilling permits are obtained.

This new program builds on the results obtained during the drilling campaigns from 2017 to 2023, which confirmed the presence of high-grade copper mineralization in volcanic rocks of the Chocolate formation, particularly in the Adriana, Lourdes and Enjambre sectors. Based on these results, Camino's geological team has developed detailed 3-D models of the mineralized system, based on high-resolution structural and lithological mapping.

Los Chapitos is in a strategic location with road access, infrastructure availability and proximity to the Pacific coast, offering significant logistical advantages for the future development of the project. Excavators and drilling rigs will be mobilized to Los Chapitos during October, 2025, to prepare drilling pads for the start of drilling in November.

The drilling target expressed in this release is conceptual in nature. The target has had insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.

Los Chapitos project update

The Los Chapitos project has been selected by Peru's Ministry of Energy and Mines (MINEM) as one of 15 priority exploration projects within the national initiative "Peru Explora: Actions to Drive the Advancement of Strategic Mineral Exploration Projects 2025-2026."

Since July, 2025, MINEM has been holding technical working meetings with the companies leading Peru's key exploration projects. The goal of this initiative is to facilitate permitting processes, attract new exploration investment, and strengthen a sustainable portfolio of projects with both regional and national impact.

In September, 2025, Camino participated in a work session at MINEM with representatives from the Directorate of Mining Promotion, the Directorate of Environmental Mining Affairs and the General Directorate of Mining, reaffirming its commitment to advancing responsible and sustainable mineral exploration in Peru.

About Camino Minerals Corp.

Camino is a discovery- and development-stage copper exploration company. On Oct. 7, 2024, Camino signed a definitive agreement to purchase the construction-ready Puquios copper mine in Chile. Camino is focused on developing copper-producing assets such as Puquios and advancing its IOCG (iron oxide copper-gold) Los Chapitos copper project located in Peru through to resource delineation and development and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its National Instrument 43-101 resources. In addition, Camino has increased its land position at its Plata Dorada copper and silver project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper-intensive global economy.

Jose A. Bassan, MSc, geologist, an independent geologist, FAusIMM, CP No. 227922, a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data. Mr. Bassan has verified the data through site visits, inspection of drill core, review of original assay certificates and confirmation of quality assurance/quality control protocols. No limitations were encountered during the verification process, and the data are considered reliable for the purposes of this disclosure.

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