Mr. Merlin Marr-Johnson reports

FITZROY MINERALS RAISES OVER C$1.95 MILLION THROUGH FULL EARLY EXERCISE OF WARRANTS

Holders of 100 per cent of the warrants issued in connection with Fitzroy Minerals Inc.'s private placement closed on Oct. 16, 2024, have elected to exercise their warrants early, prior to the Oct. 16, 2026, expiry date.

Campbell Smyth, chairman of Fitzroy, commented: "We are grateful for the strong endorsement from our shareholders and the extra funding as we enter into a particularly catalyst-rich period for the company. In the coming months, we will publish a maiden mineral resource estimate and preliminary economic assessment for the Buen Retiro copper project. We also anticipate announcing the start of drilling at the Caballos copper project soon. It is an exciting time for Fitzroy Minerals."

A total of 7,804,036 warrants and finder warrants were originally issued as part of the private placement, with each warrant exercisable to purchase one common share of the company at an exercise price of 25 cents per share for a period of two years from the closing of the private placement. All warrants and finder warrants have been exercised, generating proceeds of approximately $1,951,009 for Fitzroy Minerals.

The proceeds from these warrant exercises strengthen the company's financial position. Fitzroy Minerals is now well positioned to efficiently advance its work programs at the Buen Retiro copper project located near Copiapo, Chile, and the Caballos copper project located in Valparaiso, Chile.

About Fitzroy Minerals Inc.

Fitzroy Minerals is focused on exploring and developing copper assets with substantial upside potential in Chile. The company's two lead properties are the Buen Retiro copper project, located near Copiapo, Chile, and the Caballos copper project, located in Valparaiso, Chile. Fitzroy Minerals' shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under the symbol FTZFF.

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