Mr. Hendrik van Alphen reports

GELUM COMPLETES FURTHER SAMPLING OF LAS TINAJAS GOLD PROJECT, NORTHERN MARICUNGA BELT, CHILE

Gelum Resources Ltd. has completed additional rock geochemical sampling at the Las Tinajas gold project, covering 2,600 hectares in the north end of the Maricunga gold belt, Chile. Las Tinajas is located 120 kilometres northeast of Copiapo, in the Atacama region of northern Chile. The work has expanded exploration targets and identified new mineralization where gold and/or copper may occur below thin postmineral cover.

In addition, the property-wide VIP-MT geophysical survey is now half completed with electrodes installed on the eastern portion of the property.

Henk van Alphen, chief executive officer, states that: "We knew when we acquired Las Tinajas that there was a serious zone of mineralization, given the past drill results in the middle of the property. However, with the results of the rock chip sampling coming in, and our analysis, the broad extent of drill targets at Las Tinajas is becoming ever clearer. Gelum has a land package that is abundantly endowed with gold and copper targets. Historically there has been a high correlation between soil anomalies and subsurface mineralization, and we look forward to testing this correlation with the new identified anomalies at Las Tinajas."

Las Tinajas summary

Gelum Resources Ltd. is targeting a large epithermal disseminated gold deposit at Las Tinajas, which is located at the north end of the Maricunga belt in northern Chile, just east of Potrerillos, a renowned gold-copper porphyry district. Gold mineralization is associated with silicified porphyry intrusions and associated diatreme breccias. There is potential for porphyry copper mineralization beneath the epithermal mineralization.

Since 1986, 64 drill holes totalling 10,990 metres have been completed in three campaigns, the most recent being 16 holes totalling 2,831 metres in 2024 to 2025. Multiple historical holes have significant intervals of greater than one gram per tonne gold, with several ending in greater than or equal to one g/t gold.

Only a small portion of the claim block has been drill tested and there is significant potential to expand the known mineralized centres associated with the diatreme breccia.

Sampling results

This new work focused on expanding the five-metre continuous rock chip sampling completed in April across the strongest alteration exposed in several road cuts. Gelum collected 403 rock geochemical samples across the east half of the property.

Five-metre continuous sampling along existing road cuts augmented by backhoe pit sampling was completed in two areas: 1) the NE target, which comprises highly argillic and sericite altered diatreme breccia outcrops above some of the better drill intercepts in the area; and 2) the SE anomaly, on Cerro Campamento, which is a broad, intense argillic altered zone centred on a dacite plug within the diatreme breccia.

At the NE breccia, sampling of the road-cut above and 200 metres east of the previously reported interval (80 metres at 0.22 g/t Au) returned 70 m of 0.17 g/t Au. Road cuts farther east and north of this returned weakly anomalous values persisting another 200 m in both directions. There are four historical drill holes below the road which returned higher grades (for example, TDH-10 with 84 m of 0.96 g/t Au) than at surface, indicating mineralization is stronger at depth and there is potential for significant blind discoveries below even weak surface mineralization.

The historical soil gold anomalies greater than 300 metres to the north of the drilling are crossed by roads that do not have rock exposure in their cut bank. A backhoe was used to dig one to three m deep pits to bedrock at 10 to 25 m intervals along the road, with samples collected at the base. Additionally, pits were dug and sampled for 700m northwest of the roads at 25 to 30 m spacing. While gold values were insignificant, gold pathfinder metals arsenic (As) and zinc (Zn) indicate there is mineralization in the area beneath the thin postmineral cover, and that gold grades may increase at depth. Zinc values are as high as those within the main diatreme breccia and arsenic shows an increasing trend with values highest at the north end of the sampling, and higher than within the known limit of the main breccia.

At the SE anomaly, the previous continuous five-metre chip sample intervals were extended south to the end of the roads, and reconnaissance chip samples were collected over argillic altered outcrops farther south. The dacite porphyry plug that forms this ridge has returned highly anomalous copper and molybdenum values, suggestive of a porphyry copper system. The new sampling extended the anomalous copper values a farther 200 metres to the south, and molybdenum values 90 metres further south. Reconnaissance samples collected for over 1,200 m to the southeast over broad (500 by 800 m) argillic and patchy silicic alteration returned elevated Cu-Zn-As (copper-zinc-arsenic) values within mostly sedimentary units are evidence of additional epithermal or skarn mineralization at depth. The geophysical survey will be instrumental in understanding the potential of this corner of the property.

Sampling and assay methods

Rock samples were collected by chip sampling natural outcrops and road cut exposures continuously as possible across the structural grain in a continuous line, between 2.5 to five m long, or one to two m individual samples in backhoe pits. Handheld GPS co-ordinates and digital photos of the sample bag and outcrop were taken at each sample site and used to verify, to the extent possible, the assay results, sample locations and general geology. No field duplicates or standard reference materials were used as the sampling was for target generation and not resource estimation. The laboratory inserted 1:30 blanks, duplicates, and standard reference material (SRM) for internal QA/QC (quality assurance/quality control).

Sample bags were stored in rice sacks, secured with zip ties, and delivered to Andes Analytical Assay SPA (AAA) in Copiapo, Chile, and analyzed in Santiago. Rocks were dried, one kilogram crushed to 80 per cent passing negative 10 Tyler mesh, split to 250 g and pulverized to 95 per cent passing negative 150 mesh. They were then submitted for 34-element ICP-AES analysis, which includes four-acid digestion of a 0.5 g plus or minus 0.1-milligram sample (code ICP_AES_HF34m-01). Gold was done by method FA-AA-1E42, in which a 40 g plus or minus 0.1 mg sample is fire assayed and finished with atomic absorption (AA) and, if overlimit (150 g/t), gravimetric.

Readers are cautioned that surface sampling results reported here should be viewed primarily as a guidance for future exploration drilling. Surface sampling is prone to sampling bias and is not necessarily a reliable indicator of mineralization at depth. The qualified person for this release has not done sufficient work to independently verify the historical sampling results, but Gelum does consider them current and indicative of future results because they were collected and reviewed by a qualified person.

Qualified person

John Drobe, PGeo, a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Drobe is not independent of the company as he is a consultant for the company.

Grant of stock options

The company further reports that pursuant to the company's incentive stock option plan, the company has granted incentive stock options to directors, officers and consultants, to purchase up to an aggregate 1.1 million common shares in the capital stock of the company. The options are exercisable on or before Aug. 11, 2028, at a price of 90 cents per share.

About Gelum Resources Ltd.

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