Ms. Keturah Nathe reports

ANQUIRO VENTURES LTD AND BLACK PINE RESOURCES CORP INITIATE DRILL PROGRAM AT SUGARLOAF COPPER PROPERTY

Anquiro Ventures Ltd. and Black Pine Resources Corp. have initiated the winter drill program at the Sugarloaf project near Tyrone, N.M. This milestone marks the transition from exploration planning to active field operations.

The companies confirm all necessary permits have been secured from state and federal regulatory bodies. Roadwork and drill site construction have been initiated by the drilling contractor, American Drilling Corp. of Spokane, Wash. HQ core drilling operations are scheduled to commence by March 1.

Drew Martel, chief executive officer of Black Pine, commented: "We are pleased to announce the commencement of our drilling exploration program on the Sugarloaf project, which will test the extent of shallow oxide copper mineralization on the property. This will be the first phase of drilling that has been initiated on the property, [whereby], once completed and assayed, the results may confirm whether there is a similar and contiguous copper mineralization extending from Freeport McMoRan's Tyrone mine production into the Sugarloaf property. The results will also provide an initial look at the grade and thickness of this untested exploration target."

Key operational highlights:

• Permitted capacity: The company has received approval for up to 11 drill holes 300 feet deep, providing significant flexibility to test high-priority targets across the project area.
• Technical specifications: The program will utilize HQ core drilling conducted by American Drilling to acquire high-quality samples for comprehensive assay and structural analysis. Core will be collected in 10-foot intervals and assayed for copper, molybdenum and silver.

The Sugarloaf project is located in a prolific mineral belt near Tyrone, N.M., characterized by oxide secondary copper and high-grade sulphide copper mineralization. The drill program will primarily target an oxide secondary copper zone exposed at surface.

Freeport McMoRan's Tyrone mine and is an open pit and is entirely heap-leachable copper production. Sugarloaf is located within 500 metres of Freeport's west extension of its open pit. Recent reports by Freeport McMoRan list a lifespan until 2030. Surface sampling grades at Sugarloaf average 0.30 per cent copper, which is higher than Tyrone. Both the current Tyrone mine and Sugarloaf are secondary copper deposits which are amenable to sulphuric acid leaching.

The Sugarloaf property

The Sugarloaf property is composed of 77 unpatented mining claims covering a total of 1,544 acres located 650 metres west of Freeport's secondary copper open pit at the Tyrone mine, New Mexico. Surface sampling completed to date on the Sugarloaf property has delineated an area in excess of 5,000 feet long by 1,000 feet wide of mineralization that assays 0.20 per cent to 0.48 per cent copper and several high-angle shear zones that assay up to 6.29 per cent copper. Induced polarization/resistivity surveys conducted in 1973 and 2022 have identified an apparent sulphide body in the northeast and a peripheral zone with a geophysical signature consistent with a copper oxide blanket that extends to the south around the area of a small open pit. Leaching tests done on samples from the vicinity of the open pit showed potential leachability using sulphuric acid. Black Pine submitted a plan of operation through the U.S. Forest Service and the State of New Mexico to seek approval to complete a Stage 1 drilling program. Readers are cautioned that the above-mentioned samples are selective and may be biased by nature, and therefore are not necessarily representative of the overall grade and extent of any mineralization that could occur on the subject areas of the Sugarloaf property. (Cu values have been previously referenced in the following news releases: Feb. 1, 2024, May 21, 2024, and Jan. 28, 2026).

All technical or scientific information disclosed above has been extracted from the technical report titled, Geological Report and Summary of Field Examination, Sugarloaf Property, Grant County, New Mexico, USA, dated Jan. 2, 2026, written by R.A. Lunceford, MSc, CPG.

It should be noted that the information disclosed above from adjacent properties is not necessarily indicative to the mineralization on the property.

The scientific and technical information contained in this news release was reviewed and approved by Richard Kern, BSc, MSc, is a qualified person and a proposed director of the resulting issuer, as defined under National Instrument 43-101.

Anquiro Ventures Ltd.

The company was incorporated under the Business Corporations Act (British Columbia) on March 1, 2012, and is a capital pool company (as such term is defined in exchange Policy 2.4) listed on the exchange. The company has no commercial operations and no assets other than cash.

Trading in the common shares of the company is currently suspended in accordance with the policies of the exchange and will remain suspended until such time as all required documentation in connection with the proposed transaction (see news release Jan. 28, 2026) has been filed with and accepted by the exchange and permission to resume trading has been obtained from the exchange. Completion of the proposed transaction is subject to a number of conditions, and there can be no assurance that the proposed transaction will be completed as proposed or at all.

We seek Safe Harbor.