Dr. Paul Gow reports

TRIBECA RESOURCES EXPLORATION UPDATE

Drilling is commencing at Tribeca Resources Corp.'s La Higuera IOCG (iron-oxide-copper-gold) project and to also provide an update on its continuing field exploration activities at the Jiguata porphyry -- high-sulphidation copper exploration project, both located in northern Chile.

Highlights:

• Drilling commencing this week at the previously untested Chirsposo Sur target; one of five targets at Tribeca's La Higuera project. An approximate 1,050-metre three-hole program is planned.
• The Chirsposo Sur target comprises a coincident geophysical anomaly in ground magnetic, gravity and induced polarization data sets, located under thin gravel cover of an estimated maximum 20-metre depth.
• Jiguata predrilling work program expanded to include magneto-telluric (MT) geophysical surveying. The MT survey has commenced, with the objective of constraining the location of any intrusive bodies and testing for potential porphyry -- high-sulphidation sulphide mineralization under the four large alteration systems recently delineated by geological mapping across the project area.

Tribeca Resources chief executive officer Dr. Paul Gow commented:

"We now have two exciting field campaigns in progress. Drill platforms have been prepared and a diamond drill rig is mobilizing to the Chirsposo Sur target, which we believe displays a similar geophysical signature, magnetite mineralogy and interpreted structural setting to our Gaby IOCG discovery.

"In addition, MT surveying is now in progress at the Jiguata project in northern Chile, which we believe has potential to host a large Miocene porphyry copper or high-sulphidation system. MT surveying typically investigates to a deeper level than traditional IP surveying. We look forward to integrating the MT results with our other systematically collected and high-quality predrilling data sets to target drilling to test this large and exciting system."

The La Higuera project

The La Higuera district hosts multiple known iron-oxide-copper-gold (IOCG) or iron-oxide apatite (IOA) deposits, including the historic La Higuera high-grade underground copper mine, and the large El Tofo magnetite deposit. Tribeca Resources' La Higuera project comprises 2,827 hectares of exploration and exploitation licences within the district, and contains five discrete targets. Tribeca's objective is to develop a district with multiple copper-gold (plus or minus iron, plus or minus cobalt) mineral resources as are present in other northern Chilean IOCG districts, such as the Candelaria/Punta del Cobre and the Mantoverde/Santo Domingo districts.

To date, Tribeca has drilled at only two of the five targets. At the Gaby target, Tribeca intersected IOCG-style copper-gold mineralization over a 1.4-kilometre strike length. The mineralization is hosted in a north-south-trending complex of magnetite-bearing breccias and veins interpreted as related to a strand of the Atacama fault system. Thick copper-gold zones, up to 285 metres down hole length (comprising potentially 140 m true thickness assuming a vertical orientation) were consistently intersected along the strike length, with a best intersection of 268 m at 0.66 per cent Cu and 0.14 gram per tonne Au in hole GBY001 (see news release dated Jan. 30, 2023). Cobalt and magnetite are also present in the mineralization and could be potential byproducts, as proposed for the Santo Domingo project of Capstone Copper farther north in the Chilean Coastal IOCG belt. Preliminary metallurgical testwork completed in 2008 on historic drill core from the Gaby mineralization indicated potential to produce a copper-gold concentrate, a magnetite concentrate and a cobalt concentrate (comprising pyrite) from the mineralization.

Tribeca also completed two diamond holes at the Chirsposo target, approximately three km south of the Gaby target, intersecting a strong magnetite-dominated hydrothermal alteration system with a best intersection of 167 m at 0.21 per cent Cu from 56 m depth. This included an interval of 12 m at 0.91 per cent Cu and 0.24 g/t Au (see news release dated May 17, 2023).

Chirsposo Sur target

The Chirsposo Sur target comprises an interpreted strong hydrothermal magnetite alteration system under thin gravel cover in the southern La Higuera project area. The ground magnetic signature of the alteration system and the interpreted structural setting appear very similar to that at the Gaby discovery, approximately four km to the north. Both systems display associated magnetic intensities on the order of greater than 2,500 nT, and both comprise kilometre-scale, linear, broadly north-south-trending, magnetic anomalies that are crosscut by a series of northwest-trending faults. Inversion of the ground magnetic data at Chirsposo Sur indicates the system comprises a steeply dipping magnetite alteration system of 1.2 km strike length. The interpreted body is also coincident with an intense (greater than 30 millivolts per volt) north-south IP chargeability trend that stretches over 2.4 km, along with a broadly coincident 0.5 to 1.0 mGal residual gravity anomaly.

Chirsposo Sur drill program

Two historic vertical diamond holes at the Chirsposo Sur target, drilled approximately 200 m to the west of the body (CB-02, CB-03) intersected IOCG-style alteration with weak copper mineralization (eight m at 0.23 per cent Cu from 38 m in hole CB-02), as reported in the National Instrument 43-101 technical report filed by Tribeca Resources on Oct. 24, 2022 (the La Higuera technical report). The drill core demonstrated strong magnetite alteration with a coarse-grained pyrite-dominated sulphide assemblage present in hole CB-02.

The planned drill program comprises three diamond holes for approximately 1,050 m, with two holes to test discrete magnetic highs within the main magnetic and gravity target, and one hole to the south to test a rare coincident low resistivity anomaly evident in the IP data.

Jiguata MT geophysical survey

Initial technical information from the recently completed field mapping and sampling activities at Jiguata were reported in Tribeca's news release dated Feb. 25, 2026. One of the key outcomes from this work was to delineate four large alteration systems that variably display indications of a high-level hydrothermal system, including associated advanced argillic alteration, silica-alunite breccias, vuggy quartz alteration and dacite domes.

Traditional IP surveying was completed over the area of three of the four alteration systems in 2014, all three of which displayed significant IP chargeability anomalies. MT surveying typically has a greater depth of investigation than conventional IP surveying, such that a combination of the two methods has been shown to work successfully elsewhere in the Miocene belt farther south in Chile and Argentina, with notable examples including the Valeriano and Altar deposits.

The MT surveying at Jiguata is being undertaken to extend the depth range of resistivity information over the four large alteration centres. Results are expected by the second half of May, and will be reported in due course.

Qualified person

All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the chief executive officer of Tribeca Resources. He is a member of the Australian Institute of Geoscientists (MAIG), a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera IOCG project, the Jiguata project and the Chiricuto property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera IOCG project, the Jiguata project and the Chiricuto property.

About Tribeca Resources Corp.

Tribeca Resources is a portfolio-driven copper explorer focused on northern Chile. Led by a team with a record of discovery and significant equity ownership, Tribeca Resources' objective is to discover the mineral resources for the next generation of copper mines in Chile.

Tribeca Resources' flagship La Higuera IOCG project is 100 per cent owned and has seen approximately 10,000 m of drilling with mineralization defined over a 1.4-kilometre strike length at the Gaby discovery. Most of the La Higuera project is held as 100-per-cent-owned properties, but with the properties overlying the Gaby target held under a purchase option agreement. The Chiricuto and Jiguata projects are earlier stage porphyry copper-gold-molybdenum targets held under purchase option agreements.

We seek Safe Harbor.