Coppernico Advances Multi-Kilometre Tipicancha Copper- Gold Target Ahead of Initial Drilling
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 1
Coppernico Advances Multi-Kilometre Tipicancha Copper-
Gold Target Ahead of Initial Drilling
Vancouver, Canada – May 11, 202 6 – Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF , FSE: 9I3)
(“Coppernico” or the “Company”) is pleased to provide an exploration update on the Tipicancha epithermal-
porphyry copper-gold target at its Sombrero Project in Peru. Geological mapping has defined a large
hydrothermal alteration footprint containing locally developed advanced argillic cores (Figure 1 ), now
extending over more than four kilometres (“km”), consistent with a district-scale hydrothermal framework
with potential for a porphyry-related source at depth (Figure 2). Shallow excavation sampling has confirmed
near-surface copper enrichment and further refined the continuity of the sulfide-rich hydrothermal horizon.
Ongoing mapping increasingly defines vertical and lateral alteration zonation and structural controls which
will inform the upcoming drill program.
Highlights
• Hydrothermal Footprint Expansion and Definition: Systematic mapping is materially refining the
scale, geometry and structural framework of the Tipicancha hydrothermal footprint, now
interpreted to extend over more than 4 km in length.
• Continuous Pyrite Horizon and Copper Enrichment Confirmed: Shallow excavation sampling has
further defined continuity of a laterally extensive pyrite -rich hydrothermal horizon and confirmed
localized copper enrichment within mixed oxide-sulfide zones.
• Geochemistry Supports Potential Porphyry Mineralization at Depth: Multi-element
geochemistry (Cu -Mo-Se-S) and pathfinder enrichment characteristic of high -sulfidation
environments continue to support interpretation of a vertically zoned magmatic -hydrothermal
system with potential for deeper porphyry-related mineralization.
• Structural Corridors Provide Drill Targeting Vectors: Structural interpretation identifies ENE-WSW
corridors and intersecting NNE -trending structures that appear to focus alteration, sulfide
development, and copper enrichment, providing explicit vectors for initial drill targeting.
Ivan Bebek, Chair and CEO of Coppernico, commented, “The partially outcropping Tipicancha target is
emerging as one of our most compelling exploration targets at Sombrero, which we plan to drill test in the
coming months. The strong correlation between surface sampling in areas of limited bedrock expo sure,
recent geophysical studies , and these latest results continues to strengthen our confidence in the near-
surface continuity of the pyrite-copper horizon.”
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 2
Figure 1: Mapped alteration and structure over the greater Tipicancha target area.
For the purposes of this news release, Coppernico uses “lithocap” to describe the broad contiguous footprint
of strongly hydrothermally altered volcanic rocks at Tipicancha, characterized by pervasive argillic alteration
and locally developed zones of silicification, residual silica, p yrite enrichment, and higher -temperature
advanced argillic assemblages. Advanced argillic alteration refers here to acid -sulfate assemblages
including quartz –alunite (Na - and K -bearing), quartz –kaolinite ± plagioclase, abundan t pyrite, locally
developed residual to vuggy silica, and locally associated native sulfur. Surface mineral assemblages may
locally reflect oxidation and supergene overprint of earlier hydrothermal assemblages.
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 3
Figure 2: Interpretive cross section looking West through the large Tipicancha lithocap.
Tipicancha Test Pit Program and Results
Between February and March 2026, Coppernico geologists completed a program of 41 shallow vertical pits
(up to 2 m depth) across the Tipicancha pyrite horizon and selected step -out areas to the south (Figure 2).
The program was designed to define lithological contacts, characterize the depth and nature of the oxide–
sulfide transition, and to test for indications of supergene copper enrichment at the base of the leached
cap. Of the 41 pits, 32 were sampled and 25 reached either the sulfide horizon or an oxide -sulfide mixed
zone.
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 4
Figure 3: Map showing distribution of test pits, copper assays, and pyrite footprint. Many of the test pits
were completed within the strongly leached horizon and didn’t reach less oxidized material. Image from
trench 26SRT-076 illustrates this oxide to sulphide transition. Hand sample from trench 26SRT-106 shows
covellite coatings on fracture surfaces.
The pits confirm a laterally extensive, pyritic horizon, typically developed beneath a thin (0 –1.5 m) leached
cap of strongly argillized volcanic rocks with abundant iron oxides (jarosite > goethite). Massive to semi -
massive pyrite is locally developed at 50-70% sulfide, with patchy covellite mineralization in eight of the pits,
predominantly hosted in faults and fractures . Native sulfur is locally present and is strongly fracture
controlled.
Six pits returned values greater than 0.1% copper (“Cu”), including individual samples up to 0.44% Cu (4,410
ppm) in pit 26SRT-076 and 0.42% Cu (4,180 ppm) in pit 26SRT-077, both within mixed oxide-sulfide breccia
zones containing covellite, massive pyrite, and native sulfur. Selected pit -by-pit results are summarized in
Table 1 below.
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 5
Table 1: Selected Tipicancha Test Pit Results
Pit ID
Sulfide /
Mixed Zone
Interval (m)
Description Peak Cu (%)
26SRT-076 1.0 – 2.0 Mixed oxide-sulfide breccia: massive pyrite with
covellite and native sulfur. 0.44
26SRT-077 0.7 – 1.2 Mixed zone breccia: massive pyrite with trace native
sulfur in matrix. 0.42
26SRT-082 1.5 – 2.0 Sulfide zone: porphyritic andesite with massive pyrite
and native sulfur. 0.14
26SRT-091 1.95 – 2.20 Sulfide zone: strongly altered andesite with massive
pyrite. 0.12
26SRT-095 1.6 – 2.0 Sulfide zone: porphyritic andesite with disseminated
to massive pyrite and trace covellite on fractures 0.12
26SRT-106 1.57 – 2.15 Sulfide zone: porphyritic andesite with disseminated
to massive pyrite and trace covellite patches. 0.12
Table notes: Reported values represent the highest individual ICPMS Cu assay returned from each pit.
True widths are unknown. See Quality Control section below for analytical methodology.
Importantly, the program locally improved definition of the southern extent of the mapped pyrite -rich
horizon. Confirmed continuity of the horizon along structurally focused trends, supports interpretation of a
laterally extensive, structurally controlled, sulfide -rich body developed beneath the Tipicancha lithocap.
Copper mineralization within the pyrite horizon is primarily hosted in covellite and other secondary copper
sulfides, consistent with the supergene-modified upper expression of a magmatic-hydrothermal source.
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 6
Figure 4: Map of geochemical zonation patterns in the N-Tipicancha target area.
Multi-element geochemistry is revealing that Cu-Mo-Se-S anomalism is concentrated within sulfide-rich
horizons and adjacent alteration zones, while pathfinder elements (As, Sb, Sn) characteristic of high -
sulfidation epithermal environments are more widely and variably distributed within the lithocap. Together,
these observations support the presence of a robust, vertically and horizontally zoned magmatic-
hydrothermal framework with potential for deeper porphyry -related mineralization . Structural
interpretation has identified ENE-WSW corridors and NNE-SSW intersections that focus alteration (Figures
1 and 4), sulfide deposition, and copper enrichment, consistent with the structural framework outlined by
the Company’s recent geophysical surveys.
Expanded Mapping and District-Scale Geological Model
The Company’s recent expansion of its Sombrero land position, including the Horizonte concessions, has
enabled systematic geological mapping, surface sampling and structural interpretation across the broader
Tipicancha hydrothermal system. This work is helping define the nature and scale of alteration and
structural framework, with the hydrothermal footprint now interpreted to extend over more than 4 km in
strike length and up to approximately 1.5 km in width (Figures 1 and 2).
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 7
Surface mapping is increasingly defining vertical zonation within the broader Tipicancha hydrothermal
footprint. This evolving geological framework will allow the Company to transition from broad target
definition toward more explicit drill vectoring based on converging structural, geochemical and alteration
indicators:
• Higher-elevation exposures in the central and southern portions of the lithocap are dominated by
vuggy and residual silica, native sulfur, silicified hydrothermal breccia, and quartz-alunite ± kaolinite
alteration, characteristic of high-sulfidation lithocap environments.
• Mid-elevation exposures host the laterally persistent pyrit ic horizon described above, with
localized, fracture-controlled copper enrichment and structurally focused covellite, interpreted to
represent exposure at a lower erosional level within the broader and strongly leached
hydrothermal footprint.
• Lower elevation exposures near the northern limit of the lithocap footprint include sheeted quartz-
pyrite veining, providing a vector toward potentially hotter and deeper parts of the hydrothermal
system.
In large lithocaps globally, mineralization is commonly heterogeneously distributed and typically exhibits
both vertical and horizontal zonation and structural focusing, with porphyry centers often laterally or
structurally offset from the most intensely altered portions of the lithocap, rather than directly beneath the
surface alteration footprint. Improved understanding of lithocap geometry, structural corridors, vertical
alteration transitions, and geochemical zoning is therefore central to vectoring toward potential deeper
mineralized centers.
Structural interpretation has identified NNE-trending structures that focus alteration intensity particularly
at intersections with ENE -WSW corridors ; locally, these intersections appear to have focused sulfide
deposition (pyrite) and copper enrichment. At Tipicancha, the convergence of major structural
intersections, sulfide-rich hydrothermal horizons, and Cu ± Mo ± Se geochemical signatures is being used
by the Company to refine drill targeting ahead of initial drilling.
Tim Kingsley, VP Exploration of Coppernico, commented, “Our recent mapping across the expanded
Tipicancha land position has materially refined our understanding of the broader hydrothermal footprint.
We are now mapping a multi-kilometre, vertically zoned magmatic-hydrothermal system. The shallow pit
program provides valuable near-surface continuity for the pyrite-copper horizon and has improved our local
geochemical characterization of the near-surface pyrite bearing horizon. The program has also highlighted
structural controls that will be directly tested during the initial drill program. These independent
observations are converging on a clear set of geological vectors that will guide our initial drill targeting at
Tipicancha.”
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by Tim
Kingsley, M.Sc., CPG, Coppernico’s Vice President of Exploration, who is a “Qualified Person” as defined in NI
43-101. Mr. Kingsley supervised the sampling program and verified the data disclosed herein.
Quality Control
Samples were typically between 1 and 2 metres in length; however, sample lengths could be reduced to as
little as 0.5 metres where lithological or significant mineralogical changes were observed, in order to
COPPERNICOMETALS.COM
TSX: COPR | OTCQB: CPPMF | FSE: 9I3 8
accurately reflect the apparent width of mineralization. Analytical samples were collected by cutting a
continuous channel into bedrock with a portable rock saw. Individual samples weighed between 3 and 7
kilograms. Samples were collected in plastic bags, given a unique reference number and sent to the ALS
Laboratories in Lima, Peru for preparation and analysis. Preparation included crushing the sample to 90% <
2 mm and pulverizing 1,000 g of crushed material to better than 95% < 106 microns. All samples are assayed
using 30 g nominal weight fire assay with atomic absorption finish (Au -AA23) and multi -element using a
four-acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater than or near 10,000
ppm Cu, or 10,000 ppm Zn, assays were rep eated using an ore -grade four-acid digest method (Cu -OG62).
QA/QC programs for 2025 channel samples included internal standard samples, blanks, and duplicates, lab
duplicates, lab standards, and laboratory blanks indicate good overall accuracy and precision.
ON BEHALF OF THE BOARD OF DIRECTORS
Ivan Bebek
Chair & CEO
For further information, please contact:
Coppernico Metals Inc.
Phone: +1 778 729 0600
Email: [email protected]
Website: www.coppernicometals.com
Twitter: @CoppernicoMetal
LinkedIn: www.linkedin.com/company/coppernico-metals/
About Coppernico
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders
through diligent project evaluation and exploration , in pursuit of the discovery of large-scale high-grade
copper-gold deposits in the Americas. The Company’s management and technical teams have a successful
track record of raising capital, discovery and the monetization of exploration successes. The Company's
objective is to become a leading advanced copper and gold explorer, and through its wholly owned
Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously
referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project,
while regularly reviewing additional premium projects to consider for acquisition.
The Sombrero Project is a land package of approximately 57,000 hectares (570 square kilometres) located
in the north -western margins of the world -renowned Andahuaylas-Yauri trend in Peru. It consists of a
number of prospective exploration targets characterized by copper -gold skarn and porphyry systems and
precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April
17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the
Sombrero Project. The Tipichanca target was determined subsequent to the date of that report.
Common shares of Coppernico Metals Inc. are listed on the Toronto Stock Exchange under the symbol
“COPR”, trades on the OTCQB Venture Market under symbol “CPPMF” and is quoted over the counter by
certain dealers in the Unofficial Market of the Frankfurt Stock Exchange under the symbol “9I3”. More
information about Coppernico can be found on the Company’s profile on SEDAR+ (www.sedarplus.ca).