Coppernico Receives Approval for Major Drill Permit Expansion at Sombrero
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Coppernico Receives Approval for Major Drill Permit
Expansion at Sombrero
Vancouver, Canada – August 10, 2026 – Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF , FSE: 9I3)
(“Coppernico” or the “Company”), is pleased to announce that its Peruvian subsidiary has received approval
of its Environmental Impact Assessment – Semi-detailed (“EIA-Sd”) filed in November 2025, for an expanded
drilling permit at its Sombrero Project in Peru. This marks a key step toward completion of the expanded
drill permitting process. The Company is now advancing the remaining administrative requirement, the
start-of-activities authorization , which is required to be granted by the Peruvian Ministry of Energy and
Mines (“MINEM”) before drilling can commence.
Expanded EIA-Sd Permit Summary:
• Expands the approved drill area from 904 hectares (“ha”) by nearly 2,218 ha, for a total permitted
area of approximately 3,122 ha (31.22 square kilometres / 12.05 square miles).
• Increases the number of authorized drill platforms from 38 to 181.
• Increases the number of authorized drill holes from 49 to 300.
• Supports the use of multiple drill rigs.
• Covers multiple high-priority targets, starting with the advanced Fierrazo target.
• Provides greater flexibility for the design and execution of future exploration programs.
• Creates opportunities for additional local employment and continued collaboration with
communities surrounding the Sombrero Project.
• Drilling remains subject to receipt of the start-of-activities authorization.
Ivan Bebek, Chair and CEO of Coppernico, commented , "The approval of our expanded environmental
permit is an important milestone for the Sombrero Project and reflects years of disciplined technical work,
constructive engagement with our host communities, and a shared commitment to responsible
development. While our initial DIA permit provided an important foundation, it was limited in scope. This
expanded EIA-Sd permit covers our most advanced and highest -priority exploration targets, including
Fierrazo.
This permit will give us the flexibility to systematically test key areas of what we believe is one of the most
compelling district-scale copper-gold opportunities in the Americas, amid rising copper and gold prices .
Equally important, this milestone reinforces the collaborative relationships we have built with local
communities, creating the potential for meaningful employment, long -term investment, and shared
economic benefits as we responsibly advance the project.
We would like to thank our team in Peru, our local communities, stakeholders, and the government
authorities for their continued and active engagement throughout the permitting process. We are excited
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to complete the final steps required to begin drilling in the coming months and to start unlocking the
exceptional discovery potential of Sombrero for the benefit of all stakeholders."
Figure 1: Map illustrating the original 904-hectare and expanded 3,122-hectare drill permitted areas and
key exploration targets at the Sombrero Project, and surrounding mineral claims held by other
companies.
Expanded EIA-Sd Permit
The approved EIA -Sd permit is a Category II environmental instrument designed for a larger -scale
exploration program and follows the Company’s initial Category I DIA (Declaración de Impacto Ambiental,
or Environmental Impact Declaration) permit1. It more than triples Coppernico’s approved drill area from
approximately 904 h a to approximately 3, 122 ha and increases the permitted program from 38 drill
platforms and 49 drill holes to 181 platforms and 300 drill holes.
The expanded permitted area extends primarily to the north and west of the original permit boundary and
encompasses a substantially larger portion of the Ccascabamba target area. Importantly, it includes
Fierrazo, the Company’s priority target for the next phase of drilling, together with additional prospective
areas at Corrales, Chumpi and Escondida within Ccascabamba. The expanded area also includes Huachana,
located south of Nioc, and Tipicancha.
1 Ministry of the Environment of Peru: https://www.minam.gob.pe/seia/mineria/
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The Category II approval allows a broader and more flexible exploration program to be designed across
multiple target areas, including the potential deployment of additional drill rigs. It also allows Coppernico
to adjust drill locations and target sequencing as new geological information is obtained. The permitted
capacity provides flexibility for a larger, phased drill program planned across 2026 and 2027, with the scope
and sequencing of drilling to be refined as results are received and subject to available funds.
Fierrazo: Priority Drill Target
Fierrazo is expected to be the first target tested during Coppernico’s next phase of drilling. Located
northeast within the Ccascabamba target area, Fierrazo is an advanced copper-gold skarn target supported
by historical drilling, surface mineralization and compelling geological and geophysical evidence.
Historical drilling completed by Aceros Arequipa, returned broad intervals of copper -gold mineralization,
with highlights including: 116 m etres (“m”) of 0.42% copper (“Cu”) and 0.24 grams per tonne (“ g/t”) gold
(“Au”), 90.4 m of 0.48% Cu and 0.05 g/t Au, and 51 m of 0.43% Cu and 0.16 g/t Au (see news release dated
June 13, 2019, issued by predecessor Auryn Resources, now Fury Gold Mines).
Historical drilling has demonstrated significant copper mineralization, while geological and geophysical
evidence indicates that the mineralized system remains open in multiple directions. The Company’s
planned drilling at Fierrazo will seek to expand upon the known footprint, assess the continuity of
mineralization and evaluate the broader scale potential of the system.
Figure 2: Historical drilling, surface sampling and proposed drill locations at the Fierrazo target.
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Next Steps
The EIA-Sd approval represents one of the final steps required to commence the expanded drill program.
In preparation for drilling, the Company is:
• Advancing logistical and site preparations required for mobilization , including finalizing
arrangements with a drill contractor.
• Completing the remaining regulatory requirements, including obtaining the start-of-activities
authorization.
• Continuing its engagement with local communities and stakeholders in preparation for the next
phase of exploration.
Coppernico expects to commence mobilization shortly after the remaining authorization is received.
Additional details regarding the size of the initial program, drill -hole locations, target sequencing and
anticipated timing will be provided as preparations advance and funding requirements are determined.
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.
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 an d 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 5 7,000 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
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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 Tipicancha 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).
Cautionary Note
No regulatory organization has approved the contents hereof.
This news release contains forward -looking statements and forward -looking information within the
meaning of Canadian securities legislation (collectively, “ forward-looking statements”). Forward-looking
statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar
expressions and include, but are not limited to, statements with respect to: the receipt of the remaining
authorization; the timing and execution of the expanded drill program and the Company’s ability to fund
the program, including drilling at Fierrazo and other priority targets; the interpretation of exploration data;
the potential scale and continuity of mineralization; and the ability of future drilling to expand known
mineralization or result in new discoveries. No certainty can be given that these expectations will prove to
be correct and such forward-looking statements included in this news release should not be heavily relied
upon. Forward-looking statements are based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results
and events to differ materially from those that are disclosed in or implied by such forward -looking
statements. Readers should refer to the risks discussed in the Company’s 2025 Annual Information Form
and other continuous disclosure filings with the Canadian Securities Administrators, available at
www.sedarplus.ca. These factors are not, and should not be construed as being, exhaustive. Accordingly,
readers should not place heavy reliance on forward -looking statements. The forward -looking statements
contained in this new s release are expressly qualified by this cautionary statement. Any forward -looking
information and the assumptions made with respect thereto speak only as of the date of this news release.
The Company does not undertake any obligation to publicly update or revise any forward -looking
information after the date of this news release to conform such information to actual results or to changes
in the Company’s expectations except as otherwise required by applicable legislation.