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Fitzroy Minerals NI 43-101 Technical Report for Buen Retiro Copper Project

Resource Estimates Technical Reports (NI 43-101)

Fitzroy Minerals NI 43-101 Technical Report for Buen Retiro Copper Project

Vancouver, British Columbia, November 8, 2024 – Fitzroy Minerals Inc. (TSXV: FTZ) (OTCQB: FTZFF)

(“Fitzroy Minerals ” or the “ Company”) is pleased to announce the filing of an independent technical

report (the “ Technical Report ”) for the Buen Retiro Copper Project in Atacama Region III, Copiapó

Province and Copiapó Comuna, Chile on the Company's profile on SEDAR+ at www.sedarplus.ca.

The Technical Report titled “National Instrument 43-101 Technical Report for the Buen Retiro Copper

Project” with an effective date of August 15, 2024 and an issuing date of October 23, 2024 was prepared

in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-

101"). The author and qualified person (as defined in NI 43-101) for the Technical Report is Scott Jobin-

Bevans, P.Geo., PhD, PMP. A copy of the Technical Report is available under the Company's profile on

SEDAR+ at www.sedarplus.ca, and on the Company's website at www.fitzroyminerals.com.

Correction to Press Release dated October 30, 2024

The Company’s press release issued on October 30, 2024 in respect of the acquisition of Ptolemy Mining

Limited included incorrect dates for the Buen Retiro Option Agreement and the Sierra Fritis Option

Agreement. The Buen Retiro Option Agreement was signed on June 30, 2023 and the Sierra Fritis Option

Agreement was signed on October 6, 2023. The investment to date on the Buen Retiro Option is also

US$1,608,000 and not US$1,540,000 as previously disclosed.

About Fitzroy Minerals

Fitzroy Minerals is focused on exploring and developing mineral assets with substantial upside potential

in the Americas. The Company’s current property portfolio includes the Caballos Copper and Polimet Gold-

Copper-Silver projects located in Valparaiso, Chile and the Taquetren Gold project located in Rio Negro,

Argentina, as well as the Cariboo project in British Columbia, Canada. Fitzroy Minerals’ shares are listed

on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF.

On behalf of Fitzroy Minerals Inc.

Merlin Marr-Johnson

President and CEO

For further information, please contact:

Merlin Marr-Johnson

[email protected]

+1 604-505-4554

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For more information on Fitzroy Minerals, please visit the Company's website: www.fitzroyminerals.com

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain statements and information that constitute forward-looking

information within the meaning of applicable Canadian securities laws. All statements in this news release,

other than statements of historical facts, are forward-looking statements. Such forward-looking

statements and forward-looking information specifically include, but are not limited to, statements that

relate to exploration plans of the Company.

Statements contained in this release that are not historical facts are forward-looking statements that

involve various risks and uncertainty affecting the business of the Company. Such statements can

generally, but not always, be identified by words such as "expects", "plans", "anticipates", "intends",

"estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or

conditions "will", "would", "may", "could" or "should" occur. All statements that describe the Company's

plans relating to operations and potential strategic opportunities are forward-looking statements under

applicable securities laws. These statements address future events and conditions and are reliant on

assumptions made by the Company's management, and so involve inherent risks and uncertainties,

including, environmental regulations or hazards and compliance with complex regulations associated with

mining activities, climate change and climate change regulations, fluctuations in exchange rates, the

availability of obtaining necessary financing to complete the business objectives of the Company, and such

further risks as disclosed in the Company's periodic filings with Canadian securities regulators. As a result

of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual

results could materially differ from those currently projected, and there is no representation by the

Company that the actual results realized in the future will be the same in whole or in part as those

presented herein. The Company disclaims any intent or obligation to update forward-looking statements

or information except as required by law. Readers are referred to the additional information regarding the

Company's business contained in the Company's reports filed with the securities regulatory authorities

in Canada. Although the Company has attempted to identify important factors that could cause actual

actions, events, or results to differ materially from those described in forward-looking statements, there

may be other factors that could cause actions, events or results not to be as anticipated, estimated or

intended. For more information on the Company and the risks and challenges of its business, investors

should review the Company's filings that are available at www.sedarplus.ca.

The Company provides no assurance that forward-looking statements and information will prove to be

accurate, as actual results and future events could differ materially from those anticipated in such

statements or information. Accordingly, readers should not place undue reliance on forward-looking

statements or information. The Company does not undertake to update any forward-looking statements,

other than as required by law.