Second Drill Hole at Potro SE Extends Polymetallic
NEWS RELEASE
J
une 16, 2025
Shares Issued and Outstanding: 81,101,494
TSX-V: MRZ
OTC: MRZLF
Second Drill Hole at Potro SE Extends Polymetallic
Mineralization at Mirasol’s Flagship Sobek Gold-Silver-
Copper Project in the Vicuña District, Chile
• S
econd drill hole testing the Potro SE target inter sected the continuation of a
polymetallic hydrothermal breccia system: 0.90m at 15.02 g/t gold Eq and 17.65m
at 0.22 g/t gold Eq with high silver, lead, zinc and indications of copper
• The mineralized system at Potro SE is hosted along the Ventana Fault which is also
a
ssociated with the high-grade porphyry and breccia discoveries at Lunahuasi
(NGEx Minerals) located ~3km to the NE
• Drilling to date is vectoring towards stronger mineralization to the south of current
intercepts, where a strong magnetic analytic signal (ASV I) anomaly coincides with
where the Ventana Fault is intersected by secondary fault
VANCOUVER, BC, June 16 , 20 25 — Mirasol Resources Ltd. (TSX -V: MRZ ) (OTC: MRZLF ) (the “ Company” or
“Mirasol”) is pleased to announce that results from the second drill hole at the Potro SE target extends the
structurally controlled mineralized hydrothermal breccia system with gold, silver, zinc and lead and indications
of copper on the Company’s 100%-owned Sobek Copper-Gold Project (“Sobek” or “the Project”) in the Vicuña
District of Chile . L ocated at the south east corner of the Sobek North property block , the Potro SE target is
strategically situated just 3km southwest of NGEx’s Lunahuasi discovery in an area that had not previously been
drill tested. Building on the success of the first hole at Potro S E, the second drill hole was positioned 200m
northeast along the fault structure to test the strongest response of the cylindrical 3D magnetic anomaly and
penetrate deeper into the IP PDP chargeability responses (news release dated Mar 2, 2025).
“These results from the second drill hole demonstrate the continuity of mineralization. Both drill holes confirm
the presence of a structurally focused, well mineralized, intermediate sulfidation system, potentially related
to a deeper porphyry center,” Mirasol’s President and CEO Tim Heenan stated. “The mineralized breccias
are interpreted to be structurally controlled by the Ventana Fault System, which is also associated with the
high-grade porphyry and breccia discoveries at Lunahuasi by NGEx Minerals, about 3km to the northeast.
Follow-up drilling will focus on testing the high magnetic anomaly southwest of first drill hole where the
Ventana Fault intersects a s econdary structure.”
Figure 1: Vicuña District - Sobek Property package including the Potro SE Target
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolr
esources.com
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Highlights from the Second Drill Hole (PSE-DDH-002) Testing the Sobek North Potro SE Target:
• 0.90m (800.30–801.20 m) with 15.02 g/t gold equivalent 90 (“gold Eq”) (0.24 g/t gold and
1,330 g/t silver) and 0.68% zinc and 0.58% lead.
• 17.65m (825.35 – 843.00m) with 0.22 g/t gold Eq (0.11 g/t gold, 10.30 g/t silver) and 0.48%
zi
nc and 0.19% lead, including:
• 3.59m (835.95 to 839.54m) with 0.54 g/t gold Eq (0.33 g/t gold, 19.18 g/t silver) and
1.97% zinc and 0.31% lead.
The mineralized breccia’s encountered in the second drill hole were similar to those observed in the first drill
hole, with second drill hole exhibiting slightly higher grades over somewhat narrower widths. The second drill
hole was completed to a final depth of 918, approximately 80m deeper than the first hole.
These results highlight the presence of a strong ly mineralized system, with elevated g old, silver, zinc and lead
values and background copper.
Table 1: Sobek North - Potro SE - Select Calculated Geochemical Intercepts from Second Drill Hole
Notes:
1. Reported interval length are down hole widths and not true widths
2. A
ll assay intervals represent length weighted averages
3. Some figures may not sum exactly due to rounding
4. Gold equivalent 90 (gold EQ) calculation using a ratio Gold Eq 90 = gold g/t + (silver g/t / 90). Lead/zinc are not
included in the gold Eq calculations.
T
he second d rill hole i ntersected a broad interval of hydrothermal breccia between 825.35 and 843.00m,
returning 17.65m with 0.22 g/t gold Eq (0.11 g/t gold , 10.3 g/t silver , 0.48% zinc and 0.19% lead; calculated
without cutoff). This polymictic hydrothermal breccia body is cemented by a manganese-calcite-quartz matrix
and host s clasts of porphyritic volcanic rocks showing strong pervasive quartz –sericite (phyllic) alteration
assemblages. The breccia matrix hosts aggregates of sphalerite, coarse galena, pyrite, and minor chalcopyrite.
A narrower, higher-grade subinterval from 835.95 to 839.54m returned 3.59m with 0.54 g/t gold Eq (0.33 g/t
gold, 19.18 g/t silver, 0.31% lead and 1.97% zinc), interpreted as a more focused mineralized pulse.
In addition, a separate zone of mineralized veinlets located from 800.00 to 800.90m yielded 0.9m with 15.02 g/t
gold Eq ( 0.24 g/t gold and 1,330 g/t silver, 0.68% z inc and 0. 58% l ead), further confirming the presence of
discrete zones of precious metal enrichment within the fault corridor. This supports the interpretation of a much
broader hydrothermal system potentially encompassing the entire structural envelope.
Figure 2: Sobek North Potro SE Target - Sobek North - Potro SE Second Drill Hole Results
The hydrothermal breccia intercepted in both the first and second drill hole coincides with a discrete
chargeability anomaly outlined by the 3D-IP model, with breccia-hosted mineralization appearing where the drill
holes intersect the 10-15 mV/V IP-Chargeability isosurfaces. This chargeable body extends to depth and remains
open along strike, reinforcing the potential for additional mineralized breccia or related intrusive phases deeper
within and along the Ventana Fault corridor. The presence of pyrophyllite in the first drill hole, together with
dominant illite-smectite assemblages observed in both holes suggests the circulation of acidic hydrothermal
fluids and the potential for structurally controlled zones of advanced argillic alteration at depth.
Table 2: Sobek North - Potro SE - Individual Mineralized Drill Hole Intervals
Hole Number From (m) To (m) I nterval (m) AuEq90 AuEq90 x Interval Au g/t Ag g/t Zn ppm Pb ppm Cu ppm
PSE-DDH-002 800.00 800.90 0.90 15.02 13.52 0.24 1330.00 6760.00 5760.00 330.00
PSE-DDH-002 825.35 843.00 17.65 0.22 3.88 0.11 10.30 4835.00 1903.00 ***
including 825.35 826.70 1.35 1.15 1.55 0.38 69.40 15600.00 11050.00 358.00
including 835.95 839.54 3.59 0.54 1.95 0.33 19.18 11974.26 3131.81 110.20
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Follow-up Drilling to Test the South Extension of Potro SE Mineralization Along the Ventana Fault
Future drill campaigns at Potro SE will focus to the south-southwest of the first drill hole, where geological vectors
point to stronger mineralization along the fertile fault structure. Testing the inferred intersection of the north -
northeast trending Ventana Fault and a secondary NW-trending structure (Maranceles Fault), coincident with a
high magnetic anomaly outlined by the analytical signal (ASVI). This southern extension (south-southwest) of the
fault is now the high-priority target to test for better-developed mineralization hosted in hydrothermal breccias
or potential porphyry source at depth.
The holes at Potro SE intersected mineralization at a topographic elevation (asl) of approximately 4,600–4,650m,
potentially representing the uppermost or peripheral regions of what may be a much larger and stronger
mineralized system. When compared to NGEx’s Lunahuasi, approximately 3km to the northeast of our current
drilling, the porphyry intercepts were at deeper depths of approx. 3,850 m topographic elevation (asl) . Drilling
potential porphyry target s will require somewhat deeper holes , it will be key to penetrate below the 4,500m
topographic elevation. It has become the norm in Andean Copper porphyry exploration to have deep holes
ranging from 1000-2000m depth.
High-Profile Vicuña Copper-Gold-Silver District
Mirasol staked the Sobek Project in 2016 based on prospective local geology and attractive structural
architecture prior to the 2021 discovery of the high -grade feeder zone at the Filo del Sol gold -copper deposit
and the 2023 discovery of Lunahuasi. The continually expanded and consolidated Sobek Project is located on
the same regional N-S trending structural corridor and just 3km to the west of the Filo del Sol deposit and 3km
to the southwest of NGEx Mineral’s discovery at Lunahuasi.
Sobek is located within a prospective geological environment with a compelling north -northeast trending
mineralized structural corridor crosscut by a north-northwest trending deep-seated trans-cordilleran lineament.
This is a common structural configuration hosting numerous Andean metal deposits in both Chile and Argentina.
Option Agreement on the Inca Copper-Gold Project in Chile Terminated
Mirasol today also announces the option agreement on the Inca Copper -Gold Project in Chile (“ Inca”) with
affiliates of Newmont Corporation (“Newmont”) has been terminated by Mirasol. Mirasol had the option to earn-
in 100% of Inca Gold, subject to a 1.5% NSR royalty (news release January 13, 2020). Mirasol has complied with
all of the stipulated exploration and expenditure obligations to terminate the agreement without penalty.
Shareholder Loan Increase
The Company today announced an increase to $3,000,000 of the loan (the “Loan”) from Mr. John Tognetti, a
director and control person of Mirasol. The Company initially announced a loan of $2,000,000 ( news release
March 14, 2025) . The Company drew down $1,000,000 of the Loan on March 19, 2025, and an additional
$1,000,000 on May 1, 2025.
The Loan bears interest at the rate of 10% per annum with each advance under the Loan payable at the end of
one year, can be repaid at any time without penalty and is secured by a General Security Agreement. Mirasol
expects to use the increased Loan proceeds primarily to pay its arm’s length creditors and for general working
capital.
In connection with the increase to the Loan, the Company will issue 250,000 common shares for an aggregate
of 750,000 common shares (the “Bonus Shares”) to Mr. Tognetti. The aggregate value of the Bonus Shares equals
approximately 10% of the principal amount of the increased Loan.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Due to Mr. Tognetti’s relationship with Mirasol, the Loan transaction (including issuance of Bonus Shares) is
deemed to be a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). The Loan transaction is exempt from the requirement for a formal
valuation and minority approval in accordance with, respectively, sections 5.5(b) and 5.7(a) of MI 61 -101, as
Mirasol is listed on the TSX Venture Exchange and the fair market value of the Loan transaction does not exceed
25% of Mirasol’s market capitalization. There is less than 21 days between the date of the Loan and the filing
date of the related material change report due to Mirasol’s need for the Loan proceeds to pay creditors.
The Bonus Shares will be subject to a four month hold period commencing from the date of issuance thereof.
The increased Loan and Bonus Shares are subject to acceptance by the TSX Venture Exchange.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company with 20 years of operating, permitting and community relations
experience in the mineral rich regions of Chile and Argentina. Mirasol is currently self-funding exploration at the
flagship Sobek Copper -Gold project located in the Vicuña Copper -Gold-Silver District of northeast Chile and
controls 100% of the high -grade Virginia Silver Deposit in the province of Santa Cruz, Argentina. Mirasol also
continues to advance a strong pipeline of highly prospective early and mid-stage projects.
For further information, contact:
Tim Heenan, President & CEO
or
Troy Shultz, Vice President Investor Relations
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been
reviewed and approved by Tim Heenan (MAIG), the President for the Company, who serves as a Qualified Person under the
definition of National Instrument 43-101.
QAQC: Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock chip,
soil, and stream sediment samples are collected under the supervision of the company’s geologists in accordance with
industry practice. Geochem ical assays are obtained and reported under a quality assurance and quality control (QA/QC)
program with insertions of controls (standards, blanks and duplicates) submitted to the laboratory. Samples were
dispatched to ALS Global - Geochemistry Analytical Lab, in Santiago, Chile, an ISO 9001:2015 accredited laboratory, which
is independent from the Company. Drill core samples were cut and prepared on site and transported to the reception
facility of ALS in Copiapo , all under direct supervision of Mirasol personnel Drill core samples (1.5-2.5kg) were prepared
with PREP31, and analysed for Au with fire assay and with multi-acid (4) digestion and ICP-MS Finish (*ME-MS61m) and
Au by fire assay and ICP -AES (ICP21). Over limits for Ag, Pb and Zn a re automatically re-analyzed by AG-GRA21 and ME-
OG62. Assay results from drill core, rock chip, soil and stream sediment, channel, and trench, samples may be higher, lower
or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural
geological grade variations in the primary mineralization.
Forward Looking Statements: The information in this news release contains forward looking statements that are subject
to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially
from those anticipated in our forward -looking statements. Factors that could cause such differences include: changes in
world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in
government and changes to regulations affecting the mining indus try and to policies linked to pandemics, social and
environmental related matters. Forward-looking statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and m ineral recovery processes. Although we
believe the expectations reflected in our forward -looking statements are reasonable, results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obl igations to update or
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may
be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1: Vicuña District - Expanded Sobek Property including the Potro SE Target and
Sobek 46 South Target
Table 1: Sobek North - Potro SE - Select Calculated Geochemical Intercepts Second Drill Hole
TSX-V: MRZ OTC: MRZLF
Notes:
1. Reported interval length are down hole widths and not true widths
2. All assay intervals represent length weighted averages
3. Some figures may not sum exactly due to rounding
4. Gold equivalent 90 (Gold Eq) calculation using a ratio of Gold Eq90 = gold g/t + (silver g/t / 90). Lead/zinc are not included in the Gold Eq calculations.
Hole Number From (m) To (m) Interval (m) AuEq90 AuEq90 x Interval Au g/t Ag g/t Zn ppm Pb ppm Cu ppm
PSE-DDH-002 800.00 800.90 0.90 15.02 13.52 0.24 1330.00 6760.00 5760.00 330.00
PSE-DDH-002 825.35 843.00 17.65 0.22 3.88 0.11 10.30 4835.00 1903.00 ***
including 825.35 826.70 1.35 1.15 1.55 0.38 69.40 15600.00 11050.00 358.00
including 835.95 839.54 3.59 0.54 1.95 0.33 19.18 11974.26 3131.81 110.20
Table 2: Sobek North - Potro SE – Individual Mineralized Drillhole Intervals
TSX-V: MRZ OTC: MRZLF
Notes:
1. Reported interval length are down hole widths and not true widths
2. All assay intervals represent length weighted averages
3. Some figures may not sum exactly due to rounding
4. Gold equivalent 90 (Gold Eq) calculation using a ratio of Gold Eq90 = gold g/t + (silver g/t / 90). Lead/zinc are not included in the Gold Eq calculations.
HOLE ID SAMPLE ID From (m) To (m) Interval (m) AuEq90 Au g/t Ag g/t Zn % Pb % Cu ppm
PSE-DDH-002 MRD00031129 800 800.9 0.9 15.0198 0.242 1330 0.68 0.58 330
PSE-DDH-002 MRD00031152 825.35 826.7 1.35 1.1471 0.376 69.4 1.56 1.11 358
PSE-DDH-002 MRD00031153 826.7 828 1.3 0.0693 0.048 1.92 0.24 0.10 18.9
PSE-DDH-002 MRD00031154 828 829 1 0.0133 0.001 1.11 0.11 0.04 5.7
PSE-DDH-002 MRD00031155 829 831 2 0.0084 0.002 0.58 0.09 0.03 8.6
PSE-DDH-002 MRD00031156 831 832.5 1.5 0.011 0.002 0.81 0.14 0.04 7.8
PSE-DDH-002 MRD00031157 832.5 833.25 0.75 0.0178 0.005 1.15 0.23 0.07 8.2
PSE-DDH-002 MRD00031158 833.25 834.25 1 0.0589 0.022 3.32 0.46 0.15 21.1
PSE-DDH-002 MRD00031159 834.25 835.95 1.7 0.0681 0.042 2.35 0.25 0.10 13
PSE-DDH-002 MRD00031160 835.95 837.35 1.4 0.1303 0.047 7.5 0.72 0.32 33.4
PSE-DDH-002 MRD00031162 837.35 838.65 1.3 1.1879 0.849 30.5 2.16 0.39 247
PSE-DDH-002 MRD00031163 838.65 839.54 0.89 0.2483 0.015 21 0.54 0.20 31.2
PSE-DDH-002 MRD00031164 839.54 840.4 0.86 0.0458 0.022 2.14 0.10 0.04 5.4
PSE-DDH-002 MRD00031165 840.4 841.22 0.82 0.0592 0.033 2.36 0.15 0.04 4.3
PSE-DDH-002 MRD00031166 841.22 843 1.78 0.0077 0.003 0.42 0.02 0.01 3.1
HOLE ID SAMPLE ID From (m) To (m) Interval (m) AuEq90 Au g/t Ag g/t Zn % Pb % Cu ppm
PSE-DDH-002 MRD00031129 800 800.9 0.9 15.020 0.242 1330 0.68 0.58 330
PSE-DDH-002 MRD00031152 825.35 826.7 1.35 1.147 0.376 69.4 1.56 1.11 358
PSE-DDH-002 MRD00031153 826.7 828 1.3 0.069 0.048 1.92 0.24 0.10 18.9
PSE-DDH-002 MRD00031154 828 829 1 0.013 0.001 1.11 0.11 0.04 5.7
PSE-DDH-002 MRD00031155 829 831 2 0.008 0.002 0.58 0.09 0.03 8.6
PSE-DDH-002 MRD00031156 831 832.5 1.5 0.011 0.002 0.81 0.14 0.04 7.8
PSE-DDH-002 MRD00031157 832.5 833.25 0.75 0.018 0.005 1.15 0.23 0.07 8.2
PSE-DDH-002 MRD00031158 833.25 834.25 1 0.059 0.022 3.32 0.46 0.15 21.1
PSE-DDH-002 MRD00031159 834.25 835.95 1.7 0.068 0.042 2.35 0.25 0.10 13
PSE-DDH-002 MRD00031160 835.95 837.35 1.4 0.130 0.047 7.5 0.72 0.32 33.4
PSE-DDH-002 MRD00031162 837.35 838.65 1.3 1.188 0.849 30.5 2.16 0.39 247
PSE-DDH-002 MRD00031163 838.65 839.54 0.89 0.248 0.015 21 0.54 0.20 31.2
PSE-DDH-002 MRD00031164 839.54 840.4 0.86 0.046 0.022 2.14 0.10 0.04 5.4
PSE-DDH-002 MRD00031165 840.4 841.22 0.82 0.059 0.033 2.36 0.15 0.04 4.3
PSE-DDH-002 MRD00031166 841.22 843 1.78 0.008 0.003 0.42 0.02 0.01 3.1