Tribeca Resources Signs Definitive Option Agreement to Acquire the Jiguata Porphyry Copper Property in Northern
NEWS RELEASE
TSXV TRBC OTCQB TRRCF 1 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
29 OCTOBER, 2025 | VANCOUVER, BC
Tribeca Resources Signs Definitive Option Agreement to
Acquire the Jiguata Porphyry Copper Property in Northern
Chile
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources ” or the
“Company”) is pleased to announce that, further to the Company's news release dated June 19,
2025, it has entered into a definitive option agreement dated October 28, 2025 (“ Option
Agreement”) with private arm’s length vendors (the “Project Vendors” ) to acquire a 100%
interest in the 10,000 hectare Jiguata Porphyry Copper property (the “Jiguata Property”) over a
period of 5 years (the “Purchase Option”).
The Jiguata Property, located in northern Chile, 120km north of the major mining company
controlled Collahuasi and Quebrada Blanca mines (Figure 1), will be progressed in parallel with
the Company’s two existing projects: La Higuera (the “ La Higuera Property”) and Chiricuto (the
“Chiricuto Property”), both located in the Chilean Coastal IOCG Belt.
Highlights:
Large epithermal and interpreted porphyry alteration system in the northern extension of the
prolific Chilean porphyry-bearing Eocene-Oligocene Belt, with partial overprint and cover by
younger Miocene age rocks
Drive-up access via paved Collahuasi road, nearby accommodation and associated
infrastructure
Soil sampling, historic drilling, geological mapping and geophysics highlight a large 5km x
3km exploration target zone, with two existing discrete near drill-ready targets
Under the Option Agreement, during the first two years, Tribeca will make staged cash
payments totalling US$ 100,000 and undertake a minimum of 3,000 meters of drilling
Pre-drilling activities at the Jiguata Property will be undertaken in parallel with further drilling
at the Company’s flagship La Higuera Property
Tribeca Resources CEO, Dr. Paul Gow commented:
“We are very pleased to have now signed the definitive Option Agreement for this exciting
porphyry copper exploration opportunity at Jiguata. Following the successful financing last week,
preparations now are underway to commence fieldwork at Jiguata in the coming weeks.”
“The next twelve months will be a period of high activity for Tribeca, with drilling planned at our
cornerstone La Higuera Property as well as at the Jiguata Property. Our now expanded portfolio
of three high potential Chilean copper projects positions Tribeca Resources to capitalise on
growing interest in quality copper exploration.”
The Jiguata Property option agreement
Tribeca has entered into a 5-year Option Agreement, giving it the right, but not the obligation, to
acquire a 100% interest in the Jiguata Property. Tribeca has made a payment to the vendors of
US$25,000 in connection with signing of the definitive Option Agreement, and will reimburse the
Project Vendors approximately US$44,000 for the 2025 licence fee already paid by them. Under
NEWS RELEASE
TSXV TRBC OTCQB TRRCF 2 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
the terms of the Option Agreement, the total consideration and required work commitments, as
applicable, will be as follows on a yearly basis:
Milestone Cash Securities Exploration or Other Work Commitments
Upon signing of the
Option Agreement
US$25,000
(paid)
N/A N/A
At end of Year 1 US$75,0001 N/A N/A
At end of Year 2 US$125,0001 N/A To maintain the Purchase Option, Tribeca must have
completed at least 3,000 metres of drilling, with a
minimum hole depth of 500m within the first 24 months
of signing the Option Agreement (the “ Minimum
Exploration Program”).
At end of Year 3 US$150,0001 N/A N/A
At end of Year 4 US$175,0001 N/A N/A
At end of Year 5 US$14,450,0002 N/A N/A
1 If the Purchase Option is maintained
2 If the Purchase Option is exercised
Upon exercise of the Purchase Option (which remains at the sole discretion of the Company), the
Project Vendors will retain a 2.0% net smelter return royalty (the “NSR Royalty”) over the Jiguata
Property. Tribeca will have a right to repurchase 100% of the NSR royalty for US$20 million.
For more information regarding the terms of the Option Agreement, please see the Company’s
press release dated June 19, 2025.
The Jiguata Property (see Figure 1 below) comprises 34 exploration concessions covering 10,000
hectares and is located in the northern extension of the Eocene-Oligocene metallogenic belt of
northern Chile (Figure 1), where it has been overprinted by the Miocene magmatic belt. The
prolific Eocene-Oligocene Belt hosts the giant Collahuasi, Chuquicamata and Escondida
deposits.
The project area encompasses a large advanced argillic alteration zone (25 square km) hosted
within a volcanic tuffaceous unit under a thin blanketing cover of fresh unaltered Miocene dacitic
volcanic rocks dated at approximately 9-5 Ma. The alteration zone has been exposed via erosional
windows in the overlying Miocene volcanic rocks.
Tribeca Resources plans to extend the historic mapping and surface sampling and undertake
additional geophysics prior to proceeding with drilling at the Jiguata Property. Tribeca Resources
will be the operator of the project.
NEWS RELEASE
TSXV TRBC OTCQB TRRCF 3 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
Figure 1. Location of the Jiguata Property (10,000 hectares) in the Eocene-Oligocene metallogenic belt of northern
Chile, where it is overprinted by the younger Miocene belt.
Tribeca confirms that there are no finder’s fees payable in connection with the entering into of the
Option Agreement. The Company’s entry into the Option Agreement and any future acquisition
within the Jiguata Property remains subject to the approval of the TSX Venture Exchange (the
“TSXV”).
Finder’s Fee in Connection with the Company’s Non-Brokered Private Placement Offering
In connection with the closing of the Company’s non-brokered private placement offering of units
further described in its news release dated October 23, 2025 (the “ Offering”), the Company
previously announced that it had paid an aggregate of approximately $248,694 and issued
finder’s warrants to acquire up to an aggregate of 1,184,257 common shares of the Company (the
“Finder’s Warrants”) as finder’s fees to certain eligible finders in consideration for introducing
certain purchasers to the Company. The Company wishes to clarify that it has also paid an
additional $3,717 and issued an additional 17,700 Finder’s Warrants as finder’s fees to certain
eligible finders. As a result, the Company paid an aggregate of approximately $252,411 and
issued an aggregate of 1,201,957 Finder’s Warrants to eligible finders in connection with the
Offering.
NEWS RELEASE
TSXV TRBC OTCQB TRRCF 4 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
Qualified Person
All scientific and technical information in this press release has been prepared by, or approved
by, Dr. Paul Gow, who is the CEO 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 NI 43-101. Dr. Gow has not verified any of
the information regarding any of the properties or projects referred to herein other than the La
Higuera Property, the Chiricuto Property and the Jiguata Property. Mineralization on any other
properties referred to herein is not necessarily indicative of mineralization on the La Higuera,
Chiricuto or Jiguata Properties.
About Tribeca Resources
Tribeca Resources is a copper exploration company focused on discovering and developing
assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose
members are significant shareholders of the Company, has world-leading expertise and a
discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the
Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper
mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-
stage copper exploration and resource development projects. To this end, mineral targets are
regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca Resources’ flagship property is the La Higuera Property that comprises 4,147 hectares of
granted mining and exploration licences and is located towards the southern end of the Chilean
Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the
project can be found in the NI 43-101 Technical Report lodged by Tribeca Resources on SEDAR
on 24 October 2022.
On behalf of Tribeca Resources Corporation
Paul Gow Thomas Schmidt
CEO and Director President and Director
[email protected] [email protected]
+1 604 685 9316 +1 604 685 9316
Cautionary Note
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or
subscribe for securities in the United States. The securities referred to herein have not been and
will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with
any securities regulatory authority of any state or other jurisdiction in the United States, and may
not be offered or sold, directly or indirectly, within the United States or to, or for the account or
benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act
(“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the
registration requirements of the Securities Act.
NEWS RELEASE
TSXV TRBC OTCQB TRRCF 5 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
Forward Looking Information
This press release contains forward-looking statements and information that are based on the
beliefs of management and reflect the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict",
"may" or "should" and the negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and information. The forward-
looking statements and information contained in this press release include statements regarding
the Option Agreement in respect of the Jiguata Property, the ability to obtain TSXV approval in
respect of the Option Agreement and the Offering, the ability of the Company to develop and define
suitable drill targets at the Jiguata and La Higuera Properties, the relationship between geophysical survey
results and potential mineralization, the ability of the Company to raise appropriate funding to complete the
work program at the Jiguata and La Higuera Properties and other future plans and objectives of the Company,
including other exploration projects.
Such statements and information reflect the current view of the Company. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other factors,
which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements. Such factors include, among others,: the ability of the
Company to obtain TSXV approval in respect of the Option Agreement and the Offering, the
ability of the Company to pay the purchase price as well as any other payments required by the
Option Agreement, the risks associated with mineral exploration, including the risk that actual
results of exploration will be different from those expected by management, and the risk that new
laws or regulations could adversely affect the business and results of operations of the Company
and the anticipated work performed on the Company’s projects.
There are several important factors that could cause the Company’s actual results to differ
materially from those indicated or implied by forward-looking statements and information. Such
factors include, among others: reliance on key management; changes in the credit or security
markets; results of operation activities; unanticipated costs and expenses; fluctuations in
commodity prices; and general market and industry conditions. The Company cautions that the
foregoing list of material factors is not exhaustive. When relying on the Company's forward-
looking statements and information to make decisions, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not
cause such forward-looking statements and information to differ materially from actual results or
events. The forward-looking information contained in this press release represents the
expectations of the Company as of the date of this press release and, accordingly, is subject to
change after such date. Readers should not place undue importance on forward looking
information and should not rely upon this information as of any other date. While the Company
may elect to, it does not undertake to update this information at any particular time except as
required in accordance with applicable laws.