Fitzroy Minerals Sees Strong Warrant Exercise, Bolstering Funding for Chilean Copper Projects

VANCOUVER, BRITISH COLUMBIA — October 1, 2026 — Leads & Copy — Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) announced that 98.95% of the warrants issued from its private placement on September 20, 2024, have been exercised by the September 20, 2026 expiry date.

The Company originally issued 6,323,911 warrants and finder’s warrants, each exercisable for one common share at $0.25 per share. A total of 6,257,243 warrants and finder’s warrants were exercised, generating approximately C$1,564,311 million for Fitzroy Minerals.

Campbell Smyth, Chairman of Fitzroy, stated that the high warrant exercise rate, especially during a volatile market, signifies strong shareholder confidence in the company's strategy. He added that Fitzroy Minerals is now sufficiently funded to reduce risks associated with the Buen Retiro heap leach development plan and to accelerate exploration at both the Buen Retiro and Caballos projects.

The influx of capital strengthens Fitzroy Minerals' financial standing, positioning it to advance its work programs at the Buen Retiro Copper Project near Copiapó, Chile, and the Caballos Copper Project in Valparaiso, Chile.

In a separate announcement, Fitzroy Minerals also granted 4,200,000 stock options to directors, officers, and consultants under its stock option plan. These options allow the purchase of up to 4,200,000 common shares at an exercise price of $0.455 per share, valid until October 1, 2031. All options vested immediately upon grant and are subject to a four-month-and-one-day hold period.

The grant of options to certain directors and officers is considered a related party transaction under Multilateral Instrument 61-101. However, Fitzroy Minerals is exempt from obtaining a formal valuation and minority shareholder approval due to its listing on a non-specified market and the fair market value of the options not exceeding 25% of the company's market capitalization.

Fitzroy Minerals is focused on copper exploration and development in Chile, with its primary assets being the Buen Retiro Copper Project and the Caballos Copper Project. The company's shares are traded on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under the symbol FTZFF.

Source: Fitzroy Minerals Inc.