Fitzroy Minerals Announces Warrant Exercise and Project Updates

VANCOUVER, BRITISH COLUMBIA — April 2, 2026 — Leads & Copy — Holders of 96% of the warrants issued in connection with Fitzroy Minerals Inc.’s private placement closed on March 28, 2024, have elected to exercise their warrants on or before the March 28, 2026 expiry date, the company announced today.

A total of 4,144,382 warrants and finder’s warrants have been exercised, generating proceeds of approximately C$1,036,096 million for Fitzroy Minerals (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y).

The company issued a total of 4,307,514 warrants and finder’s warrants as part of the private placement closed on March 28, 2024. Each warrant was exercisable to purchase one common share of the Company at an exercise price of $0.25 per share for two years from the closing of the private placement.

The proceeds from these warrant exercises, along with the most recent financing closed on March 13 and 19, 2026, will solidify the Company's financial position.

Fitzroy Minerals also issued a correction to its previous news releases dated March 13, 2026 and March 19, 2026. In the first tranche of the Company’s non-brokered private placement, the Company issued 5,980,000 common shares of the Company under the “listed issuer financing exemption” at a price of $0.50 per share, for aggregate gross proceeds of $2,990,000 to the Company and 31,880,000 units of the Company under other applicable prospectus exemptions, at a price of $0.50 per Unit, for aggregate gross proceeds of $15,940,000.

Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.80 per share for two years following the date of issuance of the Warrant.

Upon closing of the final tranche of the Private Placement, the Company issued a total of 8,810,000 shares at a price of $0.50 per share for aggregate gross proceeds of $4,405,000 and 33,500,000 Units at a price of $0.50 per Unit for aggregate gross proceeds of $16,750,000.

The Units (as well as the underlying Unit Shares, and any common shares issued upon exercise of the underlying Warrants) will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

“We are grateful for the support from our shareholders,” stated Campbell Smyth, Chairman of Fitzroy Minerals. “The exercise of over ninety six percent of the outstanding warrants in a period of extreme market volatility is a strong endorsement of our strategy and prospects. Fitzroy Minerals is progressing well with the Buen Retiro heap leach pre-feasibility study and the Company is well placed to accelerate our 2026 exploration programs at Buen Retiro and at Caballos.”

Fitzroy Minerals is now positioned to efficiently advance its drilling program underway at the Buen Retiro Copper Project near Copiapó, Chile, and the Caballos Copper Project in Valparaiso, Chile.

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 Buen Retiro Copper Project near Copiapó, Chile, the Caballos Copper and Polimet Gold-Copper-Silver projects in Valparaiso, Chile, the Taquetren Gold Project in Rio Negro, Argentina, and the Caribou Project in British Columbia, Canada.

All other information in the PP Releases remains unchanged.

Source: Fitzroy Minerals