Ccascabamba Target Area

Exploration History

Channel Sampling

Surface programs collecting soil, rock and channel samples were carried out over the Ccascabamba target area between 2016 and 2019. These programs defined broad zones of oxide copper and gold mineralization within erosional windows over numerous targets within the area. The work defines an area ~ 3 km long by ~ 1.5 km wide, demonstrating the large metal budget and size potential. Highlights include:

Sombrero Channel Sampling 2018: Copper & Gold Significant Intercepts*

Channel Sample	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)
18SRT-17	62	68	6	0.10	0.91
	136	142	6	0.19	0.04
	162	178	16	0.14	0.05
18SRT-18	14	30	16	0.47	0.10
	49	79	30	1.86	0.12
	79	104	not sampled	bedrock not encountered
	104	158	54	0.32	0.04
	182	206	24	0.66	0.11
	230	244	14	0.14	0.02

*No less than 5m of >= 0.1% Cu, maximum dilution 5m
The Company believes these channel samples represent true widths of the mineralized system.

Sombrero Fierrazo Target: Copper & Gold Significant Intercepts*

Channel Sample	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)
19SRT-20	178	362	184	0.47	0.16
Incl.	178	198	20	1.50	0.04
Incl.	222	246	24	0.70	0.09
Incl.	274	294	20	0.32	0.99
	464	474	10	0.22	0.02

*No less than 5m of >= 0.1% Cu, maximum dilution 6m

Geophysics

Mapping and sampling lead to an interpretation for a possible large scale mineralizing skarn system. Geophysical surveys provide key validation of this early exploration model. Magnetics and induced polarization (IP) data show strong correlations with geological mapping and surface mineralization. These studies identified large, magnetic, chargeability, and conductivity anomalies, suggesting the potential for buried copper-gold skarn systems beneath post-mineral cover.

Historical Drill Core

In April 2019, the Company obtained drill core from eight historical holes completed in 2013 by Aceros Arequipa S.A.C., a steel mining company, targeting iron skarn mineralization. Each hole intersected massive magnetite skarn with related Cu and Au mineralization. Collectively, the historical drill holes define a mineralized body totaling 200 – 300 metres of strike length with an average width of approximately 150 – 200 metres. The strike and dip limits of this body have yet to be defined.

Highlights include 116 metres of 0.42% copper and 0.24 g/t gold, 90.4 metres of 0.48% copper and 0.05 g/t gold, and 51 metres of 0.43% copper and 0.16 g/t gold.

Shallow Historical Drilling at Fierrazo Target*

Hole ID	Interval ^1,2 (m)	% Cu	g/t Au
FE-DDH-01A	90.4	0.48	0.05
Including	41.8	0.88	0.02
FE-DDH-02	51	0.43	0.16
Including	20.95	0.70	0.25
FE-DDH-03A	116	0.42	0.24
Including	64	0.64	0.38
FE-DDH-03B	50.8	0.44	0.15

* 2013 drilling completed by Aceros Arequipa only assayed for iron, resampled by Auryn in 2019 (See Auryn news release dated June 13, 2019)
1. No less than 5m of >= 0.1% Cu, maximum dilution 6 m (See technical disclosure on Auryn news release dated June 13, 2019)
2. True thickness of mineralization is unknown

Recent Exploration Activities

2024-2025 Phase 1 Drilling Program

Coppernico’s current DIA drill permit is valid for up to 49 holes to be drilled from 38 drill pads at the Ccascabamba target area and the Company commenced its inaugural diamond drill program in July 2024. Preliminary findings have provided valuable insights into the geological setting and potential of the project.

The program included 8,232.9 metres of diamond drilling over 20 holes designed to test large-scale geophysical and geochemical anomalies within the Ccascabamba target area. The results confirm broad intervals of copper-gold mineralization supporting the technical team’s skarn-porphyry geological model and reinforcing the district-scale potential of the Sombrero Project.

Disciplined, widely spaced drilling in 2024 provided an initial high-level picture of this extensive and polyphase skarn system.

Geological and geochemical results from the Phase 1 drill program (see table below) demonstrate continuity of copper-gold mineralization across broad intervals and multiple zones. Prospective contact zones between intrusive rocks and limestone indicate strong exploration potential which have been only partly tested with widely spaced holes, these areas will remain targets for future drill phases.

Results of the drilling are advancing an understanding of the 3-D architecture of the hydrothermal system and are beginning to define a variety of zonation patterns based on geochemistry and alteration minerals. The results of this drilling have defined numerous high priority targets for follow up drilling.

Drill Hole Highlights from Phase 1 Drill Program at Ccascabamba Target Area

Hole ID	From (m)	To (m)	Interval (m)	Cu %	Au (g/t)	Ag (g/t)
24SOM-004	5.75	33.20	27.45	0.21	0.10	1.60
	65.00	74.40	9.40	0.20	0.01	0.89
	91.95	111.10	19.15	0.50	0.01	1.82
	527.10	545.55	18.45	0.19	0.03	0.35
24SOM-007	112.20	119.90	7.70	0.24	0.05	1.42
24SOM-007	239.90	249.05	9.15	0.21	0.03	0.27
25SOM-013	33.65	43.5	9.85	0.26	0.46	1.42
25SOM-016	187.45	196.85	9.40	0.19	0.03	1.08
25SOM-017	221.50	239.6	18.10	0.18	0.70	1.93
25SOM-017	298.50	305.70	7.20	0.21	0.03	0.49
25SOM-018	17.00	38.85	21.85	0.22	0.05	0.92
Length and specific gravity (density) weighted assay results. True thickness unknown at time of reporting. Nearly all other drill holes intersected geochemically anomalous intervals which are useful for understanding the larger mineralizing system, however they did not meet the Company’s minimum reporting guidelines. No more than 6 m internal dilution (reported values below 0.2% Cu and/or 0.2 g/t Au). Minimum reporting length of 7 m.