Culpeo Minerals Limited announced that it has intersected 250 metres of visible copper sulphide mineralisation in the first hole (CMLCD010) of the Phase 2 drilling program at its Lana Corina Project in Chile. Phase 2 Drilling Program: The first hole of the Phase 2 drilling program (CMLCD010) was drilled from the east of the Corina breccia pipe and targeted an area of the mineralised system that has not been previously tested. Historical drilling indicated that strong potential existed below and to the west of the Corina pipe.

CMLCD010 has intersected significant visual copper sulphide mineralization hosted within breccias, veins and disseminated within the underlying quartz-feldspar porphyry. Visible chalcopyrite was recognized in the geological logging from approximately 150m down hole to the current depth of 400m. The Phase 2 drilling is planned to consist of approximately 9-10 holes totaling 5,000 meters of drilling which will systematically explore and define mineralisation at Lana Corina, with the aim of increasing the size of the copper and molybdenum mineralised footprint already defined.

Drilling will focus on expanding the known high-grade mineralisation, testing the near surface breccia targets and initial drill testing of district targets. With the aim of maximising the outcomes of the Phase 2 drilling program, Culpeo's field team has recently completed a detailed core re-logging and geological modeling exercise. Results of this work have shown strong supporting evidence that the Company's exploration model of a substantial fertile magma chamber driving the near surface high grade mineralisation is appropriate (Figure 6).

Additionally, these technical studies have helped to identify the potential size of the mineralised system at Lana Corina and will assist in defining the location of the heat source and vectoring towards additional mineralisation. The results of the Phase 2 drilling program, together with the first phase, will continue to build upon the understanding of this newly discovered significant mineralised system at Lana Corina.