Minsud Resources Corp. announce the receipt of assay results from the ongoing Phase IV scout drilling program at the Chita Valley Project, San Juan province, Argentina. To date, the Phase IV program has completed 28 drillholes for 19,058m.

Assay results have been recently received from an additional nine drillholes totaling 6,179m, specifically from drillholes CHDH22- 60 through to CHDH22-65, and CHDH23-66 to CHDH23-68. The drilling campaign is ongoing, with two drillholes currently being drilled and two more awaiting assay results. To support the continued progress of the program, two drill rigs are currently in operation.

Chinchillones Second Porphyry Cu-Au-Ag-Mo: The drilling results of these additional nine drillholes completes the program which commenced in 2022 and includes the first three drillholes of the 2023 program. These newly drilled holes have confirmed the presence of mineralized intrusive bodies hosting porphyry-style Cu-Au-Mo-Ag at depth, beneath the high sulfidation mineralization intersected near surface. The results from CHDH22-62 are highly significant as they reveal the presence of a Cu-Au-rich intrusive body with tonalitic composition that differs both compositionally and texturally from the principal dioritic porphyry Cu-Mo body at Chinchillones.

This auriferous porphyry traverses a larger mineralized porphyry Cu-Mo body at depth, and importantly, the mineralized porphyry column, which consistently exhibits high Cu grades, is open to at least 850m. Near the surface, an affiliated alteration- mineralization footprint is present, characterized by an extensive zone of advanced argillic alteration (pyrophyllite-kaolinite-silica-alunite) that trends broadly NNE, with a strike length of at least 700m and 450m width. Drillholes CHDH22-62 and CHDH22-57 now validate the unequivocal presence of a second tonalitic porphyry, which is associated with intra-mineral dacitic bodies.

The central porphyry at Chinchillones is believed to be an earlier phase, occurring as roof pendants and angular clasts to the tonalite porphyry- associated dacitic volcanic unit. This provides unequivocal temporal separation between the two productive porphyries, further supporting the interpretation of distinct mineralizing events. Significant porphyry Cu-Mo-Au mineralization intervals for drillhole CHDH22-62: 518m at 0.34% Cu, 0.13 g/t Au, 4.40 g/t Ag, and 33ppm Mo, from 330m (open at depth) including 86m at 0.94% Cu, 0.38 g/t Au, 5.56 g/t Ag, from 746m highlighting higher-grade gold and coincident copper mineralization.

In 2023, a second, more powerful drill rig was mobilized to the project to complete deeper drillholes (>1,000m) in order to test and extend the porphyry mineralization of several drillholes that ended in mineralization. Near the surface, a high sulfidation system is present, which is characterized by pervasive sulfidic replacement of host rocks, massive sulfidic pods/lenses, pervasive sulfidic disseminations, and sulfides in-filling hydrothermal breccia matrix. The sulfides comprise of varying amounts of pyrite, chalcopyrite, covellite, tennantite, enargite, chalcocite, digenite, bornite, sphalerite, galena, calaverite, and hessite.

The drillhole CHDH22-64 has further expanded the extent of Cu-Mo mineralization encountered by the previously reported drillholes. 311m at 0.19% Cu, 0.02 g/t Au, 2.36 g/t Ag and 513ppm Mo from 560m (open at depth) including 75m at 0.15% Cu, 1,095 ppm Mo and 0.19 ppm Re from 796m highlighting higher- grade molybdenum and coincident rhenium mineralization. drillhole terminated in an intra-mineral hydrothermal breccia, which notably contains fragments of angular to sub-rounded clasts of both tonalite and diorite porphyries.

In the last 200 meters, there is remnant potassic alteration with moderate intensity phyllic overprint. Notable features include the presence of stockworked quartz-molybdenite-pyrite-chalcopyrite veinlets, porphyry-related B and A veins, and K-feldspar veinlets.