Tribeca Resources Corporation Announced it has entered into a purchase option agreement with two groups of private owners to acquire a 100% interest in a 570 hectare property located in the established Mantoverde district of the Chilean Coastal Belt, 15 km and 21 km from Capstone Copper Corporation's Mantoverde mine and Santo Domingo project, respectively. The key terms under which Tribeca Resources has the right, but not the obligation, to acquire a 100% interest in the Chiricuto Property (the "Purchase Option") are as follows: Duration: 5-year option to purchase a 100% interest in the Chiricuto Property Option cost: Cash payment of USD 20,000 upon execution of the Agreement (paid) Purchase price: USD 0.01 per pound of contained copper equivalent metal contained in the Measured & Indicated categories of an independent NI 43-101 compliant MRE. Purchase price will be at least USD 1 million and will be capped at USD 10 million Holding costs: Tribeca Resources to pay annual concession fees (less than USD 20,000/year) Past annual concessions fees: Payment or reimbursement of certain past licence fees totalling approximately USD 23,000.Exploration Levy payments: Annual 5% Exploration Levy cash payments to the Project Vendors with guaranteed minimum payment of USD 20,000 and cumulative amount paid to the Project Vendors during the option period capped at USD 1 million Deliverables: To exercise its Purchase Option, Tribeca must have delivered an NI 43-101 compliant MRE (to a minimum Inferred level of confidence), and have completed at least 3,000 metres of drilling over the geophysical anomaly identified at the Chiricuto Property Extension right: Option period extendible to 6 years by paying the Project Vendors USD 50,000 and increasing the purchase price from USD 0.01 to USD 0.011 per pound of contained copper equivalent in the MRE NSR Royalty: If the Purchase Option is exercised, the Project Vendors retain a 0.5% NSR Royalty over the Chiricuto Property.

No repurchase rights are included. 50% of Chiricuto Property purchase price to count as credit towards the NSR Royalty. With the exception of the initial cash payment of USD 20,000 to the Project Vendors and the reimbursement of past concession fees, the foregoing exploration expenditures, payments and work commitments are optional; Tribeca Resources will not be obliged to make any payments, complete any work or deliver the MRE should it elect not to execute the Purchase Option.