Ann: Significant Cobalt Mineralisation Potential at BHA Project, page-29

Castillo Copper’s CEO Dr Dennis Jensen commented: “Preliminary
interpretations from analysing assayed drillhole data collected so far suggests
cobalt mineralisation is within four zones down to a relative shallow 70m, with
coincident base metal occurrences. This is encouraging as our geology team
have now coded over 70% of the 6,182 drill-holes within the East Zone (BHA
Project) 1 and will shortly commence modelling a JORC 2012 compliant inferred
mineral resource estimate (MRE) focused on cobalt with potential for base and
precious metal (copper and gold) credits. In addition, the target area to be
modelled is 2.5km long by 600m wide and located in the tenure’s south-east
quadrant (Figure 1). In the Board’s view, uncovering and leveraging high-
quality legacy assays to potentially model up a JORC 2012 compliant MRE
can materially advance the East Zone and create value for shareholders.”
***
FIGURE 1: EAST ZONE, BHA PROJECT – TARGET AREA
Source: CCZ geology team

o Preliminary interpretations, based on analysing assayed drill-hole
data, suggests cobalt mineralisation, with coincident base metal
occurrences, is within four zones down to a relatively shallow 70m

o Over 70% of 6,182 drill-holes1 are now coded, which should enable
work on modelling a JORC 2012 compliant MRE focused on cobalt
with potential for base metal credits, to commence shortly

o The ability to leverage legacy data to potentially model a JORC 2012
MRE is a win-win, as it can fast-track developing the BHA Project at
a negligible cost and create material value for shareholders
Line 1800E