Pampa Medina Scout Drilling Delivers Significant Oxide Extensions; Western Deep Sulphide Drilling Pending

Vancouver, British Columbia, January 26^th, 2026 – Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX:MARI, ASX:MC2) is pleased to announce results from the Phase II drilling campaign at the Pampa Medina deposit, located at low altitude approximately 28km east of the Company’s Marimaca Oxide Deposit (“MOD”) in a flat “pampa” valley within the Atacama Desert (Figure 1). The Phase II program consists of drilling on a 300m x 300m grid across a 1.6km by 1.4km area of interest. Drilling intersected significant extensions to the Pampa Medina oxide footprint in a new zone to the north-east. Deep sulphide drilling to the west is ongoing with assays pending for four deep drill holes. The company is also currently completing Inductively Coupled Plasma (ICP) assaying for its drilling completed to date at Pampa Medina to examine the potential for silver mineralization, particularly in higher grade sulphide zones. Silver is a common byproduct in Chilean manto-type copper systems.

Highlights

• North-east drill holes SMR-29 and SMRD-30 intersected broad zones (>100m) of oxide mineralization
  • Oxide intersections are approximately 800m from the historical oxide mineralization footprint at Pampa (see

Figure 2) in an area previously considered to be low potential given post-mineral uplifting to the east

• SMRD-30 intersected 162m of 0.61% Cu in oxides from 220m, including
  • 36m of 1.04% Cu from 228m, including
  • 12m of 2.02% Cu from 242m
  • 10m of 1.55% Cu from 372m
• SMR-29 intersected 116m of 0.51% Cu from 204m in oxides, including
  • 24m of 1.62% Cu from 296m, including
  • 16m of 2.13% Cu from 298m
• Holes SMRD-24 and SMRD-28, drilled west and east of the historical oxide footprint respectively on section

N7440500, were affected by post-mineral dykes in the target sedimentary horizon

• SMRD-24 intersected several mineralized intervals truncated by post-mineral dykes
  • 8m of 1.22% Cu from 288m
  • 6m of 1.99% Cu from 312m
  • 16m of 1.24% Cu from 394m
  • 6m of 1.14% Cu from 554m
  • 10m of 1.20% Cu from 606m
• SMRD-23 and SMRD-26 were drilled in the north-west and were impacted by late faulting, along with SMR-32

drilled in the south-west (see Figure 2)

• Four deep-sulphide exploration holes in the central, well defined east-west high-grade section are underway with

assays pending – SWRD-01, SWRD-02, SWRD-03 and SMRD-33 (see Figure 3)

• Given the clear potential for oxide growth at Pampa Medina, the Company is re-evaluating the scope of the Pampa

Oxide Preliminary Economic Assessment to evaluate the opportunity to increase the scale considered in the study to capture a potentially larger oxide opportunity

• ICP analysis is currently underway for the Pampa Medina 2025 sample database to test the potential for auxiliary

silver mineralization, which is typical in the coastal cordillera manto deposits, and is present within deposit like Cachorro (Antofagasta Minerals) and Mantos Blancos (Capstone) (see Figure 1)

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“Our understanding of this unique deposit is constantly improving as we move into the Phase II exploration program. In addition to the exciting sulphide target, there is a compelling opportunity to expand the known oxide mineralization at Pampa. We expect these oxides to be highly complementary to our existing resources at the Marimaca Oxide Deposit with clear potential for both scale and mine life expansion.”

“The previous interpretation of the north-east areas of Pampa Medina indicated low potential for mineralization given significant uplifting of the sedimentary sequences to the east. However, holes SMR-29 and SMRD-30 demonstrate that uplifting may be localized in smaller fault blocks, leaving intact mineralized sequence potential to the north-east.” “In the west, our deep sulphide exploration in the high-grade section N7440800 is progressing well. We are targeting the deep extensions of high-grade bornite-chalcopyrite dominant mineralization in the host sediments and are looking forward to updating the market accordingly.”

Overview of Pampa Medina

Pampa Medina is a stratiform manto-style copper deposit dominantly hosted in Jurassic-Triassic sedimentary units (sandstones, conglomerates, tuffs and black shales) overlain by andesitic volcanics and underlain by an Upper Paleozoic complex of metamorphosed sediments, volcanics and intrusions. Key lithological units are intruded by a dyke swarm and affected by post mineral normal faulting. Copper was originally identified in near-surface oxide mineralization dominated by atacamite, chrysocolla and both secondary and primary chalcocite, and has now been identified in high-grade zones of bornite and chalcopyrite which extend at depth beyond the oxide-primary transition.

Following Marimaca’s consolidation of the project area and surrounding land packages in 2024, the Company reinterpreted all available geological information and developed an updated geological model for Pampa Medina, which identified the lower sedimentary units of interbedded sandstones, shales and conglomerates as the productive horizons for future drill targeting. Oxide copper mineralization was logged in historical drilling in near-surface, uplifted blocks, with the model of continuity in the intact lithological sequence in deeper blocks for primary mineralization to be tested by Marimaca’s 2025 and 2026 drilling campaigns. In addition to the sulphide extensions, the Marimaca discovery drilling has identified opportunities for significant extensions to the oxide footprint of the deposit, most notably to the north and west, which will be followed up on during the Phase II program (30,000m).

25km

Figure 1: Regional Map – Marimaca, Pampa Medina and Regional Infrastructure

Figure 2 – Pampa Medina Deposit and Step-out Drilling Locations

Figure 3 – Cross Section Looking North – Pampa Medina 7,440,800 N

Hole		Total		From (m)	To (m)		Intersection	% CuT
		Depth (m)					(m)
SMRD-23	900			242	264	22		0.53
			Including	256	264	8		1.19
			Including	426	432	6		0.58
SMRD-24	648			288	356	68		0.44
			Including	288	296	8		1.22
			Including	312	318	6		1.99
				394	410	16		1.24
				554	560	6		1.14
				588	620	32		0.57
			Including	606	616	10		1.20
SMR-25	610			No significant intercepts
SMRD-26	952			344	350	6		0.46
				586	598	12		0.41
				814	818	4		1.28
SMR-27	550			No significant intercepts
SMRD-28	820			386	398	12		0.59
				494	504	10		0.47
SMR-29	618			204	320	116		0.51
			Including	296	320	24		1.62
			Including	296	312	16		2.13
SMRD-30	863.4			220	382	162		0.61
			Including	228	264	36		1.04
			Including	242	254	12		2.02
			And	372	382	10		1.55
				448	454	6		0.80
				504	538	34		0.44
SMR-31	576			No significant intercepts
SMR-32	570			234	262	28		0.45
				270	290	20		0.73
				484	494	10		0.74

Table 1: Table of Intersections

Hole ID	TYPE	Easting	Northing	Elevation	Azimuth	Dip	Depth
SMR-25	RC	407599.07	7440503.05	1267.23	270	-60	610
SMR-27	RC	407598.94	7440199.74	1265.74	270	-60	550
SMR-29	RC	407698.57	7441400.97	1269.99	270	-60	618
SMR-31	RC	407300.89	7440201.67	1266.54	270	-60	576
SMR-32	RC	406500.41	7440201.86	1277.38	270	-60	570
SMRD-23	RCD	406800.91	7441403.33	1276.43	270	-60	900
SMRD-24	RCD	406699.14	7440503.83	1275.95	270	-60	648
SMRD-26	RCD	406497.39	7441404.49	1285.07	270	-55	952
SMRD-28	RCD	407286.4	7440503.51	1266.5	270	-55	820
SMRD-30	RCD	407400.13	7441401.83	1269.05	270	-55	863.4

Table 2: Drill Collars

Sampling and Assay Protocols

True widths are estimated as 85% of reported intervals, based on down-hole bedding and structural measurements. DDH holes were sampled on a 2m continuous basis, halved by a conventional core splitter on site with one half sent to the Andes Analytical Assay preparation laboratory in Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying. Samples were prepared using the following standard protocol: drying; crushing all sample to -1/4” and passing through a secondary crusher to better than 80% passing -10#; homogenizing; splitting; pulverizing a 400-600g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for %CuT (total copper); %CuS (acid soluble copper). A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Marimaca Copper for future reference.

Qualified Person / Competent Person

The technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 40 years of experience and a member of the Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the purposes of NI 43-101 responsible for the design and execution of the drilling program.

The information in this announcement which relates to exploration results for the Pampa Medina Project is based on, and fairly reflects, information and supporting documentation prepared by Sergio Rivera, VP Exploration of Marimaca, a Competent Person who is a member of the Comision Minera (Chilean Mining Commission), Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile. Mr. Rivera has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rivera consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Contact Information

For further information please visit www.marimaca.com or contact:

Tavistock +44 (0) 207 920 3150

Emily Moss [email protected]

Forward Looking Statements

This news release includes certain “forward-looking statements” under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development of activities at Pampa Medina, the potential growth of Pampa Medina, and the discovery’s potential to complement the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at Pampa Medina will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

This announcement was authorised for release to the ASX by the Board of Directors of the Company.

Appendix 1 – JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)

Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary

• Nature and quality of sampling (eg cut channels, random chips, or

Sampling

specific specialised industry standard measurement tools appropriate All current drilling conducted at Sierra Medina (including Pampa Medina,

techniques

to the minerals under investigation, such as down hole gamma Pampa Norte Extension and Pampa West) was completed under the sondes, or handheld XRF instruments, etc). These examples should supervision of a registered professional geologist as a Competent Person/Qualified Person (QP) who is responsible and accountable for the not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity planning, execution, and supervision of all exploration activity as well as and the appropriate calibration of any measurement tools or systems the implementation of quality assurance programs and reporting. used.
  • Drilling reported is Reverse Circulation “RC” and Diamond (“DDH”)
• Aspects of the determination of mineralisation that are Material to the drilling Public Report.
  • Assay samples were prepared at a laboratory site in Copiapó and
• In cases where ‘industry standard’ work has been done this would be assayed by Andes Analytical Assay Ltd. (AAA) in Santiago.

relatively simple (eg ‘reverse circulation drilling was used to obtain 1

• Sierra Medina´s DDH holes are drilled and sampled on a continuous

m samples from which 3 kg was pulverised to produce a 30 g charge 2-meter basis, halved by a conventional core splitter on site, with one for fire assay’). In other cases more explanation may be required, half sent to the Andes Analytical Assay preparation laboratory in such as where there is coarse gold that has inherent sampling Copiapó and the pulps then sent to the same company laboratory in problems. Unusual commodities or mineralisation types (eg Santiago for assaying.

submarine nodules) may warrant disclosure of detailed information.

• Marimaca RC holes are drilled and sampled on a continuous 2-meter basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.
• Marimaca staff supervised all the drilling and sampling.
• DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.
• DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.
• Measured recoveries are over 95% for DDH drilling, without significant variations and unrelated to copper grades.
• RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.
• RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.
• Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.

Drilling • Drill type (eg core, reverse circulation, open-hole hammer, rotary air • Drilling reported is both DDH and RC drilling blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple techniques • DDH drilling is drilled in HQ and NQ standard core diameters or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

Drill sample • Method of recording and assessing core and chip sample recoveries • Sierra Medina´s DDH holes are drilled and sampled on a continuous and results assessed. 2-meter basis, halved by a conventional core splitter on site, with one

recovery

• Measures taken to maximise sample recovery and ensure half sent to the Andes Analytical Assay preparation laboratory in representative nature of the samples. Copiapó and the pulps then sent to the same company laboratory in Santiago for assaying.
• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential • Marimaca RC holes are drilled and sampled on a continuous 2-meter loss/gain of fine/coarse material. basis and riffle split on site up to one-eighth (12.5%) of its volume, after which samples are sent for preparation and assaying.
  • Marimaca staff supervised all the drilling and sampling.
  • DD recoveries were controlled by accurate core recovery measurement control was extended toward the division process realized in the drill location.
  • DD recoveries were measured by core length measurement and compared with the effective core run. Marimaca technical staff checked all data.
  • RC recoveries were controlled by weighing samples and accurate control was extended toward the division process realized in the drill location.
  • RC recoveries were measured in weight percent as compared with a theoretical sample weight. Marimaca technical staff checked all data.
  • Measured recoveries are over 95% for RC drilling, without significant variations and unrelated to copper grades.

Logging • Whether core and chip samples have been geologically and • All holes were geologically logged on digital data capture.

geotechnically logged to a level of detail to support appropriate • The data collected are rock, structure, alteration and mineralization Mineral Resource estimation, mining studies and metallurgical based on drilling intervals, recoveries and analytical results. studies. • After validation, the mineral and alteration zones were defined.

• Whether logging is qualitative or quantitative in nature. Core (or • The results were entered in the database as a table with all mapped costean, channel, etc) photography. data and a consolidated log of the drill was prepared.
• The total length and percentage of the relevant intersections logged. • Most of this work was done by experienced senior consultant geologist supported by consultant junior geologist.
  • In addition to measuring deviations, most of the holes were surveyed using an optical tele viewer (OPTV or BHTV), with structures and orientation measurements, which continuously and thoroughly recorded the holes’ walls and measured structures.
  • The structures were measured in ranks according to their width and the results were reported and plotted on stereographic networks and rosette diagrams.

Sub- • If core, whether cut or sawn and whether quarter, half or all core • Sierra Medina´s DDH holes are drilled and sampled on a continuous taken. 2-meter basis, halved by a conventional core splitter on site, with one

sampling

• If non-core, whether riffled, tube sampled, rotary split, etc and half sent to the Andes Analytical Assay preparation laboratory in

techniques

whether sampled wet or dry. Copiapó and the pulps then sent to the same company laboratory in

and sample

Santiago for assaying

• For all sample types, the nature, quality and appropriateness of the

preparation

sample preparation technique. • The last split yields “sample A”, which is sent for preparation and

• Quality control procedures adopted for all sub-sampling stages to assaying, and “sample B”, which is used to obtain drill cuttings (1 kg) and coarse/preparation duplicates and then stored in special facilities maximise representivity of samples.

on site.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field • DDH samples are obtained every 2 meters from a half-core, with the other half stored on site.

duplicate/second-half sampling.