Company Announcements

TSX-V: MSR

TORONTO , July 29, 2025 /CNW/ - Minsud Resources Corp.(TSXV: MSR) ("Minsud" or the "Company"), is pleased to announce the significant results received from its on-going drilling campaign at the Chita Valley Project in San Juan, Argentina. The active drilling program focuses on testing the extents of the NI43-101-compliant resource at the Chinchillones polymetallic (Cu-Au-Mo-Zn-Pb-Ag) deposit and the supergene-enriched PSU (Porphyry Chita Sur) porphyry Cu-Mo-Au deposit. These two deposits are open-pittable and are just two kilometers apart.

The active scout drilling program is also testing other compelling regional targets generated from ground-based exploration surveys. The robust exploration program employs detailed mapping in conjunction with rock sampling, Pole Dipole IP surveys and grid soil geochemistry.

Summary of the drilling results is shown in Table 1 below and drillhole locations are shown in Maps 1 and 2.

KEY DRILL RESULTS HIGHLIGHTS:

• At Chinchillones surrounds, the drillholes completed include CHDH25-150, CHDH25-151, CHDH25-152 which tested and confirmed the southwest continuity of the NE-trending, 2.0km-long and 0.9km-wide polymetallic zone. This zone hosts the High Zinc resource base portion of the Chinchillones polymetallic deposit (see 43-101 Technical report Mineral Resource Estimate for Chita valley Project dated January 17, 2025).

The High Zinc polymetallic resource, forming an important component to the overall Chinchillones deposit, has been reported to contain at both indicated and inferred categories of 41 Mt (0.72% Zn, 17.6 g/t Ag, 0.13 g/t Au and 0.18% Cu) and 79 Mt (0.79% Zn, 16.5 g/t Ag, 0.10 g/t Au and 0.21% Cu), respectively.

At CHDH25-151 (150°azimuth and 65°dip; total depth of 500.8m), mineralization from 152m to 320m is dominantly hosted in silicified sandstones (quartzites from Agua Negra Formation) and dacitic breccias. The sulfides, consisting of pyrite, sphalerite, tennantite occur as disseminations and in quartz veins. Mineralization is accompanied by pervasive kaolinite-illite-fine-grained clays.

At CHDH25-152 (135°azimuth and 60°dip;total depth of 600m), the discrete polymetallic veins yielded high-grade values of up to 756 g/t Ag, 1.08 g/t Au, 4.5% Zn, and 2.75% Pb (2m-interval sample from 70m), implying increasing silver endowment to the southwest, which is still largely untested by drilling and outside of the open-pit limit design. Host rocks include dacitic lithologies with associated hydrothermal breccias intruded into silicified quartzites.

Drillholes CHDH25-153 and CHDH25-154 were drilled 240m NE of the last fence of drillholes included in the maiden Chinchillones resource estimate.

Drillhole CHDH25-153 (150°azimuth and 65°dip; total depth of 492.6m) intersected mainly andesitic rocks and early diorite porphyry cut by intermediate sulfidation quartz-rhodochrosite veins with pyrite-sphalerite-chalcopyrite-galena-tennantite. Increased vein densities were observed in the intervals 180-210m and 300-330m.

Drillhole CHDH25-154 (320°azimuth and 60°dip; total depth of 510m) intersected lithologies similar to CHDH25-153 dominated by fine-grained andesitic rocks. Mineralization occurs as pervasive disseminations, as cavity-infill, as veins and linear vein breccias and along fractures. Veins contain rhodochrosite, sphalerite, galena, tennantite and chalcopyrite. Vein density increased at 100-120m, and 200-220m. Advanced argillic alteration consisting of secondary silica-pyrophyllite-kaolinite and pyrite generally accompanies the mineralization.

Thus, the polymetallic zone is demonstrably open to the SW and NE directions.

• At PSU (Chita Porphyry South) Surrounds, drillhole PSUDH25-155 is the first of the planned drillholes focused on expanding and in-filling the supergene-enriched, open-pittable PSU historical resource base (indicated resource category of 33Mt @0.43% Cu, 180 ppm Mo, 0.07 g/t Au and 2.28 g/t Ag and inferred category of 8.6Mt@ 0.4% Cu, 160 ppm Mo, 0.07 g/t Au and 1.73 g/t Ag (from NI 43-101 Technical report and Updated Mineral Resource Estimate on the Chita Valley Project, San Juan, 2018).

Drillhole PSUDH25-155 (315° azimuth and 60° dip; total depth of 321m), which is 120m outside of the projected 0.25% Cu isosurface derived from the historical resource estimation, intersected oxidised and argillic-altered dioritic porphyry (kaolinite-clays-illite) with abundant quartz-sulfides veining. Pyrite and chalcopyrite are replaced by chalcocite-digenite below the oxide zone at 53m. Quartz-molybdenite-chalcopyrite-pyrite veinlets become common from 124m.

Thus, the 32m @ 0.34% Cu and 58 ppm Mo within a wider interval of 120m @ 0.21% Cu and 77 ppm Mo from 22m demonstrated that the resource base of the supergene-enriched, open-pittable PSU deposit has the potential to be substantially expanded and upgraded.

Drillhole PSUDH25-156 (315°azimuth and 60°dip; total depth of 261m) intersected highly oxidised (jarosite-goethite) diorite porphyry to 53m and at depth, transitional to a sulfidic zone hosting porphyry-related veinlets (quartz-pyrite-chalcopyrite-molybdenite; B- and D-type veins) with the sulfides replaced by chalcocite and digenite. At 142m, the dioritic porphyry body is traversed by quartz stockworked zone of white mica-quartz-pyrite-chalcopyrite-molybdenite altered dacitic intrusion.

Drillhole PSUDH-157 (315°azimuth and60°dip; total depth of 252m) intersected dioritic porphyry from 3m characterised by a mixed zone of iron oxides (jarosite-goethite-hematite) with preserved sulfidic veins hosting pyrite-chalcopyrite and molybdenite. From 45m, the chalcocite-digenite replacement of sulfides become apparent. At depth from 98m through to 252m (end of hole) the lithologies become multi-phased with dacitic, andesitic and dioritic intrusion phases hosting copper sulfides.

Drillhole PSUDH-158 (135°azimuth and 60°dip; total depth of 314.2m) confirmed the extension of the higher-grade molybdenum zone (>200 ppm Mo) hosted in diorite porphyry and affected by supergene chalcocite-digenite in the mixed oxide-sulfide zone commencing from 25m through to 84m below surface. Thence through to the end of the drillhole, the dioritic host rocks exhibit phyllic (white mica-quartz-pyrite) overprint over potassic (secondary biotite-K-feldspar-magnetite) hosting quartz-molybdenite-chalcopyrite stockworked quartz veining (B-type porphyry-related veinlets).

The total iron mapped from Landsat 8 imageries (see Map 2 below) demonstrates coherent available total iron over PSU and extends farther south for at least 1.7 kilometres along strike. This significant total iron footprint is also coincident with structurally perturbed area, along the hanging wall to the NS-trending thrust fault, providing ideal environment for the development and transport of acidic fluids required for the dissolution and enrichment (vertical or lateral transport) of copper-bearing sulfides in the weathered profile. Interestingly, the high total Fe also affected the older Permian granitoids immediately to the east.

 Table 1:  Scout Diamond Drilling Program – Summary of Significant Results

(1) The true thicknesses are unknown

REGIONAL TARGETING HIGHLIGHTS

• Extensive geological, geophysical and geochemical synthesis confirms highly prospective >>6km-long, >2.0km-wide, ENE- to NE-trending polymetallic Miocene-aged corridor  (Map 3)

The detailed mapping at the Placetas area confirmed the presence of coeval dioritic and dacitic lithologies, similar to the host rocks hosting the Chinchillones polymetallic deposit. At Chinchillones, the high sulfidation mineralization, polymetallic intermediate sulfidation veins, linear breccias and porphyry-related B-, A-, C-type veins are apparently controlled by NE-, EW-trending faults occurring in a NE-trending, 2.0km-long and 0.9km-wide elongated polymetallic zone. These controlling structures, considered as potentially fluid and magma pathways, are also present at the Placetas area.

• At Placetas Central, compelling drill-ready targets (Map 4)

The results from the grid soil survey (206 samples;100m interval grid) highlights coherent coincident, at least 1km-long, 0.5km-wide Cu-Mo-Au anomalies. Importantly these multi-element anomalies coincide with an ENE-trending faulted zone separating the dioritic rocks in the NW with the dacitic rocks in the SE. This setting is highly reminiscent to the controls at the Chinchillones polymetallic deposit

There is a significant fault-controlled EW-trending magnetite-destructive elongated "doughnut" coincident with a mapped dioritic porphyry intrusion, emplaced amongst an older, bigger dioritic body. This mapped younger body is interpreted to represent a protruded dyke coming off a younger, productive intrusion at depth.

• At PSU Surrounds, valid targets to test continuity of Cu-Mo-Au mineralization and the presence of other intrusion centres (Maps 5 and 6)

The compiled surface geochemistry, magnetic-depleted zones and mapping around the PSU area indicate the southern area to the PSU requires drill-testing. The under-tested southern continuation of the supergene-enriched PSU (Porphyry Chita Sur) Cu-Mo-Au deposit measures 1.7km x 1.4km which can host substantial deposit/s.

The total iron mapped from Landsat 8 imageries demonstrates coherent available total iron over the PSU surrounds and extends farther south for more than one kilometre.

NEXT STEPS:

• Completion of the planned 5400m PSU expansion drilling
• A planned US$7.3 million budget from July 2025-June 2026 will include these exploratory activities:
  • an MT survey over 13,5kms x 8.0kms area encompassing all the principal target areas  
  • testing of the compelling drill-worthy targets at Placetas Central and PSU south prospect areas
  • expanded soil and rock geochemical survey, in conjunction with detailed mapping of the Chinchillones-Placetas corridor
  • Identification of targets based on the thorough integration of the results from geology-geochemical and geophysical surveys

COMMENT

Mr Ramiro Massa, Director at Minsud Resources, commented: "These latest exploration results further validate the scale and strategic significance of the Chinchillones–Placetas corridor. With multiple mineralized centres and substantial untested extensions, we believe this emerging district holds significant potential for the delineation of multiple mineralized systems. Together with South32, we remain fully committed to systematically advancing exploration and unlocking long-term value from this high-quality asset located in one of Argentina's most mining-friendly jurisdictions".

Quality Assurance/Quality Control

All core samples were cut and prepared on-site at the project area. The sample lengths were usually 2 m, except in areas with low recovery (loss areas, faults, etc.) and breaks from discrete principal geological features (e.g., vein, vein breccia). Drill core sizes of the drillholes included in this report: CHDH25-150 (HQ to 490.8m;NQ to 675m); CHDH25-151 (all HQ to 500m); CHDH25-152 (all HQ to 501m; NQ to 600m); CHDH25-153 (all HQ to 492.6m); CHDH25-154 (all HQ to 510m); PSUDH25-155 (all HQ to 321m); PSUDH25-156 (all HQ to 261m); PSUDH25-157 (all HQ to 252m); and PSUDH25-158 (all HQ to 314.2m).

Cutting was carried out by trained MSA personnel. Cores were split using the industry-standard Corewise automatic circular diamond blade rotary saw in the middle of the core, around 1 cm away from the core orientation mark. Half-core and duplicate samples, including all fragments, were placed in labelled plastic bags. Each had the sample number and was sealed using plastic security straps.

All core samples were submitted to the ALS Patagonia S.A. in Mendoza as the primary laboratory for sample preparation. This ISO 9001 accredited facility, with the prepared pulp samples sent to ALS Perú S.A. in Lima, Peru. The ALS Perú S.A. laboratory is accredited under ISO 9001:2008 and ISO 17025, ensuring compliance with international standards.

The analytical protocols are outlined as follows:

• ME-MS61 and ME-MS61m: Multitrace analysis of 48 elements with a 4-acid digestion. A prepared sample (0.25 g) is digested with perchloric, nitric, and hydrofluoric acids to dryness. The residue is taken up in a volume of 12.5 mL of 10 % hydrochloric acid. The resulting solution is analyzed by ICP-AES. Results are corrected for spectral interelement interference.
• ME-OG62: For samples over-limit, analysis is with four acid digestion using conventional ICPAES analysis for Ag, As, Cu, Mo, S, Pb, and Zn.
• Fire Assay Procedure Au-AA24 (50g): Gold is analyzed using a conventional fire assay fusion method with Atomic Absorption Spectroscopy (AAS).

Minsud followed industry standard procedures for the work with a quality assurance/quality control (QA/QC) program. Field duplicates, standards and blanks were included with all sample shipments to the principal laboratory. Minsud detected no significant QA/QC issues during review of the data.

Qualified Person (QP) Statement 

The scientific and technical information in this press release has been compiled, reviewed and approved by Dr Renato Bobis, MAusIMM CP (Geo), part-time VP-Exploration of the Company, and is a qualified person as defined by Canadian National Instrument 43-101.Dr Bobis has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person.

About the Chita Valley Project, San Juan Province 

The Chita Valley Project is a large exploration stage porphyry system with widespread porphyry style Cu-Mo-Au and polymetallic Ag-Pb-Zn mineralization hosted in multi-phased intrusions and country rocks with affiliated hydrothermal breccias. San Juan Province of Argentina has a robust mining sector and recognizes the important economic benefits of responsible development of its substantial mineral resource endowment. The Chita Valley Project is owned and managed by MSA, of which Minsud indirectly holds a 49.9% interest.  The other 50.1% interest in MSA is owned by a wholly owned subsidiary of South32 Limited ("South32"). Minsud and South32 entered into a shareholders' agreement to govern the management and operation of MSA which will include further exploration.   

About Minsud Resources Corp.  

Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX-V under the trading symbol "MSR", and on the OTCQX under the symbol "MDSQF". 

About South32 Limited 

South32 Limited ("South32") is a globally diversified mining and metals company. The company's purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come, and to be trusted by its owners and partners to realise the potential of their resources. South32 produces minerals and metals critical to the world's energy transition from operations across the Americas, Australia and Southern Africa and is discovering and responsibly developing its next generation of mines. South32 aspires to leave a positive legacy and build meaningful relationships with partners and communities to create brighter futures together.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Corporation may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; and the factors identified under "Risk Factors" in the Company's Filing Statement dated April 27, 2011. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Minsud Resources Corp.