Fitzroy Minerals Inc

Fitzroy Minerals Inc. Corporate Overview

Management & Leadership

Fitzroy Minerals is led by a seasoned executive team with extensive expertise in mineral exploration and corporate development. Merlin Marr-Johnson (President, CEO, and Director) brings over 25 years of experience in the resource sector, supported by multilingual capabilities and directorship roles. Campbell Smyth (Chairman) offers more than 30 years in resource finance and venture capital. Gilberto Schubert (COO and Country Manager), a former Vale executive, oversees project execution in Chile, while Queenie Kuang (CFO and Corporate Secretary), a CPA with 17 years of mining-sector financial governance, manages fiscal strategy.

Project Portfolio

Fitzroy’s assets focus on high-potential copper and gold systems in the Americas:

Buen Retiro Copper (Chile): The flagship project, acquired in 2025, has returned strong drill results, including 110 meters grading 1.94% copper, with high-grade zones of 58 meters at 3.06% copper. The company has committed to a US$7 million work program over four years.

Caballos Copper (Chile): A copper-molybdenum-gold-rhenium system with intercepts such as 200 meters at 0.83% copper equivalent.

Polimet Gold-Copper-Silver (Chile): An early-stage exploration target undergoing geophysical refinement.

Non-core assets: Includes the Taquetren Gold project in Argentina and the Cariboo project in Canada, with minimal current expenditure.

Financial Status & Runway

As of March 2025, Fitzroy held approximately CA$4.78 million in cash and cash equivalents, up from CA$1.63 million in September 2024. The six-month operating cash burn was CA$953,075, with exploration investments totaling CA$1.03 million. A CA$3 million private placement in March 2025 extended the company’s financial runway, supporting aggressive exploration through 2025. With no debt and strong liquidity, Fitzroy is well-positioned for near-term growth.

Near-Term Plans

Complete an 8,000-meter drilling campaign at Buen Retiro, focusing on near-surface oxide targets.

Evaluate a switch to RC drilling at Buen Retiro to accelerate exploration.

Advance drilling at Caballos and Polimet to define resource potential.

Long-Term Strategy

Develop Buen Retiro into a production-ready asset, leveraging its proximity to infrastructure in Copiapó.

Secure full ownership of Buen Retiro and Sierra Fritis through staged option payments.

Pursue strategic partnerships or royalty buybacks to optimize project economics.

Fitzroy Minerals combines high-potential copper projects in mining-friendly jurisdictions with a strong financial position and experienced leadership, positioning it for sustainable growth in the Americas.