# Mirasol Resources (TSXV:MRZ) > Mirasol is a gold, silver and copper exploration company with projects in the Atacama-Puna region of Chile and the Santa Cruz Province of Argentina. ## About Mirasol is a gold, silver and copper exploration company with projects in the Atacama-Puna region of Chile and the Santa Cruz Province of Argentina. The company employs a joint venture business model for large-scale, high-risk targets while also conducting self-funded drill testing on selected high-grade targets. Mirasol is well-funded and collaborates with major mining companies like Newcrest and First Quantum to execute substantial exploration programs. Their vision is to be a leading Project Generator and Explorer in the Americas, focusing on value creation through the discovery of world-class mineral deposits. ## Key facts - **Cash position:** C$5.1 Million - **Shares outstanding:** 81M - **Fully diluted shares:** 89M - **Warrants:** Not available - **Options:** Not available - **Mineral resource:** Sobek Project Overview: Property Type Porphyry Cu Project Size 9,640 ha, 100% owned Sobek Property 4,600 ha, 80% earn-in Rosita Property with SQM Status Self funded Exploration Exploration Stage Pre-drilling Field evaluation underway with geochemical sampling and detailed geological mapping Helicopter supported aeromagnetic (“MAG”) survey completed Location Mio-Pliocene age mineral belt in northern Chile 7 km west of Filo del Sol and 3 km west of new Lunahuasi discovery by NGEx Minerals The Sobek Cu project (“Sobek”) was staked by Mirasol in 2016 based on prospective local structural architecture hosted within a highly prospective and productive geological terrain. An important north-northeast trending mineralized structural corridor encapsulates a large part of the Sobek package, that is crosscut by a series of north-northwest trending deep seated trans-cordilleran lineaments evident through the entire property. In addition, the tenure is host to prospective Miocene/Pliocene aged geological units and intriguing satellite image ASTER alteration responses. The Sobek land position was expanded in 2021 and 2022 following significant results reported by Filo Mining Corp. from its Filo del Sol project located 5 km to the east of Sobek, which included a remarkable intercept of 858m at 1.80% CuEq (including 163m at 5.43% CuEq)[1]. The high-profile Vicuña Copper-Gold-Silver District is developing in the Sobek area with multiple deposits located in close proximity, including the Josemaria and Los Helados porphyry Cu-Au deposits located 10 km east-northeast and 20 km north of Sobek, respectively. The recent NGEx discovery at Lunahuasi (formerly Potro Cliffs) is just three km directly east of the southeast corner of Sobek North Block. Mirasol controls 22,840 ha of exploration claims in this district in four strategic blocks, the North, Central and South blocks and the Rosita Property, that are all on the Chilean side of the border with Argentina. Strategic Expansion of the Sobek Property with the Addition of the SQM Rosita Property Mirasol signed a landmark option agreement with Sociedad Química y Minera de Chile SA (“SQM”) doubling the size of the flagship Sobek Project in the Vicuña Copper-Gold-Silver District of northeast Chile (news release February 14, 2024). The SQM Property (“Rosita”) covers 11,500 ha extending the Sobek Project to the west and to the east, and importantly unifying the Sobek Central block with the Sobek North block. The combined property has doubled Mirasol’s land holding in the district for a total of 22,840 ha. The eastern portion of the Rosita property positions Mirasol within 3 km of the giant Filo Del Sol Project and the Sobek North block is 3 km from Lunahuasi discovery both within the heart of the Vicuña Copper-Gold district. SQM has granted Mirasol the exclusive option to earn 80% of the Rosita Project, subject to a 2.0% NSR royalty, by Incurring US$4 million in exploration expenditures and making annual option fee payments for a total of US$3 million scheduled over 6 years. Active Partnership Projects Overview: Claudia Overview: Property Type LSE Gold Silver Project Size 69,388 ha Status Optioned to Cerro Vanguardia SA Gold-Silver Mine Exploration Stage Drilling, geological mapping, geophysical surveys Location Located in the Deseado Massif, in the Santa Cruz Province, Argentina Adjacent on the southern border of the producing Cerro Vanguardia gold-silver mine (Anglogold Ashanti/ Fomicruz S.E.) The extensive Claudia Gold Silver Project which lies directly south of the Cerro Vanguardia (CVSA) gold-silver mine has five epithermal prospects with multiple targets. The Claudia project was staked in 2004 as part of Mirasol’s Santa Cruz project generation strategy. Following up reconnaissance targets identified additional mineralization centres that led to more staking and the establishment of a sizeable land position. In 2012 Mirasol discovered the large 15 km long Curahue vein trend which hosts six large individual vein trends. During October 2017 through March 2019, Mirasol partnered with OceanaGold who invested C$2 million and drilled 2,500 m in 12 holes at Claudia. From February 2016 to January 2017, Mirasol was in a joint venture with CVSA which completed 7,525 m of reverse-circulation (RC) and diamond core (DDH) drilling at the project. The drilling was mostly focused on the “Io” vein, a 2.2 km long vein zone in the Curahue prospect where CVSA defined a body of gold and silver mineralization. During the 2008 through 2010 joint venture with Hochschild, more than 4,000 line kilometres of ground magnetometry, and 249 line kilometres of gradient array IP geophysics covering six blocks was conducted, along with 1,155 rock chip samples and MMI geochemistry. A total of 3,794 metres of core drilling in 26 holes were completed in December 2007, and 3,168 metres of reverse circulation (RC) drilling in 25 holes was completed in December 2008. Virginia Project Overview: Property Type LSE Silver Project Size 74,429 ha Status 100% owned and operated by Mirasol Exploration Stage New Updated NI 43-101 Resource Estimate (Nov 9, 2023)[1] Indicated: 11.7 Million oz contained within 1.016 Mt at 357 g/t Ag Inferred: 7.9 Million oz contained within 1.326 Mt at 184 g/t Ag High-grade silver in nearby prospects and vein structures remain to be tested Location Located in the prolific epithermal province of Santa Cruz, Argentina Approx. 100 km south of Newmont’s Cerro Negro MineMirasol discovered the Virginia silver deposit in 2009 following-up a high-priority reconnaissance target identified by its generative team. Mineralization at Virginia consists of high-grade vein/breccia structures most of which outcrop on surface. After drilling at Virginia from 2010 to 2012, Mirasol completed a NI 43-101 Resource Estimate report (amended and filed in 2016). Mirasol later expanded its claims holdings at the project and in 2018 announced that high-grade silver assays were returned from three new reconnaissance target areas located to the south and southeast of the resource drilling, suggesting that further exploration may identify new veins and expand the size of the Virginia silver district. Mirasol later expanded its claims holdings at the project and in 2018 announced that high-grade silver assays were returned from three new reconnaissance target areas located to the south and southeast of the resource drilling, suggesting that further exploration may identify new veins and expand the size of the Virginia silver district. Mirasol completed 4 phases of exploration programs from 2020 to 2022 at Virginia, which encompassed 70 drill holes for a total of 10,250m of drilling, 2,300m of trenching and 190km of IP geophysics. The drill programs confirmed the potential to identify new well-mineralized structures and the potential for new mineralization to be defined in the system at the Ely Central, Ely North, Martina NW, Margarita and Julia South targets. Mirasol also completed maiden drilling at the Santa Rita Central and East prospects. Mirasol first discovered the Virginia silver deposit in 2009, following-up a high-priority reconnaissance target identified by its generative team. Over the next few years, Mirasol defined high-grade, intermediate sulfidation epithermal style mineralization in a series of prominent outcrops of vein-breccia that are associated with a rhyolitic volcanic flow dome field. Rock chip and saw-cut channel sampling over these outcrops defined significant strike lengths of continuously mineralized vein-breccia, with many samples assaying over 1,000 g/t Ag. From 2010 to 2012, Mirasol completed a series of drill programs at the project, drilling a total of 23,318 m of diamond core in 223 holes, testing the mineralized structures to a maximum depth of 266 m. This work was followed by the filing of an amended NI 43-101 Resource Estimate report in 2016 defining seven outcropping bodies of high-grade silver mineralization, constrained[1] within conceptual pits, with an indicated mineral resource of 11.9 million ounces of silver at 310 g/t Ag and a further inferred 3.1 million ounces of silver at 207 g/t Ag (amended NI 43 -101 technical report filed February 29, 2016). Later that year, Mirasol reported that preliminary prospecting of new claims identified quartz vein and vein-breccia rock float, scattered along a 2 km trend. With a strong belief in the exploration potential of the Virginia district, Mirasol further expanded its property holdings in 2017 with an extra 27,017 ha of claims to the south of the limit of the previous drilling. In May 2018, high-grade silver assay results were reported from the additional prospecting of three new target areas, suggesting the potential for an unrecognized, shallow soil covered, high-grade mineralization that would expand the potential of the Virginia silver project. Exploration Program under Option Agreement with Silver Sands (2020-2022) In late 2020, Mirasol completed the Phase I exploration program at Virginia, under the partnership with Silver Sands, that tested the potential for new high-grade silver zones to expand on the existing NI 43-101 resource. The program comprised a total of 2,831m in 18 diamond drill holes, which was 331m more than originally planned. The results confirmed the potential to identify new well-mineralized structures that do not outcrop on surface and the potential to identify new well-mineralized structures that were not previously included in hte current resource estimate. See news release January 21, 2021 and February 23, 2021 for more details on the drill program. Notable intersects from the Phase I drill program include: Martina: 33.5m at 198.51 g/t Ag, including 17.7m at 316 g/t Ag Ely Central: 9.25m at 233.54 g/t Ag, including 4.5m at 441.71 g/t Ag Julia South: 8.50m at 123.43 g/t Ag, including 3.90m at 168.34 g/t Ag Martina SE: 16.05m at 63.97 g/t Ag including 0.90m at 352.32 g/t Ag In May 2021, Mirasol reported on the results from the Phase II drilling program at Virginia, which encompassed 20 drill holes for a total of 3,104m. The program was designed both to follow-up on encouraging Phase I intersections and to test several new prospective zones. This program led to the discovery of a new high-grade zone at Ely Central, where drilling has intersected strong and continuous Ag grades in four drill holes over a 200m strike length. Mineralization remains open to expansion both laterally to the north, south and to depth. Significant intercepts have also been encountered at the Ely North, Martina NW and Julia South targets, confirming that the potential for new mineralization to be defined in this system. See news release May 17, 2021 for more details on the drill program. Highlighted intercepts from the Phase II program at Ely Central include: 9.98m at 560 g/t Ag, including 2.87m at 1,578 g/t Ag 9.60m at 639 g/t Ag 10.80m at 625 g/t Ag, including 5.70m at 1,110 g/t Ag The results from Phase I and II exploration programs, which included drilling, mechanical trenching, sampling and geophysical surveys, were reviewed for planning the 2,700m Phase III program which was completed in Q4 2021. At the main Virginia vein field, high-grade mineralization was discovered on the Margarita vein trend in a single core hole intersecting 2.63m at 1,456 g/t Ag. This hole was collared to follow up on elevated Ag results in trenches and float-block sampling on surface and represents the first mineralized interval from this new target. This confirms the prospectivity of the Margarita target and opens a new mineralized trend to be aggressively explored along strike and at depth. At the Martina NW target, two holes were collared to test the depth extent of the mineralized polymictic hydrothermal breccia structure that was previously drilled. A drill hole was targeted at the Martina NW structure at 107m below surface and intercepted the same breccia structure. Unfortunately, core recuperation in this drill hole was poor within the mineralized zone (<50%) and a second drill hole was completed at a shallower dip and intersected 4.75m at 242 g/t Ag, including 2.45m at 404 g/t Ag, 68m vertically below surface. The results from Martina NW are very encouraging as these new intersections support the potential to increase the mineral resource along this trend (news release February 1, 2022). At Ely, continued drilling returned a broad interval of 33.8m at 88 g/t Ag from 71.3m which successfully closes the gap between the mineralized structure delineated last season at Ely Central and Ely North. In addition, Au mineralization was intercepted with hole EC-DDH-007 which returned 4.55m at 0.33 g/t Au and 30 g/t Ag from 173.65m (including 1.2m at 0.63 g/t Au and 26 g/t Ag). The presence of this Au pulse may indicate the introduction of a stronger and more consistent gold-rich pulse in the deeper parts of the Virginia vein system that could potentially add significant Au credits to the project (news release January 25, 2022). At Santa Rita Central and East, the maiden drilling intercepted encouraging Au and Ag mineralization confirming that the structures mapped and sampled on surface extend to depth, providing vectors for further deeper drilling. The Santa Rita prospects have low sulfidation epithermal mineralization signatures characterized by elevated Au values compared to those returned from the main silver-rich Virginia vein field. The best results were obtained at Santa Rita East with two drill holes 50m apart returned 5.65m at 0.68 g/t Au from 35.65m, including 1.35m at 1.87 g/t Au and 5.20m at 0.63 g/t Au and 7 g/t Ag from 35.30m (news release February 10, 2022). Phase III of the program included 20 drill holes completed at Virginia and the Santa Rita Prospect, located in the north of the property package. At the main Virginia vein field, high-grade mineralization was discovered on the Margarita vein trend in a single diamond drill hole intersecting 2.63m at 1,456 g/t Ag. This intercept represented the first mineralized interval from this new target and effectively indicates the potential for a new mineralized trend along strike and at depth (news release February 1, 2022). At the Martina Northwest target, two holes were collared to test the depth extent of a mineralized polymictic hydrothermal breccia structure that was previously drilled. The second drill hole completed at a shallow dip successfully intersected 4.75m at 242 g/t Ag, including 2.45m at 404 g/t Ag, 68m vertically below surface. The results from Martina Northwest are very encouraging as these new intersections support the potential to increase the mineral resource along this trend. To follow up on the 200m strike length of mineralization defined at Ely Central, continued drilling returned a broad interval of 33.8m at 88 g/t Ag from 71.3m which successfully closes the gap between the mineralized structures at Ely Central and Ely North. In addition, the deepest mineralization encountered along the Ely structure to date intercepted 4.55m at 0.33 g/t Au and 30 g/t Ag from 173.65m (including 1.2m at 0.63 g/t Au and 26 g/t Ag). The presence of this comparatively rich Au pulse may indicate the introduction of a stronger and more consistent gold enriched mineralization in the deeper parts of the Virginia vein system (news release January 25, 2022). Maiden drilling at Santa Rita Central and East intercepted encouraging Au and Ag mineralization confirming that the structures mapped and sampled on surface extend to depth, The best results were obtained at Santa Rita East where two drill holes collared 50m apart returned 5.65m at 0.68 g/t Au from 35.65m, including 1.35m at 1.87 g/t Au and 5.20m at 0.63 g/t Au and 7 g/t Ag from 35.30m (news release February 10, 2022). Phase IV of the drill program included a 12 diamond drill holes for 1,362m (news release July 21, 2022). The drilling was designed to extend mineralization outside the existing Virginia resource by continuing to test the gaps along the main vein structures at Ely and Martina and to define new mineralization at the Margarita trend. Previously untested, outlying targets approximately 1.5km to the north of the main trend, Patricia and Daniela were also drilled during this campaign. At the Margarita high-grade Ag trend, three drill holes successfully extended the mineralized vein by more than 150m to the north-west. The system remains open in both directions. The Margarita Vein has similar mineralization to the Julia Vein which hosts most of the current silver resources at Virginia. Margarita hole MR-DDH-004 returned 4.85m at 720 g/t Ag, including a discreet intercept of 0.30m at 1,775 g/t Ag, exhibiting a strongly banded epithermal vein with fine-grained sulphides and copper oxides. At Ely Central three holes were drilled for a total of 261m testing the gaps within the 500m-long trend. This newly identified silver-rich vein trend outcrops on surface and has been drilled to 100m vertically below surface and remains open to depth. Notable intersections from the Ely Central drill holes include EC-DDH-011 returning 11.95m at 124 g/t Ag, including 1.8m at 192 g/t Ag. One drill hole tested the northern extension of the 200m-long anomalous southern end of Ely North vein, which is not currently part of the Ely North conceptual resource pit. The hole intercepted the vein 100m vertically below surface returning 5.65m at 144.5 g/t Ag, including 0.6mat 418 g/t Ag, extending the trend 50m to the north. Further infill drilling is required to test the remaining gaps along the Ely Trend. This could potentially connect the Ely Central, Ely South and Ely North conceptual resource pits. Two new holes were drilled at the Martina vein trend. Martina Central drill hole MC-DDH-002 was designed to start testing the gap between the Martina Central and northwest trends and returned Ag intersections of 2.9m at 127 g/t Ag, including 1.45m at 179.5 g/t Ag. Gaps still remain to be drilled along the Martina structure with the potential for Ag grades to be associated with the notable high chargeability responses. Hole MNW-DDH-0064 (8m at 91 g/t Ag) filled the gap in the Martina Northwest and extended the mineralization along this 200-meter-long trend. One drill hole tested each the Daniela and the Patricia Veins, located approximately 1.5km to the north of the Ely North Resource conceptual pit. Both of these veins were untested targets hosting the highest-grade surface rock-chip Ag samples. The objective of these holes was to test for downdip extensions of the surface expressions. The Patricia drill hole PA-DDH-001 intersected 1.45m at 120 g/t Ag, including 0.5m at 198.5 g/t Ag, and another parallel structure with 2.95m at 95.7 g/t Ag, including 0.35m at 163 g/t Ag. These modest drill results did not replicate the extremely high-grade rock chips from near source float block samples (over 29,000 g/t Ag and 18,800 g/t Ag) from surface. Follow up drilling along strike will be required to understand the significance of these intersections. A new increased NI 43-101 Resource Estimate report was completed and filed November 9 2023. After drilling from 2020 to 2012 defined 9 outcropping bodies of high-grade silver mineralization, constrained[1] within conceptual pits, with an indicated mineral resource of 11.7 million ounces of silver at 357 g/t Ag and a further inferred 7.9 million ounces of silver at 184 g/t Ag. Nord Project Overview: Property Type Polymetallic (Cu, Zn, Pb, Ag, Au) /Epithermal/Porphyry Size 1,967 ha Status Available for Partnership Exploration Stage Scout drilling Rock chip samples, soil samples, field mapping Location Eocene-Oligocene Copper Porphyry belt of northern Chile Located in NS trending, regional scale Domeyko fault zone Altitude of 3,200 to 3,900 meters ASL Adjacent to 2 advanced projects (operated by Codelco and Mineria Activa) The 1,967 ha Nord project locates in Region III of Chile within the Exploradora District which lies on the western side of the NS trending, regional-scale Domeyko fault zone, and within the world-class Eocene-Oligocene Copper Porphyry belt. The project has the potential to host two main styles of mineralization, large vein type zones injected into fault structures and Cu-Au porphyry style mineralization. The project surrounds Mineria Activa’s Ciclon-Exploradora development project making them a logical buyer and this agreement will allow them to explore the Nord project for potential extensions or parallel structures to the known mineralization as well as other mineralization styles in this prospective land package.The 1,967 ha Nord project is located in Region III of Chile within the Exploradora District, which lies on the western side of the north-south trending regional scale Domeyko fault zone, and within the world class Eocene-Oligocene porphyry Cu belt. Based on Mirasol’s initial surface exploration work, the project has the potential to host two main styles of mineralization. The first is characterized by large vein-type mineralization injected into fault structures hosting polymetallic (Cu, Zn, Pb, Ag, Au) mineralization, as seen in the active small-scale mines located near the northeast corner of the claim boundary and at Mineria’s Ciclon-Exploradora polymetallic development project, which is located adjacent to the eastern blocks of the project. While surface geochemistry has returned only low to anomalous results, Encantada’s understanding will be valuable to define drill targets for potential extensions or parallel structures to the known mineralization (news release October 31, 2019). The potential for porphyry Cu-Au style mineralization is also present on the project. In the central part of the property a large alteration zone displays patterns of quartz-sericite and advanced argillic alteration with thin tourmaline veinlets, which are characteristic of some porphyry-style alteration assemblages. In the first half of 2021, Encantada completed an initial fieldwork program, which included geological mapping, geochemistry and geophysical surveys to define targets. A scout drilling program was completed largely on a property controlled by Encantada (Target 1) and adjacent to Nord, with one initial drill hole completed within the Nord tenure to test a Au-Cu mineralized corridor. Follow up drilling took place at Nord in late 2021 to test the multiple north-northeast trending mineralized corridors identified on the property. Encantada completed five drill holes totaling 1,192m on Target 3 in the center of the project. Narrow zones of Zn mineralization (sphalerite - pyrrhotite) were encountered in the northern holes with higher temperature (garnet-pyroxene-magnetite) skarn carrying narrow zones of Cu-Au mineralization intercepted in the south. The skarn and increasing Cu-Au+Mo values may indicate a vector towards a porphyry target to the southeast. At Target 2, geological mapping at 1:2,000 and 1:5,000 scale has been completed on a porphyry prospect interpreted to be of similar Mid Eocene-Oligocene (33-36 Ma) age to the Exploradora complex, which is located 4 km to the northeast. Three porphyry intrusives with potassic (secondary biotite) alteration, overprinted by strong sericite-clay alteration with local alunite, limonite and copper oxides, occur in two elongated 200 x 500m and 150 x 300m zones. Porphyry-type veining includes early biotite-magnetite (“EB”) veins and scarce A veins along a north-northwest trend near the contacts of the porphyry with the monzodiorite intrusive host rock. An Induced Polarization (“IP”) geophysical survey completed over the area has defined a strong and broad chargeability anomaly from 100-500m depth associated with the altered porphyry intrusions. Encantada is evaluating further geochemical and geophysical surveys to develop and refine potential new drill targets. Sascha-Marcelina Project Overview: Property Type LSE Gold Silver Project Size 30,600 ha Status Self-funded Exploration Exploration Stage 3,266m drill program completed in 2021 at Pellegrini, Estancia and Igloo Trends 4,333m drill program at the Sascha Main zone completed during previous JV (2006 - 2009) Geological mapping, rock chip sampling, IP geophysics and soil grid sampling Location Jurassic age volcanic rocks of the Deseado Massif in north-central Santa Cruz province, Argentina. Low altitude - 1,000 meters ASL Ownership 24,900 ha 100% owned by Mirasol, 5,700 ha controlled by Mirasol under an option to purchase agreementSascha Marcelina is a 30,600 ha LSE gold-silver property located at the north-central part of Santa Cruz in Argentina. The project is conveniently accessible to the provincial road, Ruta 39, and with potential trucking distance of the multiple mine facilities. The project is located 100 km south of Newmont’s Cerro Negro mine and displays similar geologic and geomorphic settings. Anomalous rock chip Au+Ag assays and Aster satellite alteration anomalies have defined a large-scale, zoned alteration system characteristic of an LSE Au+Ag system. Multiple, multi-kilometre long, mineralized vein and silicified breccia trends have been recognized across the project. Option to Purchase Agreement - Property Claim Consolidation In early 2019, Mirasol consolidated the large prospective Sascha-Marcelina property by signing an option to purchase agreement for the 5,700 ha from a privately-owned mining company. Mirasol can acquire 100% of the 5,700 ha claims by making staged option payments totalling US$3.4 million over four years, with US$3.15 million due on the 4th anniversary. If the option is exercised, the Marcelina claims will be subject to a 1.5% NSR royalty. There is a minimum US$300,000 exploration spending commitment by Mirasol during the first three years of the option period. In January 2022, Mirasol amended the terms of the option to purchase agreement. The option period for the Marcelina property has been extended by two years with no payment due in 2022. Future payments of US$50,000, US$100,000 and US$3.45M will be due in January 2023, 2024 and 2025, respectively, if the project is advanced. 2021 Mirasol completed a 2,814m drill program in Q2 2021. The program was focused on quality targets at the Estancia, Pellegrini and Igloo prospects, which are characterized by coincident large-scale outcropping alteration, anomalous rock chip geochemistry and Induced Polarization (“IP”) geophysical anomalies. These prospects had not previously been drilled tested (see news release August 9, 2021). In December 2021, Mirasol followed up with a 450m deep hole at the Pellegrini breccia target. Pellegrini Trend: At the Pellegrini Trend, five diamond drill holes were completed at the main breccia target area with two additional scout holes drilled outboard on two other major northwest trending faults structures to the west and north, for a combined total of nearly 1,900m. Holes PEL-DDH-001, PEL-DDH-002 and PEL-DDH-005 all encountered, within their upper levels, restricted zones of anomalous mineralization associated with hydrothermal brecciation. Hole PEL-DDH-005, which was drilled deeper below PEL-DDH-002, exhibits the best precious metal mineralization intersection to date. This hole intercepted a wide zone of peripheral crackle brecciation which starts at 170m vertically below surface and continues into an inner core of hydrothermal polymictic brecciation for a total intercepted width of brecciation >25 m. This inner zone returned an intersection of: 20.4m at 0.24 g/t Au and 39 g/t Ag (58 g/t AgEq1) from 242.5m, including 10.5m at 0.28 g/t Au and 66 g/t Ag (87 g/t AgEq) from 249m. High Zn and Pb base metal results are also associated with this brecciated body with 0.82% Pb and 0.7% Zn over the broader 20.4m interval, including 1.3m with 3.19% Pb and 2.56% Zn. In late 2021, Mirasol drilled hole PEL-DDH-007 behind and under PEL-DDH-005 to test the depth and lateral extent of the breccia body previously intercepted. No significant Au and Ag mineralization was encountered apart from isolated values of 0.4 g/t Au and 140 g/t Ag from narrow veinlet zones. These veinlets are generally sub-parallel to the core axis and potentially have an antithetic structural configuration. However, broad Pb and Zn mineralization was intercepted returning: 33.9m at 1.3% Pb and 0.5% Zn from 298.6m (250 ppm Pb cut-off) including 15.85m at 2.1% Pb and 0.8% Zn from 285.15m (1,000 ppm Pb cut-off) including a higher-grade section of 7.2m at 4.1% Pb and 1.4% Zn from 289m (1% Pb cut-off) Evaluation of the three holes drilled at Pellegrini in the breccia zone (PEL-DDH-002, 005 and 007) suggests that the mineralized zone may have a west-dipping orientation. A scissor drill hole oriented from west to east will be required to confirm if the drilling to date has been parallel to the dip direction. Furthermore, it appears that the three holes have not adequately tested the coincident chargeability/resistivity anomaly defined from the recent deep penetrating IP geophysics located to the west of holes PEL-DDH-005 and 007 and directly at depth below PEL-DDH-002. The mineralization also appears to decrease in intensity, most notably in Au/Ag, further to the east, outboard and distal to this remaining untested central target. Estancia Trend: At the Estancia Trend, six holes (1,011m) were completed. Three of these holes located in the southern part of the prospect (Estancia Sur) returned anomalous Au results. This drilling demonstrated that Estancia Sur is located in the lower part of the Matilda formation or upper part of the Chon Aike, neither of which are good, competent host rocks for productive fissure veins. Instead of concentrating mineralization, their physical characteristics allow for wider intersections of lower grade and dispersed mineralization, as illustrated by the results from drill hole EST-DDH-003 (8.7m at 0.32 g/t Au). However, with focused, deeper drilling, it is considered likely that a stronger mineralization could be encountered in the more permissive rock type (mid to lower Chon Aike formation). Mineralization encountered to date at Estancia Sur occurs as narrow sheeted veinlets, pseudo-stockworks zones and fluidized channels with crackle brecciation, infilled with two styles of mineralization with an initial pulse of massive pyrite with dark grey silica and a second pulse of more epithermal crypto-crystalline quartz hosting the higher Au grades. Igloo Trend: At the Igloo Trend, limited initial drilling intercepted mineralization very similar to that of Estancia Sur, related to narrow veinlets, zones of pseudo-stockwork and fluidized channels hosting brecciation, with Au grades up to 0.57 g/t. This mineralization is associated with a pronounced and widespread “cloud” of pathfinder elements characterised by arsenic, antimony and mercury + barium. Such zones of anomalous pathfinder elements typically reside above productive systems in several low sulfidation Au-Ag epithermal mines and deposits in Santa Cruz and provide a strong vector to depth for stronger mineralization. 2019/2020 In 2019, Mirasol signed an option to purchase agreement for 5,700 ha claims from a privately-owned mining company and consolidated the large prospective Sascha-Marcelina property under one company for the first time. Following this consolidation, Mirasol completed an integrated interpretation of district-scale exploration data sets collected prior to 2009. Anomalous rock chip Au+Ag assays and Aster satellite alteration anomalies define a 16.5 x 4.0 km (65 km2) “footprint” to the district, showing a large-scale, zoned alteration system characteristic of a large LSE Au+Ag system. Five, multi-kilometre long, mineralized vein and silicified breccia trends have been recognized to date across the consolidated district. The trends traverse the Pellegrini Silica Cap, or outcrop through post-mineral gravel and basalt cover that surrounds the Silica Cap. The geologic and geomorphic setting of the Pellegrini Silica Cap and related silica structures and veins is analogous to the setting of the Cerro Negro Mine, which is a high grade, low-cost underground mine operated by Newmont and located approximately 100 km to the north of the Sascha-Marcelina project. Interpretation of mapped volcanic and sedimentary stratigraphy, Au+Ag and multi-element geochemistry and alteration mineralogy shows that different levels of the epithermal system outcrop across the district, exposing what are interpreted to be different levels of the mineralized column of an LSE Au+Ag system. The surface exploration activities completed on the Sascha-Marcelina project (see news release July 18, 2019) include geological mapping aided by the acquisition of drone supported high-resolution base images, detailed rock chip sampling, extensive soil grid sampling (with PXRF sourced geochemistry) and the acquisition of alteration data using in-house handheld ASD (Analytical Spectral Devices) technology on all of the rock chips and soil samples collected to date. New prospects were recognized, with the “Estancia trend” and the “Igloo trend”, both located in close proximity to an extensive Pellegrini Silica Cap, which is interpreted as representing the preserved fossil paleosurface of a low sulfidation system. A total of 422 new rock chip samples have been collected from within the Marcelina area with assays averaging 0.25 g/t Au and 2.46 g/t Ag and up to 27.7g/t Au and 121g/t Ag, taken from epithermal silica vein/veinlets and silica-hematite hydrothermal breccias. These precious metal values are accompanied by highly elevated epithermal pathfinder elements including arsenic, antimony, tellurium, and anomalous lead and zinc. BEFORE 2009 Mirasol staked the Sascha Project in 2003 to secure the 5 km long Sascha Vein Zone, which was partially drill tested on the western end while under an exploration agreement to Coeur Mining (“Coeur”) from 2006 to 2009. Coeur terminated the agreement in 2009 and returned 100% of the project to Mirasol. Coeur’s exploration program included: 356 line-km of detailed ground magnetics, 24 line-km of gradient array geophysics, 3,400 m of infill trenching and mapping, and 32 shallow diamond holes (average depth 135 m) in 2 campaigns for 4,333 m along the 4.5 km, NW trending epithermal Au-Ag mineralized Sascha Vein Zone and two shallow holes at Sasha Sur. - **Projects:** ["Sobek\\\n\\\n\\\nChile","Claudia\\\n\\\n\\\nArgentina","Virginia\\\n\\\n\\\nArgentina","Nord\\\n\\\n\\\nChile","Sascha-Marcelina\\\n\\\n\\\nArgentina","Rubi\\\n\\\n\\\nChile","Altazor\\\n\\\n\\\nChile","Coronación\\\n\\\n\\\nChile","Gorbea Belt\\\n\\\n\\\nChile","Homenaje\\\n\\\n\\\nArgentina","La Curva\\\n\\\n\\\nArgentina","Libanesa","Osiris\\\n\\\n\\\nChile","Zeus\\\n\\\n\\\nChile"] - **Leadership:** Directors and Management Nick DeMare, CPA, CA Director Nick DeMare, a Chartered Professional Accountant, has been President of Chase Management Inc. since 1991, providing accounting, management, securities regulatory compliance and corporate secretarial services to private and public-listed companies. Mr. DeMare also serves as an officer and/or director of a number of public-listed companies. Mr. DeMare holds a Bachelor of Commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Professional Accountants of British Columbia. Tim Heenan President, CEO & Director Tim Heenan is a founder of Mirasol and is the President, CEO & Director. Mr. Heenan has over 30 years of exploration experience, mostly within Central and South America, with a focus in Chile and Argentina. Over his career, he has worked within a wide range of companies from junior through mid-tier and also major multinationals both as an employee or on a consulting basis. Mr. Heenan has resided between Chile and Argentina since 1992 and is very familiar with the local cultures, legal frameworks and geological environments in these two countries. He is a hands-on explorationist, who has worked in all aspects of exploration from grassroots through advanced exploration and he was directly involved in several discoveries, including the famous Cerro Negro Mining District in the Province of Santa Cruz, Argentina and several other high-profile projects throughout the region. Tim Moody Director Tim Moody has over 30 years of experience in the mining industry, with expertise in mineral exploration, resource assessment, business development and corporate strategy. He spent 24 years with Rio Tinto, including as Exploration Director from 2005 – 2010, and as Vice President and Director for Business Development from 2010 to 2015. Mr. Moody has an impressive track record of discovery of mineral resources as well as commercial transactions globally. This includes leading the teams in identification and exploration of several projects now in feasibility and/or production, such as Mina Justa, Constancia, La Granja, Corani and Ollachea in Peru and Castillejito in Spain. As Director of Business Development at Rio Tinto, his responsibilities included corporate strategy, M&A and public market transactions. Diane Nicolson Director Dr. Diane Nicolson is President and CEO of Amarc Resources Ltd., a Hunter Dickinson Inc.-associated company with several active exploration properties in British Columbia, Canada. A mining executive and economic geologist, Dr. Nicolson has been active in the mining industry and minerals exploration for more than 20 years. Dr. Nicolson has an extensive experience working in both precious and base metals exploration globally, and with a particular focus in Latin America, where she was based for more than 10 years. Dr. Nicolson holds a B.Sc. degree in geology from the University of London, a PhD in economic geology from the University of Wales. John Tognetti Director John Tognetti has over 30 years experience as an investment advisor and trader, playing a key role in developing Haywood into a leading independent and integrated securities dealer in Canada with a focus on the resource sectors. Mr. Tognetti has extensive stock market experience and is regarded as one of North America’s leading financiers in the junior resource sector, having played a leading role in financing a range of highly successful natural resource companies. Mr. Tognetti is a long-term supporter of Mirasol Resources and has contributed to or arranged all equity financings completed by the Company since its inception. Tim Heenan President, CEO & Director Tim Heenan is a founder of Mirasol and is the President, CEO & Director. Mr. Heenan has over 30 years of exploration experience, mostly within Central and South America, with a focus in Chile and Argentina. Over his career, he has worked within a wide range of companies from junior through mid-tier and also major multinationals both as an employee or on a consulting basis. Mr. Heenan has resided between Chile and Argentina since 1992 and is very familiar with the local cultures, legal frameworks and geological environments in these two countries. He is a hands-on explorationist, who has worked in all aspects of exploration from grassroots through advanced exploration and he was directly involved in several discoveries, including the famous Cerro Negro Mining District in the Province of Santa Cruz, Argentina and several other high-profile projects throughout the region. Francisco Del Castillo, CPA, CA, MBA Chief Financial Officer Mr. Francisco Del Castillo, CPA, CA, MBA, is an accomplished finance leader with more than 20 years of experience across public practice, corporate finance, public company reporting, and multinational financial operations across Canada, Mexico, and Latin America. He brings expertise in IFRS reporting, MD&A preparation, internal controls (COSO/SOX), and multi-jurisdictional financial management. His background includes senior roles as Fractional CFO and Corporate Controller for public mining companies, as well as Corporate Controller for a production-stage miner operating in Mexico. Prior to relocating to Canada, he held CFO and Controller positions in Mexico. He holds both Canadian and Mexican CA designations, an MBA, is fluent in English and Spanish, and actively volunteers as a mentor to CPA candidates. Troy Shultz, MBA Vice President Investor Relations Mr. Shultz has over 15 years of experience in investor relations and communications for various publicly listed companies, primarily in the resource and precious metals industry. Prior to joining Mirasol, Mr. Shultz was responsible for directing and executing the investor relations and communication plans for Pretium Resources as the Brucejack gold mine progressed from advanced exploration through construction to profitable commercial production until it was acquired by Newcrest Mining in March, 2022. Prior to joining Pretium, he worked with junior exploration companies establishing and implementing investor relations strategies, ensuring compliance and leading financings to raise capital for development. Mr. Shultz holds a Bachelor of Arts & Science degree and a Master of Business Administration from the University of Saskatchewan. Max Pinsky CORPORATE SECRETARY Max Pinsky is a lawyer with over 30 years of practice experience, mainly in the corporate and securities areas. Mr. Pinsky has a B.Sc. (Special) degree and an LL.B. degree from the University of Alberta. Mr. Pinsky is a member of the Law Society of British Columbia. He has considerable experience in assisting companies in all stages of planning and corporate development. Mr. Pinsky has been a principal in several successful transactions in various businesses, including environmental engineering, oil and gas, and real estate. _Verified data last updated: 2026-05-15_ ## Recent filings - 2026-04-23 — press_release — [Mirasol Provides Exploration Update on Sobek Copper-Gold Project in the Vicuña District, Chile](https://chat.orbiton.app/mrz/preview/29743?documentId=29743) - 2026-03-19 — press_release — [NEWS RELEASE Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8 Tel: +1 604 602 9989 E-mail: contact@mirasolresources.com www.mirasolresources.com March 19, 2026 Shares Issued and Outstanding: 88,597,189 TSX-V: MRZ OTC: MRZLF Mirasol Signs LOI for the Sale of the Rubi Copper Project for US$4 Million Plus 2% NSR Royalty • San Lorenzo Gold to acquire Rubi Project for a total consideration of US$ 4.0 million • Mirasol will retain a 2% NSR Royalty. Following the exercise of the third option, San Lorenzo may buy back the first 0.5% within twelve months for US$2.0 million, and following the commencement of commercial production another 0.5% within twelve months for an additional US$2 million • Mirasol’s interest in the Rubi Project will be fully carried to decision to mine](https://chat.orbiton.app/mrz/preview/22089?documentId=22089) - 2026-02-27 — mda — [MRZ_2026-02-27_15-04-16.pdf](https://chat.orbiton.app/mrz/preview/19491?documentId=19491) - 2026-02-27 — financials — [MRZ_2026-02-27_15-02-02.pdf](https://chat.orbiton.app/mrz/preview/19492?documentId=19492) - 2026-01-26 — press_release — [NEWS RELEASE Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8 Tel: +1 604 602 9989 E-mail: contact@mirasolresources.com www.mirasolresources.com January 26, 2026 Shares Issued and Outstanding: 88,547,189 TSX-V: MRZ OTC: MRZLF Mirasol Signs Agreement for the Sale of a Portfolio of Copper Projects in Mendoza, Argentina • Argentina Metals to acquire a portfolio of grassroot copper projects for a total combined consideration of 1.3 million shares and US$50,000](https://chat.orbiton.app/mrz/preview/15032?documentId=15032) - 2026-01-22 — press_release — [Drilling Underway at Mirasol's Sobek Copper-Gold Project in the Vicuña District, Chile](https://chat.orbiton.app/mrz/preview/15003?documentId=15003) - 2026-01-22 — press_release — [Drilling Underway at Mirasol's Sobek Copper-Gold Project in the Vicuña District, Chile](https://chat.orbiton.app/mrz/preview/13170?documentId=13170) - 2025-12-16 — press_release — [Mirasol Resources Closes Private Placement Financing](https://chat.orbiton.app/mrz/preview/11853?documentId=11853) ## Investor FAQ ### [Latest News?](https://chat.orbiton.app/mrz/faq/latest-news) Mirasol recently provided an exploration update on the Sobek Copper-Gold Project in the Vicuña District, Chile, highlighting ongoing drilling activities. Additionally, the company signed a letter of intent for the sale of the Rubi Copper Project for US$4 million plus a 2% NSR royalty. ### [Catalysts?](https://chat.orbiton.app/mrz/faq/catalysts) Key catalysts for Mirasol include the ongoing exploration and drilling results from the Sobek Project, which may lead to significant discoveries. Furthermore, the completion of the sale of the Rubi Copper Project and potential future partnerships or joint ventures could enhance the company's financial position and project portfolio. ## Live AI chat - https://chat.orbiton.app/mrz/chat - Investor website: https://mirasolresources.com/