Culpeo Minerals Launches $595,042 Non-Renounceable Options Entitlement Offer to Boost Copper Exploration in Chile

Culpeo's Strategic Copper Exploration in Chile's Coquimbo Region

Culpeo Minerals Limited operates as a dedicated copper exploration, discovery, and development entity with a strategic focus on Chile, the world’s top copper producer. Its exploration assets are situated within Chile’s infrastructure-rich Coastal Cordillera in the Coquimbo Region, roughly 350 kilometres north of Santiago, near the world-class Los Pelambres mine.

Recently, Culpeo announced a major copper and molybdenum discovery at the Lana Corina Project and acquired the promising Fortuna and copper-gold projects. Both Lana Corina and Fortuna feature significant outcropping high-grade copper systems with access to established regional infrastructure such as roads, power lines, and water, facilitating cost-effective development. The company is led by a board and management team with over 20 years of operational and exploration experience in Chile.

Details of the Non-Renounceable Options Entitlement Offer

On 8 July 2026, Culpeo Minerals announced a non-underwritten, four-for-one pro-rata, non-renounceable entitlement issue of unlisted options. Eligible shareholders may subscribe for one new unlisted option for every four fully paid ordinary shares held as of 5:00pm AWST on Monday, 20 July 2026. Options are priced at $0.003 each, with an exercise price of $0.0175 and expire at 5:00pm AWST on 11 July 2028. These options carry the same terms as the existing ASX-listed class under ticker CPOAL.

The offer is non-renounceable, so shareholders cannot transfer or sell entitlements if they choose not to subscribe. Replacement prospectus documents dated 8 July 2026 and explanatory letters have been sent to all eligible shareholders. Notifications have also been dispatched to ineligible shareholders per ASX Listing Rule 7.7.1(b). Eligible shareholders are those on the share register at the record date with Australian or New Zealand registered addresses.

Capital Raise Objective and Allocation of the $595,042 Proceeds

The entitlement offer aims to raise approximately $595,042 through unlisted option sales to eligible shareholders. Although the exact number of options to be issued is not disclosed, this amount corresponds to the $0.003 issue price and the four-for-one entitlement ratio. Proceeds will fund drilling programs at the El Quillay and Vista Montana prospects, key areas within Culpeo’s exploration portfolio in the Coquimbo Region.

Additionally, funds will cover offer-related costs and general working capital. The focus on drilling at these prospects aligns with Culpeo's strategy to advance exploration and discovery activities across its Chilean assets. General working capital will support operational expenses and corporate administration. The timing and scope of drilling will be key indicators for investors tracking the company's exploration progress.

Offer Timeline, Eligibility, and Shareholder Participation Options

The entitlement offer opened after prospectus and shareholder communications were sent on 24 July 2026, remaining open until 5:00pm AWST on Tuesday, 4 August 2026, unless extended or withdrawn. Eligible shareholders are those registered at 5:00pm AWST on Monday, 20 July 2026, with Australian or New Zealand addresses. Shareholders outside these jurisdictions are ineligible and have been notified accordingly, in compliance with ASX rules.

Eligible shareholders have four participation options: accept their full entitlement by the closing date; accept full entitlement plus apply for additional securities via any shortfall; accept part of their entitlement and let the remainder lapse; or take no action, allowing full entitlement to lapse. Acceptance must occur by 5:00pm AWST on 4 August 2026. Prospectus, personalised acceptance forms, and detailed offer documents are available via the Automic share registry portal, with paper copies available on request.

Accessing Prospectus and Acceptance Forms via Automic Registry

Culpeo Minerals has arranged distribution of prospectus and entitlement documents through Automic, its share registry provider. Eligible shareholders can access personalised entitlement and acceptance forms and the full replacement prospectus (dated 8 July 2026) via the Automic investor portal at https://portal.automic.com.au/investor/home. Shareholders with existing Automic online accounts can log in, navigate to Documents and Statements, and download the documents. Those without accounts may register at https://singleholding.automic.com.au/signup by selecting Culpeo Minerals Limited from the issuer list.

Shareholders preferring not to create ongoing accounts but wishing to participate in this offer can use a single-transaction login at https://singleholding.automic.com.au/login, providing holder identification and postcode. The prospectus is also available on Culpeo’s website at https://culpeominerals.com.au/prospectus. Paper copies can be requested by contacting [email protected] or calling +61 (08) 6383 7894. Eligible shareholders are advised to read the prospectus thoroughly before deciding to participate.

Significant Copper and Molybdenum Discovery at Lana Corina Project

Culpeo Minerals recently announced a major copper and molybdenum discovery at its Lana Corina Project in Chile’s Coquimbo Region, approximately 350 kilometres north of Santiago. This discovery is a key advancement for the company’s exploration portfolio, highlighting the potential of its assets within Chile’s established mining corridors. Lana Corina features substantial high-grade copper outcrops accessible for exploration and development. Its proximity to the Los Pelambres mine underscores the regional copper mineralisation and infrastructure advantages.

The company’s acquisition of the Fortuna and copper-gold projects further expands its exploration pipeline and commodity exposure. These acquisitions demonstrate management’s confidence in the Coastal Cordillera’s geological potential. Culpeo’s focus on high-grade, near-surface copper systems aligns with its goal to create shareholder value through exploration, acquisition, and development. The current entitlement offer’s funding allocation to El Quillay and Vista Montana drilling represents the next step in advancing these targets.

Global Copper Market Dynamics and Exploration Imperatives

Culpeo Minerals’ Chilean copper exploration occurs amid sustained global demand for copper, driven by electrical infrastructure, renewable energy, and industrial needs. Chile, as the world’s leading copper producer, offers a robust mining industry, regulatory environment, and infrastructure that support exploration and development. The Coquimbo Region benefits from proximity to major operations like Los Pelambres, reinforcing its appeal for copper exploration investment.

Capital raised through the entitlement offer will fund drilling at El Quillay and Vista Montana, reflecting Culpeo’s commitment to advancing exploration targets systematically. The timing of this capital raise aligns with the company’s strategy and market conditions, with investors likely to monitor drill results and developments as indicators of progress and potential value creation.

Experienced Leadership Steering Culpeo Through the Offer

Culpeo Minerals is guided by a board and management team with over 20 years of combined operational and exploration experience in Chile, providing expertise in navigating regulatory, logistical, and technical challenges. Interim Executive Chairman Geoff McNamara is authorised to represent the company for shareholder communications and corporate matters. This experienced leadership is a valuable asset as the company executes exploration programs and manages the entitlement offer.

Shareholders seeking further information on the offer or company operations are encouraged to review the prospectus and contact Culpeo directly. The appointment of an interim executive chairman may indicate corporate or governance transitions, though no further details were provided. Shareholders can consult the company’s ASX disclosures for updates on management changes.