Significant Milestone Enables Irruptive Metals to Accelerate Exploration Program
Toronto, Ontario – August 5, 2026 – Irruptive Metals Corp. (TSXV: IRR) (“Irruptive Metals” or the “Company”), an emerging copper-gold exploration company advancing the high-potential Pimentón Project in Chile, is pleased to announce that Irruptive Metals has received regulatory clearance to enable the Company to advance its exploration program on an accelerated timeline at the Pimentón Project.
Specifically, Chile’s Environmental Assessment Service (Servicio de Evaluación Ambiental) (the “SEA”) has confirmed that the Company’s “Deep Porphyry Confirmation Drilling – Pimentón” program (ID PERTI-2026-6338) is exempt from submission to Chile’s Environmental Impact Assessment System (the “SEIA”).
The SEA’s decision, issued in response to a Pertinence Letter (carta de pertinencia) submitted by Minera Tamidak Limitada, the Company’s joint venture partner at Pimentón, confirms that no prior environmental assessment is required for the planned drilling activities. This regulatory clearance represents a significant milestone for Irruptive Metals. “Securing environmental clearance for our deep porphyry drilling program marks an important step forward for Irruptive Metals,” said Alfredo Bazo, President and CEO of Irruptive Metals.
“This approval allows us to move quickly to test the significant copper-gold potential we see at the Central target. We look forward to commencing drilling and sharing results as we advance the Pimentón Project toward resource definition.”
Advancing Exploration at the Pimentón Central Target
The drilling program will target the Central zone of the Pimentón copper-gold porphyry cluster, where previous exploration has identified compelling mineralization potential. Diamond drilling will focus on confirming geological continuity at depth and expanding the known mineralized footprint laterally, providing critical data to support future resource definition work.
This drilling campaign forms a key component of Irruptive Metals’ district-scale exploration strategy, which is designed to unlock the full copper-gold potential of the Pimentón property and advance the project toward resource delineation.
With environmental clearance now secured, Irruptive Metals is proceeding with operational planning for the drilling campaign and expects to provide further updates as the program advances. The Company remains committed to conducting all exploration activities in accordance with best practices in safety, environmental stewardship, and community engagement.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Claudio Burgoa, P.Geo, Chief Geologist of Irruptive Metals, a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and Qualified Person #535, Comisión Minera de Chile.
About Irruptive Metals Corp.
Irruptive Metals Corp. (TSXV: IRR) is a Canadian copper-gold exploration company focused on unlocking value from high-quality mineral projects in Chile. The Company’s flagship Pimentón Project is strategically located within one of the world’s most prolific porphyry copper-gold belts and has been the subject of extensive historical exploration by major mining companies, underscoring its significant discovery potential.
For further information, contact:
Alfredo Bazo
President, Chief Executive Officer and Director
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/
100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws.
Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking stateme nts are often identified by terms such as “may”, “should”. “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements.
More particularly and without limitation, this news release contains forward-looking statements that include, but are not limited to, statements regarding the Company’s planned drill program, exploration targets, geological interpretations, future resource evaluation work, and the potential advancement of the Pimentón Project.
Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks facing the Company, are outlined in the Company’s Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.
The forward-looking statements contained in this news release are made as of the date of this news release and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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.
| Name | Title |
|---|---|
| Alfredo Bazo | Chief Executive Officer, President and Director |
| Judson Culter | Chief Financial Officer and Corporate Secretary |
| Claudio Burgoa | Chief Geologist |
| Robert Oehninger | Country Manager, Chile |
| Ignacio Agramunt | Director |
| Ramon Araneda | Director and Non-Executive Chairman |
| Drew Clark | Director |
| Nadine Miller | Director |
Please refer to the Filing Statement for additional information on, and the biographies of, each of the foregoing individuals.
Escrow and Other Corporate Updates
In connection with the Transaction, an aggregate of 36,175,000 Resulting Issuer Shares, 1,100,000 Resulting Issuer Options and 60,714 Resulting Issuer DSUs were deposited in escrow in accordance with the policies of the TSXV, in addition to 59,194,053 Resulting Issuer Shares and 1,000,000 Resulting Issuer Options subject to SSRRs (as defined under the policies of the TSXV). Please refer to the Filing Statement for additional information on the escrowed and restricted securities.
Additionally, in connection with the Transaction, PKF Antares has been appointed as the auditor of the Company, and the Company adopted a new 10% rolling omnibus incentive plan. The new CUSIP number for the Resulting Issuer Shares is 46358T107. The transfer agent of the Company continues to be TSX Trust Company.
Subscription Receipt Financing
On February 23, 2026, Irruptive completed a private placement of an aggregate of 5,871,432 subscription receipts of Irruptive (the “Irruptive Subscription Receipts“) at a price of $0.70 per Irruptive Subscription Receipt for aggregate gross proceeds to Irruptive of approximately $4,110,002 (the “Subscription Receipt Financing“).
Upon satisfaction of certain escrow release conditions, each Irruptive Subscription Receipt automatically converted, without payment of additional consideration or further action by the holders thereof, into one Irruptive Share. Pursuant to the Transaction, each such Irruptive Share was immediately exchanged for one Resulting Issuer Share for no additional consideration and without any further action by the holders thereof.
Concurrent Financing
On July 17, 2026, Subco completed a private placement of an aggregate of 1,334,716 subscription receipts of Subco (the “Subco Subscription Receipts“) at a price of $0.70 per Subco Subscription Receipt for aggregate gross proceeds of $934,301 (the “Concurrent Financing“).
The Subco Subscription Receipts were created and issued pursuant to the terms of a subscription receipt agreement between Subco and TSX Trust Company, as subscription receipt agent. In connection with the closing of the Transaction and upon the satisfaction of certain escrow release conditions, each Subco Subscription Receipt automatically converted, without payment of additional consideration or further action by the holders thereof, into one Class A Subco Share. Pursuant to the Transaction, each such Class A Subco Share was immediately exchanged for one Resulting Issuer Share for no additional consideration and without any further action by the holders thereof.
No finder’s fees or commissions were payable in respect of the Subscription Receipt Financing or the Concurrent Financing.
Early Warning Disclosure – Mercedes Juliana Benavides Ganoza de Vizquerra
Following the Transaction, Mercedes Juliana Benavides Ganoza de Vizquerra has beneficial ownership of, or control or direction over, an aggregate 24,985,714 Resulting Issuer Shares, representing approximately 21.8% of the issued and outstanding Resulting Issuer Shares on a non-diluted basis. Prior to the completion of the Transaction, Ms. Benavides Ganoza de Vizquerra did not hold any securities of the Company (formerly, 1287398 B.C. Ltd.).
Ms. Benavides Ganoza de Vizquerra acquired the Resulting Issuer Shares for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of the Company. Depending on her evaluation of these and other factors, Ms. Benavides Ganoza de Vizquerra may from time to time in the future decrease or increase her direct or indirect ownership, control or direction over securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise, or may in the future develop plans or intentions relating to any of the other actions listed in (a) through (k) of Form 62-103F1 – Required Disclosure Under the Early Warning Requirements (“Form 62-103F1“).
The Resulting Issuer Shares beneficially owned or controlled by Ms. Benavides Ganoza de Vizquerra are subject to escrow pursuant to the policies of the TSXV and an escrow agreement among the Resulting Issuer, TSX Trust Company, and certain other securityholders of the Resulting Issuer. Please refer to the Filing Statement for additional information on the escrowed securities.
Ms. Benavides Ganoza de Vizquerra’s business address is Av. Paseo de la República 5812, Piso 6, Miraflores, Lima 15074 Peru.
For the purposes of this news release and early warning disclosure, the pro forma number and percentage of outstanding Resulting Issuer Shares owned and controlled by Ms. Benavides Ganoza de Vizquerra following completion of the Transaction is based on 114,592,362 outstanding Resulting Issuer Shares following the completion of the Transaction.
This portion of this news release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103“). An early warning report will be filed by Ms. Benavides Ganoza de Vizquerra on SEDAR+ (www.sedarplus.ca)http://www.sedarplus.com/ under the Company’s issuer profile. Persons who wish to obtain a copy of the early warning report to be filed by Ms. Benavides Ganoza de Vizquerra may obtain a copy of such report from SEDAR+ (www.sedarplus.ca)http://www.sedarplus.com/ or by contacting Alfredo Bazo, President and CEO of the Company at (416) 800-1066 or info@irruptivemetals.com.
Early Warning Disclosure – Thomas Bata
Following the Transaction, Thomas Bata has beneficial ownership of, or control or direction over, directly or indirectly, an aggregate of 14,060,714 Resulting Issuer Shares, representing approximately 12.27% of the issued and outstanding Resulting Issuer Shares on a non-diluted basis. Prior to the completion of the Transaction, Mr. Bata did not hold any securities of the Company (formerly, 1287398 B.C. Ltd.).
Mr. Bata acquired the Resulting Issuer Shares for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of the Company. Depending on his evaluation of these and other factors, Mr. Bata may from time to time in the future decrease or increase his direct or indirect ownership, control or direction over securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise, or may in the future develop plans or intentions relating to any of the other actions listed in (a) through (k) of Form 62-103F1.
A portion of the Resulting Issuer Shares beneficially owned or controlled by Mr. Bata are subject to contractual resale restrictions pursuant to the terms of a lock-up agreement between Mr. Bata and Irruptive Metals Inc., under which 11,025,000 Resulting Issuer Shares beneficially owned or controlled by Mr. Bata are subject to restrictions on transfer, with 25% of such Resulting Issuer Shares being released from such restrictions every six months following the date on which the Resulting Issuer Shares commence trading on the TSXV.
Mr. Bata’s business address is 1 Westmount Square, Suite 1730, Westmount, Québec H3Z 2P9.
For the purposes of this news release and early warning disclosure, the pro forma number and percentage of outstanding Resulting Issuer Shares owned and controlled by Mr. Bata following completion of the Transaction is based on 114,592,362 outstanding Resulting Issuer Shares following the completion of the Transaction.
This portion of this news release is being issued pursuant to NI 62-103. An early warning report will be filed by Mr. Bata on SEDAR+ (www.sedarplus.ca)http://www.sedarplus.com/ under the Company’s issuer profile. Persons who wish to obtain a copy of the early warning report to be filed by Mr. Bata may obtain a copy of such report from SEDAR+ (www.sedarplus.ca)http://www.sedarplus.com/ or by contacting Alfredo Bazo, President and CEO of the Company at (416) 800-1066 or info@irruptivemetals.com.
Advisors
Bennett Jones LLP is legal counsel to Irruptive. Haywood Securities Inc. is financial advisor to Irruptive.
About Irruptive Metals Corp.
Irruptive Metals Corp. is a mineral exploration company incorporated under the Business Corporations Act (British Columbia). The Company is headquartered in Vancouver, British Columbia, and is focused on the acquisition, exploration and development of high-potential copper and gold mineral properties located in Chile. The Company holds an option to acquire up to a 100% interest in certain mining claims, leases, concessions or other mining rights comprising the Pimentón Project pursuant to an earn-in agreement dated November 18, 2025, between Irruptive and Minera Tamidak Limitada.
About the Pimentón Project
The Pimentón Project is located in the prolific high Andes Mountains of Chile. The major property surrounds and includes the Pimentón Project at an elevation between 3,350 and 4,500 metres above sea level. It is located approximately 120 km NNE of the city of Santiago and 50 km northeast of the town of Los Andes, in the district of San Esteban, Province of Los Andes, Region V, Chile. Its central UTM coordinates are N 6,407,500 and E 386,000 (Datum PSAD-56, 19 South).
For Further Information Please Contact:
Alfredo Bazo
President, Chief Executive Officer and Director
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/
100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the timing of the trading of the Resulting Issuer Shares on the TSXV, the proposed business of the Resulting Issuer, the Pimentón Project, the Company’s ability to obtain final TSXV approval of the Transaction, and the early warning disclosure described above.
Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks relating to the Transaction as well as risks facing the Company, are outlined in the Filing Statement prepared in connection with the Transaction.
The forward-looking statements contained in this news release are made as of the date of this news release and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
