Copper Giant Intersects 257 Metres of 0.63% CuEq* (0.47% Cu and 0.03% Mo) in Infill Drilling and Identifies Higher Grades at Depth Along the Southern Margin of Mocoa
VANCOUVER, BC, March 16, 2026 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce results from drill holes MD-056 and MD-057 completed as part of the Company's ongoing 2026 exploration program at its flagship Mocoa copper–molybdenum porphyry project in Putumayo, Colombia. Mocoa is a Jurassic age porphyry Cu-Mo deposit where drilling to date has delineated continuous copper and molybdenum mineralization from surface to depth exceeding 1,000 vertical metres. The drill holes were designed to support key objectives of the Company's 2026 program, including expansion of the Mineral Resource Estimate1 ("MRE") footprint along the southern margin of the deposit and infill drilling aimed at increasing geological confidence in areas of wider drill spacing. Drilling continues at full capacity with two drill rigs currently operating on site.
Figure 1. Plan view of the exploration targets and the Mocoa porphyry Cu-Mo deposit. *Black dotes denotes drill pads. (CNW Group/COPPER GIANT RESOURCES CORP.)
Figure 2. Plan view of holes MD-055, MD-056 and MD-057 mentioned in this release. White shadow denotes position of the cross-section shown in figure 3 and 5. *Collar for MD-055 and MD-057 are 314014E, 137979N and 1,720 m.a.s.l. Collar for MD-056 is 313689E, 136976N and 1,514 m.a.s.l. Coordinates are UTM system, zone 18N and WGS84 projection. For MD-055: azimuth of 45-degrees and dipping 85-degrees. For MD-056: azimuth of 15-degrees and dipping 45-degrees. For MD-057: azimuth of 295-degrees and dipping 70-degrees. Note: Hole 55 did not reach its planned target. (CNW Group/COPPER GIANT RESOURCES CORP.)
Figure 3. Cross-section along the hole MD-056 and past holes mentioned in this release, with a section width of 100 metres, showing the 2026 MRE block model and the Cu and Mo grade intercepted. (CNW Group/COPPER GIANT RESOURCES CORP.)
Figure 4. Mineralization and hydrothermal alteration observed in hole MD-056. A). Strong sericite altered Intramineral porphyry with disseminated chalcocite and late iron oxides. B). Strong chlorite - sericite altered Intramineral porphyry with quartz-chalcopyrite-moly veining (B-type). C). Strong sericite altered brecciated porphyry with chalcopyrite as matrix in-fill. D). Potassic altered microdiorite porphyry with massive chalcopyrite and pyrite. (CNW Group/COPPER GIANT RESOURCES CORP.)
Figure 5. Cross-section along the hole MD-057 and planned daughter holes with a section width of 100-metres, showing the 2026 MRE block model and the Cu and Mo grade intercepted. (CNW Group/COPPER GIANT RESOURCES CORP.)
Figure 6. Mineralization and hydrothermal alteration observed in hole MD-057. A). Strong sericite altered microtonalite porphyry with quartz “eyes” texture, disseminated chalcocite and late chalcopyrite-pyrite veining. B). Strong sericite altered Intramineral porphyry with C-type veining (chalcopyrite dominant). C). Potassic altered Intramineral porphyry with molybdenite (Moly) disseminated and chalcopyrite veining. D). Strong sericite altered Intramineral porphyry with disseminated chalcopyrite and veining of molybdenite (Moly). (CNW Group/COPPER GIANT RESOURCES CORP.)
Hole MD-056 intercepted higher copper and molybdenum grades at depth on the southern edge of the MRE footprint at Mocoa towards the La Estrella target (Figure 1) with 386 metres grading 0.39% CuEq* (0.20% Cu and 0.04% Mo) starting at 307m including last 77 metres of the hole with 0.49% CuEq* (0.33% Cu and 0.03% Mo) over a microdiorite porphyry phase potentially related to the recently discovered third high-grade zone at Mocoa.
Importantly, the mineralization intersected in hole MD-056 occurs within an area of the current MRE block model previously interpreted as waste due to limited past drilling, highlighting the exploration potential in under-drilled sections of the current resource, in this case along the southern edge of the deposit towards the La Estrella target (Figure 3).
Hole MD-057 returned 257 metres with 0.63% CuEq* (0.47% Cu and 0.03%Mo) starting at 275m and 191 metres with 0.72% CuEq* (0.54% Cu and 0.034% Mo) starting at 341m; within a broader interval of 476 metres with 0.43% CuEq* (0.28% Cu and 0.029% Mo) starting at 56m (Table 1). The hole was terminated at the planned design depth for this mother hole while still intersecting strong copper and molybdenite mineralization.
Holes MD-056 and MD-057 represent the first "mother holes" drilled in the history of the Mocoa project, establishing the foundation for directional drilling that will allow multiple daughter holes to be drilled from a single platform, improving drilling efficiency and reducing surface disturbance.
"Hole MD-056 provides important geological information along the southern margin of the Mocoa deposit, where grades improve at depth and the intersection of microdiorite porphyry may be related to the same intrusive phase associated with the recently identified third high-grade zone. At the same time, hole MD-057 confirms the predictability of our current resource model, which is a key step as we increase drill density in selected areas of the deposit with the objective of upgrading resources and advancing Mocoa toward PEA-level evaluation." – Edwin Naranjo Sierra, Vice-President of Exploration.
Table 1 – Assay results for drill holes MD-056 and MD-057.
*Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 5.278 × Mo (%), utilizing metal prices of Cu - US$4.00/lb and Mo - US$20.00/lb and metal recoveries of 90% Cu and 95% Mo. Grades are uncut. Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
MD-056 Drill hole MD-056 was designed to test the southern margin of the current MRE1 footprint, an area drilled by shallow and sub-vertical holes completed (M10, M12 and M30) by Ingeominas and United Nations that provided limited information on the deeper extent of the porphyry system (Figure 2). This hole follows the encouraging results reported from hole MD-054 (refer to news release dated January 29, 2026), which intersected copper and molybdenum grades above the 2026 MRE block model1 along the southern edge of the deposit. Together, these holes are helping refine the geological understanding of this under-drilled sector of the system and its potential connection toward the La Estrella target (Figure 2 and 3).
Hole MD-056 intercepted higher copper and molybdenum grades at depth, returning 386 metres grading 0.39% CuEq* (0.20% Cu and 0.04% Mo) starting at 307 metres, including the last 77 metres of the hole grading 0.49% CuEq* (0.33% Cu and 0.03% Mo) (Table 1 and Figure 3). Similar to MD-054, hole MD-056 intersected continuous Mocoa-style porphyry mineralization, characterized by disseminated chalcopyrite and molybdenite hosted within hydrothermally altered porphyry phases and associated quartz-sulfide stockwork veining (Figure 4). Importantly, copper and molybdenum grades improved at depth, where the hole intersected a microdiorite porphyry phase displaying strong potassic alteration and stockwork veining (Figure 4D). This intrusive phase is interpreted to be comparable to the microdiorite porphyry associated with the recently identified third high-grade zone within the Mocoa system.
The presence of this intrusive phase at the southern margin suggests that the fertile intrusive architecture controlling higher-grade mineralization elsewhere within the deposit may continue into this sector, reinforcing the exploration potential along the southern edge of the current resource footprint. Hole MD-056 also represents one of the first mother holes drilled in the history of the Mocoa project, designed to serve as the parent hole for future directional daughter holes that will allow multiple targets to be tested efficiently from a single drill platform.
Hole MD-057 Drill hole MD-057 was completed as part of the Company's infill drilling strategy, targeting an area of the deposit characterized by wider historical drill spacing (Figure 5) within the current MRE1 footprint with the objective of potentially upgrading portions of the Inferred Mineral Resource to the Indicated category in support of future PEA-level technical evaluation. The hole intersected continuous copper and molybdenum porphyry mineralization (Figure 6) typical of the Mocoa system, returning grades consistent with, and locally exceeding, those predicted by the current MRE block model1. MD-057 represents one of the first mother holes drilled in the history of the Mocoa project, forming part of the Company's strategy to utilize directional drilling technology to efficiently test multiple targets from a single drill platform. This approach improves drilling efficiency, increases geological information per metre drilled, and reduces surface disturbance.
Hole MD-057 returned 257 metres grading 0.63% CuEq* (0.47% Cu and 0.03% Mo) starting at 275 metres, including 191 metres grading 0.72% CuEq* (0.54% Cu and 0.034% Mo) from 341 metres, within a broader interval of 476 metres grading 0.43% CuEq* (0.28% Cu and 0.029% Mo) starting at 56 metres (Table 1 and Figure 5). Drilling of MD-057 was completed at the planned design depth for this mother hole, corresponding approximately to the base of the conceptual open-pit shell currently used for resource evaluation. The hole was terminated while still intersecting strong copper and molybdenum mineralization, as the primary objective at this location was to establish a mother hole from which directional daughter holes (Figure 5) can be drilled to test additional portions of the porphyry system. These results reinforce the geological continuity and reliability of the resource model and support the Company's strategy of increasing drill data density in selected areas of the deposit.
Hole MD-055 Drill hole MD-055 was initiated from the same existing drill platform later used for hole MD-057, targeting grade continuity at depth between high-grade results intercepted in holes MD-050 (refer to news release dated October 7, 2025) and MD-052 (refer to news release dated December 11, 2025) on the recently identified third high-grade zone. During drilling an equipment malfunction prevented the hole from reaching its planned target depth and the hole was ultimately abandoned before the intended geological objective could be properly tested. The issue has since been identified and resolved, and drilling operations have continued normally from the same drill pad. The platform was utilized for hole MD-057, which was completed successfully, and remains available for additional follow-up drilling designed to evaluate the third high-grade zone and surrounding mineralized system in this sector of the deposit.
Qualified Person and Technical Notes
Edwin Naranjo Sierra, Vice-President of Exploration for Copper Giant, is the designated Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and approved the technical information in this news release. Mr. Naranjo holds an MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo is not independent of the Company.
Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that all or any part of the Inferred Mineral Resources will be upgraded to an Indicated or Measured category.
Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 5.278 × Mo (%), utilizing metal prices of Cu - US$4.00/lb and Mo - US$20.00/lb and metal recoveries of 90% Cu and 95% Mo.
1 Notes on the MRE of the project
The MRE was completed by Kevin Hon, B.Sc., P.Geo., Senior Resource Geologist, and Warren Black, M.Sc., P.Geo., Senior Consultant: Mineral Resources and Geostatistics, both of APEX. Mr. Hon and Mr. Black are independent Qualified Persons, as defined by NI 43-101, and are responsible for the completion of the Mineral Resource Estimate, with an effective date of November 18, 2025. Michael Dufresne, M.Sc., P.Geo., President & CEO of APEX, completed a peer review of the estimate.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
Economic assumptions used include US$4.00/lb Cu, US$20.00/lb Mo, process recoveries of 90% for Cu and 95% for Mo, a US$10/t processing cost, G&A costs of US$1.00/t, and a 3% NSR royalty
CuEq* values are calculated using a Cu-to-Mo value ratio of 1:5.278, incorporating both metal prices and metallurgical recoveries.
The constraining pit optimization parameters include a US$2.5/t mining cost for both mineralized and waste material and 45° slopes. Pit-constrained Mineral Resources are reported at a cutoff of 0.25% CuEq*.
About the Mocoa Porphyry System
The Mocoa Project is located in Colombia's Department of Putumayo, approximately 10 kilometres from the town of Mocoa in the country's south. Copper Giant controls more than 132,499 Ha of district-scale tenure through granted titles and applications, covering a significant portion of the Jurassic porphyry belt--an underexplored and highly prospective metallogenic corridor within the northern Andes.
Mocoa was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government. Follow-up programs between 1978 and 1983 included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Subsequent drilling by B2Gold in 2008 and 2012 refined the geological interpretation and confirmed the large scale of the system.
The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics of the Central Cordillera, a 30-kilometre-wide tectonic belt that extends into Ecuador and also contains major porphyry systems such as Mirador, Warintza, San Carlos, and Panantza. Mocoa exhibits classic porphyry-style zonation with a potassic core surrounded by sericite and propylitic alteration. Mineralization consists principally of disseminated chalcopyrite and molybdenite, accompanied locally by bornite and chalcocite, and is associated with stockwork veining and hydrothermal breccias.
A distinguishing geological feature of Mocoa is the presence of a fertile magmatic window spanning roughly ten million years, a prolonged and unusually productive interval of magma generation and evolution that is not commonly observed in other Jurassic porphyry systems within the same belt. This extended fertile period provides a compelling explanation for the system's large metal endowment, broad alteration footprint, and overlapping intrusive and hydrothermal events.
The deposit demonstrates more than 1,000 metres of vertical continuity, with multiple intrusive phases, brecciation episodes, and vein generations reflecting a dynamic and long-lived magmatic–hydrothermal evolution, likely influenced by more than one porphyry center. Mocoa remains open in all directions, and several satellite targets across the broader land package support the interpretation of a district-scale mineralized system.
Mocoa's Mineral Resource Estimate1 comprises Inferred resources of 12.7 billion pounds (Blbs) copper-equivalent (CuEq*) at an average grade of 0.51% CuEq*, including 7.7 Blbs of copper at 0.31% Cu and 1.0 Blbs of molybdenum at 0.039% Mo, within 1,120 million tonnes (Mt).
Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition--responsibly, efficiently, and with long-term positive impact.
The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction.
Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity--and the catalyst for the Company's name and evolution.
Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring values for all stakeholders and playing a meaningful role in the global energy transition.
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.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the assay results of drill holes 56 and 57, the potential of drill hole 55, the outcome of the Company's current resource expansion strategy; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Copper Giant does not assume any obligation to update any forward-looking statements.
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