Radius Gold Receives Authorization to Start Drilling at Tierra Roja

Radius Gold Inc. has received the necessary authorization to commence exploration activities and an initial drill program at its Tierra Roja copper project in the Ático district of Caravelí, Province of Arequipa, southern Peru. The authorization was issued by the Gerencia Regional de Energía y Minas (GREM) of the Regional Government of Arequipa, covering the Ferruginosa I-400 concession, the main target area of the Tierra Roja project.

The company had previously reported that two permissions were required: an environmental authorization for the drill program and a surface right from the Superintendencia Nacional de Bienes Estatales (SBN). The environmental authorization was granted in 2025 and covers the planned drill platforms and access. In January 2026, the Company reported that GREM had approved the technical review for surface access, and the file had moved to the SBN. In March 2026, the SBN granted provisional surface access, and the Company filed its application with GREM for authorization to initiate exploration activities. The issuance of the GREM authorization was delayed due to an observation made by the SBN on the project coordinates. The observation was appealed, and the appeal was upheld.

With the GREM authorization now received, the provisional SBN surface access permits Radius Gold Inc. to proceed with exploration while a definitive surface easement is finalized. The company is moving ahead with the initial drill program as quickly as possible. Contracts are being negotiated, access is being prepared, and a camp is being established. The Company aims to begin drilling before the end of the year and will provide further updates on the timing as the work advances.

Additional rock-chip geochemical sampling has been completed at Tierra Roja, and the samples have been submitted to the laboratory. Results will be reported when received. These samples cover a broader area of the property away from the core zone, which has been the focus of sampling thus far. Due to the extensive caliche cover over most of the property, a systematic grid approach was not followed, but additional strategies, such as shallow percussion drilling or auger sampling, are being evaluated to systematically collect material from below the caliche.

Radius Gold Inc. is an exploration company focused on the discovery and advancement of high-quality projects in the Americas. The company's strategy is to identify, acquire, and advance exploration opportunities with strong discovery potential.