Red Metal Resources Delivers Copper Sulphide Ore Ahead of Schedule

VANCOUVER, BC, Sept. 3, 2026 /CourierPR/ -- Red Metal Resources Ltd. has announced the successful delivery of copper sulphide ore from its Farellon Project to ENAMI's processing plant in Vallenar, Chile. The deliveries, completed on August 20th and 21st, 2026, were made three months ahead of the projected timeline, marking a significant milestone for the company.

According to the agreement between Red Metal Resources and the lessee, Minera KMT SpA, KMT was required to deliver the ore within seven months following the May 14th, 2026, mining agreement. The first deliveries were completed ahead of schedule, reflecting KMT's efficient development of the Level 7 north tunnel at Farellon 1/8, where the ore was stockpiled and transported to ENAMI’s processing plant via 16 truckloads, totaling approximately 591.66 tonnes.

Red Metal Resources holds a 10% net sales royalty (NSR) on all minerals sold to ENAMI from the Farellon 1/8 concession. This NSR, after deducting a pre-existing 1.5% royalty, nets Red Metal 8.5%. The company is using this non-dilutive revenue to support general and administrative costs while continuing to develop and prioritize drill targets at the Carrizal Copper-Gold-Cobalt Property.

Caitlin Jeffs, President and CEO of Red Metal Resources, stated, "These first ore deliveries are a meaningful milestone for Red Metal, especially given the current high trading price of copper. They provide non-dilutive revenue, which is crucial for our ongoing operations and exploration efforts."

Red Metal has made significant progress in 2026, advancing its portfolio in Chile through various initiatives. The company completed a detailed LiDAR survey and commenced a three-dimensional induced polarization (IP) geophysical survey, defining a kilometre-scale target open at depth and along strike. Additionally, Red Metal signed two small-scale mining lease and royalty agreements, strengthening its capital markets presence and receiving warrant proceeds.

Looking ahead, KMT will continue development and ore production on Level 7, aiming to reach minimum production levels set out in the mining lease. Red Metal will integrate the IP survey into its exploration data to further refine and develop priority drill targets for late 2026.

Jeffs emphasized, "We are optimistic about the future and the potential of the Carrizal Property. However, we remain cautious and will continue to monitor the situation closely."

Red Metal Resources is focused on acquiring, exploring, and developing clean energy and strategic minerals projects. The company's current portfolio includes projects in Chile and Canada, with the Chilean projects located in the prolific Candelaria IOCG belt.