Lodestar Minerals Ltd (LSR.AX) Acquisition of Pacifico Cu-Mo-Au Porphyry Project in Chile

Perth, Aug 20, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (3EJ:FRA) (LSMLF:OTCMKTS) announced that it has entered into an Option Agreement, via its wholly owned Chilean subsidiary Tesoro Andes SpA, with Minera Bornita SpA over five Exploration Licences (EL) (Table 1 - Figure 8*) forming part of the Pacifico Cu-Mo-Au Porphyry Project (Pacifico) in Chile's Atacama Region. Lodestar subsidiary has also lodged three contiguous exploration licence applications, comprising the approximately 22 km2 Pacifico Project area.

HIGHLIGHTS

- Project acquired: Lodestar has entered into an Option Agreement over five exploration tenements and pegged three contiguous exploration tenements creating the Pacifico Project - Low initial cash payment: USD $30,000 payable at signing to secure sole access rights to the new Pacifico Copper-Molybdenum-Gold Porphyry Project ('Pacifico')

- Copper prices: Copper prices at all-time highs driven by supply deficits and a market in high demand

- Land package and Prospective trend: ~22km2 of tenure covering a ~six km prospective porphyry corridor that was historically explored as separate northern and southern projects

- World-class neighbours: 42km north of the world-class Relincho deposit owned by Teck Resources and Newmont JV (Reserve of 1,104.5 Mt at 0.41% Cu and 0.021% Mo)

- Strong historical drilling database: ~8,000m of historical drilling has intersected multiple mineralised porphyry units, with porphyritic intrusives intersected from near surface to depths exceeding 700m.

- Under-explored central target: The central portion of the corridor has seen limited historical exploration. Lodestar's recent reconnaissance identified outcropping porphyritic dykes in this area, which were never drilled
- Excellent access: more than 42km of existing tracks and proximity to the Pan-American Highway provide year-round access to all three main target areas

- Near-term deliverables:

o Re-interpretation of historical drilling and geophysical surveys to refine targets

o Surface mapping (including the new Central target area)

o Maiden drilling programme targeted for Q2 CY2027

- Strategic fit: Pacifico provides LSR with a strategic entry into a potentially large-scale copper system, further strengthening the Company's growing Chilean copper portfolio alongside its emerging Los Loros and Three Saints projects

Pacifico Acquisition The Acquisition strategy was to bring the historically separate northern and southern exploration areas into a single project and gives Lodestar the opportunity to assess an approximately six km prospective porphyry corridor using integrated geology, geochemistry and geophysics. Historical work includes 8,039 m of diamond drilling, surface geochemistry and IP/DCIP and magnetometry geophysical surveys.

Commenting on the acquisition, Lodestar CEO & Executive Director Coraline Blaud said:

"Pacifico gives Lodestar and its shareholders a compelling opportunity to consolidate and systematically evaluate an approximately six-kilometre prospective porphyry trend that has previously been explored as separate project areas. Historical drilling has already demonstrated the presence of porphyritic intrusions carrying copper and molybdenum mineralisation, while the central part of the project remains comparatively underexplored and has never been drilled.

Our primary focus is to integrate the historical drilling and geophysical surveys with new geological mapping and surface sampling, particularly across the Central target. This work will be used to define the highest-priority targets for a Lodestar drilling program proposed for Q2 CY2027. The staged option structure provides us with a measured entry into a prospective Chilean copper project while we build the geological case through systematic exploration complementing our emerging Los Loros and Three Saints projects, providing further exposure to a region with strong copper endowment and discovery potential."

Why Pacifico Project

- Consolidated geological view: Lodestar has a full view of the porphyry corridor through the three main target areas (North, Central and South) within one project-scale interpretation rather than as historically separate exploration areas.

- Established exploration dataset: 16 historical diamond holes (~8,000m), surface geochemistry, geophysical surveys including IP/DCIP and magnetics providing a substantial dataset to refine targeting.

- New Central target opportunity: Recent Lodestar reconnaissance has identified outcropping porphyritic dykes in an underexplored and undrilled part of the prospective corridor.

- Portfolio fit: Pacifico adds a potential large-scale Cu-Mo-Au porphyry opportunity to Lodestar's Chilean portfolio alongside the Los Loros Cu-Mo Porphyry and the Three Saints IOCG projects.

Option Agreement Terms Tesoro Andes SpA - Lodestar 100% owned Chilean subsidiary - has entered into an Option Agreement with Minera Bornita SpA over five exploration tenements. The Option may be exercised within five years of the option agreement date of 19 August 2026. The consideration payable for the Option Agreement is summarised in Table 1*.

During the option period, Lodestar will be responsible for all exploration programs and exploration costs in relation to the concessions, including all governmental costs. Lodestar may terminate the agreement at any time during the option term with all payments made being non-refundable. The parties may mutually agree to terminate the option agreement. The agreement will terminate upon the instance of any serious of material breach of the obligations of the agreement by either party.

Aside from the above terms and conditions, there are no other terms and conditions considered material for disclosure to investors.

Project Overview

Pacifico is a porphyry Cu-Mo-Au exploration project located approximately 100 km north-east of the town of Vallenar in the pre-Cordillera of Chile's Atacama Region. The project lies within the broader highly prospective Paleocene metallogenic belt, which hosts a number of world-class copper operations and advanced development projects in central and northern Chile, including Sierra Gorda (KGHM/South32 JV; Total Mineral Resources of 1.82 Bt @ 0.36% Cu, 0.016% Mo, 0.06 g/t Au), Cerro Colorado (BHP; Measured and Indicated Mineral Resources of 502 Mt @ 0.54% Cu) 3 and Spence (BHP; Measured and Indicated Mineral Resources of 1.5 Bt @ 0.45% Cu), Lomas Bayas (Glencore; Total Mineral Resources of 2.8 Bt @ 0.28% Cu), and Relincho (Teck/Newmont JV; Proven and Probable Ore Reserves of 1.1 Bt @ 0.41% Cu and 0.021% Mo, + Measured and Indicated Mineral Resources of 646.1 Mt @ 0.32% Cu and 0.013% Mo).

The regional comparison is provided for geological context only and does not imply that Pacifico has comparable mineralisation, scale, grade, resources or economic potential.

Historical Exploration Historical Drilling

Historical exploration was undertaken by two major companies First Quantum Minerals and Hudbay Minerals. The compiled drilling database contains 16 diamond drill holes for approximately 8,039m:

o First Quantum (2016 -2018): 5 diamond holes for 2,490m

o Hudbay Minerals (2018 - 2020): 11 diamond holes for 5,548.85m. Hudbay historical exploration ceased in 2020 following the company's withdrawal from Chile before receiving the assay results from their latest drilling program.

The historical drilling records that the large hydrothermal alteration footprint on surface is related to several finger-style porphyritic intrusions, ranging from felsic granodiorite and monzogranodiorite to intermediate diorite porphyries. In diamond core, these porphyries host sulphide mineralisation of chalcopyrite and molybdenite in veinlets, disseminated and hydrothermal breccias. The integration of the alteration footprint on surface with the porphyry units recognised in diamond drill holes and on surface, define a Porphyry corridor of six km length within the Pacifico tenements.

Assays confirmed the Cu-Mo mineralisation (Table 1*) with grades up to 0.67% Cu (AMEDD18-004, 197 - 198m) and 817ppm Mo (AMEDD18-004, 254.65 - 256m), and up to 1.03% CuEq (Cu + Mo + Au) (TRE-HBM-05, 230-232m).

Representative longer down-hole intervals from the compiled dataset display the continuous mineralisation from surface, down hole, until ~750m depth.

The historical data have been compiled from available reports compiled by TSX-listed explorers which do not use the 2012 JORC Code, but are considered reliable for the current level of exploration. The historical data, in present form, are not considered sufficient on their own to support the estimation or classification of a Mineral Resource or Ore Reserve in accordance with the JORC Code (2012). The Company is not aware of any exploration results being stated outside of appendix 5A of the 2012 JORC Code.

Geophysical surveys

Historical geophysical coverage includes IP/DCIP and magnetic surveys across large portions of the project area. The available records indicate:

2017 - First Quantum commissioned six NE-SW IP/resistivity profiles totalling approximately 19.05 km, using a pole-dipole array with 150 m dipole spacing.

2018 - Hudbay commissioned 13 E-W DCIP profiles totalling approximately 34.3 km, using a pole-dipole array with 100 m dipole spacing.

2019 - Hudbay commissioned a further seven DCIP profiles totalling approximately 18.25 km, including one line surveyed at 50 m dipole spacing.

2019 - Hudbay commissioned a UAV aeromagnetic survey covering approximately 42.5 km2 with 100 m production-line spacing and 1 km control-line spacing.

Not all original geophysical datasets are currently available to Lodestar. The Company is continuing to compile and assess the historical information and will determine whether reprocessing or acquisition of additional data is warranted.

Geological setting and Exploration Model

The Pacifico porphyry system is emplaced at the north-east margin of the El Carrizo batholith (Upper Cretaceous) in contact with the Upper Cretaceous to lower Palaeocene volcano-sedimentary units of the Hornitos Formation. Surface mapping records an extensive hydrothermal alteration footprint running along this contact.

Historical drilling and mapping have identified multiple porphyritic intrusive phases and associated sulphide mineralisation. The Northern and Southern targets concentrate the previous geological and historical drilling, where quartz-tourmaline breccias, pervasive quartz-sericite stockwork in volcanics and igneous units, and intense silica and advanced argillic alteration are recognised surrounded by a chloritic and propylitic halo.

Recent geological mapping at the Central target has recognised several porphyry finger-like intrusions outcropping along a sheeted vein system. This new finding opens high expectations for this area due the proximity to surface of the porphyritic units and its lack of previous exploration.

Lodestar's current working model is that these intrusions and alteration zones are structurally influenced along a NW-SE trend (porphyry corridor). This is an exploration interpretation that will be tested and refined through data integration, mapping, geochemistry, geophysics and drilling; it should not be interpreted as demonstrating continuous mineralisation over the full approximately six km trend.

Age constraint - Geochronology

Geochronological information compiled from historical work includes U-Pb zircon ages of approximately 61.7-62.5 Ma from three Pacifico porphyry samples. These ages overlap with published age information from the mineralisation-productive monzogranodiorite porphyry dyke at Relincho which returned an age of 62 +/- 2 Ma (K-Ar; Munizaga, 1996) and are considered useful regional geological context. The geological comparison does not imply equivalent mineral endowment or economic potential.

Priority target Areas

North target has the most expressive alteration on surface and contains the densest historical drilling and the deepest tested porphyry intervals. AMEDD18-004 was drilled to 746 m and historical logs and assays indicate the hole ends in mineralisation with expression of sericite-chlorite alteration and pyrite and chalcopyrite sulphides. Lodestar's near-term objective is to integrate geological drillhole logging, geochemistry and geophysics to better constrain the orientation of the intrusive phases and identify vectors for follow-up drilling laterally and at depth.

Central Target has not been previously drilled. Recent field reconnaissance by Lodestar identified outcropping sheeted porphyry fingers. Detailed mapping, surface geochemistry and review of the historical geophysical response will be used to determine whether these dykes represent a priority drill target and to define their geometry.

Southern target contains historical drilling by Hudbay and broad silica-argillic surface alteration. Historical holes intersected porphyritic intrusive rocks with anomalous Cu, Mo and locally Au values. Lodestar will reassess the historical geological and geophysical data to determine the lateral and depth extent of the target and to identify areas requiring further surface work or drilling.

*To view the full release including tables and figures, please visit:
https://abnnewswire.net/lnk/64B66S27

About Lodestar Minerals Ltd

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorer. Lodestar’s projects include the Los Loros Porphyry Cu-Mo-Au and the Three Saints IOCG projects in Chile, the 100% owned Ned’s Creek Gold and Earaheedy projects in Western Australia, and the Virgin Mountain HREE project in USA. 

Lodestar also has exposure to lithium via its 27.5M performance rights in ORE Resources (ASX:OR3) who own the Kangaroo Hills and Miriam Projects in Western Australia. 
 

   

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