Minsud Resources Corp. announced the receipt of assay results from nine (9) additional drillholes, which were completed as part of the ongoing Phase IV drilling program at the Chita Valley Project, San Juan Province, Argentina. Fifty-two (52) drillholes have been completed to date in the Phase IV program, encompassing a total of 38,991 metres.

Assay results have been received from drillholes CHDH23-82 through CHDH23-90, which total 8,186 metres. Four additional drillholes, CHDH23-91 through CHDH23-94, are currently awaiting assay. Key highlights and associated figures are provided.

Chinchillones HSE Target NNE: High-grade body with mineralization extending between 800 to 1,000m depth: Continued drilling in Phase IV was mainly concentrated in the SW-NE corridor at the eastern end of the Chinchillones target. Drilling tested the lateral and depth continuity of the previously reported drillholes CHDH23-73 and CHDH23-62, the High-Grade sector of the main mineralized bodies. Drilling intersected porphyritic dacite bodies with disseminated and early mineralization hosted in veinlets, with marked advanced argillic alteration, superimposed on quartz-sericitic alteration of the early bodies at depth.

These dacites are cross-cut by high-grade hydrothermal-intrusive breccias. Cu-Au mineralization occurs disseminated in the porphyritic dacite and largely within the breccia matrix. The geometry and extent of this zone has not yet been fully established, but this confirms the high-grade mineralization found at depth in previously reported holes.

CHDH23-82 was drilled with an orientation of 315°/-75° to a depth of 921 metres: Significant Drill Intercepts: 767.0m @ 0.25% Cu, 0.05 g/t Au and 4.91 g/t Ag, from 154m depth. including 18.0m @ 0.95% Cu, 0.21 g/t Au, 10.06 g/t Ag, from 684m depth. Geology: The drillhole was comprised of intercalated phreatomagmatic breccia and fine to medium grained porphyritic dacite, with moderate to strong advanced argillic alteration with pyrophyllite and kaolinite.

Few local pyrite veins with moderate (3-5%) disseminated chalcopyrite, chalcocite, and pyrite. 5 to 10 cm HS veins between 380 to 400m with chalcopyrite, tennantite, and sphalerite. CHDH23-87 was drilled with an orientation of 315°/-75° to a depth of 850 metres: Significant Drill intercepts: 700.0m @ 0.23% Cu, 0.08 g/t Au, 5.47 g/t Ag, from 112m.

Including 18.0m @ 1.77% Cu, 0.40 g/t Au, 101.2 g/t Ag, 0.32% Zn, from 112m. The above subinterval also includes 8.0m @ 2.06% Cu, 0.18 g/t Au, 42.3 g/t Ag, and 0.25% Zn, from 443m. Geology: Medium-grained porphyritic dacite with argillic alteration and pyrophyllite in fractures, moderate sulphides (pyrite, chalcopyrite, sphalerite) and few fine HS veins.

Highlights included abundant Cu-Zn in a fracture zone (pyrite-chalcopyrite-tennantite-sphalerite +/- galena). At depth, medium to fine grained porphyritic diorite with large, abundant quartz eyes, moderate quartz-sericite alteration and pyrophyllite in fracture fill and HS veins. Highlight stockwork zone with 18-20 vein/metre frequency comprising B-A and molybdenite veins.

Abundant molybdenite in quartz veins, with early microveins associated with chalcopyrite and digenite. Thin, zoned HS veins with chalcopyrite, sphalerite and tennantite. Finely disseminated mineralization in cavity fills and veins.

Moderate (5-7%) sulphides comprising pyrite, chalcopyrite, digenite, and molybdenite. HS veins with chalcopyrite and sphalerite increase in intensity near the bottom of the hole from 766-776m. CHDH23-88 was drilled with an orientation of 315°/-75° to a depth of 801 metres: Significant Drill Intercepts: 715.0m @ 0.24% Cu, 0.11 g/t Au, and 4.92 g/t Ag, from 86.0m to end of hole, open at depth.

Including 34.0m @ 1.33% Cu, 0.71 g/t Au, and 6.13 g/t Ag, from 582.0 to 616.0m. Geology: Intercalated, fine- to medium-grained porphyritic dacite. Moderate to strong quartz-sericite alteration and pervasive silicification.

Abundant, finely disseminated mineralization, in addition to cavity fills and microveins. Moderate pyrite and chalcopyrite. From 746m, medium-grained porphyritic diorite with moderate chloritic/sericitic alteration and advanced argillic alteration in fractures and veins.

Moderate frequency A+B veins, molybdenite veins and HS veins. Moderate (3%-5%) sulphides, dominantly pyrite with chalcopyrite, sphalerite, tennantite and molybdenite, finely disseminated and in early vein mineralization. New Targets: During the months of September and October, a survey of new areas on the south and west edges of the Chita Valley property began.

The objective is to develop new areas to drill by mid-2024. The survey included surface geological mapping, sample collection for ASD Spectrometry, and a total of 300 rock chip samples. The Company is currently awaiting laboratory results.