Tribeca Resources Corporation announced that drilling has commenced at the Company's La Higuera Project in the Coastal Iron Oxide Copper-Gold (IOCG) Belt of northern Chile. The goal of the planned 2,800m combined reverse circulation (RC) and diamond drilling program is to test interpreted covered extensions to outcropping copper mineralization and historic drill intersections. The La Higuera IOCG Project comprises 4,047 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile.

The project is hosted within Jurassic to Cretaceous age intrusive and volcanic rocks that form part of the Coastal Cordillera. The Project is located within, and adjacent to, the Atacama Fault System, a long-lived system of faults that extends for approximately 1,000 km in northern Chile and is associated with the major copper-gold deposits of the Coastal IOCG Belt. Prominent examples of these deposits include the Candelaria, Mantos Blancos, Dominga and Santo Domingo deposits The La Higuera IOCG Project was the subject of historic geophysical (ground magnetic and Induced Polarization/IP) and drilling work from 2000 to 2013 producing significant drill intersections including: - 285m @ 0.40% Cu, 0.08 g/t Au and 23.5% Fe from 100m (LH-RC-07) at the Gaby target, and - 82m @ 0.35% Cu and 19.2% Fe from 64m (CAB0006) at the Chirsposo target The drilling program will include approximately 2,800m of combined RC and diamond drilling, in an estimated 12 holes at the Gaby and Chirsposo targets.

The approximate hole depths are proposed to be between 150m and 300m. The objective of the drilling program is to test for interpreted shallowly covered extensions to the known mineralization at both the Gaby and Chirsposo targets The extensions to mineralization are interpreted on the basis of IP geophysical data and the interpreted strike direction of mineralization based on outcrop mapping and correlations between the historic drillholes. The two targets are 3 km apart.

Historic drilling at the Gaby target stopped at the northern limit of the outcrop, where hole LH-RC-07 provided the thickest significant copper intersection. The current drilling program will test up to 350m north and 60m up-dip of the intersection in LH-RC-07. At the Chirsposo target the drilling will test for mineralization around and along strike to the northeast from historic hole CAB0006.

In addition to the drilling activities, the Company is currently undertaking a gravity survey program over parts of the La Higuera IOCG Project with the objective of mapping the distribution of the iron oxide alteration (magnetite and hematite) under extensive gravel cover in the district. The gravity data will complement the ground magnetic and induced polarization (IP) data in mapping the distribution of iron oxide alteration that is commonly associated with the IOCG style of copper-gold deposit. The gravity survey is being completed by Geodatos SAIC, a well-known geophysical consulting group in Chile, with stations on a 200m grid with infill down to 100m in selected areas.