Tribeca Resources Corporation announced results from two 250m step-out drill holes, adding 500m of additional strike length for a total of 1 km to this discovery at the Gaby target. This new discovery is part of the Company's La Higuera iron oxide copper-gold (IOCG) project, located in the Coquimbo region of northern Chile. The two holes reported here have intersected an interpreted approximately 130m-wide NNW-trending sub-vertical zone of magnetite-related IOCG-style copper sulphide mineralization.

Drill hole discussion: GBY006 and GBY007 The presence of an approximately 130m-wide NNW-trending sub-vertical mineralized envelope has been interpreted at the Gaby target. It has now been intersected in four drill holes (RCH-LH-07, GBY001, GBY006 and GBY007) on four drill sections over a 650m strike length. Together with thinner, but consistent intersections on the southern end of the zone (RCH-LH-03, RCH-LH-09 and RCH-LH-11) this provides a known strike length of 1km.

The mineralization is typically present from the base of thin gravel cover that ranges in thickness from 0 to 76m. Details of the two new drill holes reported here are as follows: - Drill hole GBY006 was drilled approximately 250m to the north of GBY001 (268m @ 0.66% Cu, 0.14 g/t Au) to a depth of 262.7m on section 4520N. After penetrating 76m of gravel cover it immediately encountered mineralized strongly faulted, veined and locally brecciated andesite with significant magnetite-dominated IOCG alteration.

The mineralization was near continuous in the range of 0.1-0.4% Cu, with occasional 2m intervals up to a maximum of 1.48% Cu and 0.33 g/t Au, to the end of hole at 262.7m. It included a zone of higher-grade mineralization near the bottom of the hole of 26m @ 0.51% Cu, 0.10 g/t Au (0.57% CuEq) from 228-254m. The hole stopped in mineralization with the final 10.7m of the hole averaging 0.39% copper.

- Drill hole GBY007 was located a further 280m north on section 4800N and completed at a depth of 365.85m. It penetrated 68m of gravel cover before intersecting mineralized andesite. The IOCG alteration, faulting, veining and local brecciation was similar to that encountered in GBY006.

The lower portion of the hole included several thick (10-20cm) veins of hematite+chalcopyrite, one of which recorded a single 1m interval of 1.94% Cu, 0.18 g/t Au. The highest grade interval of 44m @ 0.52% Cu, 0.10 g/t Au (0.55% CuEq) was located 28m below the base of cover from 96-140m. The holes reported here were drilled at an angle of 60°, such that if the body is vertical as interpreted the true thickness will be approximately half of the downhole thickness.

Geophysical Data Figure 2 provides an overview of the gravity and additional ground magnetic data collected in Fourth Quarter 2022 at the Gaby target. The interpretation of magnetic susceptibility data conducted on the project has yielded valuable insights, and the magnetite-associated mineralization drilled to date shows a strong spatial correlation with moderate intensity magnetic anomalism (approximately 1000 nT). The moderate magnetic trend continues to at least 400m north of drill hole GBY007.

A strong gravity anomaly of approximately 1 mGal intensity is present 400m to the east of drill hole GBY007, and is coincident with a small copper showing on sporadic outcrop. This provides an additional significant exploration target. Next Steps: Complete drill core logging and receive all assays results from the Phase I program, and revise the 3D geological model.

Analyze and integrate the geophysical data received as part of the Phase 1 program; Select targets for detailed geological mapping, surface geochemistry, and/or further geophysical surveying from the five current targets at the La Higuera project; Develop the Phase 2 work program. Notes on sampling and assaying Analytical samples were collected using 1/8 of the material from each 2m interval for the reverse circulation drilling or ½ HQ core for the diamond drilling and sent to the ALS Laboratory in La Serena, Chile for preparation and then to ALS in Santiago, Chile and Lima, Peru for analysis. Preparation included crushing the RC and core samples to 70% < 2mm and pulverizing 1000g of crushed material to better than 85% < 75 microns.

All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-AA23) and a multielement four acid digest ICP-AES method (ME-ICP61). Where the ME-ICP61 results were greater than 10,000 ppm Cu the assays were repeated with an ore grade four acid digest method (Cu-OG62). The QA/QC procedure for this drilling program utilizes field duplicates, certified reference standards and blanks that comprise approximately 10% of the total samples submitted.

The QA/QC results indicate appropriate accuracy and precision in the assaying program.