Firetail Resources Limited (ASX: $FTL) to acquire York Harbour Copper-Zinc-Silver Project

Firetail Resources Limited (ASX: $FTL) has executed a binding option agreement for the acquisition of up to 80% of the York Harbour Project. The project, located in Newfoundland, Canada, is a Cyprus-style volcanogenic massive sulphide (VMS) exploration project. The acquisition is part of Firetail's strategic process to identify opportunities in a rising copper market.

Executive Commentary on York Harbour Project Acquisition

The Firetail Board began a strategic process over 12 months ago of identifying opportunities in a rising copper market. The culmination of this process is the acquisition of the York Harbour Project, which we believe provides an exceptional opportunity to create value for our shareholders. Our intention was to find strategic copper assets in world-class locations, which would be complementary to our existing portfolio of battery metals projects. We see York Harbour ticking all of these boxes. This acquisition broadens our copper exposure to complement the early-stage copper project we are currently exploring in Peru. York Harbour presents an advanced brownfield opportunity in a proven district for copper mineralization. The near-term potential to define a mineral resource and expand the footprint is clear from our due diligence, and our team is very excited to get on the ground and start the exploration program. In conjunction with the York Harbour acquisition, we have achieved a significant milestone at the Picha Copper Project. 5,000m of drilling has been safely executed without incident and the outcome of the drilling has met our expectations. To have grades of 2.8% Cu over a 13m down hole interval indicates the potential of this asset. We will now focus on the interpretation of the data, geological modelling and determine the best way to unlock the potential at Picha. The next phase of the program will be to take the learnings from the maiden drill program and use this to help plan the next phase of exploration work.

Summary of York Harbour Project Acquisition

Firetail Resources Limited (ASX: $FTL) has executed a binding option agreement for the acquisition of up to 80% of the York Harbour Project, a Cyprus-style volcanogenic massive sulphide (VMS) exploration project located in Newfoundland, Canada. The project presents an advanced brownfield opportunity in a proven district for copper mineralization. The near-term potential to define a mineral resource and expand the footprint is clear from the due diligence. The company also achieved a significant milestone at the Picha Copper Project with successful drilling results. The next phase of the program will focus on the interpretation of the data, geological modelling, and planning the next phase of exploration work. Firetail's strategic process of identifying opportunities in a rising copper market has led to the acquisition of the York Harbour Project, which is expected to create value for the shareholders.