Fuerte Metals hits 14.3 g/t AuEq over 3.0 m, 7.5 g/t AuEq over 7.5 m, and 7.5 g/t AuEq over 2.8 m at its Cristina Project, Chihuahua, Mexico

Vancouver, December 11, 2024 - Fuerte Metals Corp. (TSXV: FMT) (OTCQB: FUEMF) ("Fuerte" or the "Company") is pleased to report results from the most recent five holes of a diamond drilling program at its wholly-owned Cristina precious metals project in southwestern Chihuahua State, Mexico.

Fuerte has now reported thirty holes totalling 7,936.5 metres of drilling as part of a 40-50 hole, 21,000 metre drill program. The Cristina project consists of multiple outcropping quartz veins that are frequently greater than 10 metres in width and extend for at least a five-kilometre strike length. Four parallel mineralized vein zones have been mapped and sampled to date, with most of the existing mineral resource estimate at Cristina contained within only one of the vein zones, the Guadalupe vein (Figure 1). These latest results are widely spaced expansion holes from two additional vein areas, Los Ingleses and Mexico Libre. The two holes reported from Los Ingleses are located approximately 2 km to the north of the Guadalupe vein system, while the three holes reported here from Mexico Libre are approximately 800 m NE of Guadalupe (Figure 1).

Drilling Highlights

Highlights of the holes reported here, from the Los Ingleses and Mexico Libre vein systems, include:

• 7.5 g/t AuEq over 2.8 m estimated true width (ETW) (1.9 g/t Au, 67 g/t Ag, 6.81% Zn, 1.06% Pb and 0.42% Cu) in hole ACD-24-247 in the Los Ingleses vein system

  • This 2.8 m wide intercept occurs within a broader mineralized zone measuring 3.8 g/t AuEq over 9.0 m ETW (1.5 g/t Au, 42 g/t Ag, 2.48% Zn, 0.48 % Pb, 0.18% Cu)

• 7.5 g/t AuEq over 7.5 m ETW (5.3 g/t Au, 40 g/t Ag, 1.98% Zn, 1.01% Pb and 0.16% Cu) in hole ACD-24-248 in the Mexico Libre vein system

  • This 7.5 m wide intercept occurs within a broader mineralized zone measuring 3.6 g/t AuEq over 17.5 m ETW (2.4 g/t Au, 23 g/t Ag, 1.00% Zn, 0.49 % Pb, 0.08% Cu)

• 8.1 g/t AuEq over 0.8 m ETW (2.7 g/t Au, 39 g/t Ag, 7.66% Zn, 1.58 % Pb, 0.15% Cu) in hole ACD-24-249 in the Mexico Libre vein system

• 14.3 g/t AuEq over 3.0 m ETW (8.6 g/t Au, 91 g/t Ag, 6.16% Zn, 1.41 % Pb, 0.40% Cu) in hole ACD-24-250 in the Mexico Libre vein system

Tim Warman, Atacama's CEO, commented: "The Los Ingleses and Mexico Libre veins have seen very little drilling to date, so it's especially encouraging to see multiple high-grade intercepts from both these areas, especially the gold-rich intercepts at Mexico Libre. The current drilling program has been extremely successful thus far in discovering, defining and extending the higher-grade zones that we've encountered in all the vein systems we've drilled to date. These multiple higher-grade zones will form the basis for the underground resource estimate that will follow completion of the 21,000 m drilling program in Q3 of next year."

Geology and Context of Results

Holes ACD-24-246 and -247 were drilled as part of a seven hole pattern on the Los Ingleses vein system (Figure 2):

• ACD-24-246 encountered a narrow zone of mineralisation beneath previous higher-grade intercepts in ACD-24-245, as seen on section A-A' (Figures 2 & 3) and defines the base of a newly discovered high-grade zone open to the east

• ACD-24-247 is the most westerly of the recent holes at Los Ingleses and shows one of the best intercepts to date from this vein, with 7.5 g/t AuEq over 2.8 m ETW. This hole is the only one on this section, and there is an almost 1.4 km untested gap to the west of ACD-24-247. Mineralisation remains open both vertically and along strike to the west (Figures 2 & 4) in this second newly discovered high-grade zone at Los Ingleses.

Holes ACD-24-248, -249 and -250 were drilled as part of a five-hole pattern along approximately 380 metres of strike length on the Mexico Libre vein (Figure 5).

• ACD-24-248 encountered a wide zone of high-grade, gold-rich mineralization (7.5 g/t AuEq over 7.5 m ETW) that can be traced for at least 150 m along strike from previous holes ACD-19-121 (17.1 g/t AuEq over 1.5 m ETW) in the west to ACD-19-103 (15.2 g/t AuEq over 3.6 m ETW) in the east. This drill hole adds confidence to the continuity of this high-grade body, with potential for additional high-grade bodies along strike. (Figures 5 & 7).

• ACD-24-249 was drilled approximately 130 m southwest of ACD-24-248 and intercepted a narrower zone of high-grade mineralisation (8.1 g/t AuEq over 0.8 m ETW) in the Mexico Libre vein (Figures 5 & 6). This intercept expands the high-grade body to the west for a total strike length of over 250 metres.

• ACD-24-250 was collared 90 m NE of ACD-24-248 and intercepted 14.3 g/t AuEq over 3.0 m ETW, demonstrating the continuity of this gold rich zone along strike and adding confidence in the high-grade body towards its eastern end. (Figures 5 & 8).

The thirty holes completed to date in 2024 have successfully defined a series of continuous higher-grade zones extending over several hundred vertical metres within the main Guadalupe vein, and now within the Los Ingleses and Mexico Libre vein systems. These higher-grade zones remain open along strike and at depth.

The Cristina deposit is an epithermal to mesothermal vein system where the mineralisation is predominantly gold and silver, with lesser base metal values. At least four known parallel vein zones trend east-west to northeast-southwest and are hosted in an andesitic volcanic sequence which forms part of the Lower Volcanic Sequence of the Sierra Madre Occidental range. The andesites are intercalated locally with dacitic intrusions and related lava flows and breccias, and the sequence is in turn cut by andesitic and hornblende-plagioclase porphyry following fault trends. In some areas the veins are covered by post-mineral rhyolite of the Upper Volcanic Sequence.

Figure 1 - Known vein systems and existing drill holes at the Cristina Project. Resource pit in Figures 1 through 8 is based on the National Instrument 43-101 compliant report titled "Technical Report on the Mineral Resource for the Cristina Project" prepared for TCP1 Corporation and Atacama Copper Corporation by Independent Mining Consultants Inc., with an effective date of January 1, 2023, and issue date of December 1, 2023.

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Figure 2 - Location of drill holes and cross-sections from the current release, Los Ingleses vein system.

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Figure 3 - Cross-section A-A' through the Los Ingleses vein system with holes ACD-24-245 and -246.

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Figure 4 - Cross-section B-B' through the Los Ingleses vein system showing multiple, near-surface high-grade vein intercepts in hole ACD-24-247. This high-grade zone remains open vertically and laterally to the west.

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Figure 5 - Location map of the Mexico Libre vein system, with current and historical drill holes, as well as cross section locations for this release.

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Figure 6 - Cross-section C-C' through the Mexico Libre vein system showing near-surface vein intercept in hole ACD-24-249. This section is at the western end of five holes drilled over approximately 380 m of strike length along the Mexico Libre vein.

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Figure 7 - Cross-section D-D' through the Mexico Libre vein system showing the wide, near-surface high-grade vein intercept in hole ACD-24-248.

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Figure 8 - Cross-section E-E' through the Mexico Libre vein system showing the near-surface high-grade vein intercept in hole ACD-24-250.

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Table 1: Detailed Drill Results

Gold equivalent formula: AuEq = Au + 0.014*Ag + 0.532*Zn + 0.379*Pb + 1.525*Cu (recoveries were assumed to be 100%). Metal Prices used: $1700/oz Au, $23.61/oz Ag, $1.32/lb Zn, $0.94/lb Pb and $3.78/lb Cu.

The goal of targeting the higher-grade zones within the main Guadalupe Vein, as well as other high-grade veins in the area, is to both increase the size and the grade of the resource and demonstrate the underground resource potential at Cristina. The current, primarily open-pit mineral resource estimate comprises:

• Indicated resources of 17.5 Mt at 0.51 g/t gold, 33.8 g/t silver, 0.47% zinc, 0.19% lead and 0.04% copper (1.33 g/t AuEq grade), for a contained 752,000 gold-equivalent ounces.

• Inferred resources of 19.0 Mt at 0.51 g/t gold, 27.5 g/t silver, 0.50% zinc, 0.19% lead and 0.05% copper (1.27 g/t AuEq grade), for a contained 777,000 gold-equivalent ounces.

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

Quality Assurance and Quality Control Procedures

Drill core at the Cristina project is predominately HQ size with a diameter of 63.5 mm. Drill core samples are generally 1.50 m long along the core axis with allowance for shorter or longer intervals if required to suit geological constraints. After logging intervals are identified to be sampled, the core is cut and one half is submitted for assay. Sample QA/QC measures include unmarked certified reference materials, blanks, and field duplicates are inserted into the sample sequence and make up approximately 5% of the samples submitted to the laboratory for each drill hole. Samples are transported to lab facilities in Durango or Hermosillo Mexico, for sample preparation. Sample analysis is carried out by ALS Labs, with fire assay, including over limits fire assay re-analysis, and multi-element analysis completed in North Vancouver, Canada. Drill core sample preparation includes fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250-gram split to at least 85% passing 75 microns. Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy of a 30 g sample (Au-AA25). Multi-element chemistry is analyzed by 4-Acid digestion of a 0.25-gram sample split (ME-ICP61) with detection by inductively coupled plasma emission spectrometer for a full suite of elements. Gold assay technique Au-AA25 has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the initial assay technique is sent for gravimetric finish via method Au-GRA21. Silver analyses by ME-ICP61 have an upper limit of 100 ppm. Samples with over-limit silver values are first re-analyzed by ICP with a larger 0.4 g sample split, which has an upper limit of 1,500 ppm. Silver assays above 1,500 ppm are re-analyzed by fire assay with gravimetric finish Ag-GRA21. ALS Labs is an ISO/IEC accredited assay laboratory.

Qualified Person

Mr. Charlie Ronkos, MMSA is Fuerte's EVP Exploration and the Qualified Person who has approved the technical information disclosed in this release.

Mr. Jacob W. Richey, P.E. of IMC is the Qualified Person responsible for the MRE. Details of the Cristina MRE can be found in the Company's press release of October 30, 2023, and in the National Instrument 43-101 compliant report titled "Technical Report on the Mineral Resource for the Cristina Project" prepared for TCP1 Corporation and Atacama Copper Corporation by Independent Mining Consultants Inc., with an effective date of January 1, 2023, and issue date of December 1, 2023. This report is available under the Company's SEDAR+ profile at www.sedarplus.ca and on the Company's website.

About Fuerte Metals Corporation

Fuerte Metals is a well-funded resource company adding value through the acquisition, exploration, and development of copper and precious metals projects in the Americas. The company is carrying out a 21,000 m drilling campaign at its Cristina precious metals project in Chihuahua Mexico, with the goal of significantly expanding the existing mineral resource estimate with a focus on underground mining. In Chile, the Placeton/Caballo Muerto project hosts several untested porphyry copper targets situated between the large-scale Relincho and El Morro/La Fortuna copper-gold deposits of the Nueva Union joint venture between Teck and Newmont Mining.

Additional Information

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the anticipated timing of drilling and management's objectives, strategies, beliefs and intentions. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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