Copper Giant Resources Corp. (TSXV: CGNT | OTCQB: LBCMF | FRA: 29H0) has released assay results from two drill holes at its Mocoa copper-molybdenum porphyry project in Putumayo, Colombia, extending mineralization below the current conceptual pit and confirming a third mineralized breccia corridor at the deposit.

Deep infill hole MD-064 intersected 1,052 meters of continuous mineralization from 155 meters downhole, including 486 meters grading 0.57% copper equivalent (CuEq) — 0.41% Cu and 0.029% Mo — which exceeds the deposit’s current mineral resource estimate (MRE) average of 0.51% CuEq. A higher-grade core of 115 meters returned 0.65% CuEq (0.34% Cu and 0.058% Mo) from 552 meters. The final 180 meters of the hole intersected the western breccia, returning 0.44% CuEq (0.36% Cu and 0.015% Mo), including 72 meters of 0.55% CuEq (0.51% Cu and 0.008% Mo).

Cross-section along hole MD-063 (section width of 100 meters), showing the 2026 MRE block model and the Cu and Mo grades intercepted. Results to date continue to demonstrate Cu and Mo mineralization below the current conceptual pit design and within areas previously modeled as waste, supporting the potential for resource expansion along the southern margin of the system toward the La Estrella corridor. Kick-off (KO) points for directional daughter holes are indicated. (CNW Group/Copper Giant Resources Corp.)

Further Expansion of Directional Drilling

The western breccia intersection provides the first modern drill confirmation of a corridor identified only historically, establishing Mocoa as a system with three drill-tested mineralized breccia corridors — western, central, and eastern — consistent with a large, multi-phase porphyry deposit with multiple mineralized centers.

Representative core photographs from MD-063 (Figures 2A–C) and MD-064 (Figures 2D–F) illustrating porphyry-style mineralization, hydrothermal alteration, and vein-hosted copper and molybdenum mineralization. (CNW Group/Copper Giant Resources Corp.)

Directional daughter hole MD-063, drilled from the platform of mother hole MD-056, targeted the southern expansion of the deposit below the current conceptual pit. It returned 808 meters of continuous mineralization from its kick-off point, including 303 meters grading 0.41% CuEq (0.25% Cu and 0.031% Mo) from 541 meters downhole — ground the company had previously modeled as waste. The result extends known mineralization at depth and to the south toward the La Estrella target area, where Copper Giant’s third drill rig is currently conducting maiden drilling from the other direction.

“We are increasing confidence in what we have and adding to what is still to come, exactly what we want heading into the PEA.” -Edwin Naranjo Sierra, Vice President of Exploration

Copper Giant uses directional drilling to test multiple targets from a single pad without constructing new roads or platforms in Mocoa’s steep terrain, which reduces surface disturbance and cost per meter of geological information. MD-063 follows a series of holes — MD-054, MD-056, MD-058, and MD-061 — that have progressively identified stronger mineralization along the southern margin of the current MRE footprint. The area was historically tested only by shallow and sub-vertical drilling.

Plan view of the Mocoa porphyry Cu-Mo deposit and surrounding exploration targets. Black dots represent drill pads. The location of historical hole M14, where the western breccia was first recognized, is also shown. (CNW Group/Copper Giant Resources Corp.)

“These two holes do something more valuable than chasing a high number. MD-064 confirms the continuity and grade of the deposit across more than a kilometre of core, which leads us to believe the resource model we will build the PEA on is sound. MD-063 shows the system continuing below the current pit, in ground we had modelled as waste, and the first modern confirmation of the western breccia tells us Mocoa is a larger, multi-center system than the current resource captures. We are increasing confidence in what we have and adding to what is still to come, exactly what we want heading into the PEA,” said Edwin Naranjo Sierra, Vice-President of Exploration.

More Testing Planned for the Future

The Mocoa project hosts a 1.12-billion-tonne Inferred resource containing 12.7 billion pounds of CuEq — 7.7 billion pounds of copper at 0.31% Cu and 1.0 billion pounds of molybdenum at 0.039% Mo — with an effective date of November 18, 2025. Upcoming catalysts include an updated MRE, a second stage of metallurgical testing, the planned preliminary economic assessment (PEA), and assay results from the La Estrella maiden drilling program. Earlier metallurgical tests at Mocoa returned copper recoveries of up to 92.3% and molybdenum recoveries of up to 97.4%, exceeding the recovery assumptions used in the current resource model.

Drilling is advancing toward the emerging Mocoa–La Estrella corridor from both directions, while MD-064 validates higher-grade domains within the MRE footprint. Plan view of holes MD-063 and MD-064 and the location of the cross-sections shown in Figures 3 and 5. MD-063 extends mineralization southward from Mocoa while the company’s third drill rig advances northwest from La Estrella. Kick-off (KO) points for directional daughter holes are shown, illustrating the use of a single drill platform to test multiple targets. (CNW Group/Copper Giant Resources Corp.)

The Mocoa project is located approximately 10 kilometers from the town of Mocoa in southern Colombia’s Department of Putumayo. Copper Giant controls more than 128,300 hectares of district-scale tenure through granted titles and applications across a portion of the Jurassic porphyry belt in the northern Andes. The deposit was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government, with follow-up drilling by B2Gold (NYSE American: BTG; TSX: BTO) in 2008 and 2012. In 2025, Copper Giant finalized a prior consultation agreement with the Inga Condagua Indigenous Nation, a prerequisite for advancing exploration permitting.

Edwin Naranjo Sierra, VP of Exploration, is the NI 43-101 Qualified Person who reviewed and approved the technical disclosure. Assay samples were prepared at the ActLabs certified facility in Medellín and analyzed for a full multi-element suite at ActLabs’ certified laboratory in Guadalajara, Mexico. Copper equivalent values are calculated using copper at $4.00 USD/lb and molybdenum at $20.00 USD/lb, with metallurgical recoveries of 90% for copper and 95% for molybdenum.

Headline image description: Plan view of the Mocoa porphyry Cu-Mo deposit and surrounding exploration targets. Black dots represent drill pads. The location of historical hole M14, where the western breccia was first recognized, is also shown. Photo provided by CNW Group/Copper Giant Resources Corp.

Figure 1 – Molybdenite liberation on sample (CNW Group/COPPER GIANT RESOURCES CORP.)

The test work, conducted and supervised by SGS del Perú S.A.C., an independent ISO/IEC 17025-accredited laboratory, represents the first phase of a comprehensive metallurgical program. This program aims to establish a conceptual processing flowsheet to support a future Preliminary Economic Assessment (PEA). The company cautions that these results are based on a single 130 kg composite sample and may not be representative of the entire deposit. Further variability and locked-cycle testing are required.

The metallurgical program involved a series of staged tests, including comminution, flotation, and mineralogical characterization, on a composite sample sourced from three drill holes.

Mineralogical characterization confirmed that copper is predominantly hosted in chalcopyrite, a common and easily processed copper sulfide mineral. Molybdenum is present exclusively as molybdenite. Analysis using X-ray Diffraction (XRD) and a TESCAN Integrated Mineral Analyzer (TIMA-X) showed that minerals containing deleterious elements like arsenic were not detected in significant quantities, suggesting the potential for producing clean concentrates.

Liberation studies indicated that both chalcopyrite and molybdenite are effectively liberated at a relatively coarse grind size with a P80 (80% passing) of 150–180 micrometers (µm). At this grind size, 97% of the molybdenite was observed as free grains.

The flotation testing process was optimized for grind size, pH levels, and reagent suites.

Grind Size: A grind size of P80 150 µm was identified as the preferred condition, balancing recovery and processing costs. At this size, copper recovery reached 88.1% and molybdenum recovery was 96.2%.

pH Level: Tests conducted across a pH range of 9 to 11 showed robust flotation performance. A pH of 11 was selected as the base case for subsequent tests, yielding a copper recovery of 88.9%.

Reagent Optimization: The highest recoveries were achieved during reagent optimization tests. The addition of PAX (Potassium Amyl Xanthate) as a secondary collector (Test 01) resulted in a copper recovery of 92.2% and a molybdenum recovery of 97.4%.

Figure 2 – Copper-bearing mineral on sample. (CNW Group/COPPER GIANT RESOURCES CORP.)

The Mocoa project is situated approximately 10 kilometers from the town of Mocoa in southern Colombia. Copper Giant holds granted titles and applications for over 790 square kilometers in the region, which is part of the Jurassic porphyry belt, a geological formation that extends into Ecuador.

The deposit was first discovered in 1973 through a regional survey by the United Nations and the Colombian government. Subsequent exploration was carried out between 1978 and 1983, with additional drilling conducted by B2Gold Corp. (NYSE: BTG, TSX: BTO) in 2008 and 2012. The deposit remains open for expansion in all directions.

The results from this initial program will inform the design of the next phase of metallurgical testing. Copper Giant has outlined that future work will focus on developing an integrated flowsheet, optimizing regrind and reagent schemes to maximize recovery, and testing for concentrate quality and marketability. These advanced studies will provide the technical basis for a PEA.

The funds will be used for working capital and general corporate purposes, according to Libero Copper, which noted that “certain insiders of the company participated in the Private Placement and acquired an aggregate of 1,240,000 units.”

Characterized as a non-brokered private placement, the Vancouver-based miner issued a total of 11,000,000 units at a price of $0.26 CAD per unit, which consist of one common share and a warrant (with an exercise price of $0.50 CAD until March 11, 2027).

“We are thrilled to welcome Mr. Frank Giustra as a strategic investor in Libero Copper,” aid Ian Harris, president & CEO of Libero Copper, in the announcement.

“Mr. Giustra’s esteemed reputation and successful track record as a mining entrepreneur precede him. His profound understanding of industry dynamics and the imperative of meeting the growing demand for copper in the transition to a clean energy future attest to the immense potential of our company. His support will be invaluable in unlocking the full potential of the Mocoa copper-molybdenum porphyry deposit.”

In Colombia, the company is currently exploring the Mocoa copper-molybdenum porphyry deposit in the department of Putumayo, Colombia.

“Mocoa is being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in Colombia,” according to Libero Copper.

(Photo credit: Libero Copper & Gold)

Overall, the company, which maintains a copper mining operation in Mocoa, currently has nearly 175 million common shares (both issued and outstanding) and the consolidation would cut this number by a factor of 10 down to roughly 17.5 million common shares. In its statement, Libero stated that the consolidation will be “on the basis of one new post-consolidation common share for every 10 pre-consolidation common shares,” per Libero.

The Vancouver-based company also outlined these details:

“Any fractional interest in Common Shares resulting from the Consolidation will be rounded down to the nearest whole Common Share. Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, with information on how to replace their old share certificates / DRS statements with the new share certificates / DRS statements. Brokerage firms will handle the replacement of share certificates and DRS statements on behalf of their shareholder’s accounts. The exercise price and number of Common Shares issuable upon the exercise of Libero Copper’s outstanding stock options and warrants will be proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities.”

Libero’s board of directors has approved the consolidation plans, which remain “subject to customary closing conditions, including the prior approval of the TSX Venture Exchange.”

(Photo credit: Libero Copper & Gold)

The rain and weather have led to the collapse of at least 14 houses, said the office of the president, but no deaths, significant injuries, or missing people have been reported.

The National Unit for Disaster Risk Management (UNGRD) stated this morning that more than 20,000 people have been evacuated, while some local media reports published throughout the day have put he figure at more than 30,000.

In addition to the houses that have been destroyed, a bridge has collapsed and the sewage system has been damaged in multiple neighborhoods.

Areas in the departments of Vichada and Guainía have also been hit with severe flooding. Nearly 10,000 people and 200 homes have been affected in Vichada in addition to other infrastructure damage, according to the UNGRD.

The agency has already spent more than $500,000 USD in response efforts, which have included setting up hundreds of tent shelters and handing out thousands of kits including food, personal essentials, and blankets.

To address the crisis in Putumayo, President Iván Duque coordinated the response with the mayor of Mocoa this morning and sent a team of emergency officials who have arranged for tanker trucks to help provide potable water to the affected population.

Duque said that he will travel to Mocoa and other affected areas on Tuesday.

“Fortunately, there are no deaths,” said Duque in a statement, adding that this is “a situation that we must address with all of our determination.”

While the river level in the area around Mocoa has reportedly gone down, officials have warned that more rainfall has been forecasted. Local residents are advised to heed further warnings and follow the instructions of officials.

More than half of the total, or about $2.3 million USD, will fund the construction of a new administrative center for Mocoa. Rivera said the plan will give the capital a modern building that will help citizens spend less time waiting for officials to complete various procedures and document processing.

Rivera added that this site will also be used to further coordinate and administer the ongoing reconstruction efforts in Mocoa to rebuild from the disaster.

Another $1 million USD will go toward video surveillance as part of Colombia’s wider “Live Safe, Live in Peace” program. The monitoring is an attempt to improve public safety and alleviate the fears that some residents have in the capital, said Rivera in a statement.

Additionally, around $300,000 USD will be used to create a “Citizen Integration Center” (CIC) in neighborhood of José Homero that will be the staging ground for the implementation of various peace process protocols and reintegration efforts.

The disaster recovery and rebuilding plans in Mocoa are close to home for Rivera, a Putumayo native who was appointed to the head of the ministry last month following the resignation of Juan Fernando Cristo. The investments announced today, said Rivera, will help the community act “with integrity and opportunity in the reconstruction of Mocoa.”

Photo: Minister of the Interior Guillermo Rivera Flórez announces new investments for Mocoa. (Credit: MinInterior)

The town of Bagadó was hard hit, with some 60% of the town suffering damage and floodwaters reportedly reaching more than meter high in some sections of town. Other Chocó municipalities Cértegui, Lloró, and Nuquí also experienced significant flooding.

The National Unit for the Management of Disaster Risk (UNGRD) took action to coordinate the federal response. Personnel and machinery was deployed by the agency, particularly to help manage the overflow of the Atrato River. Many of those whose homes suffered damages are being given rent subsidies that will help provide alternative lodging for up to three months, according to the UNGRD.

Along with oversight from UNGRD head Carlos Iván Márquez Pérez, authorities in Chocó also established a local disaster risk management office, where all emergencies in the department will now be handled first hand.

The tragedy in Chocó marks another fatal disaster during the ongoing period of torrential rains that have been falling in Colombia this month. In the deadliest catastrophe to hit Colombia in decades, more than 300 were killed in the Putumayo capital of Mocoa in early April from mudslides after multiple rivers broker their banks. A rain-induced landslide also killed at least 16 people in Manizales this week.

The Atrato River and is tributaries both remained on alert for potential flooding late on Friday. Multiple other areas of the country near waterways have also received warnings in recent weeks.

Photo credit: UNGRD

At least seven others also remained missing late on Wednesday following a landslide that affected more than 500 families and 80 homes across 16 primarily lower-class neighborhoods, according to Colombia’s National Unit for Disaster Risk Management (UNGRD). Rescue workers were continuing the search late into the evening in hope of finding more survivors, said officials.

The head of UNGRD, Carlos Iván Márquez Pérez, was among those who traveled to the capital of the Caldas department along with Colombian President Juan Manuel Santos today to show their support for the victims and help coordinate the catastrophe response. Emergency aid was quickly dispersed to the affected families, and rent subsidies were offered to anyone who lost their homes, according to UNGRD.

Mattresses and cleaning kits were also distributed to those in need, and the national government said it has transferred funds to the mayor’s office of Manizales so that priority assistance could be given to victims immediately. The Colombian Red Cross, with more than 60 personnel on the scene, was also among the various agencies that helped to ensure the aid reached the people seeking help.

“I want to tell the people of Manizales that we are here with them,” said Santos. “We will always be here … Our hearts are with the families of the victims.”

The mayor of Manizales, per a BBC report, said that a month’s worth of rain fell overnight, causing the earth to collapse and destroy dozens of homes in quick succession in the Andean city whose metro area is home to more than half a million people.

Heavy rains have continued to bear down on many areas throughout the country for weeks, leading to red alerts being issued by public officials to warn those who may be in harm’s way. The risk of mudslides and flooding remains high in various locations given the high volume of water traveling throughout the country’s rivers.

After multiple rivers breached their banks in the Amazonian department of Putumayo on April 1, the resulting “avalanche” of water killed more than 300 people in Mocoa. It was the deadliest natural disaster to hit Colombia in decades.

Photo credit: Presidencia de la República

The aircraft, a Boeing 727-200 operated by Líneas Aéreas Suramericanas (LAS), was accelerating as normal on the ground when the pilot decided not to complete takeoff and then overshot the end of the runway by nearly 600 feet due to its speed.

There were no injuries to any of the four crew on board and no significant damage reported to the plane, which was scheduled to fly to Pasto, the capital of Nariño. But El Dorado International Airport’s 13R runway remained closed for roughly two hours following the incident and led to delays for other aircraft.

At least one Avianca flight bound for Bogotá from Medellín’s José María Córdova International Airport, which was also dealing with thunderstorms and heavy rain, was canceled and at least three others were delayed for several hours.

The runway in Bogotá reopened around 3 pm, although only 3,100 meters of the 3,500-meter runway were available, according to Aerocivil, the aviation regulator in Colombia. The agency said that it was conducting an investigation to determine why the incident occurred.

The planned flight to Pasto was carrying food intended to help those impacted by the disaster in the Putumayo capital of Mocoa, where more than 300 people were killed by flash flooding and mudslides in early April. The flight had been coordinated by Líneas Aéreas Suramericanas and the Red Cross.

Authorities said that storms last night may have dumped some five inches of rain that caused multiple rivers — the Mocoa, Mulato, and Sanguyaco — to swell, with some breaking their banks to trigger mudslides and an “avalanche” of water that demolished full neighborhoods and affected many other sections of the municipality of Mocoa.

The death toll has been rising throughout the day, with some officials fearing it may still grow further as the search for survivors continues. Some 200 people remained missing early in the evening of April 1, according to the Colombian military. At least 400 others have been injured.

The primary local hospital, according to a BBC report, is struggling to manage the situation. At least 21 survivors in critical condition were airlifted to Neiva, the capital of the department Huila located about 320 kilometers to the northeast by ground. Parts of Putumayo have lost electricity, and Mocoa was left without water service, according to the office of the president.

“There were 17 affected neighborhoods,” Mocoa Mayor José Castro told Colombian magazine La Semana. “Some disappeared completely, like San Miguel, part of Laureles, San Fernando, and Progreso, where I live. The house was completely devastated.”

Military forces in Colombia help one resident of Mocoa evacuate as floodwaters inundate this community in Putumayo. (Credit: Fuerzas Militares de Colombia)

Colombian President Juan Manuel Santos has issued a state of emergency and said that about 10 days worth of rain fell last night to “produce the avalanche” of water that overran the riverbanks. The president arrived in Mocoa today to “guarantee attention to the victims of this tragedy,” he said.

Santos also said this morning that Colombia’s National Unit for the Management of Disaster Risk (UNGRD) is overseeing disaster response in Mocoa. As part of the country’s official National Risk Management System response, the Colombian military is on the ground and members of the armed forces have been seen carrying vulnerable citizens away from danger while working to preserve life and aid the injured. The emergency unit of the National Police and a specialized aerial unit of the army have also been sent to the scene of the tragedy.

The Colombian Red Cross this morning mobilized a force of at least 22 people to join public officials on the ground in Mocoa. The United Nations has offered “to provide all the support that the Colombian authorities deem necessary.” Colombia’s UNGRD, which is led by Carlos Iván Márquez, immediately began gathering supplies to send humanitarian aid to those affected by the catastrophe, and the National Police made at least 14 flights into the area with supplies.

By early afternoon, according to the UNGRD, more than 900 personnel from various agencies were working on search and rescue, caring for the wounded, verifying the location of survivors, delivering emergency aid, and other necessary tasks. That number rose to more than 1,100 later in the day, and the president said that at least four helicopters and five planes have also been present to assist officials. Some 50 tanker trucks were brought in by early afternoon as well to help in the ongoing effort to provide potable water to the community.

“My heart — our heart, the heart of all Colombians — is with the victims of this tragedy,” said Santos while addressing the media in Mocoa. He added that, “We continue with the search and rescue of people — we are with the victims, with the families affected.”

Humanitarian aid is being coordinated for the victims of the tragedy in Mocoa. (Credit: UNGRD)

The president also told the press that the government is working on plans to manage the ongoing fallout of a catastrophe that will require a long recovery.

“We are going to make a plan of action with Dr. Carlos Iván Márquez, with the government, and all the institutions that are here,” added the president. “We are going to start the whole process of humanitarian aid, we are of course going to take care of the wounded, we will start the funeral process for the deceased, and we will also begin to re-establish the services that were disrupted.”

In the afternoon, UNGRD began accepting monetary donations from those who want to help the victims. Those wishing to contribute can send funds directly to the agency’s Banco Davivienda savings account (cuenta de ahorros) #021666888.

#TodosConMocoa Con tus aportes entregaremos Asistencia Humanitaria de Emergencia a los damnificados de Mocoa. pic.twitter.com/tZglCQ7T4H

— UNGRD🇨🇴 (@UNGRD) April 1, 2017

Many of Colombia’s other top public officials have also traveled to Mocoa to assist with the tragedy, including: Luis Carlos Villegas, minister of defense; Alejandro Gaviria Uribe, minister of health and social protection; Luis Gilberto Murillo, minister of environment and sustainable development; General Juan Pablo Rodríguez, top commander of the military; and Jorge Hernando Nieto, director of the National Police.

This article has been updated throughout the day as more information has surfaced.

Photo Credit: Presidencia de la República