Red Metal Resources Limited has completed its first copper sulphide ore deliveries from the Farellon Project in Chile, hauling approximately 591.66 tonnes across 16 truckloads to the Empresa Nacional de Minería processing plant in Vallenar on August 20th and 21st, 2026.

The initial shipments were executed approximately three months after Red Metal signed a five-year renewable mining lease with Minera KMT SpA on May 14th, 2026. This initial production arrived roughly four months ahead of the seven-month development period outlined in the original agreement.

Through its wholly-owned subsidiary Minera Polymet SpA, Red Metal holds the Farellon 1/8 mineral concession within the Carrizal Copper-Gold-Cobalt Property. Under the lease terms, Minera KMT SpA acts as the operator responsible for all mining, permitting, and regulatory compliance. Red Metal receives a 10% net sales royalty on minerals sold to Empresa Nacional de Minería from the concession, less a pre-existing 1.5% vendor royalty, resulting in a net effective royalty of 8.5%.

As part of ongoing operational oversight, Red Metal collected ten rock samples during bi-weekly site visits to Level 7 of the north tunnel at Farellon 1/8. The company is currently awaiting assay results from an independent laboratory to confirm copper, gold, and silver grades.

“With copper trading near record highs, these first ore deliveries to ENAMI are a meaningful milestone for Red Metal. This small-scale mining activity provides the Company with non-dilutive revenue to help support our general and administrative costs, while we continue to develop and prioritize drill targets at Carrizal for drilling later this year.” — Caitlin Jeffs, President and CEO

Minera KMT SpA will continue development and ore extraction on Level 7 to build toward a minimum production level of 2,500 tonnes per month. Meanwhile, Red Metal is integrating data from a recently completed induced polarization geophysical survey to refine priority targets ahead of a planned drilling campaign at Carrizal later in 2026.

Read the full announcement: Red Metal Resources Reports First Ore Delivery from Farellon Ahead of Schedule, Launching Non-Dilutive Royalty Revenue