Our client Coyote Copper Mines Inc. (TSXV: CCMM) has entered into an option agreement to acquire 223.85 acres of patented mining claims known as the Gibson Mine from the Franciscan Friars of California. The Friars obtained the Property through a donation that was made in 1969.
The key highlights of the Gibson Mine include:
Copper Production: 17.2 million lbs of copper recovered from 55,750 short tons of ore 1903-1969.
June 1907: approximately 80 tons/day shipped to Old Dominion at over 25% Cu.
Pasquale Vein: Level 4 Five stopes supplied ore shipments assaying 16 to 18% Cu in 1912.
Mine Development: Six levels and about 26,000 ft (7.9 km) of workings.
Operating History: A 150 ton/day concentrator opened in 1919. Intermittent leach recovery continued into the early 1990s.
The Corporation's current 1,100 BLM mining claims, comprising approximately 22,086 acres (~89.4 km2), surround the 223.85 acres that make up the Gibson Mine.
Dan Weir, CEO, commented, "High grade copper veins and deposits are an integral part of the Globe Miami copper area. The presence of the high-grade Gibson copper veins in the vicinity of the large "Donut Target" makes the Gibson acquisition very compelling, just like the high-grade Magma Mine which sits above the Resolution Mine. In addition, patented mining claims give Coyote Copper title to the surface and mineral rights outright. The Corporation would benefit from significantly streamlined permitting for exploration drilling on its own titled land and would have the right to construct permanent surface infrastructure — including core storage facilities and field offices."
Historical records indicate that production at the Gibson Mine during its main period of operation (1906–1918) totaled approximately 12 million pounds of copper and 3,500 oz. of silver (Elsing and Heineman, 1936, p. 92). Between 1918 and 1950, small-scale production was also recorded - approximately 260,000 pounds of copper were recovered from ore sorted from the mine dumps (U.S. Bureau of Mines, 1937–1953). The site was mined intermittently from the 1960s through the 1990s by solution mining of the historic workings. No production data for this period has been identified. The foregoing historical production figures are not NI 43-101 compliant mineral resource or reserve estimates, have not been verified by a Qualified Person, and should not be relied upon as an indication of the current or future mineral resource potential of the property.
The following description was taken from the Gibson Structural Corridor (GSC) - Page 89 of the Corporations NI 43-101 Technical report dated November 23, 2025 (refer to the Corporation Website) at www.coyotecopper.com:
"High-grade copper ores (20 to 40% copper) were localized along the sub-parallel Summit and Pasquale veins, which cut the Pinal Schist. Located approximately 300 feet apart, both veins strike N25º E and can be traced over a distance of approximately 6,500 feet. Dipping approximately 55º to the northwest, the Summit vein is concordant with bedding and foliation of the schist. It was characterized by lens-like ore shoots, ranging from 0.7 to 1.25 feet in thickness. The Pasquale vein occupies a 35º northwest-dipping, 5 to 10-foot thick fault zone that clearly cuts across bedding and ranged from a few inches to 3 feet in thickness (Peterson, 1963)."
Figure 1. The Gibson Mine location map, located within the western segment of Copper Springs Project, Coyote Copper Mines Inc.
Figure 2. The Gibson Mine outlining the surface and underground infrastructure of the Summit and Pasquale Copper Veins.
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In August 2025, the Corporation collected ten samples across the Gibson Structural Corridor (GSC), comprising of six bedrock samples from areas of observed copper oxide mineralization and structural zones and four selective grab samples from historic ore piles in the West Gibson area. The grab samples from historic ore piles were collected to characterize the nature of historic mineralization and are not representative of the overall mineralization on the property.
Across all ten samples, copper values ranged from 0.091% to 22.41%. Silver values ranged from below detection to 69.3 g/t. Grab samples are selective by nature and may not be representative of the mineralization hosted on the property.
The four selective grab samples from the West Gibson zone returned copper grades ranging from approximately 10% to 22% Cu. These were select grab samples, collected from historic ore piles to characterize the mineralization. Quartz-chalcopyrite veining, massive chalcopyrite and associated hematite are observed in relation to a set of thin mineralized porphyritic dike sets which is parallel to the primary Gibson mine structure. Silver values in these samples ranged from 10.6 to 69.3 g/t.
Figure 3. Selected surface grab sample 1939405 from the Gibson Mine, 1.6m, with geochemical sample results in chart.
History of the Mine
All information in this section is derived from historical sources and prior third-party reports. It does not constitute a current NI 43-101 mineral resource or reserve estimate and has not been independently verified by the Corporation's Qualified Person.
The Gibson copper mine is in the headwaters of Pinto Creek and is approximately 7.5 miles southwest of Miami, Arizona.
Chalcocite enrichment played an important role in developing the high-grade copper ores localized along the Summit and Pasquale veins (Peterson, 1963). Underlying primary sulfide mineralization along these structural zones is characterized by massive chalcopyrite with considerable bornite in a quartz gangue lesser amounts of calcite and minor amounts of specular hematite and gypsum (Stevens, 1911).
The Gibson Mine was a copper-silver producer operating primarily from 1906 to 1918 with intermittent production continuing through 1975. The mine was hosted on 16 patented and 53 unpatented claims and was operated by several successive owners including the Gibson Consolidated Copper Co. as the primary producer.
Mineralization comprised multiple veins hosted in the Pinal Schist with the Summit and Pasquale veins being the most prominent. Total historical production is estimated at approximately 12,500,000 pounds of copper and 3,500 oz. of silver (Sources: Arizona Bureau of Mines; U.S. Bureau of Mines, 1937–53.).
A Historical Resource for the Gibson mine is referenced in USGS MRDS Record #10104088, taken from K.R. Long, 1995 compilation of Porphyry Copper Deposits.
Coyote Copper's initial target of 35-45 million tons grading 0.3% - 0.5% is based on the historical resource.
The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource
Terms of the Option Agreement
Subject to the right of the Corporation to terminate the option Agreement at any time. The Corporation is required to make the following payments to the Friars for an aggregate price of US$1.4 million after the effective date of the Option Agreement.
The Payments are as follows:
$500,000 within 14 days of the Effective Date;
$200,000 on or before the first anniversary after the Effective Date;
$200,000 on or before the second anniversary after the Effective Date;
$200,000 on or before the third anniversary after the Effective Date;
$300,000 on or before the fourth anniversary after the Effective Date.
For a total aggregate price of US$1.4 million.
The Corporation shall have the right to exercise the Option at any time after the Effective Date by giving the Friars at least ten days prior written notice of such early exercise of the Option and by paying to the Friars all Payments not yet paid.
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Disclosures
Coyote Copper Mines is a corporate client of Optimo Research Ltd.
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