Historical archives and compilation validate and confirm the mineralization at the Blue Lake Cu (Ni-PGE) project

TORONTO, Nov. 4, 2026 /CNW/ — Cupani Metals Corporation (“Cupani” or the “Company”) (CSE: CUPA) (OTCQB: CUPIF) announces the acquisition of a large historical exploration archive in Q2 2026. Verification, compilation, and tabulation of the data created a database encompassing about 98% of all 587 holes drilled on the Blue Lake Project. With such a high-quality database now in hand, Cupani plans an independent 43-101 mineral resource estimate for delivery in 2027. 

Highlights

• 57,000 meters in 575 historic DDH from La Fosse and Hollinger have been drilled on and around the Blue Lake mineralized zones.
• Archive acquired: 42 boxes and dozens of map rolls, detailing exploration work from the 1950’s, 1960’s and particularly from the 1980’s.
• Critical information from the infill and definition drilling at the Blue Lake mineralized zones was present in the archive; this data had never been submitted for assessment and was not available prior to Cupani acquiring the archive. Cupani now holds data in paper logs, assay certificates, maps, sections and plan schematics for the historic infill, adit and exploration drilling at Blue Lake.
• Independent validation of historical data: Sixteen twin holes drilled in 2012 by Rockland (executed by IOS Geosciences) intersected the historic mineralization in all lenses. These holes validated the original assays and lithologies.
• Next step: 43-101 mineral resources estimate by an independent Qualified Person during 2027 combined with additional drilling in order to further test the model.
• CEO comment: “Investors should review the Table 1 list of prior mineralized intersections obtained from historic drilling at Blue Lake. An independent 43-101 resource calculation gives Cupani credibility with communities, governments, investors and partners.“ said Brian Bosse, CEO of Cupani.

The archive

The archive contains exploration work by Hollinger and La Fosse across the Labrador Trough, held in 42 boxes. In the immediate surrounding of the mineralised zones at Blue Lake, it includes the physical records of 429 infill and exploration drill holes completed by La Fosse between 1987 and 1989 plus 119 drilled by Hollinger in 1955,1956,1967 and 1968. The recently acquired archive provides Cupani with a solid database covering about 98% of all historical drilling and exploration work.

Rockland (IOS Geosciences) drilled several holes in 2011, 2012 and 2015. The 16 holes drilled in 2012 were intended to validate the existing mineralised lenses. These were twins of historic holes that had returned significant mineralisation. The assays and lithologies of the twinned holes matched the reported data of the original holes, an important validation of the historical record.

The 2012 drill core remains stored in Chicoutimi, Quebec. It is available to Cupani and to an independent NI 43-101 author for examination in preparation for filing a technical report. Drill core from 2011 and 2015 is stored at the project site as well as all the core from drill holes by Hollinger and La Fosse. The core boxes are crosspiled and most of the core is still viable.

The archive also holds La Fosse compilations and reports on other mineralised zones within the Labrador Trough. These reports were never submitted to the Quebec Ministry of Mines and Resources and remain proprietary to Cupani. LINKED HERE is recent public reporting on the Blue Lake project. Cupani is reporting an 80% recovery assumption to be conservative until independent metallurgy work is available. Recovery was not considered in past reporting of mineralization.

Historical intercepts

The inset diagram shows a compilation of the number of holes drilled in the vicinity of the Blue Lake mineralised zones (Figure 1), with total meterage and average length of hole by period/company. Tables 1 and 2 show the best assay intercepts and the best massive sulphides interval.

Table 1. Best historical intercepts by zone

Table 2: Best massive sulphides intervals by zone

Mineral resource estimate

Cupani intends to commission an initial 43-101 compliant mineral resource estimate for Blue Lake from an independent Qualified Person, with delivery anticipated in 2027. The Company views the estimate as important external validation of the project’s potential.

Analytical procedures and QAQC

The analytical methods used by Hollinger are unknown, they are not presented in their reports and logs. The historical samples from La Fosse were sent to Lakefield Research and Assayers (Ontario limited) but analytical methodology was not found in any report or certificate

The Hollinger holes were not assayed for Palladium and Platinum. In certain holes drilled by LaFosse, Nickel and Copper were not assayed, only Platinum and Palladium were assayed. In several holes magmatic massive sulphides were not analysed. The net effect of those decisions by prior operators may be to slightly underreport mineralisation until future assays are conducted.

Rockland sent their samples to ALS mineral laboratories in Val D’Or, Quebec in 2011, and in 2012 they were sent to Actabs. Precious metals, including Gold, Platinum and Palladium were assayed by the mean of fire-assay on two assay-tons (50 gr) with lead collection and ICP-MS finishing. Base metals, including Nickel and Copper, plus 49 other elements were analyzed by ICPMS and ICP-AES after partial Aqua Regia digestion.

Qualified Person

Jacquelin Gauthier P. Geo, Cupani’s VP of exploration verified and approved all technical and scientific information of the final edition of this press release. He is acting as the Company’s qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About CUPANI

CUPANI Metals Corp. provides shareholders with long-term capital growth exposure by investing in mineral exploration properties. The Company is listed on the CSE under the symbol “CUPA” and on OTCQB under the symbol “CUPIF”. 

Cupani’s 100% owned Blue Lake copper nickel PGE project in Quebec covers 682 square kilometers of exploration claims (260 square miles). During the 1980s certain sections of Blue Lake project were explored by La Fosse Platinum. They drilled hundreds of exploration holes, excavated a 350 metre (1000 foot) Adit, conducted geochemical, geophysical and geologic surveys and metallurgy testing. The surface projection of discovered mineralization as well as historical drill locations are shown and comprise an area less than 10 square kilometers.

Forward-Looking Information

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations of the Canadian Securities Administrators. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may also be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking statements in this news release include without limitation, statements with respect to the exploration opportunity related to the Blue Lake property, among others. All forward-looking information contained in this press release is given as of the date hereof and is based on the opinions and estimates of management and information available to management as of the date hereof.

These statements are based upon assumptions that are subject to significant risks and uncertainties, including variations in geology, drilling results, permitting and regulatory approvals, and other factors affecting the development and exploitation of a mineral property. Because of these risks and uncertainties and because of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events, or otherwise, except as may be required by applicable securities laws. Mineralization occurring at deposits mentioned in this press release is not necessarily indicative of mineralization that may be intersected in the future.

SOURCE Cupani Metals Corp.