Cerro Negro Results Up To 4.64% Cu and 177ppm Ag

Confirms extension of copper-silver mineralisation to south and east of Mostaza Cu-Ag mine and strengthens potential for large-scale porphyry type copper mineralisation

Great Southern Copper plc (LSE: GSCU), the company focused on copper-gold and lithium exploration in Chile, is pleased to announce rock chip sample results for its initial exploration mapping and sampling programme at its Cerro Negro prospect, Especularita.

Highlights:

• Exploration rock grab and channel samples range up to 4.64% Cu and 177ppm Ag
• Results extend high-grade Mostaza mineralised system 1.5km to the south and open
• Additional high-grade vein breccia mineralisation confirmed up to 400m to the east
• Cu-Ag mineralisation associated with anomalous Ba-Pb+Sb (barium-lead+antimony) with trace elements Te-Rb-Sr (tellurium-rubidium-strontium)
• Anomalous Ba present in oxidised and Cu-depleted (leached) lithocap rocks is indicative of potential for a larger disseminated style copper system at depth
• Prospect located near to national infrastructure including roads, power, towns and ports
• Mapping and sampling to continue further south to extend known mineralisation and define new targets for exploration drilling

Prospect-scale mapping and sampling has commenced at Cerro Negro prospect with the aim of determining the potential for the Mostaza style high-grade, structurally-controlled Cu-Ag mineralisation to extend along strike to the south and to investigate potential for, and vector towards, porphyry Cu style mineralisation. To date 162 rock grab and channel samples have been collected.

Preparation for drilling at Cerro Negro is advanced, with a land access proposal having been presented to community landowners and which is expected to be finalised in the coming weeks, thereby completing all necessary regulatory requirements.

Sam Garrett, Chief Executive Officer of Great Southern Copper, said: "These results confirm that high-grade, structurally-controlled copper-silver mineralisation extends up to 1.5km further south along trend of the Mostaza copper-silver mine and up to 400m further to the east.

"The high-grade Mostaza Cu-Ag mineralisation is closely associated with anomalous barium and lead with trace levels of tellurium and antimony. Therefore, the occurrence of highly anomalous barium associated with lithocap type rocks that are depleted, or leached, of primary copper, is a strong indicator for the potential of a larger disseminated type porphyry copper type system at depth beneath the lithocap.

"The presence of these indicators reinforces confidence in our targets for the Mostaza deposit. Our ongoing mapping and sampling programmes will build on this early work with the goal of vectoring toward the potential for large-scale porphyry type copper mineralisation."

Rock chip sampling and results:

All rock samples collected are located using hand-held GPS units (WGS84 zone 19S datum, UTM coordinate system) and allocated a unique sample number using a ticket-book system.

Assay results for 162 rock grab and channel samples have been received. Copper assay grades range up to 4.64% Cu with 20% of samples >0.1%Cu and 30% of anomalous samples >1.0% Cu. Silver ranges up to 177g/t Ag with 20% of samples assaying >25.0g/t Ag. Samples taken of oxidised lithocap rocks are notably depleted in both copper and silver with copper grades typically below 50-100ppm Cu (Figure 1, 2).

Samples with anomalous copper are typically strongly anomalous in Ba-Pb-Te-Sb and lesser trace elements Rb-Sr. Significantly, Ba is also anomalous in samples that appear to be depleted in copper and silver, notably those samples of oxidised lithocap rock. Barite (barium sulphate BaSO4), a dense mineral and strongly resistant to weathering in the oxide environment, occurs as veins and fracture-fillings in the Cerro Negro lithocap and is closely associated with high-grade copper in strike-extensive vein-breccia type mineralisation (Figure 2). Therefore, the presence of anomalous Ba in samples with low Cu-Ag results may indicate that primary copper has been leached from the oxidised lithocap rock. This may further indicate the potential for a zone of concentrated copper at depth (supergene mineralisation) and/or the added potential for larger disseminated-type sulphide copper mineralisation at depth. Further detailed mapping and sampling is in progress to investigate the copper-depleted nature of the lithocap alteration and the potential for large-scale disseminated type copper mineralisation at depth.

About the Cerro Negro prospect:

GSC's Cerro Negro prospect, including the high-grade Mostaza Cu-Ag mine, is located within the Company's Especularita project and close to national infrastructure including main highways, powerlines, and towns. The project is located 170km from the port city of Coquimbo, and 130km from Antofagasta Minerals' copper concentrate port at Los Villos. The area lies at an elevation between 800 and 1200m and is accessible year-round for all exploration and mining activity (Figure 3).

Figure 1: Rock sample geochemistry maps for Ag, Ba and Cu for samples from Cerro Negro prospect, Chile (UTM 19SWGS84).

Figure 2: Barite vein (l) with oxide copper hosted in lithocap rock, Cerro Negro. Typical silicified, leached lithocap rock with oxidised fracture networks and boxworks with rare oxide copper (r).

Figure 3: Location of Cerro Negro prospect, Especularita Project, Chile.

Forward Looking and Cautionary Statements