Corcel Exploration Inc. (CSE: CRCL) has announced plans for a Phase 2 reverse circulation drill program at its Yuma King Critical Minerals Project in west-central Arizona. The program will target over 3,500 metres of drilling across three high-priority exploration zones not previously drill-tested. The announcement builds on Phase 1 results and signals an expansion of the company's critical minerals exploration strategy in a jurisdiction of growing US interest.

Key Points

  • Corcel Exploration Inc. (CSE: CRCL, OTCQB: CRLEF, FSE: Y67)
  • Phase 2 reverse circulation drill program planned for over 3,500 metres at the Yuma King Project in Arizona
  • Three untested targets identified: YK North, YK West, and Three Musketeers, prospective for copper-silver-gold and tungsten mineralisation
  • Investors may be watching for drill results and any additional geophysical survey findings at the Yuma King Project

Phase 2 Drilling Expands Beyond Historic Yuma King Mine Area

The planned Phase 2 program follows a Phase 1 campaign that focused on the historic Yuma King mine, which reported an intersection of 56.65 metres of 1.07% copper, 0.79 g/t gold, and 7.1 g/t silver in drill hole YK26-001, as previously disclosed on June 1, 2026. Phase 2 drilling will shift focus to three exploration targets situated beyond the mine area, each considered prospective for skarn-related copper-silver-gold and tungsten mineralisation. The company also plans additional geophysical surveys around the historic mine to help identify a potential underlying porphyry source.

YK North, YK West, and Three Musketeers Targets Defined

The YK North target, located 1.0 km northwest of the Yuma King mine, features a broad approximately 500-metre high-conductivity zone associated with gold-copper soil anomalies. The YK West target, 1.2 km southwest, presents outcropping magnetite-rich skarn with elevated copper values and a high-chargeability anomaly. The Three Musketeers target, 1.8 km west, has returned rock-chip samples of up to 17.15 g/t gold and 11.6% copper, along with tungsten showings with rock samples up to 19.15% WO₃. Drilling at Three Musketeers will cover an area of 350 by 150 metres.

Market One Media Engagement and C$95,000 Services Agreement

Alongside the drilling announcement, Corcel disclosed a 12-month media services agreement with Market One Media Group, which commenced October 21, 2026. The company will pay C$95,000 plus applicable GST for editorial, video, and digital media services delivered through channels including BNN Bloomberg. The release states that compensation is not tied to share price or trading volume and that Market One will not receive securities or options. Market One is described as arm's length to the company.

Technical Oversight and Qualified Person Sign-Off

The scientific and technical disclosure in the announcement has been reviewed and approved by Roy Greig, Ph.D., P.Geo., a Qualified Person as defined under National Instrument 43-101. The Yuma King Project encompasses a district-scale land position of 3,200 hectares comprising 515 unpatented federal mining claims in the Ellsworth Mining District, including the past-producing Yuma King Mine, which saw underground production of copper, lead, gold, and silver between 1940 and 1963.