Red Metal Initiates IP Survey on its Carrizal Copper-Gold-Cobalt Project

Vancouver, British Columbia--(Newsfile Corp. - April 2, 2026) - RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce it has engaged Geophysical Studies Chile out of La Serena, Chile to complete an Induced Polarization (IP) survey over the Company's 100%-owned Carrizal Copper-Gold-Cobalt Project, located in Chile's Atacama Region.

• Target: Carrizal hosts a structurally controlled, vein-style, Iron Oxide Copper-Gold system. Veins have been identified and sampled over more than 12 km in strike length on surface. Drilling has tested 1.5 km of that veining to a depth of approximately 200 m. IP will target chargeability associated with sulphides at depths up to 500 m deep.

Total work planned: two IP grids are planned to target two separate areas of veining. A northern target will consist of 10 lines, each 2.5 km in length for a total of 25 kms. A southwestern target will consist of 6 lines, each 2 km in length for a total of 12 km. The full survey will total 37 line kms.

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Figure 1 & 2: Carrizal Vein Targets for IP with historic Cu & Au surface samples

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Figure 3: Outcrops from surface sampling program completed in 2025 showing historic excavations and copper oxides. CARZ-25-043 3.83% Cu, 0.5 g/t Au, CARZ-25-012 2.91% Cu, 1.9 g/t Au

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Property highlights:

• Extensive Strike Continuity: Individual mineralized vein systems and mine workings have been mapped with strike lengths of up to 4.5 kilometres and over 12 kilometres of veining mapped and sampled.

• Surface sample confirmed potential economic grades: Historic surface sampling between 1996 and 2025 totaled 317 surface reconnaissance samples. Of the 317 samples collected, 178 returned copper grades over 1% copper, and 128 exceeded 2% copper and high grade copper values included 17.25%, 8.0% and 7.23%. For gold, 81 of the 317 samples returned grades above 0.5 g/t with 19 samples exceeding 2.0 g/t Au The highest grade samples were 8.4 g/t, 7.0 g/t and 5.4 g/t Au.