Koryx Copper Announces Further Significant Drill Results at the Haib Copper Project, Southern Namibia

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HM121 and HM111 were drilled north of, and on the same section as, previously reported holes HM090 and HM006 in the southeastern part of Target 3. HM090 and HM006 returned the widest near-surface high-grade Cu intersections (>1% Cu) encountered at Haib, and the new holes were designed to test the northern extension of this mineralisation.

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Structural complexity is evident in this area, characterised by an east–west striking, broad, sub-vertical zone of intense alteration mapped between HM090 and HM121 and associated with depletion of Cu. This is reflected in the upper 88m of HM121, which averages only 0.06% Cu, with molybdenum absent. Beyond this depth and outside the alteration zone, Cu grades increase rapidly, culminating in a 284m interval of mineralisation averaging just under 0.4% Cu.

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HM111, located 80 m north of HM121, returned comparable results. The upper 120 m of the hole averages 0.07% Cu, followed by a higher-grade interval of 64 m averaging 0.38% Cu. The hole was terminated while still in mineralisation and should be extended to fully define the depth extent of this zone. Spatial comparison of the high-grade intersections in HM006/HM090 and HM121/HM111 suggests that the zone of intense alteration is associated with a normal fault exhibiting up to approximately 150 m of vertical displacement.

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HM112 was collared on the boundary between the Target 3 and Target 4 mineralised domains and drilled northwards to intersect the main Target 3 mineralisation at depth. Results indicate a broad zone from surface grading >0.3% Cu; however, Cu grades decrease to below 0.2% for the subsequent ~130m before defining a 17 m interval averaging 0.35% Cu. This includes higher-grade sub-intervals such as 16m at 0.54% Cu and 40m at 0.45% Cu.

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Molybdenum is present at significant levels throughout this 172 m interval and extends into the footwall, averaging 196ppm Mo over 292m, with multiple samples exceeding 1,000ppm and a peak value of 5,200 ppm. Tungsten is also present, with a 32m interval averaging 450ppm W, including 4m at 1,640 ppm. Gold values are elevated locally, with a 2m sample returning 0.42 g/t Au.

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Target 4 Results

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HM109 was drilled well south of Target 4, progressing northwards to intersect previously identified Cu zones at depth. A shallow Cu zone exceeding 0.3% was confirmed, consistent with earlier drilling results. Deeper extensions of Cu mineralization are present but occur as thinner intervals with lower grades. Molybdenum (Mo) is notably elevated, averaging 279ppm from surface over 76m, including a high-grade interval of 8 m at 1,007 ppm. While the average Cu grade of this first 76m is 0.22%, these Mo grades raise the CuEq to 0.35% over this interval. Starting at a downhole depth of 26m, Au mineralization averages 0.15g/t over 10 m, with one sample returning 0.52g/t. Additional Au assays above 0.2g/t were also encountered at greater depths.

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HM113, located 75m east of HM109, was drilled for the same objectives. Results are broadly comparable to HM109, though Cu grades are more continuous, averaging between 0.25–0.30%. Ten mineralized zones, ranging from 2m to 6m in width, returned grades of 0.30–0.35% Cu. These results indicate a reduction in grade with depth within the shallower Cu zones of Target 4. Molybdenum (Mo) is also present at elevated levels, with a 92 m interval from 24m downhole averaging 144 ppm.

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Updated Drill Program

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The drill program has been planned to achieve a comprehensive conversion of all mineral resources from the Inferred to the Indicated category resource in order for all of the material to qualify for the PFS study update in the second half of 2026. This entire drill program comprises 55,000m to be completed by the end of July 2026 to allow time for the assaying and updated resource modelling in 2026 Q3.

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Quality Control

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All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory, No. T0387) and ActLabs in Canada, while the other half was quartered with one quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. 33 elements are analysed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch and are actively used to ensure proper quality assurance and quality control (“QA/QC”) The QA/QC frequency is 1 in 20 for each of blanks, duplicates and standards.