Mr. Dan Weir reports

COYOTE COPPER MINES RECEIVES ITS PHASE 1 DRILL PERMITS FOR ITS WHOLLY OWNED COPPER SPRINGS PROJECT AND PROVIDES NOTICE OF ACCELERATION OF CERTAIN WARRANTS

Coyote Copper Mines Inc. has received full approval for its phase 1 drill permits at the company's wholly owned Copper Springs project, following completion of its plan of operations. A total of 37 drill locations has been authorized, each capable of hosting multiple drill holes. The company has three years to complete drilling and reclamation activities.

Dan Weir, chief executive officer of Coyote Copper Mines, stated: "Receiving our phase 1 drill permits allows us to begin testing what we believe is a very large porphyry copper system. The scale of the geophysical anomalies, the strength of copper geochemistry, and the structural and intrusive architecture we have mapped all point to a significant mineralized environment. Several major mining companies have already visited the project -- some multiple times -- and their technical feedback has reinforced the potential we see at Copper Springs. With 37 approved drill sites, expanding geophysical coverage and a growing land package, we are entering phase 1 drilling with a disciplined, systematic approach. We look forward to advancing this exceptional project."

This phase 1 drilling campaign will test both shallow oxide and deeper sulphide copper targets across the Copper Springs project. The targets were defined through successful prior exploration programs, including mapping, sampling and multiple generations of geophysical surveys. Additional soil sampling, channel sampling and new geophysical work are under way to refine drill targeting. Permitting for phase 2 drilling will begin shortly.

Operating copper mines across the Western United States typically report grades between 0.2 per cent and 0.5 per cent Cu (copper). Capstone Copper's Pinto Valley mine, located just north of Coyote Copper's project, has a proven and probable grade of 0.32 per cent Cu. Achieving similar grades during drilling would be highly encouraging.

The company is also expanding its land position with the staking of 111 new claims (20.66 acres each), increasing the project's footprint from 63.33 square kilometres (15,649 acres) to 72.36 square km (17,880 acres).

Updated geophysical programs

Phase 1 of the 2-D induced polarization (IP) survey is under way, covering 17 line kilometres across lines L1 through L7 in the central-eastern portion of the project. Completion is expected by mid-September.

Phase 2 of the IP program (lines L8 through L12) will focus on the Gibson area and the surrounding Donut feature identified in earlier surveys.

A combined CSEM-MT and SIP survey will begin around Sept. 21, covering the remaining areas not included in the February, 2026, program.

The Copper Springs porphyry copper system -- the conceptual exploration target

Based on the current geophysical and geochemical data set, the project area hosts a three km by three km by 1.4 km subsurface anomaly interpreted to represent a large intrusive-hydrothermal center consistent with a porphyry copper system. Surface and near-surface soil and bedrock sampling has returned copper values up to 1,000 parts per million (0.1 per cent), indicating strong hydrothermal signature and confirming the presence of a significant mineralized footprint.

The scale of the geophysical anomaly and the strength of copper geochemical anomalies are consistent with Tier 1 porphyry copper systems such as those found in the Arizona copper triangle, where large open-pit deposits typically grade 0.2 to 0.5 per cent Cu with localized higher-grade zones.

The project therefore represents a high-priority, Tier 1-scale exploration target, warranting systematic drilling to evaluate the presence, continuity and grade of copper mineralization.

Notice of warrant acceleration

Certain warrants to purchase common shares of the company contain the following provision:

"Upon the company receiving its drill permits, then the company may deliver a notice to the warrant holder notifying such warrant holder that the warrants must be exercised within 30 calendar days from the date of the acceleration notice, otherwise the warrants will expire at 4 p.m. (Toronto time) on the 30th calendar day after the date of Acceleration notice."

At a recent meeting of the board of directors of the company, it was approved to accelerate the warrants upon receipt of the phase 1 drill permits.

The following warrants are affected by the acceleration clause:

• 7,519,044 warrants with an exercise price of 15 cents from a financing that was completed in July and August of 2025.
  • 1,644,174 have been exercised;
  • The balance outstanding is 5,874,870;
  • If all warrants are exercised $881,230.50 would be received by the company.
• 10,859,990 warrants with an exercise price of 20 cents from a financing that was completed in January and February of 2026:
  • 285,716 have been exercised;
  • The balance outstanding is 10,574,274;
  • If all warrants are exercised $2,114,854.80 would be received by the company.
• 1,052,152 finders' warrants with an exercise price of 14 cents from a financing that was completed in January and February of 2026:
  • None have been exercised;
  • If all warrants are exercised $147,301.28 would be received by the company.
• The total amount to be received by the company if all warrants are exercised would be $3,143,386.58.

The acceleration date is the date of this press release being Sept. 15, 2026. Notice of the acceleration of the warrants is also being sent separately to all holders of warrants.

Warrant holders will have until Oct. 15, 2026, at 4 p.m. (Toronto time) to exercise their warrants or these warrants will expire.

To exercise warrants a holder of warrants should:

1. Fill out the back of the warrant certificate and e-mail it to DanWeir@CoyoteCopper.com by Oct. 15, 2026, at 4 p.m. (Toronto time);
2. Send a money wire transfer for the exercise price of the warrants which must be received by the company by Oct.15, 2026, at 4 p.m. (Toronto time).

Note: The company has also issued 17,176,742 warrants in connection with a financing which were issued on May 28, 2026, and June 15, 2026. The exercise price of these warrants is 50 cents. These warrants do not have an acceleration clause.

Qualified person

Michael N. Feinstein, PhD, CPG, is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical disclosure contained in this press release. Dr. Feinstein is independent of the company.

We seek Safe Harbor.