Mr. Sam Spring reports

INCREASED BUDGET SUPPORTS DRILLING OF COOKARA TARGET AT NEVERTIRE SOUTH

Kincora Copper Ltd. has provided an update on continuing drilling activities at its Nevertire South and Nyngan licences, including a newly named and refined target -- Cookara -- and increased 2026 partner-financed drilling budget. The licences make up part of the larger Northern Junee-Narromine belt (NJNB) project, within the covered northern extensions of the Macquarie Arc, and are included within two earn-in and joint venture agreements with AngloGold Ashanti Australia Ltd.

Highlights:

• Vectors support high-priority target: newly named Cookara target following in-house AngloGold Ashanti and Kincora vector analysis, located in the northern section of the Nevertire South licence;
• Increased budget to support commenced drilling: additional 2026 budget from AngloGold Ashanti supports a recently commenced program at the Cookara target with further potential infill, deeper and stepout drilling expected at the Cookara target in 2027 within a wider systematic exploration approach looking to advance a potential six-pronged strategy;
• Scout drilling concluded at Nyngan: five holes for 2,010 metres recently completed across two targets (the Ace of Spades and Gerar targets);
• Strong partnership and commercial alignment: The Nyngan and Nevertire South licences form part of two earn-in and joint venture agreements with AngloGold Ashanti. AngloGold Ashanti has the right to invest up to $100-million (Australian) across a total of five adjacent licences within Kincora's NJNB portfolio, covering a continuous strike greater than 100 kilometres. Kincora currently manages the programs and receives a 10-per-cent management fee on expenditures.

John Holliday, technical committee chair, and Peter Leaman, vice-president of exploration, commented: "We are excited by the technical merits and additional 2026 funding support by our partner AngloGold Ashanti to accelerate drill testing the newly named and refined Cookara target. A further program for up to three holes has recently commenced and is following up strong vectors.

"This year's activities at the Nevertire South licence have very significantly accelerated and successfully upgraded Kincora's exploration thesis, both the immediate Cookara target and case for much larger province-scale potential.

"The expectation for the end of the year is to test this initial high-priority target, coupled with refining a large-scale systematic campaign with our partner AngloGold Ashanti to advance a pipeline of advanced targets to maiden drill holes across the wider Nevertire project."

Drilling commenced at Cookara target at Nevertire South

Follow-up drilling has been prioritized with additional calendar year 2026 budget allocated for the newly named Cookara target located in the northern section of the Nevertire South licence.

Up to two infill and one stepout hole are proposed before the Australian summer holiday season with further infill and potential deeper drilling expected at the Cookara target in 2027.

The Cookara target is located within the northern section of the Nevertire magmatic complex (NMC), which is interpreted to host holes NEDD006, NEDD007, NEDD011, NEDD014, NEDD015 and ACDNY006, among others.

As previously reported, 11 Kincora holes (drilled between 2025/2026) and one prior Newcrest hole (2008) have confirmed a large multiple phased intrusive and volcanic complex (including phase 4 ages), returned broad and localized higher-grade copper, gold, molybdenum, with strong pathfinder elements.

In-house AngloGold Ashanti pathfinder analysis, coupled with geological logging, and a geochemical and alteration scorecard approach, have provided interpreted vectors and aided the placement of the three current follow-up drill holes.

Extensive research on global and Macquarie Arc intrusive systems support that certain mineral elements become elevated in zones around the core of deposit in predictable ways.

The Geological Survey of New South Wales completed a seismic survey in 2025 across the Central Lachlan Orogen that traverses the NMC. Recently released data and interpretations provide deep crustal analysis supporting existing magnetic and gravity interpretations, providing insight to regional-scale faulting and confirming the significant scale of the interpreted undercover (and underexplored) extension of the Macquarie Arc.

Drilling activities in 2026 at Nevertire South have upgraded two large intrusive-volcanic complexes for follow-up (both the northern and southern sections of the NMC -- Cookara target located in the northern section of the Nevertire South licence), with scout drilling farther south intersecting interpreted similar intrusive complexes across a broader 40-plus-kilometre total trend.

Kincora and AngloGold Ashanti are progressing planning for the 2027 field season to potentially advance and drill test:

• The Cookara target;
• The wider northern section of the Nevertire magmatic complex;
• The southern section of the Nevertire magmatic complex;
• Interpreted new Macquarie Arc intrusive complexes intersected in 2026 scout drilling further south within the Nevertire South licence;
• Other potential intrusive complexes through further maiden drill testing;
• Priority intrusive complexes through air-core stepout drilling, as well as follow-up rotary mud and diamond tails.

About the NJNB project portfolio

The Macquarie Arc has seen significant recent corporate activity with over $16-billion (Australian) of M&A (merger and acquisition) for producing porphyry assets and over $385-million (Australian) of exploration earn-in/joint ventures. The district has seen considerable exploration success, including two greater-than-10-million-ounce gold equivalent discoveries/resource expansions and emerging gold discoveries by Waratah Resources at the Spur project and LinQ Minerals at the southern zone of the Gilmore project.

Despite regional magnetics effectively mapping the Macquarie Arc volcanic belts, due to the postmineral cover, there has been very limited prior drilling of the extensions of both the Junee-Narromine and Molong volcanic belts relative to the southernmore outcropping sections hosting a number of world-class deposits and mines (Cadia, Cowal and Northparkes).

Kincora's portfolio and the wider NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, gravity and new ambient noise tomography (ANT) surveys, supportive of large-scale targets analogous to porphyry deposits located in the southern section of the arc. To date, over $30-million (Australian) of exploration supports this geological interpretation.

In Q2 (second quarter) 2025, AngloGold Ashanti signed a major amendment with Kincora to include a second joint venture supporting a continuous strike greater than 100 kilometres and five licences. To date, Kincora has drilled a total of 48 holes for 19,630 metres in partnership with AngloGold Ashanti across three licences.

About Kincora Copper Ltd.

Kincora is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill-ready targets. These assets are located in Australia's Lachlan fold belt, one of the globe's leading porphyry belts, and the historical Condobolin mining field within the Cobar basin in NSW.

The company has already unlocked over $100-million (Australian) of potential partner financing for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 20,000 metres of drilling and over $10-million (Australian) of partner-financed exploration since late 2024, with management fees and exploration ramping up.

Various partner discussions are continuing for the company's remaining 100-per-cent-owned flagship and advanced-exploration-stage porphyry projects.

By having a significant portfolio of partner-financed large porphyry projects and focused capital efficient programs at the Condobolin and other sole-financed projects, the company is seeking to position Kincora as a leading institutional-grade explorer in the public Australian and Canadian markets, and the leading project generator on the Australian Securities Exchange.

Qualified persons

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum, and National Instrument 43-101, Standards of Disclosure for Mineral Projects, and was reviewed, verified and compiled by Kincora's staff under the supervision of Peter Leaman (MSc, mineral exploration, FAusIMM), senior vice-president of exploration of Kincora, and John Holliday (BSc honours, BEc, member of the Australian Institute of Geoscientists), non-executive director and chairman of Kincora's technical committee, who are qualified persons for the purpose of NI 43-101.

Listing Rule 5.23

To the extent that this news release contains references to prior exploration results that have been cross-references to previous announcements made by the company, no new information is contained in this release. The company confirms that it is not aware of any new information or data materially affecting the information contained in the original prior announcements related to those exploration results.

We seek Safe Harbor.