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King Copper Discovery Corp
Symbol KCP
Shares Issued 320,265,669
Close 2026-10-08 C$ 0.67
Market Cap C$ 214,577,998
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King Copper hires Kluane as Colquemayo drill contractor

2026-10-09 13:22 ET - News Release

Mr. Jonathan Richards reports

KING COPPER SELECTS DRILL CONTRACTOR FOR INAUGURAL DRILL PROGRAM AT COLQUEMAYO

King Copper Discovery Corp.'s Peruvian operating company, Aurora Copper Peru SAC, has selected Kluane Drilling Peru SAC as its drilling contractor for the company's initial phase of drilling at the Colquemayo copper project in southern Peru.

King Copper's inaugural drill program is fully financed, consists of over 36,000 metres and marks a major new phase of exploration at Colquemayo. Drilling will focus on testing five initially identified, highly prospective porphyry targets across Colquemayo, testing the deeper porphyry copper potential and unlocking the multidiscovery potential of this extensive mineralized system. The initial contract comprises 15,000 metres of diamond drilling.

Jonathan Richards, chief executive officer, commented: "The high-grade potential of the Colquemayo mineralized system is illustrated by prior drilling that returned up to 15.15 metres of 27 per cent copper, within a broader intercept of 237.3 metres of 2.4 per cent copper, starting at a downhole depth of 306.25 metres in hole COQ-10-36. Our technical work at Colquemayo has now defined a robust pipeline of five initial priority porphyry targets that we plan to systematically test through diamond drilling. The scale of the mineralized system, together with the significant copper intercepts from shallower historical drilling, highlights compelling discovery potential across Colquemayo."

Initial drill program highlights

The Colquemayo project hosts a series of high-priority exploration targets defined by multiple geological, mineralogical and hydrothermal indicators consistent with porphyry-epithermal systems. These include high-grade copper mineralization, B-type quartz veins, phreatic breccias containing porphyry-related clasts, porphyritic domes and white-mica crystallinity signatures indicative of increasing hydrothermal temperatures at depth. Together, these features support the potential for deeper, copper-gold porphyry mineralization and provide compelling targets for the company's continuing exploration program. The following targets are distributed across the broader (12 kilometres by four kilometres) Colquemayo mineralized system:

  • Amata -- deep exploration targeting high-grade copper mineralization associated with an epithermal system, hosted within phreatic breccias containing clasts indicative of a porphyry system at depth;
  • Cairani -- targeting the porphyry-epithermal transition, characterized by high-grade copper mineralization, including covellite and bornite, together with the presence of B-type quartz veins;
  • Coripuquio -- target characterized by a Maricunga-style vein system associated with phreatic breccias containing clasts of B-type quartz veins, supporting the potential for a porphyry system at depth;
  • Palcamayo -- extensive diatreme system representing a compelling target for deeper exploration and investigation of potential mineralization at depth;
  • Yanarico -- porphyritic domes within a diatreme setting, associated with a high white-mica crystallinity index, providing evidence for a potentially mineralized hydrothermal system at depth.

Kluane Drilling Peru

Kluane Drilling Peru is part of Kluane Drilling Ltd., a private Canadian company with more than 35 years of experience dedicated to providing high-quality drilling services internationally based on technical innovation and human talent. Kluane's modular drilling equipment is well suited to the terrain and logistical requirements at Colquemayo. Kluane has significant drilling experience in Peru and maintains an operational base in Arequipa, approximately 120 kilometres by road from Colquemayo, providing regional logistical and operational support as King Copper advances the remaining requirements toward drilling.

DIA approval and next steps

King Copper Discovery received approval of its declaracion de impacto ambiental (DIA) for the Colquemayo project, located in southern Peru. The approved DIA authorizes:

  • Over 36,000 metres of diamond drilling;
  • Up to 59 drill holes from 40 drill platforms;
  • Exploration activities across multiple priority target areas identified through the company's geological reinterpretation and targeting work;
  • Supporting infrastructure required to execute the planned exploration program.

With the selection of the drill contract now complete, King Copper is advancing remaining premobilization requirements necessary to commence drilling. Further details regarding drill mobilization and the commencement of the drill program will be provided as these activities advance.

About King Copper Discovery Corp.

King Copper is a TSX Venture Exchange-listed exploration company focused on the Colquemayo copper-gold project in South America. The company is led by a team responsible for multiple copper-gold-silver discoveries.

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