Mr. Heye Daun reports

KORYX COPPER FILES TECHNICAL REPORT WITH UPDATED MINERAL RESOURCE ESTIMATE FOR THE HAIB COPPER PROJECT, SOUTHERN NAMIBIA

Koryx Copper S.A. has publicly filed on SEDAR+ its new technical report with the updated mineral resource estimate (MRE), titled "NI 43-101 Technical Report -- March 2026 Mineral Resource Estimate Haib Copper Project, Namibia," on the wholly owned Haib copper project in southern Namibia.

The report has an effective date of March 16, 2026, and a report date of May 8, 2026. The technical report was prepared for the company by The MSA Group Pty. Ltd., written by Jeremy C. Witley, PrSciNat (No. 400181/05), head of mineral resources of MSA Group, and by Valentine E. Coetzee, BEng, MEng, PrEng (No. 20070076), director of process and technology, for DRA Projects Europe Pty. Ltd.

2026 PEA (preliminary economic assessment) and PFS (prefeasibility study) plans

The company's PEA, dated October, 2025, is no longer current or being relied on and is replaced in its entirety by the technincal report filed on May 8, 2026. The company plans to prepare a new 2026 PEA and publish it by late Q2 (second quarter) 2026. In addition, the company expects to complete 50,000 metres of additional infill and growth drilling before the end of the summer of 2026. The results will be incorporated into another MRE update, which will serve as the basis for the PFS that is currently planned to be announced during Q4 (fourth quarter) 2026.

RSU (restricted share unit) issuance

The company has approved the grant of up to an aggregate of 2.41 million RSUs to certain key executives, officers, consultants and directors of the company pursuant to the company's omnibus plan, of which one-half of the RSUs will vest 12 months from the date of issuance, and then one-quarter each after 18 and 24 months. Each RSU represents the right to receive, once vested, one common share in the capital of the company for every RSU held in accordance with the terms of the omnibus plan.

COO (chief operating officer) succession

The company also announces that Trevor Faber has accepted a senior project role with another mining company that is commencing project execution in the near term. The board acknowledges that this new role aligns more closely with his background and the immediate execution demands of that project. Koryx has initiated its succession process and will provide an update on the appointment of a new COO in due course. The board thanks Mr. Faber for his contributions and wishes him continued success in future endeavours.

Qualified person

Mr. Witley (BSc (honours), MSc (Eng)) is a geologist with more than 35 years of experience in base and precious metals exploration and mining, as well as mineral resource evaluation and reporting. He is head of mineral resources for MSA Group (an independent consulting company), is registered with the South African Council for Natural Scientific Professions (SACNASP) and is a fellow of the Geological Society of South Africa (GSSA). Mr. Witley has the appropriate relevant qualifications and experience to be considered a qualified person for the style and type of mineralization and activity being undertaken as defined in National Instrument 43-101, and is considered independent pursuant to NI 43-101. Mr. Witley has reviewed and approved the technical and scientific information within this news release.

About Koryx Copper S.A.

Koryx Copper is a Luxembourg domiciled copper development company focused on advancing its 100-per-cent-owned Haib copper project in Namibia while also building a portfolio of copper exploration licences in Zambia. Haib is a large, copper/molybdenum/gold porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators.

More than 120,000 metres of drilling have been conducted at Haib since the 1970s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are under way aiming to demonstrate Haib as a future long-life, low-cost, low-risk open-pit, sulphide flotation copper project with the potential for additional copper production from heap leaching.

Mineralization at Haib is typical of a porphyry copper deposit, and is dominantly chalcopyrite with minor bornite and chalcocite present, and only minor secondary copper minerals at surface due to the arid environment. Haib is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present, and only minor secondary copper minerals at surface due to the arid environment.

Further details of the Haib copper project are available in the technical report. The report and other information is available on the company's website and under the company's profile on SEDAR+.

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