Highlights 

• Assay results reported for 15 drill holes comprising over 5,351m of infill drilling.
• Consistent, wide intercepts up to 714m in width with CuEq Grades exceeding average MRE grade.
• Pockets of higher-grade Au and Mo, and significant localised W (Tungsten) results.
• Best 8 of 15 drill hole assay intersections as follows:
  • HM138:          584m @ 0.34% CuEq (42ppm Mo, 0.040g/t Au) (0 – 584m)
    

incl.         72m @ 0.48% CuEq (0 – 72m)
and        128m @ 0.36% CuEq (136 – 264m)
and        170m @ 0.42% CuEq (306 – 476m) incl. 20m @ 0.70% CuEq

• • HM149:           428m @ 0.35% CuEq (56ppm Mo, 0.027g/t Au) (0-428m)
    
    

incl.          54m @ 0.53% CuEq (26 - 80m)
and           32m @ 0.70% CuEq (92 – 124m)
and           36m @ 0.31% CuEq (142 – 178m)
and           32m @ 0.46% CuEq (186 – 218m)
and           24m @ 0.51% CuEq (252 – 276m)

• • HM153:            714m @ 0.31% CuEq (101ppm Mo, 0.018g/t Au) (0 – 714m)
    

incl.           68m @ 0.54% CuEq (294 – 362m)
and            82m @ 0.41% CuEq (386 – 468m)

• • HM141:             582m @ 0.25% CuEq (51ppm Mo, 0.022g/t Au) (0 – 582m)
    

incl.            84m @ 0.52% CuEq (234 - 318m)
and             58m @ 0.39% CuEq (334 - 392m)
and               8m @ 0.63% CuEq (566 – 574m)

• • HMRC001:         243m @ 0.40% CuEq (98ppm Mo, 0.020g/t Au) (0 – 243m)
  • HM137:              162m @ 0.46% CuEq (50ppm Mo, 0.034g/t Au) (6 – 168m)
  • HM139:                65m @ 0.55% CuEq (32ppm Mo, 0.060g/t Au) (140 - 205m)
  • HMRC002:           24m @ 0.68% CuEq (110ppm Mo, 0.016g/t Au) (92 -116m)

LUXEMBOURG, June 29, 2026 (GLOBE NEWSWIRE) -- Koryx Copper S.A. (TSX:KRY.V) (NSX:KYX) (OTCQB:KRYXF) (“Koryx” or the "Company") is pleased to announce assay results from 15 drill holes (5,351m) received as part of the ongoing infill and expansion drill program on the wholly-owned Haib Copper Project (“Haib” or the “Project”) in southern Namibia.

The Haib deposit is a massive, disseminated porphyry copper (Cu) deposit with associated molybdenum (Mo) and gold (Au). Haib is envisaged to produce a Cu and Mo concentrate via large-scale open pit mining and mainly conventional crushing, milling and sulphide flotation with the potential for additional copper cathode production via oxide heap leaching. Ongoing process flow sheet optimization is aimed at improving project economics whilst reducing technical risk.

Heye Daun, Koryx Copper’s President and CEO commented: “This is another excellent set of drill results from our ongoing 15-rig drill program. Very wide intersections at good grades exceeding 0.3% CuEq, and mostly starting from surface, indicates the potential for further improvements of our mineral resource. In conjunction with the recently announced process flow sheet enhancements, we expect the economics of the Haib project to improve significantly in the upcoming PFS which is on track to be published before the end of 2026.”

Figure 1: Plan view indicating recent drill hole locations. Results indicated in black are shown on the long section below

Figure 2. Long section showing fifteen drillhole intersections relative to the model for Cu mineralization

Discussion of Results

Target 1

HM135 was drilled as an infill hole in the northwest of Target 1, immediately south of the Volstruis River. Cu and Mo results are in line with expectations.

HM137 was drilled as an infill hole targeting the high-grade centre of Target 1 Cu mineralisation. Cu and Mo grades are in line with expectations. Notably, broad W intersections occur within the first 100m, including 4m at 0.12% W from 46m down the hole and a further 20m at 0.03% W. W has been intersected in several other Target 1 holes. Its presence is somewhat anomalous given that W is generally regarded as a proximal metal in porphyry systems. It’s presence in the upper portions of Target 1 holes remains under investigation.

HM139 is in the south of Target 1 and was drilled to test the southward extension and limit of Cu mineralisation. Results are significant with high-grade Cu-Au mineralisation intersected in the lower part of the hole, which was not encountered in previous drilling, and indicates a potential southward extension of Target 1 exceeding 100m. The hole was stopped in mineralisation due to rig limitations, with the final 8m returning 1.13% Cu and 0.14 g/t Au. The hole will be extended using a second rig in the coming months.

HM140 was drilled approximately 140m west of HM139 along the southern limit of Target 1. Good Cu and Mo results are in line with expectations, with combined elevated grades producing multiple CuEq intervals exceeding 0.3% at regular intervals down-hole. Au is known to be elevated in this part of Target 1, and HM140 confirms this, with two 2m samples returning approximately 1g/t Au, 4m @ 0.5g/t and two separate 6m intervals returning 0.1g/t and 0.2g/t Au respectively.

HM141 was drilled on the same section line as HM140 as an infill hole to close drill spacing in the centre of Target 1. Cu and Mo results are in line with expectations for this part of the deposit.

HM149 was positioned as an infill hole for resource conversion in the centre of Target 1. The results are consistent with expectations. Mo is relatively well developed from surface, peaking at ~350 m downhole before declining to low levels. W is also present, with intersections of 6 m at 0.01% W, 4 m at 0.09% W, and 2 m at 0.36% W.

MRC001 is the first reverse circulation hole completed at Haib, drilled as an infill hole in the southeast of Target 1. While intersection widths broadly match expectations, both Cu and Mo grades are above expectations.

Target 2

HM138 was drilled as an infill hole in the eastern central portion of Target 2. Cu results are excellent, with multiple wide CuEq intervals exceeding 0.36%. Au is the most significant outcome of this hole, with deeper portions returning 6m at 0.5g/t Au and a further 20m at 0.42g/t Au, the latter including a 2m sample at 1.13g/t Au and a 2m sample at 1.96 g/t Au. Thes two broader intersections represent the highest Au metal intersections recorded at Haib to date. Data density to the east and west of HM138 remains low, and the lateral extent of this Au-enrichment has not yet been established.

HM143 is located in the southern central portion of Target 2, with partial results previously reported. Cu grades are in line with expectations; however, wide, high-grade Mo mineralisation materially elevates the CuEq grade, producing intervals as wide as 230m at ≥0.34% CuEq containing narrower high-grade intervals within. Au is essentially absent.

HM144 was drilled in the northern central portion of Target 2 to test the possible surface expression of good intersections encountered at depth in nearby holes. Results indicate that HM144 is located outside the limit of economic Cu mineralisation in Target 2, with Mo practically absent.

HM153 is an infill hole drilled through the mid-depth mineralisation of Target 2. Results correlate well with the current resource model, with good to excellent Mo mineralisation maintained across the full drilled extent.
HMRC003 is an infill reverse circulation hole on the northern edge of Target 2. Cu results are in line with expectations and show strong correlation with the existing grade shell models.

Target 3

HM148 is an in-fill hole in the west of Target 4. This area is known to be well mineralised with respect to Mo, and the results reflect this. Overall, Cu and Mo assay results correlate well with the current grade shell model for Target 4.

HMRC002 is an infill reverse circulation hole drilled in Target 4 near the southern contact of the East-West Structural Zone (EWSZ). While Cu and Mo results are in line with expectations, the results do indicate that a minor positional adjustment to the EWSZ boundary will be required in the resource model, but this does not materially affect the mineralisation interpretation.

Table of Significant Intersections

1. True widths are unknown. Widths are interval widths and not true widths. The reported intervals are calculated using the following parameters:
   1. Only CuEq (%) was used to determine the intervals.
   2. The target composite grade is ≥0.30% CuEq.
   3. Composites start and end with samples ≥0.30% CuEq.
   4. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval.
   5. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m).
   6. Grades below 0.20% are included but generally constitute <20% of the interval.
   7. Consecutive grades <0.2% should be fewer than 2 samples (4m).
2. Mineral Resource (MRE) copper equivalent (CuEq%) values have been calculated using commodity type and price considering the relevant recovery rate. The following metal prices were used Cu US$4.54/lb; Mo US$22.68/lb; Au US$4,000/oz along with the following recoveries indicated from test work, Cu 89%; Mo 65% and Au 50%. The CuEq was then calculated using CuEq = [(Cu grade/100 * 0.89 Cu recovery * 2204.62 * $4.54 Cu price/lb) + (Mo ppm/1000000 * 0.65 Mo recovery * 2204.62 * $22.68 Mo price/lb) + (Au grade * 0.50 Au recovery * 4000 Au price/oz / 31.1035)] / [0.89 Cu Recovery * 2204.62 * $4.54 Cu price/lb]
3. Partial results previously reported

Qualified Persons

Mr. Dean Richards Pr.Sci.Nat., MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper Project and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400190/08).Mr. Richards is independent of the Company and its mineral properties and is a Qualified Person for the purposes of National Instrument 43-101.

About Koryx Copper S.A.

Koryx Copper S.A. is a Luxembourg domiciled copper development Company focused on advancing its 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large copper porphyry deposit in southern Namibia with significant gold and molybdenum credits and a long history of exploration and project development by multiple operators.

More than 140,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975), Teck (2014) and Koryx Copper (2021-2026). Extensive further drilling, metallurgical testing and various technical studies have been completed at Haib. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide milling and flotation copper project with additional heap leach potential.

Mineralisation 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. Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralisation and alteration features typical of these deposits.

Further details of the Haib Copper Project are available in the technical report titled “March 2026 Mineral Resource Estimate Haib Copper Project, Namibia, National Instrument 43-101 Technical Report” dated effective March 16, 2026. The report and other information are available on the Company's website at www.koryxcopper.com and under the Company's profile on SEDAR+ at www.sedarplus.ca.

Additional information is also available by contacting the Company:

Julia Becker
Corporate Communications
jbecker@koryxcopper.com
+1-604-785-0850

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the future or prospects of the Haib project or the Company, including prospective production rates and life-of-mine, the timing of publishing a PFS, the commencement of trading of the Shares under the new Company name, and the effective date of the new CUSIP and ISIN assigned to the Shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/98b151ef-90aa-4b59-8cee-d8135e4a31e2

https://www.globenewswire.com/NewsRoom/AttachmentNg/87947637-7701-43b2-aff1-5aed3e970f7a

Figure 1

Plan view indicating recent drill hole locations. Results indicated in black are shown on the long section below

Figure 2.

Long section showing fifteen drillhole intersections relative to the model for Cu mineralization

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