Mr. Jonathan Egilo reports

AXO COPPER CORP. ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED BOUGHT DEAL TO $35 MILLION

Due to strong investor demand, Axo Copper Corp. has entered into an amended agreement with Desjardins Capital Markets and BMO Capital Markets to act as co-lead underwriters and joint bookrunners pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 50 million units, at a price of 70 cents per unit, for gross proceeds of $35-million.

Each unit is composed of one common share of the company and one-half of one warrant. Each warrant shall be exercisable into one common share of the company at a price of $1 per warrant share and for an exercise period of 18 months from the closing of the offering. If, at any time prior to the expiry date of the warrants, Axo Copper's 10-trading-day volume-weighted average closing price on the TSX Venture Exchange (or other applicable exchange) equals or exceeds $1.25, Axo Copper may, within 10 days of the occurrence of such event, accelerate the expiry of the warrants by delivering a notice to the holders of warrants, in which case the warrants will expire 30 days following the date of such notice. Any unexercised warrants remaining after the accelerated exercise period will expire and be of no force and effect.

The company will grant the underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the offering. If this option is exercised in full, an additional $5.25-million in gross proceeds will be raised pursuant to the offering, and the aggregate gross proceeds of the offering will be $40.25-million.

The company plans to use the net proceeds from the offering for exploration and advancement of its La Huerta project and San Antonio gold project, and for general working capital purposes. The units will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Quebec. The units will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the U.S. Securities Act of 1933, as amended, and other jurisdictions outside of Canada and the United States provided that no prospectus filing or comparable obligation arises.

The offering is scheduled to close on or about Feb. 19, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX-V and the securities regulatory authorities.

The short form prospectus will be filed with the securities commissions in each of the provinces of Canada except Quebec and will be available on SEDAR+. Additionally, the short form prospectus may be obtained, without charge, upon request by contacting Desjardins Capital Markets at 25 York St., Suite 1000, Toronto, Ont., Canada, M5J 2V5, attention: ecm@desjardins.com.

About Axo Copper Corp.

Axo Copper is a Canadian mineral exploration company engaged in the exploration and development of La Huerta property, a new copper discovery in Jalisco, Mexico, and the San Antonio gold property, a past-producing oxide copper mine located in Sonora, Mexico.

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