Mr. Sam Spring reports

KINCORA EXECUTES DEFINITIVE AGREEMENTS FOR DIVESTMENT OF MONGOLIAN ASSETS

Kincora Copper Ltd. has executed share purchase agreements with a wholly owned subsidiary of Tumen Ail Coal LLC (TAC) (such wholly owned subsidiary of TAC being a nominee of TAC) to divest Kincora's wholly owned Mongolian subsidiaries.

The aggregate staged consideration for the transaction is $10-million (U.S.), payable in full to Kincora, free and clear of any taxes, levies or fees but excluding certain contractual obligations of Kincora.

Following the previously announced receipt of $1.5-million (U.S.) option payment (May 19, 2026, release titled "Kincora receives option payment for divestment of Mongolian assets") and the execution of the definitive agreements described above, a further $3.5-million (U.S.) stage payment is due to Kincora within five business days.

A final staged payment of $5-million (U.S.) is due into an escrow account for release upon registration of the changes in the shareholders of the Mongolian subsidiaries, which is anticipated to occur before year-end.

Sam Spring, president and chief executive officer of Kincora, commented: "We are pleased to have achieved this significant milestone for the divestment of Mongolian asset portfolio. "The transaction materially strengthens Kincora's balance sheet, sharpens our focus on our Australian portfolio and unlocks inherent value of one of our portfolio of projects."

About Kincora Copper Ltd.

Kincora is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy and currently drilling at two projects (Nevertire South and Condobolin).

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 New South Wales.

The company has already unlocked over $100-million 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 its remaining 100-per-cent-owned flagship and advanced-exploration-stage porphyry projects.

By having a significant portfolio of partner-financed large porphyry projects and a very 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.

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