Mr. Heye Daun reports

KORYX COPPER PROVIDES UPDATE ON ZAMBIA PROJECTS WITH DEFINITION OF DRILL TARGETS AT LUANSHYA WEST AND COMPLETION OF REGIONAL SURFACE GEOCHEMISTRY AT MPONGWE

Koryx Copper Inc. has provided updates on exploration results and progress on its two large-scale exploration licences in Zambia, namely the Luanshya West project (LEL 23246; 54 square kilometres) and the Mpongwe project (LEL 23248; 675 square kilometres).

Highlights:

• Multiple targets identified and confirmed for drill testing at Luanshya West;
• Successful drone magnetic survey, infill and extension of soil sampling, and pitting programs completed at Luanshya West;
• First-pass regional surface geochemical sampling completed over Mpongwe licence;
• Drill program planned for early 2026 to test targets at Luanshya West.

Koryx holds the option to acquire up to 80 per cent of the projects in the Copperbelt in Zambia. The Zambian Copperbelt makes up part of the larger Central African Copperbelt (CACB), which extends north into the Democratic Republic of the Congo. The CACB is the world's largest sedimentary-rock-hosted stratiform copper province and includes at least 14 giant deposits such as First Quantum Minerals' Kansanshi and Sentinel deposits as well as Ivanhoe's Kamoa and Kakula deposits.

Heye Daun, Koryx Copper's president and chief executive officer, commented: "We are pleased to provide an update on our Zambian projects, where early-stage exploration has progressed well through the field season. At Luanshya West, we are now ready for our maiden drill program in early 2026, where a number of very interesting targets in various stratigraphic and structural settings have been identified. At the Mpongwe project, initial regional surface sampling has been completed over most of the licence and we expect to have areas for follow-up in early 2026. We look forward to finalizing our interpretations and planning over the wet season in preparation of a quick start to drilling in 2026."

Luanshya West project

The Luanshya West project is located on the southeastern margin of the area known as the Chambishi or Kakontwe subbasin, where Lower and Upper Roan subgroup rocks onlap onto the basement dome of the Kafue anticline. Mineralization along strike to the immediate northeast includes known deposits at Chibuluma and Chifupu.

The Lower Roan rocks host most of the mineralization in the area around the Chambishi basin and specifically within the footwall arenites. Additional prospectivity is interpreted in the licence area at the upper contact zone between the Mwashya subgroup and lower Nguba subgroup rocks.

The 2025 field programs have identified further copper-plus-or-minus-cobalt soil geochemistry anomalies, better constrained existing anomalies, and allowed a more robust ranking of the geochemistry anomalies based on reconnaissance mapping, selected pitting, and improved geophysical data coverage and structural interpretation.

Results of a drone-mounted airborne magnetic survey have been received and interpreted. The survey was flown at 50-metre line spacing and aimed to improve on existing historical geophysics data available for the area. The detailed magnetic data have allowed improved lithological and structural interpretations and prioritization of targets for further work.

Follow-up and infill soil sampling and analyses of approximately 1,000 samples confirmed existing anomalism, extended previously identified surface geochemical anomalies, and added new anomalies and targets.

In addition to the soil sampling, test pits of one metre to 2.3 metres depth were dug on selected targets (LWT1, LWT3 and LWT6) to assess regolith and the nature of the soil anomalism obtained at surface. In general, regolith is composed of iron-rich laterite with variable manganese content, generally greater than two metres thick, but soils outside of drainages (locally called dambos) are regarded as residual in nature.

At target LWT1, pit samples (in six pits) have high manganese values (mean greater than 4,700 parts per million) and coincident elevated copper (mean greater than 850 ppm) and cobalt (mean greater than 1,100 ppm), suggesting that the elevated copper/cobalt might be due to the scavenging effect of the manganese in the lateritic material. Target LWT1 is nevertheless considered a priority target for drill testing, based on IP (induced polarization) chargeability anomalism, its location adjacent to a reactivated subbasin fault, possible facies changes along strike and lack of surface anomalism associated with similar laterites along strike from the anomaly.

Pitting at targets LWT3 and LWT6 indicated moderate increases in copper values at depths between one metre and 2.3 metres (up to 1,387 ppm) and low manganese values (less than 490 ppm). These targets, with their additional characteristics adjacent to faults of interest and IP chargeability anomalies, make them priorities for drill testing. See below for further discussion of priority targets for drill testing.

A small part of the licence in the southwest was not covered by the drone survey or soil sampling due to access restrictions in an area of government-owned forestry plantations. Permission has now been granted to carry out soil sampling in this area and is expected to be finalized prior to the end of the 2025 field season.

Priority targets that are currently planned for drill testing in 2026 include the following.

LWT1:

• Discrete copper-cobalt surface geochemistry anomaly (up to 568 ppm copper and 558 ppm cobalt); approximately 400-metre strike length in upper part of Lower Roan stratigraphy; the target is for mineralization similar to that found along strike to the northeast, for example, at Chibuluma South and Chifupu;
• IP (pole-dipole) chargeability anomaly coincident with surface geochemistry;
• Pitting (carried out in 2025) shows elevated copper (1,618 ppm) and cobalt (2,231 ppm) between 1.2 and 1.8 metres depth, albeit with high manganese values (greater than 9,000 ppm);
• Adjacent to northwes-southeast-trending fault structure interpreted to control stratigraphy in this area, particularly coarse clastic sedimentary units to the east (indicating facies changes); possible reactivated sedimentary basin structure and hydrothermal fluid pathways.

LWT11:

• New, moderate surface geochemistry copper anomaly identified by 2025 soil sampling (up to 296 ppm copper); the target is for mineralization similar to that found along strike to the northeast, for example, at Chibuluma South and Chifupu;
• Adjacent to northwest-southeast fault structure, interpreted as a possible hydrothermal fluid pathway;
• Host rocks are basal Lower Roan, with anomaly over 500 to 1,000 metres strike extent.

LWT3:

• A broad (one kilometre by 1.2 kilometres), moderate copper-cobalt surface geochemistry anomaly (peak values of 634 ppm copper and 112 ppm cobalt); copper/scandium ratios suggest it is not mafic-related anomalism; mineralization targeted is structurally controlled reduced stratigraphy or orogenic veining analogous to a Kansanshi-style setting;
• IP (pole-dipole) chargeability anomaly at 75-200 m depth coincides with surface geochemistry.
• Pitting (carried out in 2025) shows elevated copper and cobalt (1,387 ppm and 277 ppm, respectively) between one and two metres depth, with moderate manganese values (less than 500 ppm);
• Host rocks are likely to be Upper Roan or possibly Mwashya subgroup, below the basal Nguba group ironstones (which occur to the northwest).

LWT4:

• Moderate copper surface geochemistry anomaly (peak values of 602 ppm copper and 72 ppm cobalt); copper/scandium ratios suggest not mafic-related anomalism; mineralization targeted is structurally controlled reduced stratigraphy or orogenic veining;
• IP (pole-dipole) chargeability anomalies with apparent northerly dip coincide with surface geochemistry;
• Host rocks are likely to be Upper Roan or possibly Mwashya subgroup, and the anomaly could be related to LWT3 (to the southwest) and separated only by small drainages in the area;

LWT6:

• Moderate copper surface geochemistry anomaly (up to 314 ppm copper; separate peak of 174 ppm cobalt); mineralization targeted is structurally controlled reduced stratigraphy or orogenic veining;
• Coincides with northwest-southeast fault structure, interpreted as a possible hydrothermal fluid pathway;
• Pitting (carried out in 2025) shows moderately elevated copper (722 ppm) between one and two metres depth, with moderate manganese values (less than 400 ppm);
• Host rocks are Upper Roan or possibly Mwashya subgroup, below basal Nguba group ironstones.

Interpretation is continuing, and, once the remaining soil sampling is completed in the southwest of the licence, additional targets will be added to the drill planning if merited.

Planned drilling is likely to include both direct target testing and deeper exploratory drilling aimed at confirming stratigraphic position. Approximately 3,000 metres of drilling are planned.

Mpongwe project

Access to the Mpongwe project remained challenging until the third quarter due to late rains and waterlogged low-lying areas that cover large parts of the licence.

Historical geophysical and limited geochemical data were compiled and interpreted, and available historical drill core was relogged. This included representative magnetic susceptibility measurements and portable XRF (X-ray fluorescence) analyses. The relogging of the core suggests the rocks are part of the upper parts of the Roan group (for example, Mwashya or Upper Roan subgroups). This agrees with the company's interpretation of the historical geophysical data that the licence area does not contain a basement (pre-Katangan) dome (as indicated on the regional published geological maps), unless buried below folded and thrusted Roan group sedimentary rocks.

Reconnaissance mapping and regional soil sampling commenced in August and were expanded to include first-pass regional soil sampling over most of the licence area. A total of approximately 5,000 soil samples have been collected and final results are expected in January, 2026.

Interpretation of results will be undertaken during the wet season, with the expectation of commencing a follow-up work program in Q2 2026. If possible, initial drilling will be carried out as part of the planned drill program at Luanshya West.

Licence ownership

The process to transfer the licences into the company's Zambian-registered wholly owned subsidiary is continuing. The company currently owns 51 per cent of the licences and has an option to earn up to 80 per cent with an additional $3-million (U.S.) expenditure over the next 30 months. The company has retained legal counsel in Zambia to assist with the official lodging of documentation with the Ministry of Mines and Minerals Development in Zambia.

Quality control

Soil samples were collected from the B horizon at an approximate depth of 25 to 30 centimetres at each sample site. Samples were dried if required and sieved to 180 microns/minus-80 mesh yielding approximately 100 grams of sieved material. Quality assurance and quality control (QA/QC) samples were inserted at a frequency of approximately 5 per cent, including blank, certified reference material (CRM) and field duplicates. Samples were submitted to the Intertek Genalysis preparation laboratory in Kitwe, Zambia, and analyses were carried out at the Intertek Genalysis Perth laboratory using code 4A/OE, which uses a multiacid digest, including hydrofluoric, nitric, perchloric and hydrochloric acids in Teflon tubes and analyzed by inductively coupled plasma optical (atomic) emission spectrometry.

Qualified person

Dean Richards, PrSciNat, MGSSA, BSc (honours), 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 (PrSciNat 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 Inc.

Koryx Copper is a Canadian copper development company focused on advancing the 100-per-cent-owned Haib copper project in Namibia whilst also building a portfolio of copper exploration licences in Zambia. Haib is a large, advanced (preliminary economic assessment stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000 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. Haib has a current mineral resource of 511 million tonnes at 0.33 per cent copper and 51 ppm molybdenum for 1,668,000 tonnes of contained copper and 25,900 tonnes contained molybdenum in the indicated category and 308.9 million tonnes at 0.31 per cent copper and 40 ppm molybdenum for 949 million tonnes of contained copper and 12,400 tonnes contained molybdenum in the inferred category (0.15-per-cent-copper cut-off).

Mineralization at Haib is typical of a porphyry copper deposit and it 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.

We seek Safe Harbor.