Mr. M. Colin Joudrie reports

SELKIRK COPPER ANNOUNCES UPSIZE OF BOUGHT DEAL PRIVATE PLACEMENT TO $30 MILLION

As a result of strong investor demand, Selkirk Copper Mines Inc. has amended its agreement with a syndicate of underwriters, led by Canaccord Genuity Corp. and including Haywood Securities Inc., Raymond James Ltd. and Stifel Nicolaus Canada Inc., to increase the size of its previously announced bought deal private placement to aggregate gross proceeds of $30,001,300. The offering (as defined below) shall consist of 4,412,000 common shares of the company that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at a price of $1.70 per flow-through share for gross proceeds of $7,500,400, and 19,566,000 common shares of the company at a price of $1.15 per common share for gross proceeds of $22,500,900.

The company shall grant the underwriters an option to purchase up to an additional 4,348,000 common shares at the common share issue price for additional gross proceeds of up to $5,000,200 exercisable at any time up to 48 hours prior to the closing of the offering.

The company agrees and covenants that it will incur Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures in an aggregate amount of not less than the total amount of the gross proceeds from the sale of the flow-through shares (the commitment amount) on or before Dec. 31, 2027, and to renounce all the qualifying expenditures in an amount equal to the commitment amount in favour of the purchasers or substituted purchasers of the flow-through shares, effective Dec. 31, 2026. In the event that the company is unable to renounce qualifying expenditures as described above, and/or the qualifying expenditures are otherwise reduced by the Canada Revenue Agency, the company will indemnify each purchaser or substituted purchaser for the additional Canadian income taxes payable by such purchaser or substituted purchaser as a result of the company's failure to incur and renounce the qualifying expenditures or as a result of the reduction as agreed.

The company intends to use the proceeds of the offering to continue development of the company's Minto mine, as well as for working capital and general corporate purposes.

The common shares and flow-through shares will be offered by way of private placement pursuant to applicable exemptions from prospectus requirements in each of the provinces of Canada and in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction.

It is anticipated that closing of the offering will occur on or about April 30, 2026, or such other date or dates as the company and the underwriters may agree. The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the conditional approval of the TSX Venture Exchange. The securities to be issued in connection with the offering will be subject to a statutory hold period of four months and one day from closing date in accordance with applicable securities laws.

The underwriters will receive a cash commission equal to 6 per cent of the gross proceeds of the sale of the common shares and flow-through shares, except with respect to subscribers on the company's president's list for which a cash commission equal to 2 per cent shall be payable.

About Selkirk Copper Mines Inc.

Selkirk Copper is a well-financed, newly formed company with a controlling interest held by the Selkirk First Nation through its wholly owned subsidiary, which, in partnership with the Selkirk First Nation, is completing a thorough exploration drilling campaign and a restart and redevelopment plan for the former Minto copper-gold-silver mine based on best-in-class environmentally sustainable mining, development and reclamation practice. Selkirk Copper controls 26,850 hectares of prospective mineral claims located in the Minto-Carmacks copper belt as well as significant open-pit and underground infrastructure, a 4,100-tonne-per-day processing plant, a 400-person full-rotation camp, water treatment facilities, numerous ancillary buildings, and mobile equipment centred on the former Minto copper-gold-silver mine. Selkirk Copper's mineral tenure, operation infrastructure, access roads and power line are located on or adjacent to lands of the Selkirk First Nation, much of which are surrounded by prospective Selkirk First Nation Category A lands.

Selkirk Copper is listed on the TSX Venture Exchange under the symbol SCMI and has a secondary listing on the Frankfurt exchange under the symbol FRA:IO20, and its common shares trade under the symbol SKRKF on the OTCQB Venture Market, a U.S. marketplace operated by OTC Markets Group Inc.

We seek Safe Harbor.