Mr. Colin Joudrie reports

SELKIRK COPPER ANNOUNCES CLOSING OF THE SELKIRK FIRST NATION INVESTMENT

Selkirk Copper Mines Inc. has closed a further investment by Selkirk First Nation for aggregate gross proceeds of $500,250 pursuant to a private placement of 435,000 common shares to 843094 Yukon Inc., a corporation wholly owned by Selkirk First Nation, at a price of $1.15 per common share. The investment was completed in connection with the exercise of Selkirk First Nation's pro rata participation right under its existing agreement with the company.

The company intends to use the proceeds from the Selkirk First Nation investment to advance development of the company's Minto copper-gold-silver project, as well as for working capital and general corporate purposes.

The common shares issued pursuant to the Selkirk First Nation investment were issued on a private placement basis and are subject to a statutory hold period of four months and one day from the date of closing in accordance with applicable securities laws.

Selkirk First Nation is considered an insider of the company under applicable securities laws, and as such the Selkirk First Nation investment is considered a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the aggregate participation of the insiders in the First Nation investment does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report more than 21 days before the expected closing of the First Nation investment because the exercise by Selkirk First Nation of its pro rata participation right was not known until shortly prior to closing of the First Nation investment and the parties wished to close on an expedited basis for business reasons.

Early warning disclosure

In connection with the Selkirk First Nation investment, 843094 Yukon, a wholly owned subsidiary of Selkirk First Nation, acquired 435,000 common shares at a price of $1.15 per share for aggregate consideration of $500,250.

Upon completion of the Selkirk First Nation investment, and after closing of the company's bought deal private placement completed as disclosed in the company's news release dated April 30, 2026, 843094 Yukon owns 28,558,374 common shares and 1,562,500 common share purchase warrants, representing approximately 18.16 per cent of the issued and outstanding common shares on a non-diluted basis (or 18.97 per cent on a partially diluted basis). This represents a decrease of approximately 4.09 per cent of the issued and outstanding common shares (or 4.24 per cent on a partially diluted basis) since the date of the 843094 Yukon's last early warning report.

Selkirk First Nation, through 843094 Yukon, acquired the common shares for investment purposes and, may in the future acquire or dispose of securities of the company, through the market, privately or otherwise, as circumstances or market conditions warrant. A copy of the early warning report filed by 843094 Yukon is available under the company's profile on SEDAR+, or by contacting the company.

About Selkirk First Nation

Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280 kilometres north of Whitehorse. They are a self-governing first nation, having signed its final and self-government agreements in 1997. The Selkirk First Nation owns 4,740 square kilometres of settlement land, including 2,408 square kilometres where the Selkirk First Nation owns both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in the Yukon. The Selkirk First Nation, indirectly, holds a controlling equity stake in Selkirk Copper.

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, that, 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, 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 powerline is located on or adjacent to lands of the Selkirk First Nation, much of which is surrounded by prospective Selkirk First Nation Category A lands.

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

We seek Safe Harbor.