Mr. Lowell Kamin reports

ALTHEA COPPER CORP. COMPLETES ACQUISITION OF 100% INTEREST IN THE MINK NARROWS COPPER-ZINC PROPERTY, MANITOBA

Althea Copper Corp. has exercised its option to acquire a 100-per-cent interest in the Mink Narrows property located approximately 25 kilometres southeast of Flin Flon, Man., pursuant to the mineral property option agreement dated Oct. 1, 2024, with Voyageur Mineral Explorers Corp. (now Evolve Royalties Ltd.).

Terms of the acquisition

To complete the final option payment due on the second anniversary of the option agreement, the company issued 1.25 million common shares to Evolve at a deemed price of 12 cents per share (the closing price on Sept. 30, 2026), representing $150,000. The shares are subject to a statutory hold period expiring Feb. 2, 2027.

On exercise of the option, the company granted Evolve a 2-per-cent net smelter return royalty on the property. The company may purchase one-half of the royalty (1 per cent) for $1-million. The company will now file the claim transfer documents with the Province of Manitoba.

Following the issuance, the company has 22,249,999 common shares issued and outstanding.

"We are very pleased to have completed our CSE [Canadian Securities Exchange] listing in August, and securing 100-per-cent ownership of Mink Narrows is the next important milestone for Althea," said Lowell Kamin, president and chief executive officer. "We now own outright a historically drilled copper-zinc system in one of Canada's most productive base metal districts. Our technical team is focused on turning decades of historical work and our 2024 geophysics into a modern, testable geological model and a disciplined exploration program. As a publicly traded company, our focus is advancing Mink Narrows while remaining open to opportunities that can create additional value for our shareholders."

The Mink Narrows property

The property covers approximately 6,984 hectares within the Flin Flon-Snow Lake greenstone belt. It hosts the historical Copper Reef deposit, a volcanogenic massive sulphide (VMS) copper-zinc system first explored in the 1920s and later investigated by operators including Falconbridge and Hudson Bay Mining & Smelting.

A 1969 historical estimate at Copper Reef outlined approximately 500,000 tons grading approximately 1.5 per cent copper and 0.5 per cent zinc (see historical estimate below). Approximately 26 holes totalling more than 4,000 metres have been reported at Copper Reef since 2000, with mineralization intersected at up to 500 metres vertical depth.

In 2024, a property-wide Xcite time-domain electromagnetic (TDEM) and magnetic survey totalling more than 1,200 line kilometres at 100-metre line spacing identified a conductive trend more than 15 kilometres long with multiple untested targets. Copper Reef occupies a small (less than 500 metres) portion of that trend. Because VMS deposits commonly occur in clusters, the company believes the trend warrants systematic testing.

Next steps

The company's technical team (Doug Engdahl, PGeo, chairman; Leo Horn, technical director; and Ryan Versloot, PGeo, qualified person) is currently:

• Validating and digitizing the historical drill database;
• Building an integrated 3-D geological and geophysical model;
• Planning drill holes for resource delineation at Copper Reef;
• Ranking exploration targets along the conductive trend and broader land package.

The program will be designed to confirm and extend the known mineralization and, with sufficient drilling, support a future National Instrument 43-101-compliant mineral resource estimate. The company expects to announce the scope, budget and timing of its next exploration program once this work is complete.

Regional setting

The Flin Flon-Snow Lake belt continues to support active mining and new development. Hudbay Minerals Inc. operates the Lalor polymetallic mine at Snow Lake. On the Saskatchewan side of the belt, McIlvenna Bay reported its first copper concentrate in June, 2026, following Eldorado Gold Corp.'s acquisition of Foran Mining Corp.

Mineralization on these or other nearby properties is not necessarily indicative of mineralization on the property.

Historical estimate

In a report dated Nov. 14, 1969, Falconbridge Nickel Mines Ltd. reported inferred tonnage of 120,345 tons at 1.54 per cent copper and 0.60 per cent zinc and indicated tonnage of 383,089 tons at 1.49 per cent copper and 0.47 per cent zinc (total 503,434 tons at 1.50 per cent copper and 0.50 per cent zinc) for the Copper Reef sulphide deposit. These terms predate and do not correspond to current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definitions. The estimate used a 1-per-cent-copper cut-off, a six-foot minimum true width, end-area volumes on a longitudinal projection and a tonnage factor of 8.5 cubic feet per ton.

A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The company is not treating it as a current mineral resource, and it should not be relied upon. Verification and confirmation drilling, relogging and reassaying, and a new estimate would be required to upgrade or verify the historical estimate as a current mineral resource. The company believes the historical resource estimate is relevant to continuing exploration activities on the Mink Narrows property.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Ryan Versloot, PGeo, exploration manager at Axiom Exploration Group Ltd. and a qualified person as defined in NI 43-101, Standards of Disclosure for Mineral Projects. Mr. Versloot is independent of the company.

About Althea Copper Corp.

Althea Copper is a Canadian copper exploration company listed on the Canadian Securities Exchange under the symbol ALTH. Its flagship asset is the 100-per-cent-owned Mink Narrows copper-zinc property near Flin Flon, Man.

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