Mr. Dan Weir reports

DRILLING TO START AT COYOTE COPPER'S ARIZONA COPPER PROJECT THE FIRST HALF OF NOVEMBER AND 97.7% OF THE ACCELERATED WARRANTS WERE EXERCISED

Coyote Copper Mines Inc. has signed a drilling contract to commence drilling in the first half of November.

Warrant acceleration

As of Oct. 15, 2026, at 4 p.m., the following warrants were exercised:

• 7,311,901 warrants with an exercise price of 15 cents from a financing that was completed in July and August of 2025;
• 10,622,351 warrants with an exercise price of 20 cents from a financing that was completed in January and February of 2026;
• 1,052,152 finders' warrants with an exercise price of 14 cents from a financing that was completed in January and February of 2026;
• The total amount received by the company from the exercising of the warrants was $3,368,556.63;
• 97.7 per cent of the warrants were exercised.

The money received from the warrant exercise will help finance the continuing and planned exploration program, and finance additional mining claims being staked and acquired.

Exploration update:

1. The previously announced geophysical programs will be completed shortly. Once completed and interpreted, the company shall release the results.
2. Soil and channel sampling continues, and results will be disseminated prior to drilling.
3. Drill roads and pads are being built, and all necessary permits are in hand.
4. Drilling will start in the first half of November. The drill slated for the company's program is finishing up another company's project, so the exact date for drilling to start is not known yet.

Dan Weir, chief executive officer of Coyote Copper, stated: "We are very excited to see the drilling begin in approximately 20 to 30 days. The geophysics programs are yielding great results. We completed a site visit at the end of November, which 35 people attended, including four geologists from major mining and fund companies and numerous investors. Having 97.75 per cent of the warrants exercised shows that our investors believe in the company and the work we are doing. I would like to acknowledge all the amazing work that our geologists and geophysical contractors are completing. The large mining companies that have visited the project have positively commented on the professional work."

Qualified person

Michael N. Feinstein, PhD, CPG, is a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects), and he has reviewed and approved the scientific and technical disclosure contained in this press release. Mr. Feinstein is independent of the company.

We seek Safe Harbor.