Mr. James Hedalen reports

KOBREA PROVIDES UPDATE ON DRILL PROGRAM AT EL PERDIDO PORPHYRY COPPER-GOLD-MOLYBDENUM SYSTEM - MENDOZA PROVINCE, ARGENTINA

Kobrea Exploration Corp. has provided an update on continuing drilling activities at El Perdido. Kobrea holds the right to earn a 100-per-cent interest in seven projects totalling 733 square kilometres in southwestern Mendoza province, Argentina (see the company's Aug. 19, 2024, news release for details).

The initial three diamond drill holes at the El Perdido porphyry copper-gold-molybdenum prospect had target depths of 500 metres each. Drill holes DD26ELP001, DD26ELP002 and DD26ELP003 were drilled to depths of 603 metres, 474 metres and 662 metres, respectively. Drill hole DD26ELP004 had a target depth of 600 metres but was abandoned at a depth of 200 metres due to technical complications related to unstable rock conditions associated with a significant fault zone. All core samples from drill holes DD26ELP001 through DD26ELP004 have been shipped to Alex Stewart International's laboratory in Mendoza City and the company is awaiting analytical results.

"Despite complications associated with the drilling of hole DD26ELP004, drilling continues at the El Perdido porphyry system," stated James Hedalen, chief executive officer. "We have intersected a copper-bearing porphyry system in the first regional target tested. We intend to drill as much as we can before the winter season sets in."

Drill hole DD26ELP004 drilled through 128 metres of leached intrusive rock before intersecting intermittent chalcocite enrichment coating, and in cases, replacing primary sulphides comprising dominantly pyrite with lesser chalcopyrite. Chalcocite enrichment was observed to 168 metres where a large gougy to rubbly fault zone persisted until 200 metres where the hole was abandoned.

"The presence of chalcocite as observed in drill hole DD26ELP004 confirms the presence of a chalcocite enrichment zone preserved at El Perdido," comments Rory Ritchie, vice-president of exploration. "Given the degree of leaching in the upper portions of the system, that was originally hypothesized but not certain. Drill hole DD26ELP004 has confirmed our target model. As we continue in the early phases of a diamond drilling program, with the goal of qualifying the porphyry system at El Perdido, we are confident we will observe chalcocite in other areas, beneath the leached capping, enriching hypogene sulphide mineralization beneath."

Furthermore, the company is pleased to announce it has engaged Major Drilling Argentina (Major) to finish the 2026 drilling program. Major commenced drill hole DD26ELP005 on April 1, 2026, at drill pad No. 2 to complete the original objective of drill hole DD26ELP004. Drill hole DD26ELP004 was designed to extend a mineralized zone encountered in drill hole DD26ELP001 to depth. This zone comprised strong pyrite-chalcopyrite-molybdenite stockwork veining within potassically altered early mineral quartz diorite porphyry. In addition, crews have commenced the construction of a third drill pad which will facilitate additional drilling, providing the ability to test the southwestern portion of the El Perdido porphyry system.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Rory Ritchie, PGeo, vice-president of exploration and director of Kobrea, and a qualified person under National Instrument 43-101.

About Kobrea Exploration Corp.

Kobrea Exploration is a mineral exploration and development company focused on the acquisition and exploration of base metal projects. Kobrea holds the right to earn a 100-per-cent interest in seven projects totalling over 733 square kilometres in southwestern Mendoza province, Argentina (see the company's Aug. 19, 2024, news release for details). The properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper targets have been outlined to date exhibiting multikilometre hydrothermal alteration footprints, anomalous copper plus or minus gold plus or minus molybdenum geochemistry, quartz stockwork veining, localized hydrothermal breccias and Miocene aged dacitic to dioritic porphyry intrusions. Kobrea also holds a 100-per-cent interest in the Upland copper project in British Columbia, Canada.

We seek Safe Harbor.