Mr. James Hedalen reports

KOBREA CONFIRMS COPPER-GOLD-MOLYBDENUM PORPHYRY SYSTEM IN INITIAL DRILL PROGRAM AT THE EL PERDIDO PROJECT - MENDOZA PROVINCE, ARGENTINA

Kobrea Exploration Corp. has completed its phase 1 diamond drill program at the El Perdido porphyry copper-gold-molybdenum system in Mendoza, Argentina. A total of 2,358 metres were drilled across six holes, confirming the presence of a large hydrothermal porphyry system with copper, gold, molybdenum and silver mineralization. Geological observations from drilling indicate the porphyry system strengthens at depth, with increased intensity of alteration, veining and sulphide assemblages. The core of the system remains untested.

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). Multiple kilometre-scale porphyry targets across the seven projects have been worked up this season in preparation for drilling. El Perdido is the only target with an initial drill test and additional drilling is warranted.

Highlights:

• First-ever drilling confirms a large copper-gold-molybdenum porphyry system;
• Six diamond drill holes totalling 2,358 metres were completed during the 2026 phase 1 program;
• Drilling intersected widespread porphyry-style mineralization, quartz-stockwork veining and localized potassic alteration;
• Three drill holes with copper mineralization stopped short at shallow depth in a fault system;
• Alternative drill equipment and techniques are being sourced to address this issue;
• Geological observations suggest the core of the porphyry system remains at depth and untested;
• Only a portion of the two-kilometre-by-two-kilometre target area was drill tested during the inaugural campaign.

"This first-ever drill program at El Perdido has confirmed a large, mineralized porphyry system. The copper, gold and molybdenum grades intersected to date are consistent with the margins and upper levels of a porphyry system," commented James Hedalen, chief executive officer. "Alteration, veining and sulphide intensity increase with depth, pointing toward a potassic core below the levels reached this season. We look forward to drilling deeper into the core of this system in phase 2 as well as initial drill tests of other targets in the portfolio."

El Perdido phase 1 drilling

The 2026 drilling program at El Perdido represents the first drilling campaign undertaken on any of the Western Malargue copper projects and only the third drilling program in the entire Western Malargue copper district. Road construction began in early November, 2025, and, along with construction of an exploration camp, was completed in early January, 2026. Drilling was completed between Jan. 18, 2026, and April 22, 2026. The diligence and enthusiasm shown by the personnel and people in the government of Mendoza, the district of Malargue and the city of Malargue has reassured the company that future exploration programs will be carried out in a similar manner. The company plans to complete additional drilling at the El Perdido porphyry system in the coming exploration season.

Six diamond drill holes totalling 2,358 metres were drilled at El Perdido in 2026. Only a portion of the two-kilometre-by-two-kilometre system was tested, with drilling intersecting copper mineralization associated with localized high-temperature alteration and quartz-stockwork vein networks and as incipient supergene mineralization replacing a pyrite-dominated, pyrite-chalcopyrite sulphide assemblage. The spatial distribution of hydrothermal alterations assemblages, sulphide species and porphyritic intrusions of varying ages suggests the core of the porphyry system is at depth, beneath the depths reached over the course of the 2026 diamond drilling campaign. Due to difficult drilling conditions, only three of the 6 drill holes reached target depths.

Quality assurance/quality control procedures

Logging and sampling of drill core from the 2026 El Perdido drilling program were performed by Kobrea geologists. Observations relating to lithology, alteration, mineralization and veining were recorded into a core logging software, before samples were demarked and cut lines drawn for subsequent cutting and sampling of drill core were completed. Certified reference materials, including copper-molybdenum-gold standards and blank materials, were inserted into the sample stream at a rate of one in 10 samples. Samples were placed into polyethylene bags, along with a unique sample identifier, and sampling information was recorded in the logging software. Sealed sample bags were transported to Alex Stewart International in Mendoza, Argentina, where samples were weighed, dried, crushed and pulverized in preparation for analysis. All samples were analyzed using analytical package ICP-MA-39, whereby 0.2-gram aliquots were subjected to a four-acid digest and concentrations of 39 different elements were resolved with an inductively coupled plasma optical emission spectroscopy (ICP-OES) finish. All samples were also analyzed for gold concentration, whereby 30-gram aliquots were subjected to fire assay analysis utilizing an atomic absorption spectroscopy (AAS) finish. Samples overlimit in copper (greater than 10,000 parts per million) during the ICP-MA-39 analysis were reanalyzed with ICP-ORE analysis, whereby 0.2-gram aliquots were dissolved in 100 millilitres of a mixture of highly oxidizing acids and results for 19 elements were determined by ICP-OES analysis with a higher limit of detection.

Upon reception by the company, analytical results were reviewed for precision and accuracy by analyzing the results of analysis of certified reference materials and ensuring standards were within two standard deviations of the expected result and by assuring blanks were not indicating any contamination of laboratory sample preparation equipment sample to sample.

Additional quality control/quality assurance procedures, including blank and standard insertion and analysis, were performed internally by Alex Stewart International Argentina in Mendoza, Argentina, an accredited testing laboratory conforming with the requirements of ISO/IEC 17025:2017 that is independent of Kobrea.

Qualified person

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

About Kobrea Exploration Corp.

Kobrea 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.

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