Mr. Sam Spring reports

KINCORA PROVIDES UPDATE ON PRIVATE PLACEMENT AND CONSOLIDATION

Kincora Copper Ltd. has provided an update on the previously announced private non-brokered placement of units and the previously announced 1:10 consolidation of its common shares.

The previously announced offering of $4-million in units of the company is fully subscribed. Following requisite shareholder approvals at the Aug. 27, 2025, annual general and special meeting, Kincora intends to close the offering shortly after the completion of the consolidation.

The company's board of directors has determined to implement the consolidation effective on Sept. 4, 2025, subject to the receipt of all necessary regulatory and exchange approvals. No fractional postconsolidation common shares or postconsolidation common shares represented by CHESS depositary interests (CDIs) will be issued in connection with the consolidation. Any fractional consolidated shares or consolidated CDIs arising from the consolidation will be rounded to the nearest whole number, provided that a holder of one or more securities in a class of securities will hold not less than one security in that class following the consolidation.

Upon completion of the consolidation, the consolidated shares will continue to trade on the TSX Venture Exchange under the stock symbol KCC under a new Cusip number (49451A 70 2) and a new ISIN (CA 49451A 70 2 4), and the consolidated CDIs will continue to trade on the Australian Securities Exchange under the symbol KCC. The consolidated shares are expected to commence trading on the TSX Venture Exchange at market open on or about Sept. 4, 2025. As a result of the consolidation, the number of common shares issuable upon the exercise of outstanding warrants, stock options and other convertible securities will be reduced on a 1:10 basis, and their exercise prices will be increased on a 1:10 basis.

Registered shareholders of the company will receive a letter of transmittal from the company's transfer agent, Computershare Ltd., providing instructions for the exchange of their preconsolidation common shares and preconsolidation common shares represented by CDIs as soon as practicable following the effective date. The letter of transmittal will contain instructions on how to surrender to the transfer agent the certificate (or certificates) representing the preconsolidation common shares and preconsolidation CDIs. The transfer agent will send to each registered shareholder who follows the instructions provided in the letter of transmittal a new share certificate representing the number of postconsolidation common shares and preconsolidation CDIs to which the shareholder is entitled to, alternatively, a DRS advice/statement representing the number of postconsolidation common shares and preconsolidation CDIs the shareholder is entitled to following the consolidation. No action is required by beneficial shareholders of the company to receive consolidated shares or consolidated CDIs in connection with the consolidation. Beneficial shareholders who hold their preconsolidation common shares or preconsolidation CDIs through intermediaries (a broker, bank, trust company investment dealer or other financial institution), and who have questions regarding how their common shares or CDIs will be processed in connection with the consolidation should contact their intermediaries.

Registered optionholders of the company will receive an updated issuer sponsored holding statement and exercise of options notice (form) from the company's transfer agent, Computershare, as soon as practicable following the effective date.

As of the date of this news release, the company has 291,720,904 common shares issued and outstanding (including 235,479,088 CDIs). Following completion of the consolidation on the effective date, the company is expected to have approximately 29,172,090 consolidated shares issued and outstanding (including 23,547,908 consolidated CDIs), subject to rounding of fractional consolidated shares and consolidated CDIs. Postclosing of the offering, noting a 12-month hold period, the company is anticipated to have common shares issued and outstanding of 42,505,424 (including 23,547,908 consolidated CDIs), subject to rounding of fractional consolidated shares and consolidated CDIs.

Further details regarding the consolidation are contained in the company's management information circular dated July 18, 2025, which is available on SEDAR+ under the company's profile.

About Kincora Copper Ltd.

Kincora is an emerging Australia-focused copper-gold explorer with a hybrid project generator strategy. The company is now successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill-ready targets. These assets are located in Australia's Macquarie Arc and Mongolia's Southern Gobi, two of the globe's leading porphyry belts, and the historical Condobolin mining field within the Cobar superbasin in New South Wales.

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