Mr. Sam Spring reports

KINCORA AWARDED DRILLING GRANT FOR WONGARBON PROJECT

Kincora Copper Ltd. has been awarded a $143,484 (Australian) co-funding grant for a drilling and the first-ever hole to basement geology at the Wongarbon project.

Sam Spring, president and chief executive officer, and Cameron McRae, chairman of Kincora, commented:

"Kincora only secured the Wongarbon project directly from the state mid-last year. Since, we have formed an innovative multiphase partnership agreement with Fleet Space Technologies supporting cutting-edge multiphysics, with maiden drilling to shortly commence following this non-dilutive grant. The grants to 18 explorers, including 11 drilling programs, follows a competitive expert panel review process of applications, which were in very high demand.

"We would like to thank the NSW government for the direct financial support to Kincora and the wider industry via the critical minerals strategy 2024-2035. These programs provide a strong pro-investment and pro-exploration to mining message to all stakeholders.

"As indicated by recent U.S. government policy, copper is one of, if not the most critical of, the critical minerals due to its essential role in the energy transition and national security, and essential role in industrial production and the wider economy.

"Recent discoveries in both the Macquarie arc and Cobar basin highlight the significant potential for further new globally significant copper and other critical mineral projects within NSW's Lachlan fold belt."

About the critical minerals and high-tech metals exploration program

The New South Wales (NSW) government established the critical minerals and high-tech metals exploration program (CMEP) to support the long-term sustainability of the state's resource sector and promote exploration through a co-investment grant model.

The CMEP is a pillar of the critical minerals strategy 2024-2035, which aims to position NSW as a leader in critical minerals and high-tech metals, generating economic prosperity through exploration, mining, processing, recycling and advanced manufacturing.

The $2.5-million program supports various stages of exploration activities on a co-funded, 50-per-cent basis over the next two years. Six exploration geochemistry, 12 exploration geophysical and 11 drilling grants were awarded to 18 explorers. Twenty-one of the 29 grants were focused on copper exploration.

The CMEP was a highly competitive process with an experienced panel made up of government and independent geoscientists assessing applications. Awards were focused supporting creditable explorers and exploration programs that demonstrate strong prospectivity, technical basis and value for money, and, in particular, focused on testing new geological ideas and models in greenfield and near mine site areas.

CMEP is being delivered by NSW Resources, Department of Primary Industries and Regional Development, and is funded from the Minerals and Petroleum Investment Fund.

About Kincora Copper Ltd.

Kincora Copper is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The company is 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 Lachlan fold belt and Mongolia's Southern Gobi, two of the globe's leading porphyry belts, and the historical Condobolin mining field within the Cobar basin in NSW.

The company has already unlocked over $100-million of potential partner financing for multiple earlier-stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of drilling and over $6.5-million (Australian) of partner-financed exploration since late 2024, with management fees and exploration ramping up.

Partner discussions are continuing for its remaining 100-per-cent-owned flagship projects that are all situated within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.

By having a significant portfolio of partner-financed large porphyry projects and a very focused program on a 100-per-cent-owned Condobolin project, the company is seeking to position Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the leading project generator on the Australian Securities Exchange.

Qualified person

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum, and National Instrument 43-101, Standards of Disclosure for Mineral Projects, and was reviewed, verified and compiled by Kincora's staff under the supervision of Peter Leaman (MSc, mineral exploration, FAusIMM), senior vice-president of exploration of Kincora, and John Holliday (BSc (honours), BEc, member of the Australian Institute of Geoscientists), non-executive director and chairman of Kincora's technical committee, who are qualified persons for the purpose of NI 43-101.

JORC competent person statement

Information in this news release that relates to exploration results, mineral resources or ore reserves are those that have been previously reported (with the original release referred to in this news release); in the case of mineral resources or ore reserves, the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by Mr. Holliday and Mr. Leaman, who are competent persons under the definition established by JORC, and have sufficient experience that is relevant to the style of mineralization and type of deposit under consideration, and to the activity being undertaking to qualify as competent persons as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Holliday and Mr. Leaman consent to the inclusion in this news release of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan projects have included the receipt of all material exploration data, results and sampling procedures of previous operators, and review of such information by Kincora's geological staff using standard verification procedures.

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