Mr. Heye Daun reports

KORYX COPPER ANNOUNCES $10 MILLION BOUGHT DEAL PUBLIC OFFERING

Koryx Copper Inc. has entered into an agreement with Stifel Nicolaus Canada Inc. to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 9,524,000 common shares of the company at a price of $1.05 per offered share for aggregate gross proceeds to the company of $10,000,200.

The company has granted the underwriters an option, exercisable in whole or in part at any time and from time to time for up to 30 days following the closing date (as defined below), to purchase up to an additional number of offered shares equal to 15 per cent of the number of offered shares sold pursuant to the offering at a price per additional share equal to the issue price to cover overallotments, if any, and for market stabilization purposes.

The company intends to use the net proceeds to advance technical studies on the Haib copper project and continue exploration on the property, working capital and general corporate purposes.

The offered shares will be offered by way of a short-form prospectus to be filed in all provinces and territories of Canada, except Quebec. The offered shares will also be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus, registration or other similar document is required to be filed in those jurisdictions.

The offering is expected to close on or about July 30, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange.

A cash commission of up to 6 per cent on the gross proceeds of the offering and compensation warrants equal to up to 3 per cent of the number of common shares of the company sold under the offering shall be paid to the underwriters, subject to the policies of the exchange and applicable securities laws. Each compensation warrant entitles the holder to acquire a common share of the company at a price equal to the issue price for a period of 24 months from the date of issue thereof.

About Koryx Copper Inc.

Koryx Copper is a Canadian copper development company focused on advancing the 100-per-cent-owned Haib copper project in Namibia whilst also progressing its two copper exploration licences on the Zambian Copperbelt. Haib is a large, advanced (preliminary-economic-assessment-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000 metres of drilling have been conducted at Haib since the 1970s, with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date.

Additional studies are under way aiming to demonstrate Haib as a future long-life, low-cost, low-risk, open-pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414 million tonnes at 0.35 per cent copper for 1,459,000 tonnes of contained copper in the indicated category and 345,000 tonnes at 0.33 per cent copper for 1,136,000 tonnes of contained copper in the inferred category (0.25-per-cent-copper cut-off).

Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment.

Further details of the Haib copper project are available in the corresponding technical report titled "NI 43-101 Technical Report -- August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia," dated effective Aug. 31, 2024. The technical report and other information are available on the company's website and under the company's profile on SEDAR+.

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