Mr. Heye Daun reports

KORYX COPPER ANNOUNCES UPSIZE OF BOUGHT DEAL PUBLIC OFFERING TO $17 MILLION

Koryx Copper Inc. has entered into an amended agreement with Stifel Nicolaus Canada Inc. to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, to increase the size of its previously announced bought deal public offering, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 16,563,200 common shares of the company at a price of $1.05 per offered share for aggregate gross proceeds to the company of $17,391,360.

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 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 entitle 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 copper belt. Haib is a large, advanced (PEA-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 has 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 underway 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 Mt (million tonnes) at 0.35 per cent Cu (copper) for 1,459 Mt of contained copper in the indicated category and 345 Mt at 0.33 per cent Cu for 1,136 Mt of contained copper in the inferred category (0.25 per cent Cu 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.

We seek Safe Harbor.