Mr. Heye Daun reports

KORYX COPPER ANNOUNCES PLANNED CONTINUATION TO LUXEMBOURG

Koryx Copper Inc. intends to change its corporate domicile from the Province of British Columbia, Canada, to the Grand Duchy of Luxembourg under a new name, Koryx Copper SA. The continuation is expected to be effective as of Oct. 16, 2025, and is subject to shareholder and stock exchange approvals. The company's common shares are expected to continue trading on the TSX Venture Exchange and Namibian Securities Exchange under their current trading symbols, which avoids any disruption related to changing the listing to other capital markets. The company will remain a Canadian reporting issuer and be subject to applicable Namibian securities laws.

Following a comprehensive review of strategic alternatives, the company has determined that the continuation will better align the company's legal and corporate structure with its operational footprint and financing strategy. The move is expected to provide expanded strategic flexibility, enhanced access to international markets and a favourable environment for future investment while continuing to support the interests of the company's shareholders.

Upon completion of the continuation, the company will cease to be governed by the Business Corporations Act (British Columbia) and will become a Luxembourg public limited company (societe anonyme), registered under the Luxembourg law of Aug. 10, 1915, on commercial companies. The company also anticipates changing its name from Koryx Copper Inc. to Koryx Copper SA, subject to name availability with the Luxembourg Trade and Companies Register. The continuation will not affect the continuity of the company's business or operations or its ownership of assets.

The continuation is subject to the approval of the company's shareholders and the TSX-V. The company intends to call a special meeting of shareholders on Oct. 15, 2025, to consider the continuation and ancillary matters. Further details regarding the continuation and the time and location of the special meeting of shareholders will be provided in a management information circular to be filed on SEDAR+ and mailed to shareholders ahead of the special meeting.

Norton Rose Fulbright Canada LLP is acting as legal counsel to the company in connection with the continuation.

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. 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 million tonnes of contained copper in the indicated category and 345 million tonnes at 0.33 per cent copper for 1,136 million 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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