Mr. Heye Daun reports

KORYX COPPER ANNOUNCES CLOSING OF $46 MILLION BOUGHT DEAL FINANCING AND CONCURRENT $5 MILLION NAMIBIAN NON-BROKERED PRIVATE PLACEMENT

Koryx Copper Inc. has closed its previously announced bought deal private placement offering of an aggregate 18,776,050 common shares of the company at a price of $2.45 per common share for aggregate gross proceeds to the company of $46,001,323, inclusive of the exercise in full of the option granted to the underwriters (defined herein).

The offering was led by Stifel Canada, as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that includes Beacon Securities Ltd., Haywood Securities Inc., Research Capital Corp., Red Cloud Securities Inc., Canaccord Genuity Corp. and BMO Capital Markets.

The company has arranged a strategic non-brokered private placement offering to predominantly Namibian institutional and retail investors of up to 2,040,816 common shares at a price of $2.45 per common share for gross proceeds of $5-million. The company will use the net proceeds of the placement for mineral exploration expenses, working capital and general corporate purposes. The company may pay finders' fees in connection with the placement, consisting of a 3-per-cent cash commission of the gross proceeds of the placement.

Heye Daun, Koryx Copper's president and chief executive officer, commented:

"We are delighted with the very strong demand which we received from a range of highly respected international investors, which rendered this financing so significantly oversubscribed. We are particularly pleased with the strong interest received from various institutional, high-net-worth and general retail investors from Namibia. We consider it as strategically important to continue to grow our Namibian ownership base, which is why we facilitated this additional Namibian sidecar financing in addition to the Canadian bought deal."

The common shares issued under the offering were offered for sale to purchasers resident in each of the provinces and territories of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the listed issuer Financing Exemption. As the offering was completed pursuant to the listed issuer financing exemption, the common shares issued pursuant to the offering are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The common shares were also offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and in those jurisdictions outside of Canada and the United States as agreed to by the company and the underwriters, in each case in accordance with all applicable laws, and provided that no prospectus, registration or other similar document is required to be filed in those jurisdictions.

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

In connection with the offering, the underwriters were paid a cash commission equal to 6 per cent of the gross proceeds of the offering (subject to a reduction to 2.5 per cent on certain sales to president's list purchasers) and 563,281 compensation warrants of the company equal to 3 per cetn of the number of common shares sold under the offering. Each compensation warrant entitles the holder thereof to acquire a common share at a price equal to the issue price until Jan. 20, 2028.

The offering remains subject to the final approval of the TSX Venture Exchange.

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 while also building a portfolio of copper exploration licences in Zambia. 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 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 511 million tonnes at 0.33 per cent copper (Cu) and 51 parts per million (ppm) molybdenum (Mo) for 1,668,000 tonnes of contained copper and 25,900 tonnes contained Mo in the indicated category, and 308.9 million tonnes at 0.31 per cent Cu and 40 ppm Mo for 949 million tonnes of contained copper and 12,400 tonnes contained Mo in the inferred category (cut-off of 0.15 per cent Cu).

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, "Preliminary Economic Assessment of the Haib Copper Project, Namibia, National Instrument 43-101 Technical Report," dated effective Oct. 8, 2025. The technical report and other information is available on the company's website and under the company's profile on SEDAR+.

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