Mr. Heye Daun reports

KORYX COPPER ANNOUNCES CLOSING OF C$5 MILLION SIDECAR NAMIBIAN NON-BROKERED PRIVATE PLACEMENT FOR TOTAL FINANCING OF C$51 MILLION

Koryx Copper Inc. has closed its previously announced sidecar non-brokered private placement offering to predominantly Namibian institutional and retail investors, of an aggregate 2,040,816 common shares of the company at a price of $2.45 per common share for aggregate gross proceeds to the company of $5-million. The terms are consistent with the $46-million bought deal financing announced on Jan. 6, 2026, and closed on Jan. 20, 2026.

The company paid finders' fees of $150,000 to Cirrus Capital Pty. Ltd. in connection with the placement. The company intends to use the net proceeds of the placement to advance technical studies on the Haib copper project and continue exploration on the property, working capital, and general corporate purposes. All common shares issued under the placement will be subject to a hold period expiring four months and a day from the date of issuance.

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

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+.

We seek Safe Harbor.