Mr. Heye Daun reports

KORYX COPPER ANNOUNCES MAIDEN DRILL PROGRAM ON ZAMBIA PROJECTS AND AGREEMENT TO INCREASE OWNERSHIP TO 80%

Koryx Copper SA has entered into an amended and restated option agreement with World Class Mineral Ventures Ltd. (WCMV). Pursuant to the amended and restated option agreement, Koryx, through its wholly owned subsidiary, Koryx Copper Mauritius, will increase its ownership interest in Koryx Copper Zambia Ltd. (KCZ) from 51 per cent to 80 per cent. KCZ holds 100 per cent of two large-scale exploration licences at the Luanshya West project (LEL 23246) and the Mpongwe project (LEL 23248), located in the Zambian Copperbelt.

Highlights:

• Maiden 2,500-metre diamond drill program at Luanshya West scheduled to commence during the week of Sept. 21, with completion expected by end of year;
• Drilling will test up to four priority targets, targeting vertical depths of 100 to 250 metres;
• Further exploration under way at Mpongwe to refine existing and new targets, with approximately 3,000 soil samples planned to be collected by end of year;
• Agreement to increase Koryx's ownership from 51 per cent to 80 per cent, with no remaining contractual expenditure commitments to complete earn-in.

Heye Daun, Koryx Copper's president and chief executive officer, commented: "While the Haib project in Namibia remains our primary focus, our Zambian exploration programs have made significant progress since Koryx's management transition. Detailed magnetic surveying, soil sampling and pitting at Luanshya West have helped identify and prioritize four targets, which we will begin drilling this month, while regional sampling and our reassessment of exploration data at Mpongwe have confirmed new targets for infill sampling to be completed later this year.

"We continue to be encouraged by the exploration progress and resource potential in Zambia and have therefore decided to accelerate our ownership in Koryx Copper Zambia Ltd., which holds both Luanshya West and Mpongwe. This gives us greater flexibility to assess our strategic options to monetize the Zambian projects while continuing to retain our operational and financial emphasis on the advancement of Haib."

Amended and restated option agreement

The amended and restated option agreement amends and restates Koryx's 2022 earn-in agreement with WCMV. Under the initial agreement, Koryx could earn an interest of up to 80-per-cent in three large-scale exploration licences held by WCMV (LEL 23246, LEL 23247 and LEL 23248, collectively, the initial licences). Koryx had acquired a 51-per-cent interest in the initial licences by way of earn-in. Increasing Koryx's interest from 51 per cent to 80 per cent originally required a further $3-million (U.S.) in exploration expenditure over three years, with approximately $1.1-million (U.S.) spent to date, together with $90,000 (U.S.) in cash and additional share payments. The company had already relinquished LEL 23247, leaving Luanshya West and Mpongwe as the two projects covered by the amended agreement.

On closing, the amended and restated option agreement will increase Koryx's interest in these two projects to an effective 80 per cent, indirectly through its 80-per-cent ownership of KCZ, and eliminate the remaining contractual earn-in expenditure commitments. The aggregate consideration payable by Koryx at closing of the transaction is: (a) $200,000 (U.S.) in cash; and (b) 80,000 common shares in the capital of Koryx at a deemed price of $3.50 (Canadian) per common share, subject to any adjustment required by the TSX Venture Exchange. The amended agreement also provides a conditional right for Koryx to acquire the remaining 20-per-cent interest for $400,000 (U.S.) if WCMV elects not to contribute its share of future project financing.

The transaction constitutes an expedited acquisition in accordance with exchange policies. The common shares issuable under the amended and restated option agreement will be subject to a hold period of four months and one day pursuant to Canadian securities laws. Closing of the transaction is subject to customary closing conditions, including acceptance by the exchange, and is expected to occur no later than the outside date of Sept. 30, 2026. No finders' fees are payable.

Zambia projects -- exploration update

The company is pleased to provide an update on exploration activities in Zambia, where fieldwork has commenced on both the Luanshya West (licence 23246-HQ-LEL) and Mpongwe (23248-HQ-LEL) projects.

At Luanshya West, an initial diamond drill program will commence before the end of September, 2026, aimed at testing three or four targets with 2,500 metres of drilling. Drill holes will be inclined and test surface geochemistry anomalies, induced polarization (IP) chargeability and resistivity features and structural targets to a vertical depth of 100 m to 250 m. The drill program is expected to be completed by mid-December this year.

At the Mpongwe project, follow-up and infill soil sampling will be completed on targets identified during 2025 sampling programs (at Lwabufubu, MP1 and MP2 targets) and regional soil sampling will be completed in the western parts of the licence that could not be sampled in 2025. The sampling is expected to be completed in early November and will total about 3,000 samples. Results and possible early onset of the rainy season will determine whether follow-up shallow drilling will be carried out in late 2026 or be delayed until 2027.

Quality assurance/quality control

All drill core is HQ size at collar and reduced to NQ size in fresh rock. The core was all logged, photographed and cut in half with a diamond saw. Half of the core was bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa, for analysis (SANAS-accredited (South African National Accreditation System) testing laboratory, No. T0387) and ActLabs in Canada, while the other half was quartered, with one-quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. Thirty-three elements are analyzed by inductively coupled plasma (ICP) utilizing a four-acid digestion and gold is assayed for using a 30-gram fire assay method. Duplicate samples, blanks and certified standards are included with every batch and are actively used to ensure proper quality assurance/quality control (QA/QC). The QA/QC frequency is one in 20 for each of blanks, duplicates and standards.

Qualified person

Dean Richards, BSc (honours) geology, PrSciNat, MGSSA, is the qualified person for the Haib copper project and has reviewed and approved the scientific and technical information in this news release and is a registered professional natural scientist with the South African Council for Natural Scientific Professions (PrSciNat No. 400190/08). Mr. Richards is independent of the company and its mineral properties and is a qualified Person for the purposes of National Instrument 43-101.

About Koryx Copper SA

Koryx Copper is a Luxembourg-domiciled copper development company focused on advancing its 100-per-cent-owned Haib copper project in Namibia whilst also building a portfolio of copper exploration licences in Zambia. Haib is a large copper porphyry deposit in southern Namibia with significant gold and molybdenum credits and a long history of exploration and project development by multiple operators.

More than 155,000 metres of drilling have been conducted at Haib since the 1970s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975), Teck (2014) and Koryx Copper (2021 to 2026). Extensive further drilling, metallurgical testing and various technical studies have been completed at Haib. Additional studies are under way aiming to demonstrate Haib as a future long-life, low-cost, low-risk open-pit, sulphide milling and flotation copper project with additional heap-leach potential.

Mineralization at Haib is typical of a porphyry copper deposit and is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Haib is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world. 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.

Further details of the Haib copper project are available in the technical report titled "March, 2026, Mineral Resource Estimate, Haib Copper Project, Namibia, National Instrument 43-101 Technical Report," dated effective March 16, 2026. The report and other information are available on the company's website and under the company's profile on SEDAR+.

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