Mr. Vincent Metcalfe reports

PECOY COPPER COMPLETES MAGNETOTELLURIC SURVEY TO OPTIMIZE HIGH-PRIORITY TARGETING AND RESOURCE EXPANSION

Pecoy Copper Corp. has completed a large-scale magnetotelluric (MT) geophysical survey at its 100-per-cent-owned Pecoy copper-gold-molybdenum-silver project located in southern Peru.

The MT survey was designed to optimize and prioritize high-potential expansion targets beneath cover and at depths exceeding 2,000 metres across the Pecoy system. The program is focused on enhancing the company's 3-D geological model, understanding of the project's alteration and structural architecture to support continuing drilling and broader target generation, particularly in areas interpreted to host concealed porphyry mineralization and extensions to known mineralized zones. This data-driven approach is designed to increase the precision of upcoming stepout drilling and potentially defining further high-grade mineralization.

Key strategic objectives

The MT survey covered approximately 760 hectares (2.75 kilometres by 2.75 kilometres) over the Pecoy system and included 85 MT stations designed to generate a high-resolution 3-D resistivity model.

• Derisk exploration: provide high-resolution resistivity data to assist in defining the geometry and continuity of known mineralized zones;
• Identify new targets: isolate potential porphyry centres and breccia-hosted mineralization hidden beneath postmineral cover and below the current resource pit shell or around known mineralized zones;
• Optimize capital allocation: integrate results with continuing phase 1 drilling and existing geochemical data sets to prioritize the most prospective areas within and around the known Pecoy deposit.

Final inversion and interpretation are expected during the second quarter of the 2026 calendar year, with results intended to inform stepout drilling and future exploration planning.

"Pecoy already hosts one of the largest undeveloped copper resources in Peru, yet the system remains open at depth and along strike, with multiple priority zones still underexplored," said Vincent Metcalfe, president and chief executive officer of Pecoy Copper. "The MT survey represents an important step in refining our understanding of the broader porphyry system and the controls on higher-grade mineralization. By integrating the results with our continuing drill program and geological reinterpretation, we aim to define concealed targets, prioritize follow-up drilling and continue to unlock the district-scale potential of Pecoy."

MT survey program

The Deep Spartan MT survey was completed by Quantec Geoscience and was designed to map subsurface resistivity variations to depths exceeding 2,000 metres below surface. In porphyry copper systems, MT surveys are an effective tool for imaging large-scale intrusive bodies, lithologies, hydrothermal alteration zones, structures and potential sulphide-bearing domains that may not be apparent from surface mapping or shallow drilling.

At Pecoy, the survey is expected to provide new information on the geometry and continuity of known mineralized zones, as well as the potential for additional porphyry centres and breccia-hosted mineralization beneath postmineral cover and below the current resource pit shell. The company expects the MT survey results to be particularly useful in refining drill targeting in the eastern, western and northwestern portions of the system, the deeper projection of the South breccia, and the broader centre of the Pit/Central breccia corridor.

The MT survey forms part of Pecoy Copper's broader 2026 exploration strategy, which includes continuing diamond drilling, deposit-scale geological modelling, alteration and vein mapping, and target refinement across the company's broader land package.

Pecoy project highlights

• Large copper system with an inferred mineral resource of 865 Mt (million tonnes) at 0.34 per cent Cu (copper) (approximately 6.5 billion pounds of contained copper), with associated gold, molybdenum and silver credits;
• Surface exposure and multiple breccia centres, including the South breccia;
• Favourable topography at Pecoy Hill, with extensive mineralization expressed at surface and consistent with potential open-pit style geometry;
• Low elevation (approximately 1,650 m) with year-round access and proximity to infrastructure corridors and deepwater ports;
• Additional district-scale upside at Tororume (approximately eight km north), where all nine historical drill holes intersected mineralization.

Grant of share options

The company also announces that its board of directors has granted today share options in respect of 105,000 common shares to certain directors and consultants pursuant to the company's omnibus equity incentive plan. The options have an exercise price of $1.79 per common share, being the closing price of the company's common shares on the TSX Venture Exchange on April 21, 2026. The options will vest equally over a three-year period and will expire five years from the date of the grant.

Qualified persons and technical notes

The scientific and technical information in this news release has been reviewed and approved by Vincent Cardin-Tremblay, PGeo, chief geological officer of Pecoy Copper, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

An NI 43-101 technical report in respect of the Pecoy project with an effective date of April 30, 2025, and dated July 23, 2025, was prepared by Mining Plus and is available on SEDAR+ under the company's profile. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About Pecoy Copper Corp.

Pecoy Copper is advancing the 9,975-hectare Pecoy copper-gold-molybdenum-silver project, a large, undeveloped porphyry system located in southern Peru's Arequipa region, within one of the world's most prolific copper belts. The Pecoy deposit hosts a current copper inferred resource of 865 million tonnes at 0.34 per cent Cu, with significant associated gold, molybdenum and silver credits.

To date, less than 49,000 metres of historical drilling have been completed at Pecoy, defining a broad and continuous mineralized system with potential for expansion along strike and at depth. The project benefits from its favourable elevation of approximately 1,650 metres above sea level, providing year-round access and reduced operating complexity compared with many high-altitude Andean deposits.

Strategically located near the Pacific Coast, Pecoy enjoys excellent infrastructure, with close proximity to highways, power lines and water sources, and good access to the deepwater ports of Matarani (approximately 240 kilometres southwest) and Ilo. This infrastructure advantage positions Pecoy Copper to advance the project efficiently from exploration toward future development within one of the world's most established and mining-friendly jurisdictions.

The company's common shares are listed on the TSX Venture Exchange under the symbol PCU and also trade on the OTCQB under the symbol PCUUF.

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