Mr. Colin Joudrie reports

SELKIRK COPPER ANNOUNCES PRIVATE PLACEMENT AS SELKIRK FIRST NATION EXERCISES PARTICIPATION RIGHT

Further to Selkirk Copper Mines Inc.'s press releases of April 9, 2026, and April 10, 2026, announcing a $30-million bought deal private placement financing led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters, the Selkirk First Nation has advised that they intend to exercise a portion of their anti-dilution provision. The Selkirk First Nation intends to purchase, separately and in addition to the private placement, 435,000 common shares of the company for aggregate proceeds of $500,250 pursuant to the exercise of the Selkirk First Nation's pro-rata equity participation rights under an agreement entered into with the company in August, 2025. The common shares issued to the Selkirk First Nation will be priced at $1.15 per common share, which is the same price as the common shares issued under the private placement.

"This further investment in Selkirk Copper is another step in progressing towards a potential restart of the Minto copper-gold-Silver project," said Chief Jeremy Harper, chief of the Selkirk First Nation. "This project is important for our citizens, as we advance the economic opportunities envisioned under our final agreements. As stewards of the land, responsible environmental practices and maintaining our spiritual connection to the land remain our top priority as we advance the sustainable redevelopment of the Minto site. Chief and council have confidence in the property and in the management team leading this work. We know that Selkirk Copper fundamentally recognizes this approach, which will create opportunities for our nation, our citizens and the Yukon, and we look forward to continuing to work in partnership to create meaningful value for our nation."

"Selkirk First Nation's continued investment reflects the strength of our partnership and a shared commitment to advancing the Minto copper-gold-silver project," said M. Colin Joudrie, president and chief executive officer of Selkirk Copper. "We are proud to work alongside Selkirk First Nation as both a strategic partner and a significant shareholder, and this additional investment reinforces confidence in our long-term vision to redevelop Minto in an environmentally responsible, sustainable and value-driven manner. We appreciate the trust Selkirk First Nation has placed in the company and look forward to furthering our collaborative evaluation of a restart of operations at the Minto site."

The company intends to use the proceeds of the Selkirk First Nation investment to continue development of the company's Minto copper-gold-silver project, as well as for working capital and general corporate purposes. The Selkirk First Nation investment is subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange. It is anticipated that closing of the Selkirk First Nation investment will occur on or about May 1, 2026, or such other date or dates as the company and the Selkirk First Nation may agree.

The common shares issued to the Selkirk First Nation will be issued on a private placement basis, and will be subject to a statutory hold period of four months and one day from the closing date in accordance with applicable securities laws.

About Selkirk First Nation

Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280 kilometres north of Whitehorse. They are a self-governing first nation, having signed its final and self-government agreements in 1997. Selkirk owns 4,740 square kilometres of settlement land, including 2,408 square kilometres where Selkirk owns both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in Yukon. The Selkirk First Nation, indirectly, holds a controlling equity stake in Selkirk Copper.

About Selkirk Copper Mines Inc.

Selkirk Copper is a well-financed, newly formed company with a controlling interest held by the Selkirk First Nation through its wholly owned subsidiary, that, in partnership with the Selkirk First Nation, is completing a thorough exploration drilling campaign and a restart and redevelopment plan for the former Minto copper-gold-silver mine based on best-in-class environmentally sustainable mining, development and reclamation practice. Selkirk Copper controls 26,850 hectares of prospective mineral claims located in the Minto-Carmacks copper belt as well as significant open-pit and underground infrastructure, a 4,100-tonne-per-day processing plant, 400-person full-rotation camp, water treatment facilities, numerous ancillary buildings and mobile equipment centred on the former Minto copper-gold-silver mine. Selkirk Copper's mineral tenure, operation infrastructure, access roads and powerline, is located on or adjacent to Lands of the Selkirk First Nation much of which is surrounded by prospective Selkirk First Nation Category A Lands.

Selkirk Copper Mines is listed on the TSX Venture Exchange under the symbol TSX-V: SCMI, has a secondary listing on the Frankfurt exchange under the symbol FSE: IO20, and its common shares trade under the symbol OTCQB: SKRKF on the OTCQB Venture Market, a United States marketplace operated by OTC Markets Group Inc.

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