Vancouver, British Columvbia and Pelly Crossing, Yukon--(Newsfile Corp. - May 25, 2026) - Selkirk Copper Mines Inc. (TSXV: SCMI) (FSE: IO20) (OTCQB: SKRKF) ("Selkirk Copper" or the "Company") is pleased to announce that it has closed a further investment by Selkirk First Nation (the "Selkirk First Nation Investment") for aggregate gross proceeds of C$500,250 pursuant to a private placement of 435,000 common shares (the "Common Shares") to 843094 Yukon Inc., a corporation wholly owned by Selkirk First Nation, at a price of $1.15 per Common Share. The investment was completed in connection with the exercise of Selkirk First Nation's pro rata participation right under its existing agreement with the Company.

The Company intends to use the proceeds from the Selkirk First Nation Investment to advance development of the Company's Minto copper-gold-silver project, as well as for working capital and general corporate purposes.

The Common Shares issued pursuant to the Selkirk First Nation Investment were issued on a private placement basis and are subject to a statutory hold period of four months and one day from the date of closing in accordance with applicable securities laws.

Selkirk First Nation is considered an insider of the Company under applicable securities laws, and as such the Selkirk First Nation Investment is considered a "related party transaction" pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the aggregate participation of the insiders in the First Nation Investment does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the First Nation Investment because the exercise by Selkirk First Nation of its pro rata participation right was not known until shortly prior to closing of the First Nation Investment and the parties wished to close on an expedited basis for business reasons.

Early Warning Disclosure

In connection with the Selkirk First Nation Investment, 843094 Yukon Inc., a wholly owned subsidiary of Selkirk First Nation, acquired 435,000 Common Shares at a price of $1.15 per share for aggregate consideration of $500,250.

Upon completion of the Selkirk First Nation Investment, and after closing of the Company's bought deal private placement completed as disclosed in the Company's news release dated April 30, 2026, 843094 Yukon Inc. owns 28,558,374 Common Shares and 1,562,500 common share purchase warrants, representing approximately 18.16% of the issued and outstanding Common Shares on a non-diluted basis (or 18.97% on a partially diluted basis). This represents a decrease of approximately 4.09% of the issued and outstanding Common Shares (or 4.24% on a partially diluted basis) since the date of the 843094 Yukon Inc.'s last early warning report.

Selkirk First Nation, through 843094 Yukon Inc., acquired the Common Shares for investment purposes and, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant. A copy of the early warning report filed by 843094 Yukon Inc. is available under the Company's profile on SEDAR+ (www.sedarplus.ca), or by contacting the Company.

About Selkirk First Nation

Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280 km north of Whitehorse. They are a self-governing First Nation, having signed its Final and Self-Government Agreements in 1997. The Selkirk First Nation owns 4,740 square kilometers of Settlement Land, including 2,408 square kilometers where the Selkirk First Nation owns both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in the Yukon. The Selkirk First Nation, indirectly, holds a controlling equity stake in Selkirk Copper.

About Selkirk Copper

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 centered 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 Inc. is listed on the TSX Venture Exchange under the symbol (TSXV: SCMI), has a secondary listing on the Frankfurt Exchange under the symbol FRA:IO20, and its common shares trade under the symbol (OTCQB: SKRKF) on the OTCQB® Venture Market, a U.S. marketplace operated by OTC Markets Group Inc.

On behalf of the Board of Directors of Selkirk Copper Mines Inc.

M. Colin Joudrie
President and Chief Executive Officer

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the 1933 Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information (collectively, "forward looking information") within the meaning of applicable securities laws. Forward looking information in this news release includes, but is not limited to: the Selkirk First Nation Investment, the intended use of proceeds of the Selkirk First Nation Investment and the exploration and redevelopment of the Minto copper-gold-silver mine.

Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any past results, performance or achievements expressed or implied by such forward-looking statements or information. These risk factors include, but are not limited to: the use of proceeds of the Selkirk First Nation Investment may not be used as currently contemplated; exploration and redevelopment of the Minto copper-gold-silver mine may not result in a commercially successful outcome for the Company; risks associated with the business of the Company; business and economic conditions in the mining industry generally; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298695