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Vancouver, BC – TheNewswire - September 24, 2026 – Global Stocks News - Sponsored content disseminated on behalf of Selkirk Copper Mines. On September 22, 2026, Selkirk Copper Mines (TSXV: SCMI) (FRA: IO20) (OTCQX: SKRKF) announced the results of a Preliminary Economic Assessment (PEA) for its copper-gold-silver Minto Project located in Yukon, Canada.

Fifteen months ago, Selkirk First Nation (SFN) purchased the former Minto Mine out of bankruptcy, then partnered with the Frank Giustra-backed Fiore Group to form Selkirk Copper Mines.

Selkirk Copper is derisking the Minto Project through exploration, resource expansion, engineering, and mine planning, with the goal of establishing a 12-15 year mine life before a planned production restart in 2028.

“We’re very happy with the economics,” Scott Fulton, VP of Engineering, told Guy Bennett, CEO of Global Stocks News (GSN). “Our engineers and mine planners have been working collaboratively throughout the PEA with a team of engineering consultants hired independently by The Selkirk First Nation.”

“This is a robust, complete and comprehensive review of all aspects of the mine design, processing plant and infrastructure engineering,” added Fulton. “All costs have been built up from first principles over the Capex, Opex and Susex periods. Certain pre-capex costs are not included in the PEA economic model. We estimate these costs to be about $20 million.”

Because of key operational and financial variables, the SCMI PEA baseline economics are conservative.  For instance, the headline Net Present Value (NPV) number (C$494 million) is based on a copper “planning price” of $5.00/lb.

At the current copper price of US$6.50/lb, the after-tax NPV more than doubles to C$1.023 billion. Consensus copper price projections indicate a long-term upward trend, driven by green energy electrification, AI data centre demand and mine-supply deficits. A hypothetical $1/lb increase to $7.50/lb adds another $362 million to the projected NPV.

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The 98%-complete 50,000-metre Phase 2 drill program is also completely excluded from the PEA economics.

The September 22, 2026 PEA outlines a potential pathway to developing a longer-life operation with additional copper-gold-silver concentrate production, dependent on further exploration success.

“Working with the SFN helps to give our group legitimacy with regulators and government entities,” stated Fulton. “Any proposal or application we make comes with rigorous, independent third-party due diligence.”

“The PEA confirms that we have a pathway to put the Minto Mine back into production, with a low capital expenditure (capex),” added Fulton. “A 13-year mine plan is a good start. There is potential to the north and south of the Minto Mine that I believe could turn this into a multi-decade project.”

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Readers are cautioned that the PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied that would enable these resources to be categorized as Mineral Reserves. There is no certainty that the projections in the PEA will be realized. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

“Over the past 12 months, the team has delivered exceptional results across all aspects of our restart plan, from resource discovery, expansion and definition, resource modelling, integrated mine planning, project definition, engineering and design, capital and operating cost estimation, permitting, and Selkirk First Nation engagement,” stated M. Colin Joudrie, President & CEO, in the press release.

“The positive economics described in the PEA create the platform for the Company to pursue a restart decision at the completion of a Feasibility Study and permit amendment receipt in H2-2027 with targeted first concentrate production by H2-2028.”

The initial capital costs (Capex) of the Project, including working capital requirements, owner’s costs, and contingency commensurate for the level of study , is estimated to be C$186 million .   Pre-capex costs , not included in the PEA, are estimated to be about $20 million .

The after-tax payback period from first production is approximately 1.9 years .

Sustaining capital costs (Susex) over the life of mine is estimated to be C$409 million , including a scoping-level estimate of closure and rehabilitation.

Operating costs (Opex) over the life of mine are estimated at C$1,764 million .

At Spot Prices of US$6.50/lb copper, US$4,300/oz gold and US$65/oz silver, the internal rate of return (IRR) increases from 47.8% to 78.2%, and the after-tax payback period from first production reduces from 1.9 years to 1.3 years.

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In descending order, the Minto Project restart economics are most sensitive to:

i) copper price
ii) CAD:USD foreign exchange rate
iii) copper recovery
iv) gold price
v) operating costs.

Detailed assessments by Selkirk Copper and third-party experts show that most surface infrastructure is in good working order. Repairs and refurbishments have been ongoing since Q3 2025 to keep the upcoming capital expenditure phase focused on critical path items.

The updated 2026 Mineral Resource Estimate reveals a massive 182% increase in contained metals over the 2025 estimate.

“The level of detail developed in the PEA study, including integrated mine plans, equipment definition, and detailed capital, operating and sustaining cost estimations, has increased our confidence in our ability to deliver on our focused restart timeline ,” stated Joudrie.

Qualified Persons

Scott Fulton, P.Eng, VP Engineering for the Company and a non-independent Qualified Person as defined by National Instrument 43-101, has prepared, validated, and approved the scientific and technical information in this news release.

A team of independent industry experts prepared the PEA, led by Hatch and supported by SRK, Fuse, MMTS, and Ensero.

The affiliations and areas of responsibility of individuals who assisted in the preparation of portions of the PEA are provided below.

Steve Ball, P.Eng. (Hatch Ltd.) – Property Details, History, Project Infrastructure, Capital & Operating Costs

Michael Bobotis, Ing. (Hatch Ltd.) – Mining Methods

Jing Zhao, P.Eng. (Hatch Ltd.) – Mineral Processing & Metallurgical Testing, Recovery Methods

Duncan MacGregor, Pri.Sci.Nat. (Hatch Ltd.) – Economic Analysis

Sue Bird, P.Eng. (Moose Mountain Technical Services) – Geological Setting & Mineralization, Deposit Types, Exploration, Drilling, Mineral Resource Estimates

John Kurylo, P.Eng. (SRK Consulting (Canada) Inc.) – Waste & Water Management

Bruce Murphy, P.Eng. (SRK Consulting (Canada) Inc.) – Rock Mechanics

Grant Carlson, P.Eng. (Fuse Advisors, Part of SLR) – Market Studies & Contracts

References to dollars represent Canadian Dollars ($) unless otherwise specified. Abbreviations for thousands (“k”) and millions (“M”) are used for brevity. The Company intends to file the complete PEA Technical Report on its website (www.selkirkcopper.com) and SEDAR+ ( www.sedarplus.ca ) within 45 days of this press release.

Disclaimer: Selkirk Copper Mines paid GSN C$1,750 for the research, creation and dissemination of this content.

Contact: guy.bennett@globalstocksnews.com

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