Mr. Stuart McDonald reports

TREKOR ANNOUNCES 36 MILLION POUNDS OF COPPER PRODUCTION FROM GIBRALTAR AND FLORENCE COPPER IN THE SECOND QUARTER

Trekor Metals Ltd. has released the second quarter production results for its 100-per-cent-owned Gibraltar mine and Florence copper production facility.

Gibraltar produced 30.3 million pounds of copper and 559,000 pounds of molybdenum in the second quarter. Mining activities were focused in the lower benches of the connector pit, which delivered ore grades in line with the life of mine average. Mill throughput and recoveries were also consistent with the previous two quarters. Copper sales from Gibraltar totalled 32.2 million pounds in the period.

At Florence copper, the production ramp-up has advanced smoothly in recent months. A total of 5.2 million pounds of copper cathode was produced in the second quarter, in line with management expectations, as consistent copper production was achieved from the initial wells. With the wellfield and SX/EW (solvent extraction and electrowinning) plant operating at a steady state, the first new production wells were integrated into the system in early June, resulting in higher pregnant leach solution (PLS) grades and increased copper production for the month.

Sales for the quarter were 5.3 million pounds of copper. Cathode quality has met all customer specifications and trucking logistics have been running smoothly to date.

Annual copper production guidance for 2026 remains unchanged for Gibraltar (110 million to 115 million pounds) and Florence Copper (30 million to 35 million pounds).

Stuart McDonald, president and chief executive officer of Trekor, commented: "We are pleased with production performance at both our producing assets this quarter. At Gibraltar, production has remained consistent for the past three quarters as mining operations are well established in the connector pit. Operating costs continue to be impacted by higher diesel and explosive costs.

"The Florence ramp-up is advancing on plan and the team has made excellent progress stabilizing all key circuits. At the end of the quarter, there were 110 production wells operating and feeding the SX/EW plant with flow rates of approximately 3,400 gallons per minute and PLS grades of 1.8 grams per litre. The site operating team continues to refine and optimize wellfield operations to maximize copper production from the existing wells. Wellfield expansion is also a key focus for the continuing ramp-up, and we're on track to bring an additional 26 wells on line in August with regular monthly additions of new wells for the remainder of the year," concluded Mr. McDonald.

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