Mr. Stuart McDonald reports

TREKOR ANNOUNCES 41 MILLION POUNDS OF COPPER PRODUCTION FROM GIBRALTAR AND FLORENCE COPPER IN THE THIRD QUARTER

Trekor Metals Ltd. had third quarter total production of 41 million pounds of copper from its 100-per-cent-owned Gibraltar mine and Florence copper production facility.

Gibraltar produced 34 million pounds of copper and 380,000 pounds of molybdenum in the quarter. The Connector pit continued to deliver strong grades, which, in addition to an increase in mill throughput and improved solvent extraction-electrowinning plant performance, drove a 12-per-cent increase in quarterly production. Copper sales from Gibraltar totalled 31 million pounds in the period.

The Florence copper ramp-up continued in the third quarter with steady monthly production growth. Total copper cathode production was seven million pounds, a 36-per-cent increase over the prior period. Sales for the quarter were seven million pounds.

Stuart McDonald, president and chief executive officer of Trekor, commented: "Solid progress on the Florence copper ramp-up continued in the third quarter with no well field performance issues of any significance. Initial flow rates across the well field continue to exceed expectations, and work is ongoing to optimize the balance between well field flows and PLS grade. The SX/EW plant has been operating very well, producing high-quality copper cathode with no impurities and operated for several days last week at design capacity without issue. The one area where progress remains behind our initial plan is the well field expansion. Drilling rates have improved in recent months, but we are still about three months behind our original plan. We are now expecting 25 [million] to 28 million pounds of copper production in 2026. Wells recently brought on-line, together with those expected to come on-line shortly, are anticipated to support a significant increase in cathode production, completing the ramp-up to full production capacity in early 2027.

"Our Gibraltar mine had another strong quarter of operating performance as higher-grade ore was mined from the bottom of the Connector pit. The transition back into more complex ore began later in the third quarter, which impacted recoveries as expected. In the fourth quarter, we expect lower grades and recoveries as mining transitions back to the upper benches of the Connector pit. Based on production through three quarters, we now expect Gibraltar to produce 115 [million] to 120 million pounds of copper, an increase over our original guidance of 110 [million] to 115 million pounds."

On Oct. 6, Florence copper hosted an event in Arizona to mark the onset of commercial production at the world's first greenfield commercial-scale in situ copper operation. Representatives of federal, state and local governments attended, including U.S. Environmental Protection Agency administrator Lee Zeldin, along with employees, community and business partners.

Mr. Zeldin commented: "After almost two decades without a new copper source anywhere in the U.S., the Florence copper mine in Arizona is now open and will produce tens of millions of pounds of copper per year and create hundreds of good-paying jobs to the community. It was great to be there in person yesterday to celebrate the mine's opening -- a huge win for Arizona's economy and its environment."

"Bringing Florence copper into production is a huge accomplishment for our team and for all of our partners and supporters who made it possible," Mr. McDonald said. "Florence copper brings Trekor one step closer to its goal of becoming a leading North American copper producer."

On Oct. 8, Trekor is hosting an analyst and investor site tour at Florence copper. The presentation, which provides an overview of the in situ copper operation and an update on the production ramp-up, can be found on Trekor's website under corporate presentations.

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