King Copper arranges $15-million private placement

Mr. Jonathan Richards reports KING COPPER DISCOVERY CORP. ANNOUNCES $15 MILLION FINANCING King Copper Discovery Corp. has arranged a non-brokered private placement financing of up to 65,217,392 common shares at a price of 23 cents per share for gross proceeds of up to $15-million. A strategic investor will be participating in the financing and, upon closing, is expected to hold approximately a 9.99-per-cent ownership interest in King Copper on an undiluted basis. Proceeds from the financing will be used to advance exploration, including diamond drilling of the company's flagship Colquemayo copper-gold project and for working capital purposes. Jonathan Richards, chief executive officer of King Copper, commented: "We are excited to add the strategic investor as a major shareholder of the company. This financing results in King Copper being fully financed for a 15,000-metre drill program, which will allow the company to advance exploration at the Colquemayo copper-gold project along the 12-kilometre mineralized corridor." In connection with closing of the financing, King Copper and the investor will enter into an investor rights agreement whereby the investor will be granted certain rights, subject to the investor maintaining certain ownership thresholds in the company, including (i) the right to participate in future equity financings and top up its holdings in the event of dilutive issuances in order to maintain its pro rata ownership in the company at the time of such financing or to acquire up to a 9.99-per-cent ownership interest, on a partially diluted basis, in the company; and (ii) the right (which the investor has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors to eight or more directors, two persons) to the board of directors of King Copper. The expected closing date of the financing is Sept. 17, 2025. Finders' fees may be payable on the transaction. Closing of the financing is subject to various conditions precedent including, among other things, approval of the TSX Venture Exchange. All securities issued in connection with the financing will be subject to a statutory four-month hold period in accordance with applicable securities law. Eventus Capital Corp. has been appointed as an advisor to King Copper in connection with the financing. About King Copper Discovery Corp. and its projects King Copper is a TSX-V-listed exploration company focused on the Colquemayo gold-copper project in South America. The company is led by a team responsible for multiple gold-copper-silver discoveries. Qualified person: All scientific and technical information in this news release has been approved by Dr. Rohan Wolfe, technical adviser, MAIG, who serves as the qualified person (QP) under the definition of National Instrument 43-101. Dr. Wolfe has conducted a review of historic data at the project, reviewed the company's due diligence study of the project and has conducted an independent QA/QC (quality assurance/quality control) review of historic drilling assays, and consents to the inclusion of this information in the form and context in which it appears. We seek Safe Harbor.