Koryx Copper drills 36 m of 1.42% Cu at Haib

Executive Summary

• Koryx Copper announced a high‑grade intercept in drill hole HM90 (36 m @ 1.42 % Cu, peak 3 % Cu) within a 110 m zone averaging 0.70 % Cu from surface, representing the widest continuous >1 % Cu zone at Haib to date.
• The Namibian Ministry of Industry, Mines and Energy approved a two‑year renewal of exclusive prospecting licence (EPL) 3140, extending it to July 7 2027, and Koryx submitted a mining licence application for the Haib project.
• These developments materially de‑risk the project’s near‑surface high‑grade potential and advance it toward permitting and eventual mine development.

Key Details

• Drill Hole HM90: 419 m total depth; average 0.33 % Cu; top 110 m @ 0.70 % Cu; 36 m @ 1.42 % Cu (peak 3 % Cu).
• Historical Context: Adjacent hole HM06 (2021) intersected 90 m @ 0.60 % Cu, including 36 m @ 0.88 % Cu; other nearby historic holes also show >0.40 % Cu near surface.
• Resource Implication: The high‑grade, near‑surface intercepts suggest potential for a low‑strip starter pit and improve confidence in the east‑west structural trend at Target 2.
• EPL Renewal: EPL 3140 renewed for two years (until 7 July 2027) after satisfying prior expenditure commitments; Koryx must present annual updates and obtain environmental clearance certificates.
• Mining Licence Application: Submitted to MIME with technical study update, financing strategy, and planned ECC submission in Q2 2026; MIME review expected to take ≥6 months.
• Quality Control: Core split‑half; analyses performed by ALS Laboratories (Johannesburg) and ActLabs (Canada); QA/QC frequency 1 in 20 for blanks, duplicates, standards.
• Qualified Person: Dean Richards, PrSciNat, MGSSA, reviewed and approved the technical information per NI 43‑101.

Notable Quotes

“I am very pleased by two unrelated but equally significant developments at the Haib project… The first one is a very significant, high‑grade drill result in drill hole HM90…” – Heye Daun, President & CEO

Materiality Assessment: Material – Positive** (The high‑grade intercepts and permitting progress are likely to have a favorable impact on Koryx Copper’s valuation and development timeline.)