World Copper Signs Letter of Intent to Acquire the Hot Tip Property, Nye County, Nevada

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - World Copper Ltd. (TSXV: WCU) (OTCID: WCUFF) (FSE: 7LY2) ("World Copper" or the "Company") is pleased to announce that it has entered into a letter of intent dated October 14, 2026 (the "LOI") with Orogen Royalties Inc. ("Orogen"), GenEx Exploration Inc. ("GenEx") and Altius Resources Inc. ("Altius", and together with Orogen and GenEx, the "Vendors") for the proposed purchase of a 100% undivided interest in the Hot Tip property located in Nye County, Nevada (the "Transaction"). The Property The Hot Tip property (the "Property" or the "Hot Tip Property") comprises 129 unpatented lode mining claims and claim applications covering approximately 1,044 hectares (10.4 square kilometres) in Nye County, Nevada (the "Claims"), together with any claims staked by the Vendors at the direction of World Copper prior to the closing of the Transaction. GenEx is the 100% registered owner of the Claims, and each of Orogen and Altius owns a 50% beneficial interest in the Claims pursuant to the terms of an exploration alliance between Orogen and Altius. The Hot Tip Property is a road-accessible early-stage epithermal gold exploration target on Bureau of Land Management (BLM) ground on the eastern edge of the Pancake Range, in Railroad Valley, about 10 kilometres south of U.S. Highway 6 and about 120 kilometres northeast of Tonopah. There is no current mineral resource or mineral reserve on the Property. Historical Work and Geological Setting The following scientific and technical information is taken from public disclosure by Orogen, including Orogen's news release of November 21, 2023, Orogen's Hot Tip Property page, and Orogen's January 2026 Hot Tip Property technical presentation, as well as from information made available to the Company in the course of its due diligence. Alteration and target concept. Orogen interprets the Hot Tip Property as a gold-poor, advanced-argillic alteration cell, comparable in style to the steam-heated cap described at the Silicon deposit in the Beatty district, overlying possible gold-silver mineralization at depth. Hyperspectral mapping reported by Orogen outlines a kaolinite zone about five kilometres across, with a central alunite-pyrite core within a north-trending graben. Structural setting. Orogen reports a graben with up to approximately 150 metres of displacement and a left-step in its central portion, which Orogen interprets as a possible fluid upwelling zone. The strongest reported alunite is focused in that step-over. Based on the information available to the Company, the low-pH core has not been drill-tested. Geophysics. Historical gradient-array induced polarization ("IP") work reported by Orogen outlines a chargeability anomaly greater than 15 millivolts per volt ("mV/V"), about one kilometre by two kilometres, coincident with alunite-kaolinite, pyrite and silica, and lying within the graben. Outcrop of the alunite-pyrite core is reported at about one kilometre by 400 metres. Orogen reports that the anomaly extends the postulated upwelling zone about two kilometres south under alluvial cover. Surface geochemistry. Rock and historical sampling reported by Orogen returned pathfinder values up to 245 parts per million ("ppm") mercury, more than 1% arsenic, more than 1% antimony and 300 ppm thallium, with visible cinnabar and stibnite reported in argillized tuffs. A silicified inselberg south of the core is reported to carry visible cinnabar. These are selective surface results. Sample type, laboratory and quality-assurance procedures for the individual results have not been verified by the Company, and the results are not necessarily representative of the Property as a whole. Full supporting details, including precise sample locations, analytical methods, laboratory identities and QA/QC protocols, have not been independently confirmed by the Company. Complete historical datasets are available in Orogen's public materials; the Company does not treat any of these results as current. Historical drilling. Orogen reports that Fischer-Watt drilled 18 holes in the 1980s, with an average depth of 71 metres, and that Coeur drilled nine holes in 2017, with an average depth of 193 metres, directed at jasperoid on the margin of the system. The best reported intercept is 24 metres grading 0.38 grams per tonne ("g/t") gold in hydrothermal breccia outside the northwest graben margin. The interval is a down-hole length and the true width is unknown. The test result is historical, has not been verified by the Company, and should not be relied on. The reported drilling tested the margin of the alteration cell and did not test the alunite-pyrite core. Full drill-hole details, including locations, azimuths, dips and analytical procedures, have not been independently confirmed by the Company. Regional context. Orogen places the Hot Tip Property near the intersection of the 32 million-year-old Williams Ridge caldera and the 28 million-year-old Monotony Valley caldera, at the south end of an alteration corridor about 20 kilometres long that includes the historic Silverton silver district about 14 kilometres to the north. Orogen describes the Hot Tip Property alteration as kaolinite and alunite-rich, consistent with a well preserved upper-level steam-heated cap, and has compared the setting to the Round Mountain gold-silver mine, an Oligocene low-sulphidation system about 110 kilometres west-northwest. Mineralization at Silicon, Round Mountain, Silverton, Tonopah and any other property is not necessarily indicative of mineralization on the Hot Tip Property. Summary of Proposed Transaction Under the terms of the LOI and subject to acceptance by the TSX Venture Exchange ("TSXV"), it is currently proposed that the Company (or a subsidiary of the Company) will acquire a 100% undivided interest in the Property from the Vendors, who are arm's length parties to the Company, in consideration for a $50,000 cash payment and the issuance of common shares in the capital of the Company having an aggregate deemed issuance price of $600,000 (the "Consideration Shares"), as follows: Milestone Cash (CAD) Consideration Shares(1) Signing of the Definitive Agreement $50,000(2) — Closing of the Transaction ("Closing") — $200,000 Six months after Closing — $200,000 Twelve months after Closing — $200,000 Total $50,000 $600,000   Notes: (1) The deemed issuance price of the Consideration Shares on each date will be the greater of $0.10 and the TSXV "market price" on that date. The Consideration Shares will be issued under applicable prospectus exemptions, will bear the statutory four-month-and-a-day legend in Canada, and will be subject to any applicable TSXV hold and/or escrow period. (2) The $50,000 cash payment will be satisfied by crediting the Exclusivity Payment (as defined below) against such amount. At Closing, each of Orogen and Altius will be granted a 1.5% net smelter returns ("NSR") royalty (3.0% in aggregate) on the Property and on a one-mile area of interest from its outer boundary. Up to 0.25% of each NSR royalty may be bought down for US$2.5 million on or before the fourth anniversary of grant, and a further 0.25% of each NSR royalty may be bought down for US$7.5 million within 120 days after publication of an NI 43-101 pre-feasibility study (or a feasibility study, if no pre-feasibility study has been prepared). The buydowns are independent and need not be exercised against both holders at the same time. Exercising both rights against one holder would reduce that holder's NSR royalty from 1.5% to 1.0%. Each of Orogen and Altius will have a right of first offer on any additional royalty or stream on the Property. The Vendors granted World Copper a period of exclusivity from the date of the LOI until the earlier of (i) 90-days from the date of the LOI, and (ii) the execution of a definitive property purchase agreement (the "Definitive Agreement"), in consideration for a payment of $64,000 (the "Exclusivity Payment"), to be paid within five (5) days of the execution of the LOI. The Exclusivity Payment is non-refundable, provided that if the Transaction is completed it will be credited against the cash portion of the purchase price. At Closing, US$23,120 will also be payable to Orogen as a reimbursement of the 2027/28 BLM annual maintenance fees for the Claims. Completion of the Transaction is subject to, among other things, the satisfaction of customary conditions precedent, including, without limitation, satisfactory completion of due diligence by World Copper, World Copper (or a subsidiary of World Copper) and the Vendors entering into the Definitive Agreement which will contain customary terms and conditions for a transaction of this nature, and receipt of all necessary corporate and regulatory (including TSXV) consents and approvals. Qualified Person and Technical Notes Peter Fischl, P.Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure in this news release. Mr. Fischl is chief geologist of the Company and is not independent of the Company within the meaning of NI 43-101. Verification is limited to a review of Orogen's public disclosure and information provided by the Vendors. The Company's Qualified Person has not verified the historical sampling, analytical, or drill data disclosed herein, which is based solely on Orogen's public disclosure and information provided by the Vendors. Such data should not be relied upon until verified by the Company. Historical exploration results for the Property are disclosed for geological context only. No quality-assurance or quality-control data for the historical exploration programs have been reviewed by the Company. The Company will not treat any historical result as current until a Qualified Person has completed data verification satisfactory for the purpose for which the result is used. These results are selective and complete historical datasets are available in Orogen's public materials. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration on the Property will result in a mineral resource or mineral reserve. ABOUT WORLD COPPER LTD. World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of prospective resource projects. Detailed information is available at World Copper's website at www.worldcopperltd.com. For Further Information, Please Contact: Shaun Pollard President & Chief Executive Officer Telephone: 604-765-9944 Email: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the terms and completion of the Transaction, the negotiation and entry into of the Definitive Agreement, timing of due diligence, the grant of NSR royalties, the issuance of Consideration Shares, TSXV approval, the satisfaction of conditions precedent for the Transaction, and future results of exploration at the Hot Tip Property, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation, market fundamentals will result in sustained mineral demand and prices, the receipt of any necessary permits, licences and regulatory approvals in connection with the Definitive Agreement and the Transaction in a timely manner, the availability of financing on suitable terms for the continued operation of World Copper's business and its ability to comply with environmental, health and safety laws. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Company's projects, the estimation or realization of mineral reserves and mineral resources, future mineral prices, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including TSXV acceptance for filing of the Definitive Agreement), permits or financing or in the completion of other planned activities, risks relating to epidemics or pandemics, including impacts on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law. Hot Tip Claim Package To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3653/319706_wcimage1.jpg Hot Tip Claim Package To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3653/319706_wcimage2.jpg To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319706