Increased Budget Supports Drilling of Cookara Target at Nevertire South

Kincora Copper Limited (KCC) announced that joint venture partner AngloGold Ashanti (AGA) has increased the 2026 partner-funded drilling budget to support follow-up exploration at the newly named Cookara target within the Nevertire South licence. The company confirmed that planning is underway for the 2027 field season, which will include drilling to test Cookara, the wider northern and southern sections of the Nevertire Magmatic Complex, and interpreted new Macquarie Arc intrusive complexes.

Up to three holes are proposed before the Australian summer holiday season, consisting of two infill holes and one step-out hole. This increased budget accelerates the exploration thesis and systematic campaign with AGA, which holds the right to invest up to A$100 million across five adjacent licences covering a continuous strike greater than 100 kilometres. Kincora receives a 10% management fee on AGA expenditures.

Scout drilling concluded at the Nyngan licences with five holes completed across the Ace of Spades and Gerar targets. Geological and geophysical data, including deep crustal seismic surveys and ground gravity surveys, continue to support a province-scale porphyry potential for the region.

Kincora Copper Limited (KCC) has confirmed the execution of its AGA-funded exploration program, a move that validates the technical merits of the Cookara target following strong Phase 1 results earlier in the year. The increased budget and subsequent management fee income represent an expected outcome of the existing partnership structure, providing a non-dilutive revenue stream without altering the company's core financial position.

This announcement aligns with the progression of the Nevertire South project and the strategic focus on province-scale porphyry potential. The news serves as an incremental operational update that reinforces the existing exploration thesis rather than introducing unexpected catalysts. The market has already priced in the AGA partnership and the planned drilling campaigns, with this release confirming management's commitment to advancing the Cookara target and maintaining the systematic exploration pace.

Kincora Copper Limited operates a hybrid prospect generator model focused on copper and gold exploration across New South Wales, Australia. The company’s flagship project is the Northern Junee-Narromine Belt (NJNB), specifically the Nevertire South licence, which hosts a large porphyry copper-gold system. Kincora leverages a partnership with AngloGold Ashanti, which holds an earn-in right to invest up to A$100 million across five adjacent licences.

Other key projects include Condobolin in the Cobar Basin, as well as Wongarbon, Cowal East, Fairholme, Trundle, and Cundumbul, covering a diverse geological setting from porphyry to epithermal systems. The company utilizes traditional geological methods alongside next-generation AI and geophysical technologies from partners like Geomorphic AI, Atomionics, and Fleet Space.