Coppernico Provides 2025 Recap and Outlook for 2026

The December 22, 2025, news release serves as a corporate summary of 2025 and an outlook for 2026. Key takeaways include: - Completion of the 2025 Phase 1 drilling program at the Sombrero Project, which included 20 holes (8,232m) primarily at the Ccascabamba target. - Shift in focus toward surface exploration at the Nioc target, where high-grade channel samples were reported: 52m of 1.06% Cu and 93.5m of 0.87% Cu. - Submission of an expanded EIA-Sd drill permit application to increase drill platforms from 38 to 181, covering 3,024 hectares to access high-priority targets like Fierrazo and Nioc. - Active large-scale geophysical programs (UAV magnetic and ground gravity) are currently underway to refine Phase 2 targets. - A heavy 2026 marketing schedule (VRIC, PDAC, SMI, CEM) indicates a strong push for investor visibility ahead of potential capital requirements.

The impact of the recent news is neutral to slightly positive but does not constitute a "game changer" as the company is currently in a holding pattern awaiting permits. - Drilling Results vs. Projections: In January 2025, the company projected a 30-hole, 11,500m program. By May 2025, the program was paused after 20 holes and 8,232m. Management admitted Phase 1 encountered "limited grades and width" (0.18% to 0.26% Cu) compared to their targets. - Permit Bottleneck: The company cannot drill its most "prospective" targets (Fierrazo, Nioc) until the expanded EIA-Sd is approved. This creates a significant operational gap. - Exploration Pivot: Because Phase 1 drilling was underwhelming, the company is leaning heavily on surface channel samples at Nioc. While 1.06% Cu over 52m on the surface is impressive, it does not guarantee vertical continuity, as seen in the disappointing Phase 1 results at Hojota. - Treasury Depletion: The company started 2025 with ~C$11M and reported ~C$5.48M as of June 30, 2025. Given the ongoing geophysics and field programs, the company is likely approaching a level where a dilutive financing will be required before Phase 2 drilling begins.

Coppernico Metals Inc. is a Vancouver-based explorer focused on the Sombrero Project in Peru. The project is located on the northwestern extension of the Andahuaylas-Yauri belt, which hosts world-class deposits like Las Bambas and Haquira. - Flagship Project: Sombrero Project (56,400 hectares). - Geological Model: Copper-gold skarn and porphyry system. - Stage: Advanced exploration. Phase 1 drilling completed; Phase 2 permitting underway.