Kobrea arranges $3.5-million private placement

Mr. James Hedalen reports KOBREA ANNOUNCES AN INCREASE TO ITS PREVIOUSLY ANNOUNCED $5 MILLION "BEST EFFORTS" PRIVATE PLACEMENT TO $8.5 MILLION WITH THE ADDITION OF A $3.5 MILLION NON-BROKERED OFFERING OF UNITS In connection with Kobrea Exploration Corp.'s previously announced $5-million best effort private placement, Kobrea intends to carry out a concurrent non-brokered private placement for aggregate gross proceeds of up to $3.5-million. The offering will consist of the issuance and sale of: (i) up to 10 million units of the company, at a price of 50 cents per unit sold pursuant to an agency agreement to be entered into between the company and Kernaghan & Partners Ltd., as lead agent and sole bookrunner, on behalf of itself and a syndicate of agents including Beacon Securities Ltd. and Red Cloud Securities Inc., for gross proceeds of up to $5-million; and (ii) up to seven million units at a price of 50 cents per unit offered on a non-brokered private placement basis for gross proceeds of up to $3.5-million. The units will be issued pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions), as amended and supplemented by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one common share at a price per share of 75 cents for a period of 24 months from the date of issuance, provided the warrants may not be exercised for a period of 60 days from the date of issuance. The company intends to use the net proceeds of the offering toward drilling and exploration at the company's projects in Mendoza province, Argentina, and for working capital and general corporate purposes. Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the units will be offered for sale: (i) to purchasers resident in all provinces of Canada, other than Quebec, pursuant to the listed issuer financing exemption; (ii) in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws; and (iii) jurisdictions outside of Canada and the United States that are mutually agreed to by the company and the lead agent, provided that no prospectus filing, registration statement or comparable obligation arises and the company does not thereafter become subject to continuous disclosure obligations in such jurisdictions. The securities issued under the listed issuer financing exemption will not be subject to a hold period under applicable Canadian securities laws. An amended offering document dated Sept. 23, 2025, related to the offering and the use by the company of the listed issuer financing exemption can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision. The offering is expected to close on or about Sept. 30, 2025, and is subject to the company receiving all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. About Kobrea Exploration Corp. Kobrea is a mineral exploration and development company focused on the acquisition and exploration of base metal projects. Kobrea holds the right to earn a 100-per-cent interest in seven projects totalling 733 square kiometres in southwestern Mendoza province, Argentina (see the company's Aug. 19, 2024, news release for details). The properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper targets have been outlined to date exhibiting multikilometre hydrothermal alteration footprints, anomalous copper plus or minus gold plus or minus molybdenum geochemistry, quartz stockwork veining, localized hydrothermal breccias, and Pliocene- to Miocene-aged granodioritic to dioritic porphyry intrusions. Kobrea also holds a 100-per-cent interest in the Upland copper project in British Columbia, Canada. We seek Safe Harbor.