Pecoy Copper Intersects 1,014 m of 0.37% Cu and 0.13 g/t Au from 17 m, Extending 407 m Below Resource Pit Shell

Executive Summary

• Initial assay of drill hole PEC‑25‑065 intersected ≈1,186 m of continuous copper‑gold‑molybdenum‑silver mineralization, extending well below the current pit‑shell resource.
• Significant high‑grade intervals were identified, including 700 m at 0.43% Cu and 301 m at 0.53% Cu, with accompanying Au, Ag and Mo grades.
• Results confirm vertical continuity of the South Breccia system, suggest deeper porphyry center, and support a fully funded Phase 1 program targeting further expansion.

Key Details

• Hole PEC‑25‑065:
• Total depth = 1,186 m; continuous mineralization from 17 m to 1,186 m.
• Overall interval (17–1,186 m): 0.33% Cu, 0.11 g/t Au, 0.013% Mo, 1.20 g/t Ag.

• Highlighted sub‑intervals:

  • 1,014 m @ 0.37% Cu, 0.13 g/t Au, 1.33 g/t Ag, 0.016% Mo (17–1,030 m)
  • 700 m @ 0.43% Cu, 0.14 g/t Au, 1.49 g/t Ag, 0.019% Mo (246–946 m)
  • 301 m @ 0.53% Cu, 0.15 g/t Au, 1.81 g/t Ag, 0.018% Mo (450–751 m)
  • 297 m @ 0.52% Cu, 0.07 g/t Au, 1.94 g/t Ag, 0.033% Mo (624–921 m) – located below current pit shell.

• Geological Interpretation:

• Hole confirms vertically persistent hydrothermal brecciation and stockwork veining from surface to depth.

• Transition at depth into intrusive‑dominated altered host rocks; no barren distal alteration observed, implying porphyry center may lie deeper beneath South Breccia.

• Phase 1 Progress:

• ~3,000 m drilled to date; two holes completed in South Breccia (including PEC‑25‑065) and two additional holes underway.

• Drill program now shifting to test Center of the Pit target and Central Breccia areas.

• Drillhole Inventory (Phase 1):
  | Hole | UTM East | UTM North | Elev (masl) | Azimuth | Dip | Length Drilled (m) | Status | |------|----------|-----------|-------------|---------|-----|--------------------|--------| | PEC‑25‑065 | 713,977 | 8,267,284 | 1,899 | N0 | –80° | 1,186.25 | Complete | | PEC‑25‑066 | 713,796 | 8,267,252 | 1,832 | N0 | –75° | 1,068.50 | Complete | | PEC‑25‑067 | 713,104 | 8,268,120 | 1,715 | N175 | –75° | n/a | In Progress | | PEC‑25‑068 | 713,587 | 8,268,230 | 1,863 | N180 | –80° | n/a | In Progress | | PEC‑25‑069 | 713,630 | 8,268,000 | 2,007 | N180 | –75° | n/a | Ready |

• Company Commentary (Vincent Metcalfe, CEO):

• Current inferred resource: 865 Mt @ 0.34% Cu (~6.5 bn lbs Cu) constrained by pit‑shell model.

• New hole extends mineralization ~407 m below that constraint with grades exceeding the resource average, reinforcing scale and continuity of the system.

• Assay Methodology & QA/QC:

• Core split, sampled at ≤2 m intervals; analyzed by Bureau Veritas (ISO‑accredited).
• Fire assay with ICP‑OES finish for Au; ICP‑OES/MS for Cu/Ag; re‑analysis protocols for values above detection limits.

• QA/QC samples ≈15% of total; no significant issues identified.

• Forward‑Looking Statements:

• Company plans to drill up to 40,000 m in 2026, test priority targets (South Breccia, Center of Pit, Tororume), and advance resource definition.

Notable Quotes

“Our current 865 million tonne inferred resource at 0.34% copper… was constrained by a conceptual pit shell. This first hole… intersected continuous mineralization approximately 407 m below that constraint, and at grades exceeding the current resource average.” – Vincent Metcalfe, President & CEO

All technical information reviewed and approved by Vincent Cardin‑Tremblay, P.Geo., Chief Geological Officer (NI 43‑101 Qualified Person).