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Resource Modelling Update The large batch of results reported above have been extremely useful in providing the information to further define the structural complexity of the system, as well as updating both the lithological and mineralisation models, particularly in areas where significant faulting has been encountered. The full set of multielement assays and gold assays have now been added to the database for review and statistical analysis during the remainder of October, with the intention of producing an updated MRE by the end of the year. The MRE update is expected to demonstrate the upside from the successful drilling campaigns on the copper resource and significant increase in the number of molybdenum assays for estimate, as well as the potential inclusion of gold for the first time as a discreet model. The increased density of drill results throughout all areas of the mineralised system is also expected to improve the resource classification in the new block model by converting Inferred material to the Indicated category. The team expects that with a better understanding of the Inferred material that is expected to remain following the update, a detailed drill plan can then be developed to target converting the resource to Indicated category in preparation for the pre-feasibility study publication in 2026. While the logging and core interpretation used to update the new geological models and MRE will assist with guiding the future drill planning in the different Target areas, with the arrival of four new drill rigs in October the team are looking forward to accelerating the drill program to execute the remaining program in the first half of 2026. RSU Issuance The Company has approved the grant of up to an aggregate of 4,135,000 restricted share units (each, an “RSU”) to certain key executives, officers, consultants and directors of the Company pursuant to the Company’s Omnibus Plan, of which 1/2 of the RSUs will vest 12 months from the date of issuance, and then one-quarter each after 18 and 24 months. Each RSU represents the right to receive, once vested, one common share in the capital of the Company for every RSU held, or the cash equivalent thereof based on the fair market value of the shares of the Company calculated in accordance with the terms of the Omnibus Plan. The grant of RSUs is subject to any necessary regulatory approvals and requirements of the Exchange. Quality Control All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory, No. T0387) and ActLabs in Canada, while the other half was quartered with one quarter archived and stored on site for verification and reference purposes while the other quarter will be used for metallurgical test work. 33 elements are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch and are actively used to ensure proper quality assurance and quality control (“QA/QC”) The QA/QC frequency is 1 in 20 for each of blanks, duplicates and standards. Qualified Person Mr. Dean Richards Pr.Sci.Nat., MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper Project and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400190/08).Mr. Richards is independent of the Company and its mineral properties and is a Qualified Person for the purposes of National Instrument 43-101. About Koryx Copper Inc. Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 511Mt @ 0.33% Cu and 51 ppm Mo for 1,668kt of contained copper and 25.9kt contained Mo in the Indicated category and 308.9Mt @ 0.31% Cu and 40 ppm Mo for 949Mt of contained copper and 12.4kt contained Mo in the Inferred category (0.15% Cu cut-off). Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Further details of the Haib Copper Project are available in the corresponding technical report titled, “NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia” dated effective August 31, 2024 (the “Technical Report“). The Technical Report and other information is available on the Company’s website at https://koryxcopper.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca. On behalf of the Board of Directors“Heye Daun”President, CEO and Director Additional information is also available by contacting the Company: Julia BeckerCorporate Communications[email protected]+1-604-785-0850 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 release. Cautionary Statement Regarding Forward-Looking Information This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company’s recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect “, “is expected “, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Figures accompanying this announcement are available at
