Axo Copper Launches Drill Campaigns at San Antonio and Reports New Copper Results at La Huerta

• A 25,000-metre infill and expansion drill programme is now underway at the Sapuchi oxide deposit at San Antonio
• A 5,000-metre exploration programme is planned at the El Tigre target, along strike of an existing resource, with first holes expected by mid-March 2026
• La Huerta hole LHCC-25-043 returned 2.26% copper over 11.4 metres, extending known mineralisation approximately 40 metres down-dip from a previously reported intercept
• Axo is working to advance the Sapuchi oxide resource towards production using a crusher and carbon-in-column plant already on site
• San Antonio holds a combined resource of over 1.1 million ounces of gold across indicated and inferred categories, spanning oxide, transition and sulphide deposit types

Axo Copper Corp. (TSXV: AXO) is a Canada-based mineral exploration company with two projects in Mexico. Its San Antonio gold project in Sonora is an advanced-stage asset with over one million ounces of gold in combined resources across multiple deposit types. The company also holds the La Huerta copper property in Jalisco, where early-stage exploration has returned high-grade copper both at surface and at depth through drilling. Axo's current focus is on resource growth at both projects and advancing the Sapuchi deposit at San Antonio towards a production decision.

San Antonio Drill Programme: 25,000 Metres at Sapuchi and 5,000 Metres at El Tigre

Axo completed its acquisition of the San Antonio project in late January 2026 and has since initiated a 25,000-metre infill and resource expansion drill programme at the Sapuchi deposit. The programme aims to improve resource confidence, fill gaps within the existing block model, and test ground around the deposit's periphery. The last significant drill campaign at San Antonio was carried out by Osisko Development Corp. in 2021, covering 27,870 metres of resource definition work.

Sapuchi's oxide resource currently stands at 53,000 ounces of gold in the indicated category and 75,000 ounces in the inferred category.

President and CEO Jonathan Egilo said:

"Our approach to San Antonio will be two-pronged: target upside through resource growth and new discoveries across the land package, in addition to performing the necessary activities towards advancing the Sapuchi oxide resource into a production-ready state."

At El Tigre, Axo's first exploration target outside the known resource areas, access road construction is under way ahead of first drilling in mid-March. The zone spans approximately 1,500 metres by 500 metres and sits along strike and immediately west of the Golfo de Oro pit-constrained resource. Prior surface chip sampling at El Tigre has returned strong gold grades across the area. The initial programme is planned at 5,000 metres, with potential to increase scope subject to results.

La Huerta: Copper Mineralisation Extends Down-Dip at Las Marias

The latest results from La Huerta are highlighted by hole LHCC-25-043, which returned 2.26% copper and 6.29 grams per tonne silver over 11.4 metres, including 3.69% copper and 9.33 grams per tonne silver over 4.2 metres. These results represent a down-dip extension of approximately 40 metres from hole LHCC-25-031, previously reported at 1.64% copper and 7.59 grams per tonne silver over 12.4 metres.

Drilling at La Huerta is ongoing, with the current programme testing the down-dip extension at Las Marias through a series of planned holes ranging from approximately 350 to 450 metres in length. The programme is designed to establish the extent and continuity of copper mineralisation at depth.

Further assay results are expected as work continues through 2026. Axo's broader objective at La Huerta remains defining near-surface mineralisation along the La Huerta Trend, expanding mineralisation at depth, and pursuing new discoveries in what it describes as an underexplored district.

Sapuchi Oxide Resource: Existing Infrastructure Supports Production Pathway

Axo is pursuing a fast-track path to production at Sapuchi using a crusher and carbon-in-column plant already in place at the San Antonio project site. Oxide resources at Sapuchi, which are contained within a favourable topography, are being considered as a potential starter pit. The presence of on-site processing infrastructure reduces the capital and time typically required to move an oxide resource towards production.

The 25,000-metre drill programme currently underway is intended to upgrade resource confidence at Sapuchi and expand the resource through infill and step-out drilling. Axo views this work as necessary ahead of any production decision. The Golfo de Oro deposit, which holds 262,000 ounces of gold in the indicated category and 254,000 ounces in the inferred category, forms part of the broader San Antonio resource base that Axo will continue to advance alongside Sapuchi.

Total resources at San Antonio stand at 576,000 ounces of gold and 1.37 million ounces of silver in the indicated category, and 544,000 ounces of gold and 1.76 million ounces of silver in the inferred category, across all deposit types.

Outlook

With drilling now underway at Sapuchi and El Tigre drilling scheduled for mid-March, Axo expects to generate exploration results from San Antonio throughout 2026. At La Huerta, further assay results from the Las Marias down-dip programme are anticipated as holes progress. The company's near-term milestones include upgrading the Sapuchi oxide resource and completing the technical work required to assess a production scenario using the existing on-site infrastructure.

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