Selkirk Copper Discovers New Mineralised Zone & Launches Major 2026 Drill Programme at Minto Mine

• A brand-new mineralised zone - called the 117 Lens - has been discovered beneath an old open pit at the Minto Mine, with early drill results confirming broad and locally high-grade copper, gold, and silver mineralisation.
• The 117 Lens sits close to existing underground tunnels, meaning the company may not need to build significant new access infrastructure to reach and mine it.
• Selkirk Copper has started a second, larger phase of drilling targeting up to 50,000 additional metres to be completed by November 2026, with four drill rigs active or about to start.
• Drilling at Minto East continues to hit multiple high-grade zones, including a fifth mineralised lens found at depth beyond the edges of previous drilling.
• An updated resource estimate and economic study are on track for mid-2026, feeding into a targeted mine restart decision in mid-2027.

Selkirk Copper(TSX-V: SCMI) has announced the discovery of a new copper, gold, and silver mineralised zone at its Minto Mine in Yukon, Canada, alongside the launch of a major second phase of drilling. The announcement, dated 11 May 2026, marks a meaningful step forward in the company's effort to bring the former producing mine back into operation.

A New Zone Close to Existing Infrastructure

The newly discovered 117 Lens sits directly beneath a pit that was previously mined at surface and lies close to tunnels built during the mine's earlier operating life. That proximity is significant: the company may be able to reach this new zone without spending heavily on new underground access. Three drill holes all returned meaningful mineralisation, with one hole intersecting a high-grade interval of copper, gold, and silver within a much wider stretch of lower-grade mineralisation. The 117 Lens currently measures roughly 250 by 200 metres and remains open to the west, meaning it could extend further with additional drilling.

M. Colin Joudrie, President and Chief Executive Officer, commented:

"These results highlight that there is still significant discovery potential in the near-mine environment, and support our view that our commitment to exploration drilling will continue to deliver meaningful positive results."

Minto East & Other Target Areas

At Minto East, step-out drilling intersected four stacked mineralised lenses that match up well with earlier results, confirming geological continuity into new ground. A fifth lens was also hit at greater depth beyond the known limits of previous drilling. At Minto North, Ridgetop, and Area 118, results continue to build the geological picture needed for resource modelling, with the majority of holes at Ridgetop and Area 118 returning grades above the threshold used in the existing resource estimate.

A Larger Drilling Campaign Now Underway

Having completed Phase 1 in April 2026, Selkirk Copper has moved quickly into a second, larger campaign targeting up to 50,000 additional metres for completion by November 2026. Four drill rigs are active or expected imminently, with the same contractor team from Phase 1 providing continuity. Beyond resource expansion, Phase 2 will collect rock mechanics and ore processing data needed to advance towards a feasibility study.

Joudrie outlined the strategic purpose of the expanded programme:

"With the updated Mineral Resource Estimate and Preliminary Economic Assessment on track for completion in mid-2026, we are looking ahead towards additional requirements that will support a potential restart decision in mid-2027. The Phase 2 drill program will continue to focus on resource expansion while also prioritizing important geoscience and technical data collection that will support the restart decision."

Next Steps

The remaining Phase 1 assay results are expected within the coming month. An updated Mineral Resource Estimate and Preliminary Economic Assessment are on track for mid-2026 and will feed directly into a potential mine restart decision targeted for mid-2027. Summer geological mapping across the broader land package is also planned to identify new targets for future drilling.

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