Selkirk Copper Hits 15.1% Copper Equivalent at Minto North, a 99th-Percentile Grade

• Step-out drilling at Minto North intersected 9.27% copper, 7.43 grams per tonne (g/t) gold, and 54.9 g/t silver, or 15.11% copper equivalent, over 5.4 meters (m).
• The grade of that intercept ranks within the 99th percentile of a historical database of more than 4,300 significant intercepts at Minto.
• Infill drilling in Area 118 returned 3.45% copper equivalent over 3 m within 1.43% copper equivalent over 14.8 m, within 100 m of the existing underground decline.
• As of September 28, 2026, Phase 2 had completed 52,485 m in 224 holes, 105% of the planned meterage.
• In its first year of drilling, Selkirk Copper completed 365 diamond drill holes for 98,467 m, an investment of approximately C$45 million.

Company Overview

Selkirk Copper Mines (TSX-V: SCMI | FRA: IO20 | OTCQX: SKRKF) is advancing the restart and redevelopment of the former Minto copper-gold-silver mine in Yukon, Canada, in partnership with the Selkirk First Nation, which indirectly holds a controlling equity stake in the company. Selkirk Copper controls 26,850 hectares of mineral claims in the Minto-Carmacks copper belt, together with open-pit and underground infrastructure, a 4,100-tonne-per-day processing plant, a 400-person camp, and water treatment facilities.

Minto North Step-Out Results

At Minto North, Phase 2 drilling targets infill and expansion of priority areas within the early planned mine life, including the high-grade 202 Lens. Results cover 7 holes on the 202 Lens, 5 for infill and 2 for resource expansion, and 6 of them intersected significant mineralization.

A hole stepping out 35 meters (m) from previous drilling in the southern part of the 202 Lens intersected 9.27% copper, 7.43 grams per tonne (g/t) gold, and 54.9 g/t silver, or 15.11% copper equivalent, over 5.4 m. The grade of that intercept ranks within the 99th percentile of a historical database of more than 4,300 significant intercepts at Minto, and individual 1 m samples within it peaked at 17.5% copper, 15.9 g/t gold, and 81.9 g/t silver. The same hole returned a second interval of 3.11% copper equivalent over 9.0 m. Drilling south of this hole is complete, with assays pending. 

A second 35 m step-out in the northwestern part of the 202 Lens returned 1.25% copper equivalent over 17.6 m, and the lens remains open to the northwest for expansion, where additional drilling is proposed. Within the 202 Lens, higher-grade and thicker mineralization is focused along a north-northwest trend, and the exploration team is evaluating whether folding and deformation localize that high-grade mineralization.

Area 118 Infill Near Existing Development

Phase 2 drilling in Area 118 targets expansion and delineation of mineralized lenses near existing underground development. All 5 infill holes reported here intersected mineralization, and the results confirm the modeled lens geometry and increase confidence in grade estimation.

Three holes targeted the 114 Lens within 100 m of the existing underground decline, and previous mining took place to the west of this area. One returned 2.54% copper, 1.25 g/t gold, and 10.7 g/t silver, or 3.45% copper equivalent, over 3 m within 1.43% copper equivalent over 14.8 m. Another returned 2.03% copper equivalent over 6.9 m within 1.02% copper equivalent over 33.3 m, and the third returned 1.94% copper equivalent over 9.1 m. Mineralization in this area remains open to the south and southeast. 

Minto Main & Copper Keel Infill

Drilling at Minto Main targets lenses between and beneath previous open-pit and underground mining areas. All 4 holes reported on the 114 and 117 Lenses intersected mineralization, although grades in 2 holes were lower than expected. One hole, designed to fill a 90 m gap in earlier drilling, returned 1.42% copper equivalent over 9.7 m in the 114 Lens and 0.94% copper equivalent over 32.1 m in the 117 Lens.

At Copper Keel, 5 of 9 holes on the eastern portion of the 101 Lens intersected mineralization and confirmed the modeled lens geometry. Results included 2.29% copper equivalent over 5 m and 0.94% copper equivalent over 18 m. Other parts of Copper Keel returned lower grades that may not warrant inclusion in a mine plan.

Phase 2 Progress & First-Year Milestone

Phase 2 began in May 2026 with a target of 50,000 m of expansion, exploration, and infill drilling, plus geotechnical data collection for the upcoming feasibility study (FS). As of September 28, 2026, Phase 2 had completed 52,485 m in 224 holes, 105% of the planned meterage. Higher drilling productivity, more efficient logistics, and a lower average cost per meter than in Phase 1 led the exploration team to identify opportunities to complete additional meters while remaining on schedule and on budget.

President and Chief Executive Officer of Selkirk Copper, M. Colin Joudrie, ties the latest intercepts to the planning work ahead of a restart: 

"Results from the Phase 2 drill program, particularly high-grade copper-gold-silver intercepts at Minto North and Area 118, are an integral part of Minto Project restart plan, providing the information necessary to inform and refine our upcoming Feasibility-level mine planning and development plans." 

In the year from August 23, 2025, Selkirk Copper completed 365 diamond drill holes for 98,467 m. The program ranks among the largest single-year drill programs ever completed in Yukon, involving approximately 200,000 person-hours and approximately C$45 million in investment in mineral resource development. 

Director of Geoscience & Exploration of Selkirk Copper, Leif Bailey, points to what the first year of drilling has shown about the deposit:

"The results of this drill program demonstrate that considerable potential still exists at Minto for discovery and delineation of high-grade copper, gold, and silver mineralization."

The rig count was reduced from 4 to 2 in late August 2026, and drilling is targeted to continue until mid-October. The final stage of the program is focused on geotechnical data, water monitoring wells, and recently identified geophysical targets.

Regional Exploration

A modest-sized, helicopter-supported regional program from July to September 2026 was Selkirk Copper's first evaluation of its regional claims, which contain numerous Minto-style copper-gold occurrences in the same host rocks as the Minto deposit. Many of these occurrences have had no substantial exploration in more than 10 years. The work covered geological and structural mapping, soil sampling, and airborne geophysical surveys, and results are pending, with interpretation through the winter to develop targets for further assessment in 2027.

Next Steps 

The latest results come from holes drilled in June 2026, and assay turnaround is currently approximately 8 weeks. Selkirk Copper is targeting further assay releases through the fall and winter of 2026.

Selkirk Copper is hosting an investor update on October 2, 2026, at 11:00 a.m. EDT, covering the recently completed preliminary economic assessment, the mineral resource estimate, and the initial economics of the Minto Project. Management will also cover the main areas of focus in the planned FS.

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