Selkirk Copper Phase 1 Confirms High-Grade Copper-Gold-Silver Results at Five Minto Target Areas as Phase 2 Reaches 14,000 Metres in Opening Month

• Phase 1 drilling at the Minto Project, conducted between August 2025 and April 2026, confirmed copper-gold-silver mineralisation across all five primary target areas.
• Highlight Phase 1 results include 10.22% copper equivalent over 4.1 metres at Area 118 and 8.99% copper equivalent over 3.8 metres at Minto East.
• Phase 1 identified two new mineralised lenses: the first located 100 to 140 metres below known Area 118 resources, with an approximate footprint of 500 by 300 metres; and the second at Minto Main, delineated over approximately 300 by 250 metres and open to the west.
• The 50,000-metre Phase 2 programme commenced in May 2026 and completed 14,000 metres in its first month, with four drills averaging 120 metres per day per drill, compared with 94 metres per day during Phase 1.
• Initial Phase 2 assay results are expected within eight weeks, with full programme results planned for release throughout summer and autumn 2026.

Company Overview

Selkirk Copper Mines (TSX-V: SCMI) is advancing the Minto copper-gold-silver project in Yukon, Canada, a multi-zone deposit with an established mine footprint encompassing five primary target areas featuring both near-surface open-pit potential and deeper underground mineralisation.

Selkirk Copper Mines has released assay results from 46 drill holes as part of Phase 1 of the Minto Project drill programme. The Phase 1 programme ran from August 2025 to April 2026 across five primary target areas: Area 118, Minto Main, Minto East, Ridgetop, and Minto North. Results confirmed copper-gold-silver mineralisation at all five areas, with Phase 1 also identifying two new lens discoveries at depth: one beneath Area 118 resources, and one at Minto Main.

Phase 1 Drill Results Across Five Target Areas

Phase 1 drilling at the Minto Project covered five primary target areas, with the final assay batch drawn from 46 holes: Area 118, Minto Main, Minto East, Ridgetop, and Minto North. Mineralisation across the property is hosted within foliated and migmatised granodiorite, in bornite and chalcopyrite occurrences, with sub-horizontal to shallow-dipping zones extending across the mine footprint.

At Area 118, drilling returned 4.39% copper, 7.60 grammes per tonne (g/t) gold, and 21.07 g/t silver (10.22% copper equivalent) over 4.1 metres, within a broader interval of 3.31% copper equivalent over 15.7 metres from 278.6 metres. At Minto East, drilling returned 3.77% copper, 6.74 g/t gold, and 23.68 g/t silver (8.99% copper equivalent) over 3.8 metres from 639.7 metres, within a broader interval of 3.20% copper equivalent over 11.3 metres. A second drill hole at the same area returned 11.32% copper equivalent over 1.4 metres at 211.4 metres, 5.41% copper equivalent over 2.7 metres at 336 metres, and 1.51% copper equivalent over 4.8 metres at 438 metres.

At Ridgetop, drilling returned 0.46% copper, 0.14 g/t gold, and 1.57 g/t silver (0.58% copper equivalent) over 69.6 metres from 13.7 metres. At Minto North, drilling returned 3.56% copper, 2.34 g/t gold, and 21.42 g/t silver (5.48% copper equivalent) over 3.7 metres within a broader interval of 1.29% copper equivalent over 21.7 metres from 195 metres. At Minto Main, drilling returned 2.93% copper, 1.50 g/t gold, and 16.37 g/t silver (4.19% copper equivalent) over 5.0 metres from 325.4 metres.

President and Chief Executive Officer of Selkirk Copper, M. Colin Joudrie, described the programme's achievements across the full mine footprint:

"The Phase 1 drill programme has achieved exceptional results at each of the five primary target areas within the mine footprint, expanding known zones of mineralisation, discovering several higher-grade copper-gold-silver intervals within known zones, discovering several new lenses of high-grade mineralisation, and discovering mineralisation at depths previously undrilled. The team successfully completed the largest drill programme in the Yukon over the last ten years and did so safely, on-budget, and on-schedule through one of the coldest falls and winters on record. These results are being incorporated into an updated Mineral Resource Estimate and Preliminary Economic Assessment that remains on track for completion in mid-2026."

New Lens Discoveries

Phase 1 identified two new mineralised lenses at depth at the Minto Project. The first, intersected beneath Area 118 resources by widely spaced drill holes, covers a footprint approximately 500 by 300 metres at depths between 100 and 140 metres below previously established resources. At 4 to 20 metres thick and within 300 metres of previous underground development, it potentially repeats a pattern of stacked mineralised lenses found elsewhere on the property, with additional drilling planned for Phase 2.

The second lens was delineated during Phase 1, situated underground between the Minto Main Pit and the Area 2 Pit. The lens features broad intervals of chalcopyrite mineralisation ranging from 20 to 90 metres thick, with weighted average copper grades of 0.3% to 0.7%. The delineated area measures approximately 300 by 250 metres, and the lens remains open to the west.

Phase 2 Programme: Launch & Productivity

The 50,000-metre Phase 2 drill programme commenced in May 2026, with four drills currently active across the Minto Project. In its first month, the programme completed 14,000 metres, representing 28% of the total planned footage. Drilling productivity has averaged 120 metres per day per drill, compared with 94 metres per day recorded during Phase 1.

The on-site team is expanding to support the programme's pace, with hiring and training of new personnel underway and additional equipment and supplies being obtained.

Joudrie addressed the opening pace of the programme:

"We could not have asked for a better start to the 50,000 metre Phase 2 drill programme with drill productivity exceeding already high performance from the Phase 1 drill programme."

Phase 2 Programme Scope & Feasibility Study Path

The Phase 2 programme is designed to support a planned feasibility study at the Minto Project, encompassing resource expansion, infill drilling, geotechnical drilling, and geometallurgical data collection. The combined data is intended to increase resource confidence and advance integrated mine planning.

The first batches of samples have been shipped off-site for laboratory analysis. Initial assay results are expected within eight weeks, with results from the full Phase 2 programme to be released throughout summer and autumn 2026.

Joudrie defined what the programme is built to deliver:

"The Phase 2 programme is designed to inform a planned feasibility study: in-fill drilling, resource definition, integrated mine planning, economic studies, and refinements to the restart development opportunity. The Phase 1 programme has proven that there is still significant discovery potential in the near-mine environment, and supports our view that our commitment to the Phase 2 programme, along with the first significant district and regional exploration in over a generation to be carried out this summer, will continue to deliver meaningful positive results for the Minto Project."

Next Steps

Initial Phase 2 assay results are expected within eight weeks, with full programme results to follow throughout summer and autumn 2026. Phase 2 includes planned additional drilling beneath Area 118 alongside continued infill, geotechnical, and geometallurgical work in support of a planned feasibility study.

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