Selkirk Copper Reports Initial Phase 2 Drill Results at Minto & Begins Feasibility-Study Field Work

• Selkirk Copper's 50,000 metre Phase 2 drill programme at the Minto Project is running ahead of schedule, with 27,300 metres completed across 104 holes in the first 2 months.
• A 50-metre step-out at Minto East returned 2.33% copper, 1.98 grams per tonne gold, and 22.3 grams per tonne silver over 4.3 metres.
• A 30-metre step-out at Minto North returned 2.22% copper, 0.41 grams per tonne gold and 5.3 grams per tonne silver over 4.5 metres, within a broader 11.9-metre interval.
• Infill drilling at the 117 Lens returned 1.02% copper, 0.35 grams per tonne gold, and 4.2 grams per tonne silver over 22.7 metres from 316.9 metres depth.
• Technical field data collection has begun to support a planned feasibility study (FS), and the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) are targeted for completion in the second half of July 2026.

Company Overview

Selkirk Copper Mines (TSX-V: SCMI | OTCQB: SKRKF | FRA: IO20) 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 holds a controlling interest in the company. Selkirk Copper controls 26,850 hectares of mineral claims in the Minto-Carmacks copper belt, along with existing open-pit and underground infrastructure, including a 4,100-tonne-per-day processing plant and a 400-person camp.    

Phase 2 Drill Programme 

Four drill rigs began the Phase 2 programme on May 1, 2026, targeting 50,000 metres of expansion, exploration, and infill drilling to grow and add confidence to key resource areas. As of June 30, 27,300 metres had been completed in 104 holes, or 54% of the plan, with the results reported here covering the first 9 holes drilled in May. Drill rates have reached up to 220 metres per day for a single rig and have averaged approximately 120 metres per day, while assay turnaround is currently 6 to 8 weeks. 

President and Chief Executive Officer of Selkirk Copper, M. Colin Joudrie, is direct about the programme's pace:

"Excellent drill productivity has the Phase 2 program completing well ahead of schedule, which further demonstrates the team's ability to execute our planned work on time and below budget."

Exploration Results at Minto North & Minto East  

At Minto North, 3 holes tested the 120 Lens, an area not previously drilled by Selkirk Copper, and the site of the first oriented-core structural data collected there. A 30-metre step-out returned 2.22% copper, 0.41 grams per tonne gold, and 5.3 grams per tonne silver over 4.5 metres, within a broader interval of 1.16% copper, 0.31 grams per tonne gold, and 3.2 grams per tonne silver over 11.9 metres. The high-grade zone remains open to the west. 

At Minto East, 3 holes were drilled from a single collar at different azimuths, cutting narrow, high-grade intervals at depths of roughly 70 to 140 metres. A 50-metre step-out returned 2.33% copper, 1.98 grams per tonne gold, and 22.3 grams per tonne silver over 4.3 metres, with 2 shorter intervals grading 3.38% and 3.53% copper equivalent over about 2 metres each. The company interprets these results as high-grade mineralisation extending beyond the limits of previous mining in the Minto Main area.

Infill Results Near Existing Infrastructure 

Infill drilling targeted 2 newly discovered lenses close to existing underground infrastructure, both of which the company frames as potential low-cost additions to the restart mine plan. At the 117 Lens in the Minto Main area, a hole returned 1.02% copper, 0.35 grams per tonne gold, and 4.2 grams per tonne silver over 22.7 metres from a depth of 316.9 metres, confirming grade continuity and thickness, with the lens open to the north.   

At the 301 Lens in Area 118, immediately adjacent to the underground mine portal, a hole intersected 0.69% copper equivalent over 29.1 metres and 0.54% copper equivalent over 14.3 metres. The company described these results as marginally economic in that location and has focused subsequent drilling on the 301 Lens.    

Technical Data Collection & Sampling

Alongside the drilling, Selkirk Copper has begun a technical field data collection programme to inform a planned feasibility study (FS). The work includes geotechnical drilling and test pitting, geometallurgical sampling and testwork, structural geological modelling with oriented-core logging, downhole surveys, and ongoing environmental baseline monitoring across the project area.

Samples for the Phase 2 programme were prepared at ALS in Whitehorse and assayed at ALS in Vancouver under a quality assurance and quality control programme, with control-sample insertion at approximately 15% of all samples. Primary intervals are reported as drill-core length, with true widths estimated at approximately 90% of core length based on the shallow-dipping nature of the mineralised zones. 

Next Steps 

Drilling is expected to continue until approximately late August, with assay results released through the summer and fall of 2026. The updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) are targeted for completion in the second half of July 2026. The planned FS is expected to commence in the third quarter of 2026 and to be completed in mid-2027. 

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