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• The 2026 Minto resource estimate establishes 47.8 million tonnes of measured and indicated resources at 0.89% copper, 0.34 grams per tonne (g/t) gold, and 3.2 g/t silver, a 280% increase in tonnage over the 2025 estimate.
• Contained measured and indicated metal rises to 940 million pounds of copper, 530,000 ounces of gold, and 4.97 million ounces of silver, increases of 182%, 184%, and 188% respectively.
• The measured and indicated total splits into 26.0 million tonnes of higher-grade underground resources at 1.14% copper and 21.8 million tonnes of open-pit resources at 0.59% copper. 
• A further 16.9 million tonnes of inferred resources grade 0.76% copper, 0.26 g/t gold and 2.7 g/t silver, holding 281 million pounds of copper.
• Roughly half of the indicated expansion came from new and expanded high-grade lenses drilled in Phase 1, and half from higher metal prices and updated design assumptions.
• The estimate informs an updated preliminary economic assessment (PEA) toward a targeted 12- to 15-year mine life at 4,100 tonnes per day, with a feasibility study scheduled to start in the third quarter of 2026.

Company Overview 

Selkirk Copper Mines (TSXV: 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.  

An Updated Resource for the Minto Project 

The 2026 mineral resource estimate for the Minto Project in Yukon, Canada, carries an effective date of June 10, 2026, and is being used to develop an updated preliminary economic assessment (PEA). It establishes 47.8 million tonnes of measured and indicated resources at 0.89% copper, 0.34 grams per tonne (g/t) gold, and 3.2 g/t silver, a 280% increase in tonnage in those categories over the 2025 estimate. Mineralisation remains open laterally and at depth across the central mine area, with several high-potential targets identified for future work. 

The estimate uses metal price assumptions of US$4.60 per pound for copper, US$3,300 per ounce for gold, and US$40 per ounce for silver, with open-pit and underground net smelter return cut-offs of CAD$30 and CAD$80 per tonne. It was prepared by Sue Bird of Moose Mountain Technical Services, independent of Selkirk Copper. A supporting technical report will be filed on the company's website within 45 days, and the company's previous technical reports, including the 2025 estimate, are no longer current. 

Underground and Open-Pit Resources

Within the measured and indicated category, the underground resource holds 26.0 million tonnes grading 1.14% copper, 0.49 g/t gold and 4.4 g/t silver, while the open pit adds 21.8 million tonnes grading 0.59% copper, 0.17 g/t gold and 1.8 g/t silver. A small number of measured resources have been established for some underground mining areas, indicating a higher level of confidence.

The inferred category totals 16.9 million tonnes at 0.76% copper, 0.26 g/t gold, and 2.7 g/t silver, containing 281 million pounds of copper, 142,000 ounces of gold, and 1.5 million ounces of silver. That inferred total comprises 9.8 million tonnes of underground material at 0.91% copper and 7.1 million tonnes of open-pit material at 0.55% copper.

Four Areas of Expansion and Discovery   

Phase 1 drilling delivered resource growth at four locations. At Minto North, a higher-grade lens expanded by 238% in indicated contained copper against the 2025 estimate, with the indicated resource there averaging 1.39% copper, 0.75 g/t gold, and 6.57 g/t silver. At Minto Main, indicated and measured resources were established for the first time in an area with only sparse historical drilling, and the mineralisation remains open to the west and northwest.   

At Area 118, a new discovery beneath previously known resources and close to existing underground workings has outlined a large inferred resource, now a priority infill target for Phase 2. At Ridgetop, a group of stacked, near-surface lenses within the open-pit resource expanded by 255% in indicated contained copper. Across the deposit, multiple mineralised lenses occur over an area of about 3 by 3 kilometres and extend to at least 650 metres below the surface.

Drilling Behind the Estimate    

The 2026 estimate is supported by Phase 1 drilling of 52,288 metres across 175 holes, alongside historical work, for a total database of 428,388 metres across 1,956 holes. The company reports that roughly half of the overall expansion of indicated resources came from exploration success through drilling, with the other half from higher metal prices and changes to design-basis assumptions that lifted lower-grade material above the cut-off. 

Results from the ongoing Phase 2 programme are not included in this update. That 50,000-metre programme is 75% complete, with 37,000 metres drilled to date, and initial assays and visual logs continue to show expansion potential across the mineralised zones in the central mine area. 

Next Steps  

An updated mine plan is being developed as part of the PEA, aiming to maximise value from the 2026 estimate toward the targeted 12 to 15 year mine life at 4,100 tonnes per day of mill feed. Phase 2 drilling continues to target the inferred resources at a spacing similar to the indicated material and to support a feasibility study scheduled to start in the third quarter of 2026. 

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

"Growing the Measured and Indicated Resource category by 280% in our Phase 1 drill program demonstrates the significant potential to grow mineable resources within the Minto Mine Property in a cost-effective and timely manner."  

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