Koryx Copper Inc. (TSX-V: KRY) is pleased to announce that it has closed its previously announced sidecar non-brokered private placement offering to predominantly Namibian institutional and retail investors, of an aggregate 2,040,816 common shares of the Company at a price of C$2.45 per Common Share for aggregate gross proceeds to the Company of C$5,000,000. The terms are consistent with the CAD$46M Bought Deal financing announced on January 6, 2026 and closed on January 20, 2026.

The Company paid finder’s fees of C$150,000 to Cirrus Capital (Pty) Ltd in connection with the Placement. The Company intends to use the net proceeds of the Placement to advance technical studies on the Haib Copper Project and continue exploration on the property, working capital and general corporate purposes. All Common Shares issued under the Placement will be subject to a hold period expiring four months and a day from the date of issuance.

The Placement remains subject to the final approval of the TSX-V Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Koryx Copper Inc.

Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date.

Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 511Mt @ 0.33% Cu and 51ppm Mo for 1,668kt of contained copper and 25.9kt contained Mo in the Indicated category and 308.9Mt @ 0.31% Cu and 40ppm Mo for 949Mt of contained copper and 12.4kt contained Mo in the Inferred category (0.15% Cu cut-off).

Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment.

Further details of the Haib Copper Project are available in the corresponding technical report titled, “Preliminary Economic Assessment of the Haib Copper Project, Namibia, National Instrument 43-101 Technical Report” dated effective October 8, 2025. The Technical Report and other information is available on the Company’s website at https://koryxcopper.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca.

More information is available by contacting the Company:

ON BEHALF OF THE BOARD OF DIRECTORS
“Heye Daun”, President & CEO

Julia Becker
Corporate Communications
jbecker@koryxcopper.com
+1-604-785-0850