Kobrea Announces Approval of US$4 Million 2026/2027 Exploration Program: BHP-Funded Program to Include Diamond Drilling at El Destino Copper-Gold-Molybdenum Porphyry Prospect - Western Malargüe Mining District - Mendoza Province, Argentina

BHP Metals Exploration will fund the approved seasonal work under its exploration alliance with Kobrea.

Rhea-AI Summary

Kobrea Exploration (KBXFF) announced approval of a US$4 million exploration program for the 2026/2027 season at its Western Malargüe Copper Projects.

BHP Metals Exploration will fund the program under its exploration alliance with Kobrea. The alliance's Management Committee approved the work and budget for the Project Generation Phase in Mendoza Province, Argentina. Planned work includes diamond drilling at El Destino, a copper-gold-molybdenum prospect, and induced polarization surveys, an electrical geophysical method, at El Destino and KBX-17.

The program will evaluate the broader 733 km² land package through geological mapping, rock-chip and stream sediment sampling, and hyperspectral analysis. It also includes reconnaissance of newly identified prospects and selected sampling to determine geological ages. Kobrea's stated objective is to advance the land package toward discovery.

4 points · 1 major

PositiveiHow this balance works

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Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.US$4 million exploration program approved for 2026/2027, with funding from BHP Metals Exploration under the alliance. 34% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Diamond drilling at El Destino is planned to advance the copper-gold-molybdenum prospect.
• Minor point. Forward-looking: it has not happened yet and may not happen.Induced polarization surveys are planned at the El Destino and KBX-17 prospects.
• Minor point. Forward-looking: it has not happened yet and may not happen.District-scale exploration will evaluate the 733 km² land package through mapping, sampling, hyperspectral analysis and reconnaissance.

Negative

• None.

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Vancouver, British Columbia--(Newsfile Corp. - September 30, 2026) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") is pleased to announce that the Management Committee established under its exploration alliance with BHP Metals Exploration Pty Ltd. ("BHP Metals Exploration") has approved a US$4 million Work Program and Budget for the 2026/2027 exploration season at the Company's Western Malargüe Copper Projects in Mendoza Province, Argentina.

The US$4 million exploration program will be funded by BHP Metals Exploration in accordance with its alliance agreement with Kobrea and will be conducted during the Project Generation Phase (see the Company's August 5^th, 2026 news release for details). The program is designed to advance known porphyry copper targets and systematically evaluate the broader 733 km² land package for additional prospects. Exploration activities include property-wide geochemical sampling, geological mapping and ground geophysical surveys at various porphyry prospects, as well as diamond drilling at the El Destino copper-gold-molybdenum porphyry prospect.

Highlights of the 2026/2027 Exploration Program:

• Diamond drilling at the El Destino porphyry copper-gold-molybdenum prospect
• Induced Polarization ("IP") at the El Destino and KBX-17 prospects
• Rock-chip sampling and geological mapping at known porphyry prospects
• Reconnaissance-level exploration of newly identified porphyry prospects
• Property-wide hyperspectral analysis and interpretation
• Property-wide stream sediment sampling program
  • Fine-fraction stream sediment sampling for multi-element analysis
  • Heavy Mineral Concentrates for potential indicator mineral identification and characterization
  • Sampling at select sites for geochronological analysis

"The approval of this US$4 million exploration program allows us to move into a comprehensive summer field season across the Western Malargüe Copper Projects," commented James Hedalen, CEO of Kobrea. "The program combines district-scale exploration designed to identify and advance additional porphyry targets with diamond drilling at El Destino, one of the priority targets identified by our technical teams. With BHP Metals Exploration funding the program under our exploration alliance, our objective is to systematically advance this large land package toward discovery."

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Rory Ritchie, P.Geo., VP - Exploration and Director of Kobrea and a Qualified Person under National Instrument 43-101.

About BHP Metals Exploration

BHP Metals Exploration is part of BHP and is responsible for identifying and evaluating new mineral exploration opportunities that can support the future growth of the business.

BHP is a global resources company that produces commodities essential to the world, including iron ore, copper, and metallurgical coal, and soon potash. With operations and projects in more than 90 countries, BHP is the world's largest copper producer. The company maintains an unwavering commitment to safety, operational excellence, disciplined capital allocation, and the creation of long-term value for its shareholders, employees, partners, and communities. BHP's purpose is to bring people and resources together to build a better world. For more information, visit bhp.com.

About Kobrea

Kobrea Exploration Corp. is a mineral exploration and development company focused on the acquisition and exploration of base metal projects. Kobrea holds the right to earn a 100% interest in 7 projects totaling over 733 km2 in southwestern Mendoza Province, Argentina (see the Company's August 19, 2024 news release for details). The properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper targets have been outlined to date exhibiting multi-kilometre hydrothermal alteration footprints, anomalous copper ± gold ± molybdenum geochemistry, quartz stockwork veining, localized hydrothermal breccias and Miocene aged dacitic to dioritic porphyry intrusions. Kobrea also holds a 100% interest in the Upland Copper Project in British Columbia, Canada.

For more information, please consult the Company's filings, available at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Per: "James Hedalen"
James Hedalen
CEO & Director

Contact Information

James Hedalen
CEO & Director
Mobile: (778) 322-9066
Email: James@kobreaexploration.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company, including statements respecting (i) the planned US$4 million 2026/2027 exploration program, including its scope, budget, and anticipated activities, (ii) the proposed diamond drilling at the El Destino prospect and other planned exploration activities, (iii) the Company's exploration strategy and objectives for the Western Malargüe Copper Projects, and (iv) the expectation that BHP Metals Exploration will fund the program under the Alliance Agreement. These forward-looking statements generally are identified by words such as "believe," "project," "aim," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, but not limited to, BHP Metals Exploration ceasing to fund exploration expenditures in accordance with the terms of the Alliance Agreement; inability to obtain required permits and financing; changes in exploration plans or budgets; risks related to exploration activities in Argentina; and the interpretation of exploration results. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316688

FAQ

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Who will fund Kobrea's US$4 million 2026/2027 exploration program?

BHP Metals Exploration will fund the US$4 million program under its exploration alliance with Kobrea. The alliance's Management Committee approved the work and budget, which will be conducted during the Project Generation Phase.

Where does Kobrea plan diamond drilling in its 2026/2027 exploration program?

Kobrea plans diamond drilling at the El Destino copper-gold-molybdenum prospect within its Western Malargüe Copper Projects in Mendoza Province, Argentina. The program also includes induced polarization surveys at El Destino and KBX-17.