Kobrea Provides Update on Drill Program at El Perdido Porphyry Copper-Gold-Molybdenum System - Mendoza Province, Argentina

Rhea-AI Summary

Kobrea (OTCQB: KBXFF) reports progress at the El Perdido porphyry copper-gold-molybdenum system in Mendoza Province, Argentina. Initial holes DD26ELP001–DD26ELP003 were drilled to 603m, 474m and 662m; DD26ELP004 was abandoned at 200m after hitting a major fault zone.

The company observed chalcocite enrichment to 168m, shipped core to Alex Stewart International in Mendoza, engaged Major Drilling Argentina to continue work and began drill pad #3 construction.

Positive

• Drill holes DD26ELP001–003 reached 603m, 474m, 662m
• Observed chalcocite enrichment to 168m, confirming enrichment zone
• Engaged Major Drilling Argentina to resume and extend drilling
• Construction started on drill pad #3 to expand testing area

Negative

• Drill hole DD26ELP004 abandoned at 200m due to unstable rock in a large fault zone
• Technical complications may delay completion of the original 600m target for DD26ELP004

Vancouver, British Columbia, April 9, 2026 ---(Newsfile Corp. - April 9, 2026) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") provides an update on ongoing drilling activities at El Perdido. Kobrea holds the right to earn a 100% interest in 7 projects totaling 733 km² in southwestern Mendoza Province, Argentina (see the Company's August 19, 2024 news release for details).

The initial three diamond drill holes at the El Perdido porphyry copper-gold-molybdenum prospect had target depths of 500 metres each. Drill holes DD26ELP001, DD26ELP002 and DD26ELP003 were drilled to depths of 603 metres, 474 metres and 662 metres, respectively. Drill hole DD26ELP004 had a target depth of 600 metres but was abandoned at a depth of 200 metres due to technical complications related to unstable rock conditions associated with a significant fault zone. All core samples from drill holes DD26ELP001 through DD26ELP004 have been shipped to Alex Stewart International's laboratory in Mendoza City and the Company is awaiting analytical results.

"Despite complications associated with the drilling of hole DD26ELP004, drilling continues at the El Perdido porphyry system," stated James Hedalen, CEO. "We have intersected a copper bearing porphyry system in the first regional target tested. We intend to drill as much as we can before the winter season sets in."

Drill hole DD26ELP004 drilled through 128 metres of leached intrusive rock before intersecting intermittent chalcocite enrichment coating, and in cases, replacing primary sulphides comprised dominantly of pyrite with lesser chalcopyrite. Chalcocite enrichment was observed to 168 metres where a large gougy to rubbly fault zone persisted until 200 metres where the hole was abandoned.

"The presence of chalcocite as observed in drill hole DD26ELP004 confirms the presence of a chalcocite enrichment zone preserved at El Perdido," comments Rory Ritchie, Vice-President of Exploration. "Given the degree of leaching in the upper portions of the system, that was originally hypothesized but not certain. Drill hole DD26ELP004 has confirmed our target model. As we continue in the early phases of a diamond drilling program, with the goal of qualifying the porphyry system at El Perdido, we are confident we will observe chalcocite in other areas, beneath the leached capping, enriching hypogene sulphide mineralization beneath."

Furthermore, the Company is pleased to announce it has engaged Major Drilling Argentina ("Major") to finish the 2026 drilling program. Major commenced drill hole DD26ELP005 on April 1, 2026 at drill pad #2 to complete the original objective of drill hole DD26ELP004 (Figure 1). Drill hole DD26ELP004 was designed to extend a mineralized zone encountered in drill hole DD26ELP001 to depth. This zone comprised strong pyrite-chalcopyrite-molybdenite stockwork veining within potassically altered early mineral quartz diorite porphyry. In addition, crews have commenced the construction of a third drill pad which will facilitate additional drilling, providing the ability to test the southwestern portion of the El Perdido porphyry system (Figures 1-3).

Figure 1 - Plan map showing drillhole traces at El Perdido porphyry system.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/291715_55fdebf144ff4804_001full.jpg

Figure 2 - Photograph showing construction of drill pad #3 at El Perdido porphyry system.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/291715_55fdebf144ff4804_002full.jpg

Figure 3 - Early quartz diorite porphyry with strong A veining exposed along road segment to drill pad #3.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/291715_55fdebf144ff4804_003full.jpg

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 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: the purpose, target depth, and expected results of drill hole DD26ELP005 at the El Perdido porphyry copper-gold-molybdenum system; the Company's ability to complete its 2026 drilling program prior to the onset of the winter season in Mendoza Province, Argentina; anticipated exploration activities, including the construction and use of the third drill pad and further drilling to test the southeastern portion and the magnetic high anomaly of the El Perdido porphyry system; the potential presence, extent, and grade of chalcocite enrichment zones, hypogene sulphide mineralization, and potassic alteration at El Perdido; the receipt and interpretation of analytical results from Alex Stewart International's laboratory in Mendoza City for core samples from drill holes DD26ELP001 through DD26ELP004; the Company's ability to earn a 100% interest in its project portfolio in Mendoza Province, Argentina; and the prospectivity of the Company's mineral properties for porphyry copper, copper-gold, and copper-gold-molybdenum deposits. 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. Forward-looking statements are based on the Company's current expectations, beliefs, assumptions, estimates, and projections about the Company and the mineral exploration industry as of the date of this news release. Such assumptions include, without limitation: the accuracy of the Company's geological interpretations and models; the ability of Major to complete planned drilling operations in a timely and cost-effective manner; the availability and performance of laboratory services; the absence of material adverse changes in metal prices, foreign exchange rates, or economic and political conditions in Argentina; the Company's ability to obtain and maintain all required permits, approvals, and surface access rights; the reliability and accuracy of existing historical ground magnetic data and other technical data; and the absence of unforeseen technical complications, including unstable ground conditions, fault zones, or equipment failure. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and the Company cannot guarantee that actual results will be consistent with these forward-looking statements. By their very nature, forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to differ materially from those anticipated or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the inherent risks and hazards associated with mineral exploration and development, including unexpected variations in mineralization, grade, or recovery rates; technical difficulties and operational disruptions, including unstable rock conditions, fault zones, or equipment failures such as those encountered during the drilling of DD26ELP004; failure to obtain satisfactory analytical results from core samples currently being processed; inability to complete the 2026 drilling program before seasonal weather conditions prevent further operations; changes in project parameters as plans continue to be refined; costs and timing of development of new deposits; the speculative nature of mineral exploration and the uncertainty of mineral resources; fluctuations in commodity prices, including copper, gold, and molybdenum; political, regulatory, and social risks associated with mineral exploration and development activities in Argentina, including changes in laws, regulations, or government policies; currency exchange rate fluctuations affecting the cost of operations; inability to obtain required permits, authorizations, or surface rights on acceptable terms or at all; competition for financing, equipment, and qualified personnel; reliance on key personnel and third-party contractors; title defects or challenges to mineral property interests; and such other risks and uncertainties described from time to time in the Company's public disclosure documents filed with applicable securities regulatory authorities and available under the Company's SEDAR+ profile at www.sedarplus.ca. The foregoing list of risk factors is not exhaustive. Investors are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. 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/291715

FAQ

What depths did Kobrea reach in the first El Perdido drill holes (KBXFF) on April 9, 2026?

The company drilled DD26ELP001 to 603m, DD26ELP002 to 474m and DD26ELP003 to 662m. According to the company, these were the initial regional test holes at El Perdido.

Why was drill hole DD26ELP004 at El Perdido (KBXFF) abandoned at 200m?

DD26ELP004 was abandoned at 200m because crews encountered unstable rock related to a significant fault zone. According to the company, drilling complications prevented reaching the original 600m target.

Did Kobrea (KBXFF) find any mineral enrichment in the El Perdido drilling?

Yes. The company observed chalcocite enrichment to 168m, indicating a preserved enrichment zone. According to the company, this supports the targeted porphyry enrichment model beneath leached capping.

How is Kobrea (KBXFF) advancing the 2026 El Perdido drill program after setbacks?

Kobrea engaged Major Drilling Argentina and commenced DD26ELP005 on April 1, 2026 to complete the original target. According to the company, crews also began constructing drill pad #3 to expand testing.

Where were El Perdido core samples from Kobrea (KBXFF) sent for analysis?

All core from DD26ELP001–DD26ELP004 were shipped to Alex Stewart International in Mendoza City for analytical testing. According to the company, results are pending from the laboratory.