Selkirk Copper Drills 9.3% Cu, 7.4 g/t Au and 54.9 g/t Ag (15.1% CuEq) over 5.4 Metres at Minto North as Part of the Ongoing Phase 2 Drill Program

In its first year of drilling, Selkirk completed 98,467 metres in 365 holes and invested approximately C$45M in mineral resource development.

Rhea-AI Summary

Selkirk Copper (SKRKF) reported a 15.11% copper-equivalent drill intercept at Minto North in its ongoing Phase 2 program. Hole 26SCM209 returned 9.27% copper, 7.43 g/t gold and 54.9 g/t silver over 5.4 metres at the southern edge of the 202 Lens. Other holes intersected mineralization at Area 118, Minto Main and Copper Keel. Two Minto Main holes had lower grades than expected, while some Copper Keel areas may not warrant inclusion in a mine plan.

By September 28, Phase 2 had drilled 52,485 metres in 224 holes, exceeding its 50,000-metre target. Selkirk expects drilling to continue until mid-October, with further assay results through fall and winter 2026. The company plans to use the drilling data in its upcoming feasibility study and is installing water-monitoring wells to inform amended permit applications. Regional exploration results remain pending.

9 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 5 points

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

Positive

• Moderate point15.11% copper-equivalent over 5.4 metres in a Minto North step-out hole.
• Minor pointSix of seven reported Minto North holes intersected mineralization.
• Minor pointAll five reported Area 118 infill holes intersected mineralization.
• Minor pointAll four reported Minto Main infill holes intersected mineralization.
• Minor pointFive of nine reported Copper Keel holes intersected mineralization.

4 minor points

• Minor point52,485 metres drilled in Phase 2 by September 28, exceeding the 50,000-metre target.
• Minor pointLower average drilling cost per metre in Phase 2 than in Phase 1.
• Minor point365 holes drilled over the first year, totaling 98,467 metres.
• Minor pointRegional exploration program completed to assess Selkirk's mineral claims.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Some Copper Keel areas have lower grades that may not warrant inclusion in a mine plan.
• Moderate pointApproximately C$45M invested in mineral resource development over the first drilling year.
• Minor pointTwo Minto Main holes returned grades lower than expected.
• Minor pointAdditional assays remain pending from drilling south of the high-grade Minto North intercept.
• Minor pointRegional exploration results remain pending.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Highlights

• Step-out drilling at Minto North intersected high-grade mineralization at the southern margin of this priority resource area:

  • 9.27% Cu, 7.43 g/t Au, and 54.9 g/t Ag (15.11% CuEq) over 5.4 m, as well as an additional interval of 0.97% Cu, 2.58 g/t Au, and 8.4 g/t Ag (3.11% CuEq) over 9.0 m, in drill hole 26SCM209

  • This hole ranks amongst the highest-grade intersections that has ever been drilled at Minto Property

• Infill drilling at Area 118 continues to delineate high-grade mineralization within 100 m of historical underground workings:

  • 2.54% Cu, 1.25 g/t Au, and 10.7 g/t Ag (3.45% CuEq) over 3 m, within a broader interval of 1.43% CuEq over 14.8 m, in drill hole 26SCM216

  • 1.61% Cu, 0.59 g/t Au, and 8.3 g/t Ag (2.03% CuEq) over 6.9 m, within a broader interval of 1.02% CuEq over 33.3 m, in drill hole 26SCM207

• Infill drilling at Minto Main intersected additional mineralization within the 114 and 117 Lenses:

  • 1.15% Cu, 0.43 g/t Au, 2.7 g/t Ag (1.42% CuEq) over 9.7 m, as well as a second interval of 0.83% Cu, 0.19 g/t Au, and 2.7 g/t Ag (0.94% CuEq) over 32.1 m, in drill hole 26SCM235

• Infill drilling at Copper Keel continues to delineate additional mineralization within the 101 Lens:

  • 1.30% Cu, 0.34 g/t Au, 3.4 g/t Ag (1.49% CuEq) over 7.0 m, within a broader interval of 0.94% CuEq over 18.0 m, in drill hole 26SCM238

Drilling Milestone Update

• In late August, Selkirk Copper marked a major milestone in drilling activities, recognizing one year of drilling completed since August 23, 2025. As of that date, the team has completed 365 diamond drill holes in 365 days, for a total of 98,467 metres in one year. This represents one of the largest single-year drill programs ever completed in Yukon history and represents approximately 200,000 person-hours and a ~C$45M investment in mineral resource development

• As of September 28, 2026, the Company has completed 52,485 meters of diamond drilling in 224 drill holes within its ongoing Phase 2 drill program

Investor Update and PEA Webinar

• Selkirk Copper will be hosting an Investor Update on Friday October 2, 2026 beginning at 11:00 am EDT/8:00 am PCT (selkirkcopper.com/webinar) to discuss the recently completed Preliminary Economic Assessment ("PEA"), providing insights into the positive results of Phase 1 Drill Program, Mineral Resource Estimate, engineering and development study work, and initial economics of the Minto Project

Vancouver, British Columbia and Pelly Crossing, Yukon--(Newsfile Corp. - September 29, 2026) - Selkirk Copper Mines Inc. (TSXV: SCMI) (FSE: IO20) (OTCQX: SKRKF) ("Selkirk Copper" or the "Company") is pleased to announce additional results from the Phase 2 drill program which commenced in May 2026, at the Minto Project in Yukon, Canada.

M. Colin Joudrie, President & CEO, commented: "As the Phase 2 drill program nears completion, the exploration and development team continues to delineate and expand a series of high-grade copper-gold-silver lenses in several zones across the mine site property. With the development of an enhanced structural model and refined targeting methodology, combined with a focused infill drill program designed to convert Indicated & Inferred Resources into Measured & Indicated Resources in support of the planned Feasibility study, we continue to upgrade our understanding of the overall Minto mineral system.

Results from the Phase 2 drill program, particularly high-grade copper-gold-silver intercepts at Minto North and Area 118, are an integral part of Minto Project restart plan providing the information necessary to inform and refine our upcoming Feasibility-level mine planning and development plans. The material being collected in the Phase 2 drill program, along with upgrading our resource modeling work, will be used for a geometallurgical test program that will increase our confidence in expected copper, gold, and silver recoveries.

In addition to expanding and refining our understanding of the mineral resources at the Minto Project, the exploration team is completing a series of geotechnical drill holes that inform and derisk mine development plans. A series of water monitoring wells are also being completed which will inform our amended permit applications as well as enhancing our ability to monitor and model water on site.

This multi-purpose Phase 2 drill program has greatly enhanced our understanding of the Minto Project and the information we are gathering continues to increase our confidence in our restart plan."

Leif Bailey, Director of Geoscience & Exploration added: "Completion of Selkirk Copper's first year of drilling is a major milestone for our team. The program represents one of the largest single year diamond drill programs ever completed in Yukon history. This accomplishment is the result of great work and considerable effort by a large and diverse team that came together quickly to work towards a common goal. The results of this drill program demonstrate that considerable potential still exists at Minto for discovery and delineation of high-grade copper, gold, and silver mineralization."

2026 Phase 2 Drill Program

The Phase 2 drill program was planned with a target of 50,000 metres focused on expansion, exploration, and infill drilling of key target areas, as well as geotechnical data collection to support the upcoming Feasibility Study.

Compared to the Phase 1 program, the Phase 2 program has had higher drilling productivity, increased efficiency of logistics to support drilling, and lower average cost per metre drilled. Because of these improvements, the Exploration team has identified opportunities to complete additional metres while remaining on-schedule and on-budget.

As of September 28^th, 52,485 metres of drilling has been completed in 224 drill holes, representing 105% of the planned meterage. The drill program is anticipated to continue until mid-October. During late August the scale of the program was reduced from four drill rigs to two drill rigs. The last portion of the drill program will be focused on geotechnical data collection, water monitoring well installations, and exploration of recently identified geophysical targets.

Reported here are results from holes drilled in June 2026. Turnaround time for assay results is currently approximately eight weeks. Assay results are expected to continue being released throughout the fall and winter of 2026.

Table 1: Summary of Phase 2 Drilling Completed by Location

Zone	Holes Completed	Meters Drilled	Holes with Assays Reported
Minto North	35	9,108	14
Minto East	14	3,866	3
Minto Main	37	10,309	10
Area 118	46	13,457	9
Copper Keel	47	10,481	17
Ridgetop	45	5,264	0
Total	224	52,485	53

 

Figure 1: Plan view of the Minto Mine Property showing surface projections of mineralized zones as well as Phase 1 and Phase 2 drill collars. Drill hole results presented in this release are highlighted

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_001full.jpg

Minto North Drill Results

At Minto North, the Phase 2 drill program is targeting infill and expansion of priority areas within the early planned life of mine, including the high-grade 202 Lens. Reported here are seven drill holes targeting the 202 Lens, including five infill holes and two holes targeting resource expansion. Six out of seven drill holes intersected significant mineralization.

Notable amongst these results is drill hole 26SCM209, which is a 35-metre step-out from previous drilling in the southern portion of the 202 Lens. This hole intersected two intervals of mineralization, including one of the highest-grade intercepts that has ever been drilled on the Minto Property: 9.27% Cu, 7.43 g/t Au, and 54.9 g/t Ag (15.11% CuEq) over 5.4 m. The grade of this intercept ranks within the 99^th percentile of all historical drilling at Minto, within a historical database of more than 4,300 significant intercepts. Peak values from individual one metre samples within this intercept include 17.5% Cu, 15.9 g/t Au, and 81.9 g/t Ag. The interval is comprised of semi-massive bornite, chalcopyrite, and magnetite within a migmatite host rock. Additional drilling has been completed southwards of hole 26SCM209, with assay results pending.

Also notable within these results is drill hole 26SCM224, which is a 35-metre step-out from previous drilling in the northwestern part of the 202 Lens. This hole returned an intersection of 1.25% CuEq over 17.6 m and demonstrates that the 202 Lens remains open for expansion towards the northwest. Additional drilling is proposed for this area to continue investigating the size potential of this priority mining area.

Results from holes 26SCM209 and 26SCM224 also indicate an apparent structural control on high-grade mineralization within the deposit area. Within the 202 Lens, higher-grade and thicker mineralization is observed to be focused along a north-northwest trend. Similar north-northwest trends of increased grade and thickness are observed elsewhere within the deposit area, including at Minto Main, Area 118, and Copper Keel. At a smaller scale, tight to isoclinal folds are commonly observed to have similar north-northwest trending fold axes. In some folds, accumulations of chalcopyrite and bornite occur within the north-northwest trending fold hinge. Figure 3 below depicts an example of one such isoclinal fold in the Minto Main area with chalcopyrite accumulation along the fold hinge. The exploration team is evaluating the hypothesis that high-grade mineralization such as seen in drill hole 26SCM209 may represent a larger-scale example of a structural control related to folding and deformation that localizes high-grade mineralization within the 202 Lens.

Figure 2: Cross section and plan view of drill holes intersecting the 202 Lens at Minto North

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_002full.jpg

Figure 3: Drill core photographs of massive sulphide mineralization at Minto North; and mineralization hosted within an isoclinal fold hinge at Minto Main

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_003full.jpg

Area 118 Drill Results

In Area 118, Phase 2 drilling is targeting expansion and delineation of several mineralized lenses located nearby existing underground development. Reported here are five drill holes targeting infill of modelled lenses, all of which intersected mineralization. The results confirm the modeled geometry and increase the confidence in grade estimation within these lenses.

Notable results reported here from Area 118 include hole 26SCM198, 26SCM207, and 26SCM216. These three holes targeted the 114 Lens in an area located within 100 metres of the existing underground decline. Previous mining activity occurred to the west of this area, as shown in Figure 4. Hole 26SCM198 indicates the potential for mineralization in this area to host significant grades, with an intercept of 1.53% Cu, 0.58 g/t Au, and 7.6 g/t Ag (1.94% CuEq) over 9.1 metres. Mineralization in this area remains open to the south and southeast and is an opportunity for further resource expansion.

Figure 4: Plan view of drill holes intersecting the 114 Lens in Area 118. Mineralization in this area remains open to the south and southeast of previous mining areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_004full.jpg

Minto Main Drill Results

In the Minto Main area, Phase 2 drilling is targeting expansion and delineation of mineralized lenses located between and beneath previous open pit and underground mining areas. Reported here are four drill holes targeting infill of the 114 and 117 Lenses. All four holes intersected mineralization, however the grade in two of these holes is lower than expected. The results confirm the modeled geometry and provide information to better constrain potentially economic mining areas within the mineralized lenses.

Drill hole 26SCM235 was designed to infill a 90-metre gap within the previous drilling in the central portion of the 117 and 114 Lens. This hole returned two significant intercepts, including an interval of 1.42% CuEq over 9.7 metres in the 114 Lens and an interval of 0.94% CuEq over 32.1 metres in the 117 Lens. Mineralization in both lenses is characterized by disseminated to folioform chalcopyrite and bornite within a foliated granodiorite host rock. Compared to other locations within the mine area, this location is characterized by a relatively weaker, diffuse foliation and disseminated mineralization. Additional drill results are pending in the Minto Main area.

Figure 5: Cross section view of hole 26SCM235 in the Minto Main area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_005full.jpg

Copper Keel Drill Results

At Copper Keel, Phase 2 drilling is targeting infill and expansion of several shallowly dipping mineralized lenses. Reported here are nine drill holes targeting the eastern portion of the 101 Lens within the Copper Keel resource area. Five of these holes intersected mineralization and confirmed modelled lens geometry.

Notable results reported here include hole 26SCM234, which returned an intercept of 2.29% CuEq over 5 metres; and hole 26SCM238, which returned an intercept of 0.94% CuEq over 18 metres. These results indicate that significant mineralization can occur within some portions of the Copper Keel area, however other areas contain lower grades that may not warrant inclusion into a mine plan. Additional geological modelling is planned to better constrain potentially economic domains within the Copper Keel area

Figure 6: Cross section view of Copper Keel, looking to the northeast

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11605/316476_798711394470796e_006full.jpg

Regional Exploration Update

A modest-sized program of helicopter-supported regional exploration was completed during July to September. This represents Selkirk Copper's first effort to evaluate a regional land package of 26,850 hectares of mineral claims located within a highly prospective district. This district contains numerous "Minto style" mineral occurrences comprising copper-gold mineralization hosted within the same host rocks as the Minto deposit. Many of the mineral occurrences within Selkirk Copper's mineral claims have not had any substantial exploration activity in more than ten years.

The objective of the 2026 exploration program was to begin an assessment of these mineral claims, utilizing knowledge and learnings from the deposit that can be applied across the district. The program included geological and structural mapping, geochemical soil sampling, and airborne geophysical surveys. A program of geochemical and geophysical orientation surveys was completed within the deposit area to help corroborate interpretation of regional results.

The airborne geophysical surveys included a QMAGT full-tensor magnetic gradiometric survey and also a QAMT passive airborne electromagnetic survey. Both surveys utilized Superconducting Quantum Interference Device (SQUID) sensors that are capable of very high detail and sensitivity. These survey instruments are new technologies that operationalize 20 years of research and testing. The QAMT survey completed at Minto represents one of the first-ever applications of this technology to a Canadian mineral exploration project.

Results of this regional exploration program are pending and interpretations will be ongoing this winter to develop targets for further assessment in 2027.

Table 2: Collar Locations and Header Information

Hole ID	Easting	Northing	Azi	Dip	EOH (m)	Zones	Category
26SCM198	384946	6944256	110	-54	279	118	Infill
26SCM199	385792	6943573	257	-80	216	Copper Keel	Infill
26SCM201	385797	6943566	220	-68	132	Copper Keel	Infill
26SCM203	384695	6944581	195	-86	330	Minto Main	Infill
26SCM206	385970	6943871	308	-71	288	Copper Keel	Infill
26SCM207	384946	6944259	91	-63	273	118	Infill
26SCM208	384696	6944584	171	-80	330	Minto Main	Infill
26SCM209	384002	6945908	178	-62	270	Minto North	Expansion
26SCM210	385970	6943871	305	-78	294	Copper Keel	Infill
26SCM211	384950	6944260	81	-53	375	118	Infill
26SCM212	384696	6944580	141	-75	354	Minto Main	Infill
26SCM213	384010	6945915	159	-67.5	234	Minto North	Infill
26SCM214	385970	6943872	283	-69.5	324	Copper Keel	Infill
26SCM215	384010	6945916	148	-80.5	249	Minto North	Infill
26SCM216	384946	6944260	78	-68	264	118	Infill
26SCM218	385971	6943871	273	-78.5	345	Copper Keel	Infill
26SCM219	384010	6945915	100	-78	261	Minto North	Infill
26SCM222	384007	6945916	14	-82.5	270	Minto North	Infill
26SCM224	383887	6945947	330	-62	207	Minto North	Expansion
26SCM230	385997	6943899	0	-75	120	Copper Keel	Expansion
26SCM231	383889	6945948	1	-63	237	Minto North	Infill
26SCM233	384778	6943980	118	-52	132	118	Infill
26SCM234	385681	6943616	9	-74	180	Copper Keel	Infill
26SCM235	384697	6944584	35	-74	369	Minto Main	Infill
26SCM238	385680	6943612	51	-71	195	Copper Keel	Infill
Coordinate System used for Drill Collar Easting and Northing is NAD 83 UTM Zone 8N.

 

Table 3: Significant Interval Table

Hole ID	From	To	Length (m)	Cu %	Au g/t	Ag g/t	CuEq %	Zone	Category
26SCM198	239.6	248.7	9.1	1.53	0.58	7.6	1.94	118	Infill
26SCM199	144.5	149.6	5.1	0.63	0.13	1.5	0.69	Copper Keel	Infill
26SCM201	No Significant Intercept							Copper Keel	Infill
26SCM203	303.0	319.0	16.0	0.39	0.14	1.5	0.48	Minto Main	Infill
26SCM206	No Significant Intercept							Copper Keel	Infill
26SCM207	238.0	271.3	33.3	0.83	0.28	3.8	1.02	118	Infill
incl.	239.1	246.0	6.9	1.61	0.59	8.3	2.03	118	Infill
26SCM208	299.0	312.2	13.2	0.57	0.21	2.0	0.72	Minto Main	Infill
26SCM209	170.0	179.0	9.0	0.97	2.58	8.4	3.11	Minto North	Expansion
and	215.9	224.0	8.1	6.62	5.09	38.7	10.61	Minto North	Expansion
incl.	218.6	224.0	5.4	9.27	7.43	54.9	15.11	Minto North	Expansion
26SCM210	No Significant Intercept							Copper Keel	Infill
26SCM211	18.0	23.0	5.0	0.11	1.16	4.1	1.11	118	Infill
26SCM212	289.9	302.3	12.4	0.75	0.45	3.9	1.09	Minto Main	Infill
26SCM213	207.2	223.3	16.1	1.19	0.31	6.0	1.39	Minto North	Infill
incl.	219.0	221.8	2.8	5.20	1.32	28.9	6.07	Minto North	Infill
26SCM214	313.3	319.2	5.9	0.40	0.11	0.9	0.46	Copper Keel	Infill
26SCM215	218.5	234.5	16.0	0.61	0.18	2.3	0.72	Minto North	Infill
26SCM216	230.1	244.9	14.8	1.07	0.51	4.5	1.43	118	Infill
incl.	241.9	244.9	3.0	2.54	1.25	10.7	3.45	118	Infill
26SCM218	310.1	315.0	4.9	0.54	0.13	1.2	0.60	Copper Keel	Infill
26SCM219	205.0	210.0	5.0	0.40	0.31	1.1	0.63	Minto North	Infill
26SCM222	212.0	263.9	51.9	0.38	0.14	1.7	0.47	Minto North	Infill
incl.	229.7	232.0	2.3	1.19	0.28	5.3	1.36	Minto North	Infill
26SCM224	182.0	199.6	17.6	1.00	0.37	3.9	1.25	Minto North	Expansion
incl.	190.7	196.4	5.7	1.59	0.61	5.0	1.99	Minto North	Expansion
26SCM230	No Significant Intercept							Copper Keel	Expansion
26SCM231	210.0	230.6	20.6	1.02	0.65	4.7	1.51	Minto North	Infill
26SCM233	32.2	37.0	4.8	0.91	0.01	1.3	0.84	118	Infill
26SCM234	105.4	110.4	5.0	2.00	0.54	4.5	2.29	Copper Keel	Infill
and	140.0	160.6	20.6	0.56	0.17	1.1	0.65	Copper Keel	Infill
26SCM235	273.0	281.7	8.7	0.71	0.16	1.7	0.79	Minto Main	Infill
and	300.4	310.1	9.7	1.15	0.43	2.7	1.42	Minto Main	Infill
and	325.0	357.1	32.1	0.83	0.19	2.7	0.94	Minto Main	Infill
26SCM238	140.0	158.0	18.0	0.82	0.21	1.9	0.94	Copper Keel	Infill
incl.	142.0	149.0	7.0	1.30	0.34	3.4	1.49	Copper Keel	Infill
CuEq Calculation: CuEq = ((Cu% × CuP × RCu × 22.0462)+(Au g/t ÷ 31.1035 × AuP × RAu) + (Ag g/t ÷ 31.1035 × AgP × RAg ))/(CuP × RCu × 22.0462) Where: CuP/AuP/AgP = USD$ commodity prices of $4.60/lb Cu, $3,300/oz Au, $40/oz Ag; RCu = Cu Recovery = 90%; RAu = Au Recovery = 80%; RAg= Ag Recovery = 80% Recoveries as estimated from historical mineral processing results.

 

Investor Update and PEA Webinar

Selkirk Copper will be hosting an Investor Update on Friday October 2, 2026 beginning at 11:00 am EDT/8:00 am PCT (selkirkcopper.com/webinar) to discuss the recently completed Preliminary Economic Assessment, providing insights into the positive results of Phase 1 Drill Program, Mineral Resource Estimate, engineering and development study work, and initial economics of the Minto Project. Colin Joudrie (President & CEO) and other members of Selkirk Copper's management team will discuss the significant strides the Company has made over the past 14-months and key areas of focus in the planned Feasibility Study. Participants will be able to submit questions they would like to have addressed during the event.

QAQC Procedures and Data Validation

The Company is drilling NQ-diameter core and completing geological logging and oriented core structural data collection. Following data collection, core is cut along the long axis, with half of the core going to the lab for chemical analysis and the remaining half kept in sequence as record. The half core samples are packaged with the corresponding sample tag id and sealed. All sampling is conducted by Selkirk Copper and is subject to Company standard internal quality control and quality assurance (QAQC) programs. QAQC procedures include the insertion of certified reference material, coarse blank materials, and field duplicate analysis, as well as standard laboratory procedures to monitor contamination during preparation, analytical accuracy, and precision. QAQC insertion rates by Selkirk Copper approximate 15% of all samples at set intervals.

For the Phase 2 drill program, all samples were sent to ALS's prep facility in Whitehorse, then shipped to ALS's analytical laboratory in Vancouver. All samples are prepared by crushing rock to 70% passing 2mm screen, then splitting a 250g sub-sample using a riffle splitter before being pulverized 85% passing 75 microns. Gold is analyzed by 30 g Fire Assay (Au-AA23) with atomic absorption (AAS) analysis followed by gravimetric finish for overlimit results. Copper is analyzed by four-acid digest (ME-ICP61) with inductively coupled plasma - atomic emission spectroscopy (ICP-AES) finish. If copper overlimit results are triggered a second four-acid digest for high grade copper (Cu-OG62) is conducted. Samples containing greater than 1000 ppm copper are also analyzed for soluble copper using a sulphuric acid leach (Cu-AA05) analysis with AAS finish. ALS Vancouver holds an ISO/IEC 17025 standard accreditation.

QAQC results are reviewed by Selkirk Copper upon receipt of assay results. Overall, QAQC results show strong analytical performance across Cu, Au, and Ag datasets. All control standards are within acceptable tolerance, with no significant outliers or systematic bias observed.

Primary intervals are reported as drill core length, with true widths estimated to be approximately 80 - 90% of core lengths, based on the sub-horizontal to shallow-dipping nature of the modelled mineralized zones.

Mineral Resource Estimate Details

The following table summarizes the current Minto Mineral Resource Estimate:

Table 4: Global Mineral Resource Estimate for the Minto Project (Effective Date: June 10, 2026)

Type	Cut	Class	ROM	In Situ Grade						Metal
	(CDN$)		Tonnage (000)	NSR (CDN$)	Cu (%)	Au (gpt)	Ag (gpt)	Ox Ratio	ASCu (%)	Cu (Mlbs)	Au (Koz)	Ag (Koz)
OP	$30	Indicated	21,779	$80.63	0.59	0.17	1.8	0.11	0.073	283	122	1,294
		Inferred	7,052	$74.61	0.55	0.13	1.6	0.08	0.048	85	30	354
UG	$80	Measured	348	$153.47	0.92	0.39	3.3	0.05	0.041	7	4	36
		Indicated	25,679	$189.20	1.15	0.49	4.4	0.06	0.067	650	404	3,638
		Inferred	9,812	$146.57	0.91	0.36	3.5	0.05	0.044	196	112	1,113
Total	Varies as  Above	Measured  + Indicated	47,806	$139.48	0.89	0.34	3.2	0.08	0.070	940	530	4,969
		Inferred	16,865	$116.48	0.76	0.26	2.7	0.06	0.046	281	142	1,467
Notes	The MRE has been completed by Sue Bird of Moose Mountain Technical Services (MMTS). The effective date of the resource is June 10, 2026 Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines. For the Net Smelter Proceeds (NSP) calculations: Metal prices are USD$4.60/lb Cu, USD$3,300/oz Au, USD$40/oz Ag; A currency exchange rate of 0.72 US$ per CAD$; 97.5% payable Cu, 98% payable Au and 92% payable Ag; and the following inputs: Concentrate grade of 38% Cu with a moisture content of 8%; Unit deductions of 1gpt Au, 30gpt Ag; Offsite costs (refining, transport and insurance) of US$200/dmt; Treatment for Cu Charges of USD$35/dmt, Refining Charges of USD$0.035/lb payable Cu, USD$5.00/oz Au and USD$0.50/oz Ag; Royalties of 1.5% NSR. Recoveries are as follows: CuRecov = 95.5%+1.07*Cu%-113*(ASCu/Total Copper), with a maximum of 98% AuRecov = 35.63+0.58032*Curecov-1.3341*Cu%^ 0.8932, with a maximum of 85% AgRecov = 69.4+1.9*Aggpt, to a maximum of 85% These inputs result in the following NSR and CuEq equations: NSR = CAD$CuNSP*CuRecov*Cu%*22.0462 + (CAD$AuNSP*AuRecov*Augpt + CAD$AgNSP*AgRecov*Aggpt)/31.10348 CuEq = NSR/(CuNSP*CuRecov*22.0462) The Mineral Resource has been confined by a "reasonable prospects of eventual economic extraction" pit or underground shape using the 130% base case NSR for the Ridgetop and Area 118 open pits and by confining shapes for the underground. Mining costs are CAD$4.58/tonne for open pit, marginal mining costs of CAD$50/tonne for underground, Processing costs are CAD$30/tonne milled, and G&A costs are CAD$20/tonne milled. Pit slope angles are assumed at 45º. The specific gravity of the deposit has been assigned based on domain as between 2.578 and 2.842 based on sg measurements in the Minto deposit. Oxide Ratio = ASCu / Total Copper Numbers may not add due to rounding. OP denotes Open Pit; UG denotes Underground

 

References

¹ See 2026-09-14 Technical Report "NI 43-101 2026 Mineral Resource Estimate Update for the Minto Property, Yukon, Canada" effective date 2026-06-10 filed by Selkirk Copper Mines Inc., available on SEDAR+ (sedarplus.ca).

Technical aspects of this news release have been reviewed, verified and approved by Leif Bailey, P.Geo., Director of Geoscience & Exploration of Selkirk Copper Mines Inc., who is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Selkirk First Nation

Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280 km north of Whitehorse. They are a self-governing First Nation, having signed its Final and Self-Government Agreements in 1997. Selkirk First Nation owns 4,740 square kilometers of Settlement Land, including 2,408 square kilometers where they own both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in the Yukon. The Selkirk First Nation, indirectly, holds a controlling equity stake in Selkirk Copper.

About Selkirk Copper

Selkirk Copper is a well-financed, newly formed company with a controlling interest held by the Selkirk First Nation through its wholly owned subsidiary, that, in partnership with the Selkirk First Nation, is completing a thorough exploration drilling campaign and a restart and redevelopment plan for the former Minto copper-gold-silver mine based on best-in-class environmentally sustainable mining, development and reclamation practice. Selkirk Copper controls 26,850 hectares of prospective mineral claims located in the Minto-Carmacks copper belt as well as significant open-pit and underground infrastructure, a 4,100 tonne per day processing plant, 400-person full-rotation camp, water treatment facilities, numerous ancillary buildings, and mobile equipment centered on the former Minto copper-gold-silver mine. Selkirk Copper's mineral tenure, operation infrastructure, access roads, and powerline is located on or adjacent to Lands of the Selkirk First Nation much of which is surrounded by prospective Selkirk First Nation Category A Lands.

Selkirk Copper Mines Inc. is listed on the TSX Venture Exchange under the symbol (TSXV: SCMI), has a secondary listing on the Frankfurt Exchange under the symbol (FSE: IO20), and its common shares trade under the symbol (OTCQX: SKRKF) on the OTCQX® Best Market, a U.S. marketplace operated by OTC Markets Group Inc.

On behalf of the Board of Directors of Selkirk Copper Mines Inc.

M. Colin Joudrie
President and Chief Executive Officer

For more information, please contact:

M. Colin Joudrie, President & CEO
colin.joudrie@selkirkcopper.com
(604) 760-3157

Justin Stevens, Vice-President Corporate Development
justin.stevens@selkirkcopper.com
(604) 240-2959

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words, or variations thereon or comparable terminology are intended to identify forward-looking information. The forward-looking information in this news release includes information relating to: Phase 2 drill results; the target mine life; metallurgical recoveries; potential for improvement in quality of the Company's mine plans; development of an updated mine plan and targeted mine life; the remainder of the Company's drill program and integrating results into ongoing studies results and the support of a feasibility study and the timing thereof; technical and economic factors that may influence prospects of economic extraction; the business plans and objectives of the Company; and future planned drilling and feasibility study work. Such forward-looking information is based on the Company's expectations, estimates and projections as at the date of this news release.

By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern, risks associated with potential governmental and/or regulatory action with respect to the Company's operations, delays in or the potential inability of the Company to obtain necessary regulatory approvals, fluctuations in the price of copper, gold and silver, environmental risks, the accuracy of capital and operating cost estimates, risks related to the condition of existing underground workings and rehabilitation requirements, risks related to metallurgical recovery assumptions and oxide ratio variability, risks related to the availability and retention of skilled personnel and contractors, the potential inability of the Company to implement its business plan going forward, including but not limited to completing the remainder of the Company's drill program, completing the PEA and Technical Report, and the development of an updated mine plan and targeted mine life. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: metal prices; exchange rates; metal recoveries; capital cost estimate accuracy; the timely receipt of necessary permits and regulatory approvals; the successful dewatering and rehabilitation of existing underground workings; the availability of financing on reasonable terms; and the Company's ability to execute on its business plans. The Company has also assumed that no significant events will occur outside the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316476

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Selkirk Copper's Minto North step-out hole find?

Hole 26SCM209 intersected 9.27% copper, 7.43 g/t gold and 54.9 g/t silver over 5.4 metres, equivalent to 15.11% copper. It was a 35-metre step-out from previous drilling in the southern portion of the 202 Lens and also intersected a separate mineralized interval.

What did Selkirk Copper's other Minto North step-out show?

Hole 26SCM224 intersected 1.25% copper-equivalent over 17.6 metres. It was a 35-metre step-out from previous drilling in the northwestern part of the 202 Lens. Selkirk said the lens remains open for expansion toward the northwest and proposed additional drilling there.

When are more Selkirk Copper Phase 2 assay results expected?

Selkirk expects further assay results through fall and winter 2026. The company reported an assay turnaround time of approximately eight weeks. Results were pending from additional drilling south of hole 26SCM209 and from the Minto Main area.