King Copper Discovery Receives DIA Approval for 36,010-metre Drill Program at the Colquemayo Project
King Copper Discovery Receives DIA Approval for 36,010-metre Drill Program
at the Colquemayo Project
VANCOUVER, British Columbia, July 06, 2026 -- King Copper Discovery Corp. (“King Copper” or the “Company”) (TSX
-V: KCP, OTCQB: TBXXF, FSE: 3RI) is pleased to announce that it has received, through its 100%-owned subsidiary in Peru,
Aurora Copper Peru SAC, approval of its Declaración de Impacto Ambiental (“DIA”) for the Colquemayo Project (“Project”),
located in southern Peru.
The approval of the DIA represents a significant milestone in the advancement of the Colquemayo Project and provides the
environmental certification required to proceed toward the Company’s exploration and drilling activities. The permit authorizes
up to 36,010 metres of diamond drilling from 40 drill platforms comprising up to 59 drill holes.
The Company is fully funded for the 36,010-metre drill program.
Jonathan Richards, Chief Executive Officer, commented : “The approval of the DIA is the most important corporate
milestone achieved by the Company since acquiring Colquemayo. This approval represents a major step toward the
commencement of our planned drill program and advances us toward testing the geological model that underpins our
conviction in the Project. Historical drilling identified extensive copper mineralization across a large hydrothermal system,
including significant intercepts such as 237.3 metres with 2.4% copper in COQ-10-36. Our recent technical work, including the
relogging of over 20,000 metres of historical drill core and a comprehensive geological reinterpretation, has strengthened our
understanding of the Project and identified several priority targets for drill testing below the historic drilling. With this milestone
now achieved, we are advancing toward the next phase of exploration and the opportunity to drill test the broader copper
potential of Colquemayo.”
DIA Approval Highlights
The approved DIA authorizes:
• Up to 36,010 metres of diamond drilling
• Up to 59 drill holes from 40 drill platforms
• Exploration activities across multiple priority target areas identified through the Company’s geological reinterpretation
and targeting work
• Supporting infrastructure required to execute the planned exploration program
The approved exploration footprint provides King Copper with the flexibility to systematically evaluate multiple target areas
across the Colquemayo Project and execute a phased exploration strategy designed to target new discoveries within this large
copper system.
Chico Azevedo, VP of Business Development, commented: “The high-grade potential of the Colquemayo mineralized
system is illustrated by prior drilling that returned up to 15.15 metres of 27% copper, within a broader intercept of 237.3 metres
of 2.4% copper starting at a down-hole depth of 306.25 metres in hole COQ-10-36. The approval of the DIA is an important
milestone, and we thank the local communities for their support and collaboration throughout the permitting process. In
addition to targeting extensions to this high-grade epithermal mineralization, we intend to follow up on indications of an
underlying copper porphyry system identified in prior drilling. Our exploration model at Colquemayo draws on its similarities to
linked epithermal and porphyry systems in the Andes, a prime example being Filo del Sol in Argentina.”
Advancing the Colquemayo Copper Project
The Colquemayo Project is located in an area with copper-producing mines, including Cerro Verde, Quellaveco, Cuajone and
Toquepala, in one of the world's most prolific copper-producing regions. Historical exploration at Colquemayo identified
extensive high-grade enargite mineralization across multiple breccia-hosted zones below a lithocap extending approximately
12 kilometres in strike length and 3 to 4 kilometres wide.
Since acquiring the Project, King Copper has completed a comprehensive review of historical geological, geochemical and
drilling data, including detailed core relogging, geological reinterpretation and 3D geological modelling. This work has provided
valuable geological insights that have enhanced the Company’s understanding of the broader mineralized system and helped
identify several priority targets for follow-up drilling, including copper porphyry targets below the enargite breccias.
What the DIA Approval Enables
The approved 36,010-metre drill program is designed to:
• Drill test priority targets identified through geological reinterpretation, core relogging and geological modelling
• Evaluate mineralization below the depths tested by the historical drilling
• Advance the Company's understanding of the relationship between the extensive high-sulphidation epithermal system
and multiple underlying porphyry targets
A Major Milestone
The receipt of the DIA marks the culmination of extensive environmental, technical and stakeholder engagement efforts and
represents a critical step toward executing the Company's exploration strategy.
With this key permitting milestone achieved, King Copper is positioned to advance from project evaluation and target
generation toward active drill testing of the geological concepts that support the Company's exploration thesis at Colquemayo.
Next Steps
With the DIA now approved, the Company is advancing toward mobilization and execution of its planned 36,010-metre
exploration drilling program, including completion of the logistical and regulatory requirements. The Company appreciates the
constructive participation of local communities throughout the DIA permitting process, looks forward to continuing to work with
all stakeholders as the Project advances and remains committed to maintaining open and transparent engagement.
Additional details regarding program timing, target prioritization and operational planning will be provided as these activities
progress.
On behalf of the Company,
Jonathan Richards, Chief Executive Officer and Director.
Contact Information:
Harp Gosal | Director of Capital Markets & Communications
Website: www.kingcopperdiscovery.com
Address: #1212 - 1030 West Georgia St, Vancouver, BC V6E 3M5
For Investor Relations enquiries, please contact +1 604 218 1142
Statements
About King Copper Discovery Corp and Our Projects: King Copper is a TSXV-listed exploration company focused on the
Colquemayo copper-gold project in South America. The Company is led by a team responsible for multiple copper-gold-silver
discoveries.
Forward Looking Statement: This news release includes certain statements that may be deemed “forward-looking
statements”. All statements in this news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking statements, including the future commencement of
various exploration activities including drilling.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the
words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that
events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements include the receipt of regulatory
approvals, market prices, continued availability of capital and financing, and general economic, market or business conditions,
as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties
are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as
required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors, should change.
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 or has in any way
approved or disapproved of the contents of this press release.
Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by
Douglas Kirwin, M.Sc., FGS, FAusIMM (CP), FSEG, a technical advisor to the Company and a Qualified Person as defined by
National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").