Koryx Copper Announces Closing of C$5 Million Sidecar Namibian Non- Brokered Private Placement FOR Total Financing of C$51 Million
KORYX COPPER ANNOUNCES CLOSING OF C$5 MILLION SIDECAR NAMIBIAN NON-
BROKERED PRIVATE PLACEMENT FOR TOTAL FINANCING OF C$51 MILLION
Not for distribution to United States newswire services or for dissemination in the United States.
Vancouver, British Columbia – January 26, 2026 – Koryx Copper Inc. (the “Company”) (TSX-V: KRY) is pleased
to announce that it has closed its previously announced sidecar non-brokered private placement offering (the
“Placement”) to predominantly Namibian institutional and retail investors, of an aggregate 2,040,816
common shares of the Company (the “Common Shares”) 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 TSXV Venture Exchange (the “TSXV”).
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 (as defined in Regulation S under the U.S.
Securities Act) 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 includi ng
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 su bjected 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.
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Further detai ls 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"). 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
+1-604-785-0850
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
This press release contains "forward -looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, statements regarding the use
of proceeds from the Company's recently completed financings and the future or prospects of the Company.
Generally, forward-looking information can be identified by the use of forward -looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates ", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forwar d-looking statements are necessarily based upon a number of assumptions that, while
considered reasonable by management, are inherently subject to business, market, and economic risks,
uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially
different from those expressed or implied by forward -looking statements. Although the Company has
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking information, other factors may cause results not to be as anticipated, estimated,
or intended. There can be no assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those a nticipated in such statements. Accordingly, readers should
not place undue reliance on forward -looking information. Other factors which could materially affect such
forward-looking information are described in the risk factors in the Company's most recent annual
management discussion and analysis. The Company does not undertake to update any forward -looking
information, except in accordance with applicable securities laws.