Koryx Copper Announces Further Positive Drill Results at the Haib Copper Project, Southern Namibia
Koryx Copper Inc.
Suite 888, 700 West Georgia Street,
Vancouver. BC, V7Y 1G5
Canada
KORYX COPPER ANNOUNCES FURTHER POSITIVE DRILL RESULTS
AT THE HAIB COPPER PROJECT, SOUTHERN NAMIBIA
Highlights
• Assays reported for a further 17 drill holes for 5,556m of diamond drilling.
• Results received are consistent and confirm mineralisation in the Target areas with Cu grades in line
with and in some cases above the average mineral resource estimate (“MRE”):
• Best intercepts received are as follows:
• HM96: 40m @ 0.37% Cu (4 to 44m)
116m @ 0.36% Cu (228 to 344m)
• HM76: 50m @ 0.33% Cu (102 to 152m)
7m @ 0.37% Cu (216 to 223m)
• HM78: 36m @ 0.33% Cu (86 to 122m)
• HM79: 96m @ 0.31% Cu (74 to 170m)
• HM81: 12m @ 0.49% Cu (182 to 194m)
• HM83: 34m @ 0.35% Cu (10 to 44m)
• HM84: 38m @ 0.33% Cu (4 to 42m)
• Hm86: 30m @ 0.33% Cu (68 to 98m)
92m @ 0.32% Cu (252 to 344m)
• HM91: 52m @ 0.36% Cu (18 to 70m)
46m @ 0.34% Cu (126 to 172m)
• HM100: 30m @ 0.33% Cu (180 to 210m)
10m @ 0.48% Cu (374 to 384m)
• Four additional man portable rigs have arrived in Namibia and are in transit to the site and will
commence drilling in October , bringing the total rig count to eight rigs on the resource drill
program and 2 rigs on Geotech drilling.
• Relogging and geological interpretation focussed on lithology, structure and modelling of Mo and
Au by-products was completed and is currently being used for updated models.
Vancouver, B.C., Canada – October 28, 2025 – Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) is
pleased to announce assay results from 17 drill holes (5,556m) received as part of the Phase 2 and 3 drill
program for its 2025 exploration and project development strategy on the wholly-owned Haib Copper Project
(“Haib” or the “Project”) in southern Namibia. Haib is an advanced-stage Cu/Mo/Au project that is envisaged
to produce a copper concentrate via a conventional crushing/milling/flotation metallurgical process, with the
potential for additional copper production via heap leaching.
Heye Daun, Koryx Copper’s President and CEO commented: “The recent batch of 17 assay results represents
a good spread of locations across the entire mineralised system, and from each of the four defi ned Target
areas. Encouragingly, the holes continue to yield consistently positive results and support the mineral resource
at Haib. The site geological team has made notable progress with building an updated geological model, having
completed the relogging of all available drill core, updated the database, and under the guidance of our expert
consultants, have reinterpreted the entire lithological and structural model for the deposit.
We are now in tegrating all this information and with this updated geological model we now have a much
better understanding of the controls and distribution of copper and molybdenum grade. The new model also
allows the geologists to improve, and more accurately estimate, the overall mineral resource. These updated
models are currently being reviewed with the intention of updating and publishing the updated MRE before
the end of 2025, aiming to realise the upside from the drill results received since the previous estimate in August
2024”.
- 2 -
Figure 1: Plan view indicating the seventeen recent drill hole locations. The holes indicated in blue are shown on the long
section below
Figure 2. Long section looking northeast showing ten selected holes of the reported 17 hole intersections relative to the
model for Cu mineralization
- 3 -
Discussion of Drill Results
Target 1 Results:
Recent results at Target 1 have further refined the mineralisation model. HM78 and HM79, drilled northwards
from the Volstruis River, confirmed the shallow -dipping copper mineralisation with results consistent with
expectations. However, HM99, drilled north of HM79 on the same section l ine, returned lower grades,
indicating that mineralisation does not extend as far north as previously modelled —likely due to an
unrecognised fault. HM80, located 40m west of HM79, confirmed the expected narrowing of mineralis ation
near the Quartz Vein boundary with Target 2, showing it occurs further south than predicted and suggesting
a small reduction in tonnage. HM84, drilled 150m east of HM78, successfully closed sample spacing and
delivered results in line with the current model, strengthening confidence in continuity.
Target 2 Results
Drilling at Target 2 continues to confirm strong copper mineralisation. HM83, drilled northwards from the
Volstruis River, outlined the northern limit of the zone with 34m of well -developed near -surface copper,
including 8m at 0.64% Cu, and a second minera lised interval from 64m to 80m. Grades taper off below 80m,
helping define the depth extent of mineralisation in this area. HM100, drilled centrally, successfully closed
spacing and returned results in line with expectations, further strengthening confiden ce in continuity across
the target.
Target 3 Results
Drilling at Target 3 has provided further definition of mineralisation controls and boundaries. HM86, drilled
near the northeastern edge, confirmed copper within porphyritic andesites, with grades increasing at a
shallower depth than predicted by the model. HM87, located 90m east of HM86 where Target 3 overlaps with
Target 2, returned lower than expected grades, with the anticipated broad >0.2% Cu zone absent—likely due
to faulting or a local change in dip towards the northeast. HM93, drilled along the northern edge, refined the
position of the shear zone that defines the mineralisation boundary, showing it to be slightly further south
than modelled. HM96, drilled in the west, successfully closed spacing in this area with results consistent with
expectations, strengthening confidence in continuity.
Target 4 Results
Drilling at Target 4 has confirmed extensions of mineralisation and highlighted areas of potential tonnage gain.
HM76, drilled between Targets 2 and 4 along the Volstruis River, intersected strong copper and molybdenum
mineralisation, including >200 ppm Mo over 160m with multiple samples exceeding 2,000ppm. HM81, drilled
down dip, correlated well with HM76 at depth, confirming continuity of the deeper Cu -Mo zones. HM82,
drilled north of HM76 across the river structure, returned low near -surface grades but s howed increasing
copper and scattered high-grade molybdenum at depth. Infill holes HM91 and HM94, drilled in the centre of
the target, generally aligned with the model, though HM91 revealed a 46m zone averaging 0.34% Cu outside
the current high-grade domain, indicating wider-than-expected mineralisation, while HM94 returned slightly
lower-than-forecast copper due to porphyritic andesite dominance as opposed to breccia, which is more
typical here. HM95, on the eastern edge, intersected deeper copper zones beyond the model, representing a
potential tonnage increase.
- 4 -
Table of Significant Intersections
Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (%) Au (g/t)
HM76
Entire Hole 1 223 221 0.24 0.015 0.017
Main 1 22 21 0.34 0.004 0.016
Main 102 152 50 0.33 0.022 0.024
Including 124 136 12 0.47 0.062 0.029
Main 174 202 28 0.31 0.013 0.018
Main 216 223 7 0.37 0.005 0.03
HM78
Entire Hole 0 369 369 0.21 0.001 0.026
Main 60 62 2 3.75 0.002 0.184
Main 86 122 36 0.33 0.001 0.039
Main 240 250 10 0.31 0.004 0.041
HM79
Entire Hole 0 270 270 0.2 0.001 0.03
Main 2 6 4 0.55 0.004 0.026
Main 74 170 96 0.31 0.002 0.044
Including 102 110 8 0.78 0.011 0.057
HM80 Entire Hole 0 260 260 0.14 0.001 0.027
Main 0 14 14 0.36 0 0.068
HM81 Entire Hole 0 220 220 0.19 0.012 0.015
Main 182 194 12 0.49 0.011 0.033
HM82
Entire Hole 0 506 506 0.12 0.004 0.016
Main 206 212 6 0.41 0.004 0.028
Main 250 268 18 0.31 0.01 0.035
HM83
Entire Hole 0 195 195 0.19 0.001 0.011
Main 10 44 34 0.35 0.002 0.017
Including 28 36 8 0.64 0.005 0.026
Main 64 80 16 0.41 0.002 0.019
HM84
Entire Hole 0 240 240 0.23 0.002 0.024
Main 4 42 38 0.33 0.001 0.034
Including 12 20 8 0.46 0.002 0.043
Main 82 88 6 0.37 0.001 0.035
HM86
Entire Hole 0 425 425 0.19 0.001 0.017
Main 68 98 30 0.33 0.002 0.03
Including 76 82 6 0.62 0.004 0.073
Including 94 96 2 0.58 0.002 0.032
Main 184 216 32 0.3 0.001 0.028
Including 214 216 2 0.59 0.003 0.033
Main 252 344 92 0.32 0.002 0.021
HM87 Entire Hole 0 615 615 0.09 0.001 0.025
HM91
Entire Hole 0 246 246 0.2 0.002 0.017
Main 18 70 52 0.36 0.005 0.019
Including 20 26 6 0.69 0.002 0.02
Including 46 58 12 0.61 0.001 0.018
Main 126 172 46 0.34 0.004 0.019
HM93 Entire Hole 0 320 320 0.08 0.001 0.01
Main 106 116 10 0.3 0.001 0.009
- 5 -
Hole# Zone From (m) To (m) Width (m)1 Cu (%) Mo (%) Au (g/t)
HM94 Entire Hole 0 389 389 0.14 0.008 0.014
Main 148 166 18 0.32 0.044 0.014
HM95
Entire Hole 0 223 223 0.2 0.005 0.01
Main 20 26 6 0.56 0.001 0.031
Main 38 48 10 0.31 0.001 0.016
Main 168 174 6 0.31 0.016 0.003
Main 202 223 21 0.31 0.014 0.011
HM96
Entire Hole 0 441 441 0.22 0.003 0.013
Main 4 44 40 0.37 0.005 0.017
Including 12 18 6 0.51 0.007 0.019
Including 34 40 6 0.61 0.002 0.028
Main 228 344 116 0.36 0.004 0.02
Including 270 276 6 0.57 0.001 0.036
Including 282 290 8 0.54 0.002 0.027
Including 302 308 6 1.27 0.006 0.041
HM99
Entire Hole 0 202 201 0.16 0.002 0.047
Main 130 132 2 2.09 0.027 0.027
Main 168 170 2 0.91 0.016 0.069
HM100
Entire Hole 2 413 411 0.21 0.004 0.014
Main 180 210 30 0.33 0.007 0.022
Including 182 186 4 0.66 0.016 0.027
Main 338 346 8 0.3 0.001 0.019
Main 374 384 10 0.48 0.008 0.029
Including 382 384 2 1.27 0.028 0.072
1. Widths are interval widths and not true widths. The reported intervals are calculated using the following parameters:
a. Only % Cuwas used to determine the intervals
b. The target composite grade is ≥0.30% Cu.
c. Composites start and end with samples ≥0.30% Cu.
d. Grades between 0.20% and 0.30% are included in interval but generally constitute <40% of the interval.
e. Consecutive samples between 0.20% and 0.30% should be fewer than 5 samples (10m).
f. Grades below 0.20% are included but generally constitute <20% of the interval.
g. Consecutive grades <0.2% should be fewer than 2 samples (4m).
Resource Modelling Update
The large batch of results reported above have been extremely useful in providing the information to further
define the structural complexity of the system , as well as updating both the lithological and mineralisation
models, particularly in areas where significant faulting has been encountered. The full set of multielement
assays and gold assays have now been added to the database for review and statistical analysis during the
remainder of October, with the intention of producing an updated MRE by the end of the year.
The MRE update is expected to demonstrate the upside from the successful drilling campaigns on the copper
resource and significant increase in the number of molybdenum assays for estimate, as well as the potential
inclusion of gold for the first time as a discreet model.
The increased density of drill results throughout all areas of the mineralised system is also expected to improve
the resource classification in the new block model by converting Inferred material to the Indicated category.
The team expects that with a better understanding of the Inferred material that is expected to remain
following the update, a detailed drill plan can then be developed to target converting the resource to Indicated
category in preparation for the pre-feasibility study publication in 2026.
- 6 -
While the logging and core interpretation used to update the new geological models and MRE will assist with
guiding the future drill planning in the different Target areas, with the arrival of four new drill rigs in October
the team are looking forward to accelerating the drill program to execute the remaining program in the first
half of 2026.
RSU Issuance
The Company has approved the grant of up to an aggregate of 4,135,000 restricted share units (each, an
“RSU”) to certain key executives, officers, consultants and directors of the Company pursuant to the
Company’s Omnibus Plan, of which 1/2 of the RSUs wil l vest 12 months from the date of issuance, and then
one-quarter each after 18 and 24 months. Each RSU represents the right to receive, once vested, one common
share in the capital of the Company for every RSU held, or the cash equivalent thereof based on the fair market
value of the shares of the Company calculated in accordance with the terms of the Omnibus Plan.
The grant of RSUs is subject to any necessary regulatory approvals and requirements of the Exchange.
Quality Control
All drill core was logged, photographed, and cut in half with a diamond saw. Half of the core was bagged and
sent to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory,
No. T0387) and ActLabs in Canada, while the other half was quartered with one quarter archived and stored
on site for verification and reference purposes while the other quarter will be used for metallurgical test work.
33 elements are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion and gold is assayed for
using a 30g fire assay method. Duplicate samples, blanks, and certified standards are included with every batch
and are actively used to ensure proper quality assurance and quality control (“QA/QC”) The QA/QC frequency
is 1 in 20 for each of blanks, duplicates and standards.
Qualified Person
Mr. Dean Richards Pr.Sci.Nat., MGSSA – BSc. (Hons) Geology is the Qualified Person for the Haib Copper
Project and has reviewed and approved the scientific and technical information in this news release and is a
registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr.
Sci. Nat. No. 400190/08) .Mr. Richards is independent of the Company and its mineral properties and is a
Qualified Person for the purposes of National Instrument 43-101.
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 51 ppm Mo for 1,668kt of contained copper and
25.9kt contained Mo in the Indicated category and 308.9Mt @ 0.3 1% Cu and 40 ppm 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
- 7 -
Namibia). Due to its age, the deposit has been subjected 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.
Further details of the Haib Copper Project are available in the corresponding technical report titled, "NI 43 -101
Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia" dated effective
August 31, 2024 (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.
- 8 -
On behalf of the Board of Directors
"Heye Daun"
President, CEO and Director
Additional information is also available by contacting the Company:
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". Forward-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 anticipated 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.