Selkirk Copper Continues to Expand the High-Grade Copper-Gold-Silver Minto North West Zone
Selkirk Copper Continues to Expand the High-Grade Copper-Gold-Silver Minto North
West Zone
Highlights
Drilling Results
• Step-out drilling at Minto North continues to expand the footprint of mineralization in this zone beyond the
current resource model to the south and to the north, including:
o 2.21% Cu, 1.54 g/t Au and 11.37 g/t Ag (3.45% CuEq) over 5.0 m within a thicker zone of
mineralization grading 0.94% Cu, 0.52 g/t Au, and 4.60 g/t Ag over 23.4 m; and 1.98% Cu 0.95 g/t
Au, and 9.76 g/t Ag (2.77% CuEq) over 9.0 m within another thick zone of mineralization grading
1.21% Cu, 0.86 g/t Au, and 5.66 g/t Ag over 20.0 m, both within drill hole 25SCM017. These two
significant intercepts occur within a continuous zone of elevated copper from 213.5 m to 266.0 m.
o 1.73% Cu, 0.58 g/t Au and 9.5 g.t Ag (2.24 % CuEq) over 6.7 m within a thicker zone of
mineralization grading 1.02% Cu. 0.47 g/t Au and 5.56 g/t Ag over 17.5 m in drill hole 25SCM019.
• Drilling at Ridgetop confirms mineralization and width within an under-drilled portion of the open pit
resource and identifies additional stacked mineralized zones beneath the current 2025 MRE open pit.
Drilling Program Update
• Drilling will recommence on January 23 with two drill rigs with another two rigs to start on January 28.
Four rigs will drill the remaining ~18,000 m until the completion of the planned 50,000 m.
• Selkirk Copper will display drill core from its 2025 exploration program at the AME Roundup Core Shack
on Monday January 26 to Tuesday January 27 . The core display will include intervals referenced in
previous news releases, focussing at the Minto North and Ridgetop zones. The Company looks forward to
engaging with technical attendees and industry participants during the conference.
Leadership Team Update
• We are pleased to announce the appointment of Leif Bailey as Director, Exploration & Geoscience who
will assist the team in advancing all aspects of Selkirk Copper’s geoscience-focused exploration activities
in the core property area as well as across Selkirk Copper’s extensive district mineral claims.
January 22, 2026 - Vancouver, BC and Pelly Crossing, YT – Selkirk Copper Mines Inc. (TSX-V: SCMI |
FRA:IO20) (“Selkirk Copper” or the “Company”) is pleased to provide a program update and announce new
assay results from the on going 50,000 m drill program at the Minto Mine in Yukon, Canada.
Drilling was paused for the holiday break following the safe completion of 32,026 m in 121 drill holes. New
results reported in this release include assays from multiple drill holes completed at the Minto North west zone
and the Ridgetop zone, both of which continue to demonstrate strong grade continuity.
M. Colin Joudrie, President & CEO, commented: “New assay results from our 50,000 m planned drill program
continue to reinforce our view that the Minto North west zone has meaningful expansion potential and that
mineralization in the Ridgetop zone is of the grade and thickness we anticipated. I am pleased to see the
exploration and drill teams back on site to complete the balance of the program, encouraged that we continue to
attract high quality and experienced personnel such as Leif Bailey to the Selkirk Copper team, and that we are
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making steady progress on the Trade-Off Study work. The first half of 2026 is shaping up to be a very productive
period for Selkirk Copper supported by strong copper, gold, and silver prices to start off the New Year.”
2026 Drill Program Update
Drilling will resume January 23, 2026, with additional results continuing to be released as assays are received
and validated. Table 1 summarizes meters and holes by zone that have been completed thus far.
The upcoming program is focused on the Minto East, Copper Keel, Ridgetop and Minto North zones (Figure
1). Drilling will continue to support the ongoing engineering trade -off studies, test expansion of known
mineralized zones, and target strategic resource conversion.
Additionally, the Company has completed a comprehensive compilation and re -evaluation of historical
geophysical surveys in the vicinity of the Minto Mine. Several new brownfield and greenfield targets have been
identified for follow-up drill testing. Testing of greenfield targets north of the current infrastructure and testing
newly interpreted regional structures coincident with geophysical anomalies, will be carried out within the
remaining portion of the 50,000 m drill program.
Table 1: Drilling by Zone
Zone Holes
completed Meters drilled
Minto North 28 8,979
Ridgetop 58 11,911
Minto East 15 5,406
Copper Keel 7 1,990
118 13 3,740
Total 121 32,026
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Figure 1: Plan view of the Minto Mine showing surface projections of mineralization zones (Ridgetop, Copper Keel, 118, Minto East
and Minto North), relative to 2025 drill collars (yellow circles).
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Drill Results
Minto North
Drilling at the Minto North west zone, outlined in Figure 2, continues to expand the footprint of a high-grade,
laterally continuous copper -gold-silver system. To the south, 25SCM017 stepped-out 60m from historical
drilling and intersected two significant intervals, measuring 23.38 m and 20.0 m, within a broader zo ne
measuring 52.5 m in thickness. To the north, 25SCM026 stepped- out 65m from historical drilling and
intersected a significant interval measuring 55.6 m in thickness. These intervals approximate the true thickness
of the Minto North west mineralized zone, as evidenced by steeply dipping drill holes and the sub-horizontal
geometry of the mineralization in this area. Based upon these results, the Minto North west zone has been
identified as one of the thickest mineralized lenses that has been discovered within the Minto Mine area.
Mineralization in the Minto North west zone comprises bornite and chalcopyrite hosted with foliated and
strongly deformed granodiorite . Mineralization occurs within assimilation zone (ASMZ) and migmatitic
(MIGM) lithologies characterized by increasing foliation intensity, magnetite alteration, and elevated sulphide
content. The highest grades (e.g., 25SCM017 with a 5.0 m interval of 2.21% Cu, 1.54 g/t Au and 11.37 g/t Ag;
3.45% CuEq) are associated with an elevated ratio of bornite to chalcopyrite and more intensely foliated rock.
The Company has completed additional drilling at the Minto North west zone to expand upon the footprint of
mineralization in this area. Additional results will be released as assays are received and validated.
Figure 2: Plan View (right) of the Minto North west zone, and cross-section view (left) looking west. Sulphide mineralization observed
in drilling extends the N-S strike direction to 208 meters (dashed outline) compared to the previously modelled 105 meter strike length
(red shaded shape).
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Ridgetop
Results from the Ridgetop zone focus on an under-drilled portion of the open-pit resource situated between the
well-defined shallow western pit (<150 m depth) and a higher -grade, deeper zone to the east. Drill holes
25SCM016 and 25SCM018 intercepted modera te to low -grade mineralization coincident with the stacked
mineralized lens model. Importantly, both holes intersected an additional deeper, previously unmodelled zone,
returning 0.87% Cu, 0.20 g/t Au and 3.07 g/t Ag (1.05% CuEq) over 12.35 m in 25SCM016, and 0.98% Cu,
0.23 g/t Au and 3.70 g/t Ag (0.97% CuEq) over 12.0 m in 25SCM018 (Figure 3).
This drilling demonstrates potential to successfully convert waste to ore within planned pits, in areas with no
previous drilling, which will improve the economics of future pit designs. Additionally, the discovery of new,
higher-grade lenses at depth demonstrates the continued expansion potential at Ridgetop. As a result, targeted
drilling at Ridgetop will remain a priority as the Company advances engineering and trade-off studies.
Stepping to the southeast, drill holes 25SCM020, 25SCM022, and 25SCM027 identified another new
mineralized lens beneath the existing 2025 MRE open pit design1, further demonstrating the stacked nature of
mineralized lenses throughout the Minto deposit area (Figure 4) . A renewed focus on structural fabrics,
mineralogy, and physical property measurements is helping refine our understanding of the key controls on
mineralization, allowing us to more effectively map continuous zones and better target the higher -grade
pockets within them.
Figure 3: Cross-section A-A’, 50 m thick, looking NW of the Ridgetop open pit resource (yellow shapes).
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Figure 4: Cross-section B-B’, 50 m thick, looking NW of the Ridgetop open pit resource (yellow shapes).
The location, azimuth, dip and depth of hole of this new drilling is summarized in Table 2 and significant
intervals is summarized in Table 3.
Table 2: Collar Locations and Header Information
Hole ID Easting Northing Azi Dip EOH Zones
25SCM013 385177 6943771 252 -72 150 Ridgetop
25SCM014 Previously Released Dec 22, 2025
25SCM015 385121 6943792 0
-88 309 Ridgetop
25SCM016 385121 6943792 0 -74 324 Ridgetop
25SCM017
383997 6945916 240 -76 372 Minto North
25SCM018
385124 6943795 210 -70 348 Ridgetop
25SCM019
384001 6945911 92 -68 420 Minto North
25SCM020
385177 6943771 192 -56 268.5 Ridgetop
25SCM021
384009 6945994 335 -55 101 Minto North
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25SCM022
385177 6943771 204 -45 294 Ridgetop
25SCM023
384009 6945994 0 -90 282 Minto North
25SCM024
385177 6943771 179 -45 285 Ridgetop
25SCM025
385275 6943850 0 -90 507 Minto East
25SCM026
384009 6945994 270 -82 474 Minto North
25SCM027
385275 6943850 0 -90 435 Ridgetop
25SCM028
385275 6943850 137 -69 351 Ridgetop
25SCM029
384009 6945994 50 -75 348 Minto North
Table 3: Significant Interval Table
Hole ID From To Length
(m)
Cu
%
Au
g/t
Ag
g/t
CuEq % Lith Zone
25SCM013 49.93 50.47 0.54 9.19 0.01 0.75 9.20% ASMZ RT
127.95 133.8 5.85 0.37 0.06 0.80 0.42% ASMZ
25SCM015 129.11 138 8.89 0.41 0.05 0.86 0.45% ASMZ RT
158 165 7 0.29 0.06 1.20 0.35% ASMZ
169.87 179 9.13 0.40 0.08 2.02 0.48% ASMZ
25SCM016 181 193.35 12.35 0.87 0.20 3.07 1.05% MIGT RT
Incl. 189.88 193.35 3.47 1.79 0.49 6.41 2.21% MIGT
225 226.93 1.93 1.53 0.32 6.86 1.83% ASMZ
25SCM017 213.5 236.88 23.38 0.94 0.52 4.60 1.37% MIGT/ASMZ MN
Incl. 227.5 232.5 5 2.21 1.54 11.37 3.45% MIGT
235 236.88 1.88 2.42 0.98 14.29 3.28% ASMZ
246 266 20 1.21 0.86 5.66 1.90% ASMZ
Incl. 256 265 9 1.98 0.95 9.76 2.77% ASMZ
25SCM018 121.45 123 1.55 0.90 0.25 3.06 1.11% ASMZ RT
158 170 12 0.98 0.23 3.70 0.97% MIGT
25SCM019 208 221 13 0.40 0.08 1.16 0.47% ASMZ MN
223 240.49 17.49 1.02 0.47 5.56 1.42% ASMZ
Incl. 232.85 239.5 6.65 1.73 0.58 9.50 2.24% ASMZ
25SCM020 No Significant Intercept
RT
25SCM021 Lost Hole MN
25SCM022 No Significant Intercept RT
25SCM023 201.3 249.61 48.31 0.34 0.12 1.51 0.44%
ASMZ MN
25SCM024 79.2 83.3 4.13 0.99 0.22 3.54 0.94% ASMZ RT
25SCM025 No Significant Intercept ME
25SCM026 190 245.6 55.6 0.46 0.21 1.84 0.63% MIGT MN
Incl. 232 245.6 13.6 0.86 0.57 3.67 1.31% MIGT
25SCM027 399 404.5 5.53 0.57 0.13 3.77 0.70% MIGT RT
25SCM028 178.4 183.2 4.82 0.83 0.45 4.94 1.21% MIGT RT
224 229 5 0.42 0.10 1.24 0.51% ASMZ
25SCM029 250 261 11 0.49 0.15 2.75 0.62% MIGT MN
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At the Minto North zone, the flat laying to shallowly dipping nature of the mineralized zones suggest that true widths are typically >90% of the reported
drill intersection length. At Ridgetop, true widths are approximate 85-90% of reported drill intersection lengths.
ASMZ = Assimilation Zone; MIGT = Migmatite
RT = Ridgetop; MN = Minto North
CuEq Calculation:
CuEq = ((Cu% × CuP × RCu × 2204.62)+(Au g/t ÷ 31.1035 × AuP × RAu) + (Ag g/t ÷ 31.1035 × AgP × RAg ))/(CuP × RCu × 2204.62)
Where:
CuP/AuP/AgP = US$ commodity prices of $4.25/lb Cu, $2500/oz Au, $29/oz Ag; RCu = Cu Recovery = 98%; RAu = Au Recovery = 85%; RAg= Ag Recovery
= 85%
Recoveries as estimated from historical mineral processing results.
Leadership Team Update
We are pleased to announc e that Leif Bailey, a professional geoscientist with 20 years of experience and a
passion for exploration and discovery, has joined Selkirk Copper’s exploration team as Director Geoscience
& Exploration. Mr. Bailey’s expertise spans the exploration and mining life -cycle, including grassroots
exploration, development studies, and underground mining operations, and across a diversity of deposit types
and commodities. His previous work includes exploration projects throughout North America, with a focus on
copper-gold deposits in Northern BC, Yukon, and Alaska.
Mr. Bailey has a track-record of delivering value through successful exploration, and also through delivery of
targeted geoscience and orebody knowledge initiatives for development projects and mining operations. Prior
to joining Selkirk Copper, Mr. Bailey provided leadership within a multi -disciplinary technical team at the
Galore Creek Cu-Au-Ag Project, a joint-venture partnership between Teck Resources Limited and Newmont
Corporation. In this role, he was part of the team recognized in 2023 with the AME David Barr Award for
Leadership and Innovation in Mineral Exploration Health & Safety.
Mr. Bailey is a registered Professional Geologist (P.Geo., EGBC) and holds an M.Sc. in Geology from the
University of British Columbia. In his master’s degree, Mr. Bailey completed a comprehensive study of the
White Gold deposit, located nearby to Minto, and was part of a research initiative focused on understanding
the geological framework for mineral deposits in West-Central Yukon.
Issuance of Options in Selkirk Copper Mines Inc.
The Company further announces that it has granted an aggregate of 400,000 stock options (the “Options”) to
certain employees and consultants of the Company pursuant to its stock option plan (the “Stock Option Plan”)
subject to the approval of the TSX Venture Exchange. Each Option entitles the holder to acquire one common
share of the Company at an exercise price of $0. 71 per share for a period of ten years from the date of grant.
The Options will vest as to 25% on the date of grant, with the balance vesting in equal quarterly instalments
thereafter annually from the date of grant. The Company also announces that it has cancelled an aggregate of
56,250 incentive stock options in accordance with the terms of the Stock Option Plan.
Marketing Campaign Service Agreements
The Company also announces it has entered into a service agreement with Native Ads Inc. (“Native Ads”) in
connection with a digital advertising campaign, pursuant to which Native Ads will provide the Company with
services which include sponsored articles and other advertising development, ad campaign analytics, and
media buying and distribution services. The digital advertising campaign is planned for the six-month term of
the agreement, or until budget exhaustion, with a total campaign budget of US$250,000. The majority of the
campaign budget will be disbursed by Native Ads in order to satisfy its obligations under the agreement. The
Company and Native Ads act at arm’s length, and Native Ads has no present interest, directly or indirectly, in