Selkirk Copper Mines Inc. · TSXV:SCMI
Selkirk Copper Mines — Investor Presentation (December 2025)
41 slides from Selkirk Copper Mines's investor presentation, December 2025
Slide 1: Yukon’s Next Producing Copper Mine
Yukon’s Next Producing Copper Mine Writing a New Chapter, Building for the Future Selkirk Copper Mines Inc. TSX-V:SCMI | FRA:IO20 selkirkcopper.com December 2025
Slide 2: Cautionary Notes and Technical Disclosure
Cautionary Notes and Technical Disclosure Disclaimer Recipients of this Presentation who are considering acquiring securities of Company or a related entity are reminded that any such purchase or subscription must not be made solely on the basis of the information contained in this Presentation but
Slide 3: Selkirk Copper Mines Inc. (TSX-V:SCMI and FRA:IO20)
Selkirk Copper Mines Inc. (TSX-V:SCMI and FRA:IO20) 334 Mlbs Cu 50,000 m >$320M in High-grade Cu- Prospective land Indicated, 547 Exploration Invested Capital Au-Ag (38-40% package, unique Mlbs Cu Inferred Budget by Historical Cu) Concentrate First Nation Operators Product Partnership Strong resourc
Slide 4: Near-term Copper-(Gold-Silver) Investment Opportunity
Near-term Copper-(Gold-Silver) Investment Opportunity • Industry-leading First Nation commercial and operating partnership • Asset acquired for C$6.4 million – C$30 million enterprise value – Selkirk First Nation 22% majority shareholder • Significant capital platform with >$320M invested in plant,
Slide 5: Selkirk First Nation & Selkirk Copper – A Unique Opportunity
Selkirk First Nation & Selkirk Copper – A Unique Opportunity • Selkirk Copper Mines is an equity partnership with the Selkirk First Nation (22.3% shareholder) that has significant direct experience at Minto • Selkirk First Nation (“SFN”) is a self-governing, treaty-settled First Nation with ~750 cit
Slide 6: Significant Existing Capital and Infrastructure
Significant Existing Capital and Infrastructure Significant Underground Workings Open Pit Mineral Resources Large Drilling Database 4,100 tpd Mill 400 Person Camp Water Treatment Plant 6
Slide 7: Historical Mine Production
Historical Mine Production OP Ore Mined (LHS) UG Ore Mined (LHS) Mill Feed (LHS) Overall Cu Recovery (%) (RHS) 2,000 100 1,600 80 Design Capacity — 4,100 tpd Tonnage (000 t) 1,200 60 800 40 400 20 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Sherwood Copper
Slide 8: What’s Different This Time
What’s Different This Time Boots on the Ground – This asset has been underattended to and undermanaged for ~10 years; our team is committed to changing that starting now Social License – Selkirk Copper’s advancement of the Minto Mine towards a restart decision will be in partnership with Selkirk Fir
Slide 9: Restart Planning
Restart Planning
Slide 10: Three-step Plan to Inform a Restart Plan
Three-step Plan to Inform a Restart Plan High-level Plan and Schedule to Restart the Minto Mine 2025 2026 2027 2028 Court Approval (Jun-25) Approve Project Description Restart Milestones Decision RTO Financing (Sep-25) Window Restart Financing (H2-27) Trade-off Study Completion (Q1-26) Complete FS (
Slide 11: Exploration Update
Exploration Update
Slide 12: District-wide Exploration
District-wide Exploration • Selkirk Copper acquired an updated, high-quality LiDAR dataset in Q4 2025 covering ~2,000km2 of prospective Minto-Carmacks Copper Belt which will act as an updated base map for mine-site and district-wide exploration activities • Selkirk Copper holds ~26,850 ha of mineral
Slide 13: Mine-Site Exploration and Resource Drilling
Mine-Site Exploration and Resource Drilling • 50,000 m drill program is focused on: • Expanding and Extending zones of known mineralization at Minto North, Minto East, and Copper Keel underground zones and the 118 and Ridgetop open pit zones • Upgrading Inferred Resources and Indicated Resources des
Slide 14: Minto North West Zone – Initial Results from First 4 Drillholes
Minto North West Zone – Initial Results from First 4 Drillholes • Initial drill results have expanded the previously identified high-grade mineralized zone by up to 90%. • Initial results include the following high-grade intercepts: • 5.21% Cu, 0.47 g/t Au, 26.68 g/t Ag over 8.7 m from 228.85 m, wit
Slide 15: Minto North West Zone – Core Detail
Minto North West Zone – Core Detail 25SCM001 25SCM002 0.30-1.0% Cu 1.01-3.0% Cu 3.01-10.0% Cu >10.01% Cu 15
Slide 16: Following-up Recent Drill Results
Following-up Recent Drill Results 22EXP058 Interval 143.75-144.25 m 25.5% Cu An example of net-textured bornite within an equigranular granodiorite 16
Slide 17: Progress Update: Drilling Actuals and Forecast
Daily Meters 0 100 200 300 400 500 600 23-Aug 25-Aug 27-Aug 29-Aug 31-Aug Rig 9 Avg Daily Avg Rig 11 avg Rig 10 Avg Rig 12 Avg Cumulative 02-Sep 04-Sep • • 06-Sep 08-Sep 10-Sep 12-Sep 14-Sep 16-Sep 18-Sep 20-Sep 22-Sep 24-Sep 26-Sep completion of 50,000 m 28-Sep 30-Sep 02-Oct 04-Oct 06-Oct 08-Oct 10
Slide 18: Trade-Off Study and Preliminary Economic Assessment (PEA) Update
Trade-Off Study and Preliminary Economic Assessment (PEA) Update 18
Slide 19: Engineering Update: Trade-Off Study and PEA
Engineering Update: Trade-Off Study and PEA • Hatch and SRK Teams underway: Site Visit October 16-19 • Trade-Off Study and Preliminary Economic Assessment (PEA) Design Basis/Objectives: 1) goal of defining a 12-15 year mine life; 2) 4,100tpd continuous ore production; 3) tailings & waste Rock dispos
Slide 20: Engineering Update: Trade-Off Study and PEA (continued)
Engineering Update: Trade-Off Study and PEA (continued) Key Activities • Partially Oxidized (POX) Material test work underway with Blue Coast Research • Mill equipment evaluation underway • Updated LiDAR (80km x 30km) completed in Q4 2025 Key Issues/Risks • POX test work data and interpretation timi
Slide 21: Engineering Update: Trade-Off Study and PEA (continued)
Engineering Update: Trade-Off Study and PEA (continued) Key Opportunities • Optimize Energy Efficiency to reduce operating costs • Grinding/crushing circuit is paramount (grind size optimization, revamp crushing circuit) • Establish framework agreement with Yukon Energy Corporation on energy efficie
Slide 22: Permitting Update
Permitting Update 22
Slide 23: Advancing Our Regulatory Efforts
Advancing Our Regulatory Efforts Coordination and Historical Review Direct Engagement with the Regulators • Working with Selkirk First Nation to better align • Continuing discussions with the Government of the history and experiences of Minto with our Yukon, Yukon Water Board, YESAB, and others, fut
Slide 24: Advancing Our Regulatory Efforts
Advancing Our Regulatory Efforts Water, Waste, and Tailings Resourcing the Opportunity • Continuing to discuss how to address the • Hired Director, Permitting physical and permitting requirements to • Request for Qualifications issued to various remove the water stored underground by the consulting
Slide 25: Summary Comments
~ Summary Comments ta 25
Slide 26: Recent Developments & Near-Term Catalysts
Recent Developments & Near-Term Catalysts • Completed C$4.5M and C$40M equity raise at ~C$30M EV, resulting in 100% ownership of the mine and infrastructure • Resumed trading on TSX Venture (TSX-V:SCMI) on Nov 4, 2025 with secondary listing on the Frankfurt Exchange (FRA:IO20) • Pro-mining Yukon Par
Slide 27: Selkirk Copper Team
Selkirk Copper Team Board of Directors Colin Joudrie Rob McLeod Ryan Weymark Alex Morrison Greg Fekete Stephen Mills CEO, Director Director Director Independent Director SFN Nominated Director SFN Nominated Director Executive Josh Kierce Matthew Pickard Chuck Hennessy Stacie Jones Scott Fulton Justi
Slide 28: Minto Timeline
Minto Timeline Oct 2018 Jun 2025 Q1 2027 Capstone Places SFN Completes acquisition Planned Minto into Care of all tangible and intangible completion of & Maintenance assets of the Minto mine Feasibility Study Apr 2022 Restricted operating Mar 2026 H1 2028 Oct 2019 conditions imposed Expected Potenti
Slide 29: Appendices
Appendices 29
Slide 30: Board of Directors
Board of Directors President & CEO, Director – SFN Nominated Director – Greg SFN Nominated Director – Stephen Independent Director – Alex Director – Robert McLoed is a Director – Ryan Weymark is a Colin Joudrie is an accomplished Fekete was born and raised in Mills is a member of the Vuntut Morrison
Slide 31: Executive Management Team
Executive Management Team CFO – Josh Kierce is a SVP Permitting & SVP Operations – Chuck VP Exploration – Stacie VP Projects and VP Corporate VP Lands and CPA with 8-years Regulatory Affairs – Hennessy is a mine Jones is a Professional Engineering – Scott Development – Justin Environment – Kevin exp
Slide 32: 2025 Mineral Resource Estimate – Table 1
2025 Mineral Resource Estimate – Table 1 In-situ Grades Contained Metal Mining Cutoff Tonnage % Change NSR Class Cu Au Ag Cu Au Ag Method vs. 20214 C$/t 000 t C$/t % g/t g/t M lbs 000 oz 000 oz Indicated 6,085 75% $89.11 0.90 0.27 2.9 120 54 560 Open Pit $30 Inferred 9,496 378% $73.71 0.70 0.16 2.4
Slide 33: 2025 Mineral Resource Estimate – Table 2
2025 Mineral Resource Estimate – Table 2 In-situ Grades Contained Metal Cutoff Tonnage NSR Indicated Area Cu Au Ag Cu Au Ag C$/t (000 t) (C$/t) % g/t g/t M lbs 000 oz 000 oz Ridgetop 5,693 $90.09 0.91 0.28 2.92 114 52 535 Open Pit $30 118 391 $74.83 0.73 0.13 2.06 6 2 26 OP Subtotal 6,085 $89.11 0.9
Slide 34: 2025 Mineral Resource Estimate Parameters and Footnotes
2025 Mineral Resource Estimate Parameters and Footnotes Notes to Table 1 and 2: 1. The MRE has been completed by Sue Bird of Moose Mountain Technical Services (MMTS). 2. Effective date is April 7, 2025 3. Mineral Resources are reported using the 2014 CIM Definition Standards and were estimated using
Slide 35: Path Forward to Minto Restart
Path Forward to Minto Restart De-Risk Mineral Resource Restart Planning Restart Permitting • Complete additional in-fill drilling • Complete engineering trade-off studies to • Ensure all existing permit conditions are focused on near-term, high-grade evaluate various mine plans and UG met prior to r
Slide 36: Disciplined Project Advancement
Disciplined Project Advancement Exploration – >80,000 meters of drilling has been completed since the 2021 mineral resource update, with ~50,000 m budgeted for the H2-2025/H1-2026 period to expand and upgrade mineralization Engineering – Near-term engineering activities will focus on evaluation of t
Slide 37: Concentrate to Market via Skagway Ore Terminal
Concentrate to Market via Skagway Ore Terminal • Yukon Government & the Municipality of Skagway have an accepted terms of agreement in place (2023) to upgrade the ore terminal dock • Momentum is building from the Yukon Mining industry, options at Skagway and other potential ports (Haines, Prince Rup
Slide 38: Comparables
Comparables 2,000 M&I CuEq Inf CuEq Contained CuEq (000 t) 1,500 2.86% 2.28% 1,000 1.93% 500 2.00% 2.35% 2.77% 1.41% 2.24% 2.41% 1.90% 1.63% 2.32% 0 Selkirk Copper Company Canadian Copper Kutcho Copper Abitibi Metals FireFly Metals Foran Mining Mines EV (US$M) 32.5 19.6 22.0 27.9 732.9 1,375.9 Marke
Slide 39: Use of Proceeds
Use of Proceeds $40M Financing Planned Work Exploration 13.0 ~50,000 m of drilling planned, with 4 drills currently on site Trade-off Final consultant selection underway. Will evaluate mining restart scenarios 1.5 Studies and sequencing, identify long-lead items, and provide preliminary capital Deta
Slide 40: Risk Factors
Risk Factors The risk factors below are a summary of the risk factors included in the presentation and the presentation should be read in its entirety including this section "Risk Factors". The order of appearance is not intended to indicate importance of likelihood of occurrence. Should one or more
Slide 41: colin.joudrie@selkirkcopper.com justin.stevens@selkirkcopper.com
colin.joudrie@selkirkcopper.com 604-760-3157 justin.stevens@selkirkcopper.com 604-240-2959
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