Kincora Executes Definitive Agreements for Divestment of Mongolian Assets

About this update from Kincora Copper Limited

Melbourne, Australia--(Newsfile Corp. - July 2, 2026) - Copper-gold explorer and hybrid project generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to announce it has executed Share Purchase Agreements ("Definitive Agreements") with a wholly owned subsidiary of Tumen Ail Coal LLC (TAC) (such wholly owned subsidiary of TAC being a nominee of TAC) to divest Kincora's wholly owned Mongolian subsidiaries (the "Transaction"). The aggregate staged consideration for the Transaction is US$10-million, payable in full to Kincora, free and clear of any taxes, levies, or fees, but excluding certain contractual obligations of Kincora's. Following the previously announced receipt of US$1.5-million Option Payment (May 19th, 2026 release "Kincora receives option payment for divestment of Mongolian assets") and the execution of the Definitive Agreements described above, a further US$3.5-million stage payment is due to Kincora within five (5) business days. A final staged payment of US$5-million is due into an escrow account for release upon registration of the changes in the shareholders of the Mongolian subsidiaries which is anticipated to occur before year-end. Sam Spring, Kincora President & CEO, commented, "We are pleased to have achieved this significant milestone for the divestment of Mongolian asset portfolio. "The Transaction materially strengthens Kincora's balance sheet, sharpens our focus on our Australian portfolio and unlocks inherent value of one of our portfolio of projects." About Kincora Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy and currently drilling at two projects (Nevertire South and Condobolin). The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia's Lachlan Fold Belt, one of the globe's leading porphyry belts, and the historical Condobolin mining field within the Cobar basin in NSW. The Company has already unlocked over $100 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 20,000 metres of drilling and over A$10m of partner funded exploration sin...

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