Koryx Copper S.a.TSXV: KRY

Press Release Advancing a World-class Cu Porphyry in Namibia – April 2026

May 12, 2026 at 6:24 PM UTC · Issued by Koryx Copper S.a.

INVESTMENT HIGHLIGHTS

Advancing a world-class Cu project in Namibia

Simple, scalable, near term. Low risk, low cost, long life.

Investor Presentation / April 2026 Heye Daun: President & CEO

INVESTMENT HIGHLIGHTS - THE WORLD CLASS NEW HAIB Cu/Mo PROJECT

Excellent Pedigree: Formerly Rio Tinto and Teck owned, >120,000m of historical drilling and extensive metallurgical
testwork. Enhanced PEA & technical studies completed in 2025 incl. +55,000m infill drill program underway.
Technically Simple & Economically Sound: Large-scale, low cost, long life. Scalable, pre-PFS-stage open pit sulphide Cu/Mo/Au project located at low altitude in an ideal, infrastructure-rich area of southern Namibia close to the South African border. PFS to be published in H2 2026.
Refinanced under credible new Leadership: Since end of 2024 under proven Namibian leadership & technical team with impeccable track record of successful Namibian mine development & shareholder value creation.
Proven Value Creation Strategy: Stated aim of optimizing, right-sizing and de-risking the project towards an investment decision and/or asset/equity sale.
Low Equity Valuation
TSXV:KRY 2
- Highly successful business partnership. Delivered significant shareholder value
  through multiple successful mining exits since 2011.
- Proven leadership & technical team with strong Namibian roots.
- Focus on core competence (identify, acquire, advance) and repeating past success.
- In early 2024 took over leadership & management control of TSXV-KRY and initiated turn-around (refinanced, new technical team & strategy)
  In progress …..
  Completed 2024
  Completed 2016 Completed 2011
  - Change in management control in early 2024
  - ~$100m working capital raised since 2024
  - ~10x growth in share price since early 2024
  - PEA-stage
  - PFS Q4 2026
  - $390m* cash sale to Yintai**
  - Transaction closed 2024
  - Founded 2016 by HD/AF
  - Competitive bid process and navigation of complex approvals
  - 3moz, DFS-stage, fully permitted

Sold in $200m merger with Ross Beaty's Odin Mining to form Lumina Gold in 2016 (EQX contribution ~$70m)
HD negotiated transaction with Ross Beaty
PFS-stage, sold to CMOC

for $581m

$180m sale to B2Gold
Transaction closed in 2011
Co-founded 2009 by HD/AF+
1.8moz, PEA-stage & largely permitted in 2011
Currently in production,

~200kozpa

* incl. break-fee, reverse break-fee & bridge equity

Executive Team

Heye Daun

President & CEO

Namibian mining engineer and company builder with +25 years of mining & public markets experience
Three successful exits: OSI sold to Shanjin for $368m in 2024; AYX sold to BTO for $180m in 2012 and EGX merged into LUM in $200m transaction in 2016
Previous roles in banking & fund management in South Africa. First 10 years of career with Rio Tinto, AngloGold & Goldfields, building & operating mines in Africa

Tony Da Silva
Chief Financial Officer
Qualified Chartered Accountant with + 20 years of experience as a finance professional in private and public companies, auditing and capital asset management,
Ex-CFO for Osino Resources, sold to Shanjin for $380m Previously with Nexia International and BlueAlpha Investment Management.
Management Team
Alan Friedman

Chairman
Toronto-based public markets entrepreneur with 25 years of experience in acquisitions, financings, go-public transactions and M&A
Co-founder and Director of TSX-V listed Eco (Atlantic) Oil and Gas Ltd., and co-founder of Auryx Gold Corp. and Osino Resources Corp. Formerly with Investec Bank and Director of the Canada-Southern Africa Chamber of Business
Two successful mining exits: AYX sold to BTO for C$ 180m in 2012 and Osino

sold to Shanjin for C$ 380m in 2024

Charles Creasy

VP Project

Steve Burks

Senior Met Study

Jon Andrew

VP Exploration

Simson Kupindi

Operations Geology

Rob Zipplies

Sustainability

Julia Becker

Corporate

CAPITAL STRUCTURE

SHAREHOLDER OVERVIEW

SIGNIFICANT SHAREHOLDERS

RESEARCH COVERAGE

Share Price (April 14, 2026)	C$3.41
52-Week Trading Range	C$0.85 - 3.90
Basic Shares Outstanding	120.33m (est.)
Options Outstanding	0.58m
RSUs Outstanding	7.55m
Warrants Outstanding	4.59m
Fully Diluted Shares Outstanding	132.72m
Market Capitalization (FD)	C$452.58m
Estimated Cash (Jan 30, 2026)	~C$66.0m
Debt (excl. vehicle finance)	Nil

Other 54%

120.3m

Issued

Institutions, Strategics, & HNW 26%

Teck

~5%

Management

& Directors

SHARE PRICE PERFORMANCE (RELATIVE 1-YEAR)

CAD51m financing

concluded Jan 2026 @ C$2.45/share

~15%

Ross Beaty

Management & Namibian HNW

Jamie Spratt		$5.50
T. Combaluzier		$5.10
Cole McGill		$4.25
Bereket Berhe		$4.00

Current & former in-country mining producers (gold, diamonds, uranium, copper and industrial metals)

+120 year mining history

STABLE & MINING FRIENDLY

Stable democracy, independent judiciary, diverse economy
Transparent system of mineral & surface title
Strong political and social support of mining with stated ambitions to develop mineral resources
EXCELLENT INFRASTRUCTURE
Excellent physical & social infrastructure
Within 20km's of essential utilities, roads, grid power, water supply & well-serviced towns
WELL-ESTABLISHED MINING INDUSTRY
Major revenue earner & employer
Stable tax code and fair fiscal terms
N$ sovereign bonds trading at 8.3% YTM, comparing well to other favorable mining development jurisdictions such as Botswana (10.2%), Mexico (7.8%), and Brazil (9.7%) for similar maturities

Haib is a large, world-class, advanced open-pit Cu/Mo porphyry deposit with a long history of exploration & project development
One of a few Paleoproterozoic porphyry copper
deposit in the world (two in Namibia).
Excellent pedigree (Falconbridge, Rio Tinto, Teck) with a long history of exploration & project advancement

Due to its age (1.9Ga), multiple metamorphic and deformation events, but classic mineralization and alteration features typical of these deposits remain.
Mainly chalcopyrite with minor bornite and chalcocite present
Comparable size & grade projects in younger belts; Pebble (Alaska), Warintza (Ecuador). Tier 1 examples often have significant supergene enrichment; Escondida (Chile)
Haib Cu/Mo
Porphyry Project Location

Approximate Future Open Pit Outline

Haib Open Pit
Orange river water pump station, pipeline & site water storage dam
Existing Grid power close to site (to be upgraded)
Grid Power
- Application for NamPower to conduct a capacity assessment to connect to the 220kV line 45km from the plant site
- 150MW power demand sufficient grid power available from SA grid via Namibia
- PV, wind power assessment underway
  Water Supply
- 20m m3 pa water demand for a 20mtpa plant. Various supply scenarios:
- Orange river source: (9km) plus on- site water storage in attenuation dams - capacity for up to 6 month's water storage
- Neckartal dam alternative: (230km pipeline) backup / growth option being advanced