Name of the Project
Haib copper project.

Location
About 20 km north-east of Noordoewer, in southern Namibia.

Project Owner/s
Koryx Copper, a Luxembourg-based copper development company.

Project Description
Haib is an advanced, large-scale openpit copper/molybdenum/gold porphyry project comprising predominantly sulphide mineralisation with a small oxide and transitional component.

The March 2026 mineral resource estimate, reported at a 0.15% copper cutoff, comprises 744-million tonnes in the indicated category grading 0.28% copper, 63 parts per million (ppm) molybdenum and 0.02 g/t gold, or 0.32% copper equivalent, containing 2.09-million tonnes of copper. A further 579-million tonnes in the inferred category grades 0.24% copper, 66 ppm molybdenum and 0.02 g/t gold, or 0.28% copper equivalent, containing 1.385-million tonnes of copper.

The prefeasibility study (PFS) base-case flowsheet provides for all sulphide material to be treated through conventional crushing, milling and flotation, replacing the earlier sulphide heap-leach concept. Coarse-particle flotation is expected to reject up to 25% of run-of-mine feed as coarse gangue with limited copper loss, reducing downstream grinding, water and energy requirements.

The current process concept comprises three 14-million-tonne-a-year crushing and screening trains, two 18.5-million-tonne-a-year milling and coarse-particle-flotation circuits, two 14-million-tonne-a-year conventional flotation trains and a three-million-tonne-a-year heap-leach circuit for residual oxide and transitional material. The flotation circuit is designed to produce separate copper-rich and molybdenum-rich concentrates, while the heap-leach circuit will produce copper cathode.

The preferred infrastructure concept provides for grid power supplemented by solar PV generation and potential battery storage, with capacity designed for up to 200 MVA. Raw-water demand is estimated at about 20-million cubic metres a year, with supply from the Orange river and off-channel storage the preferred PFS option.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The September 2025 PEA estimated an after-tax net present value, at an 8% discount rate, of $1.35-billion, an after-tax internal rate of return of 20.1% and an after-tax payback period of 3.9 years. These economics predate the March 2026 mineral resource update and the current PFS flowsheet and are expected to be revised in the PFS.

Capital Expenditure
The September 2025 PEA estimated development capital at $1.56-billion, excluding $159-million of heap-leach and solvent-extraction/electrowinning capital previously scheduled for Years 2 and 3. The PFS is reassessing capital requirements following the removal of sulphide heap leaching from the base-case flowsheet.

Planned Start/End Date
Koryx is targeting publication of the PFS and a further mineral resource update before the end of 2026. Environmental approval is targeted for the first half of 2027. A mining licence application was submitted on September 1, 2025. A mine-development or production start date has not been stated.

Latest Developments
On August 14, 2026, Koryx reported assay results from 17 drillholes totalling 6 430 m of infill drilling. The results continued to confirm broad, consistent mineralisation while technical studies and cost estimation were progressing towards publication of the PFS at the end of 2026.

On August 26, Koryx reported results from a further 19 drillholes totalling 8 586 m. All the holes intersected thick mineralisation, including a 969 m intersection grading 0.27% copper equivalent – the longest continuously mineralised intersection drilled at Haib to date – and higher-grade intervals, including 236 m at 0.57% copper equivalent. Infill drilling is nearing completion, with the results expected to inform the late-2026 mineral resource update and PFS.

Key Contracts, Suppliers and Consultants
DRA Projects Europe (process and technology/PFS processing work); Knight Piésold Consulting (mine water, tailings and environmental studies); MSA Group (March 2026 mineral resource estimate); Qubeka Mining Consultants (mining studies); and Ferrodrill Namibia (drilling).

Contact Details for Project Information
Koryx Copper, tel +1 604 687 2038 or email info@koryxcopper.com.