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Vancouver, BC – TheNewswire - October 21, 2026 – Global Stocks News - Sponsored content disseminated on behalf of Selkirk Copper Mines. On October 15, 2026, Selkirk Copper Mines (TSXV: SCMI) (FRA: IO20) (OTCQX: SKRKF) announced additional results from the Phase 2 drill program at the Minto Project in Yukon, Canada.

Sixteen months ago, Selkirk First Nation (SFN) purchased the former Minto Mine out of bankruptcy, then partnered with the Frank Giustra-backed Fiore Group to form Selkirk Copper Mines.

A September 2026 Preliminary Economic Assessment (PEA) outlines a 13-year mine life at 4,100 tonnes per day (tpd), starting with underground mining, then adding two open pits later in the mine life.

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The structural model and refined targeting methodology, combined with a focused infill drill program, are giving Selkirk the data needed to advance Feasibility Study work in the next phase of restart development at the Minto Project.

"These results, notably the high grade and thick intercepts at Minto North, Copper Keel, and Area 118, underpin our confidence in the continuity and grade within the zones of mineralization that will improve the quality of our updated mineral resource modeling,& stated Colin Joudrie, Selkirk President & CEO, in the October 15, 2026 press release.

“This increases the potential in our integrated mine planning efforts to deliver higher grade material to the mill, resulting in higher metal contained in concentrate. I look forward to continued positive results from the Phase 2 campaign over the next 8-10 weeks and another updated mineral resource estimate (MRE) in Q1 2027."

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Above: Plan view of the Minto Mine Property showing surface projections of mineralized zones as well as Phase 1 and Phase 2 drill collars. Drill hole results presented in this release are highlighted.

2026 Phase 2 Drill Program

The Phase 2 drill program targeted 50,000 metres and focused on expansion, exploration, and infill drilling in key target areas. The geo team identified opportunities to complete additional metres while staying on schedule and on budget.

In the September 26, 2026 YouTube Crux Investor Interview below, Selkirk Copper CEO Colin Joudrie explains how a favourable PEA supports a fast-tracked restart plan for the Minto Project in the Yukon.

“We are Canada's first publicly traded mining company with a majority equity interest held by a First Nation,& Joudrie told Crux Investor. “The Selkirk First Nation (SFN) own 18% of the company. They have put a great amount of trust in us. They want this mine to go into production. I'm comfortable that we are doing the right things, but I don't want anyone to think it&s easy. We need to work at this key relationship, continually over the life of this operation and into the future.&

“We've been able to drill over 105,000 meters in the last 12 months on an asset that hasn't seen a drill turn on it in four years. Selkirk Copper has a team of mine-builders that can get it done. The global copper market is short copper. It's very short on the quality of copper concentrate we can produce, about 38% copper. That's pretty rare.&

“We're leveraging over $330 million of above-ground investment by prior operators,& continued Joudrie. “Our team is pleased with the results of the recent PEA. It has flagged things that we should improve on. That's part of the study. But it&s given us full confidence that we can move forward with a 13-year mine life, which is the longest mine life this asset has ever had.&

“We&re happy with the PEA economics,& Scott Fulton, Selkirk VP of Engineering, confirmed to Guy Bennett, CEO of Global Stocks News (GSN). “Our engineers and mine planners have been working collaboratively throughout the PEA with a team of engineering consultants hired independently by The Selkirk First Nation.&

“This is a robust, complete and comprehensive review of all aspects of the mine design, processing plant and infrastructure engineering,& added Fulton. “All costs have been built up from first principles over the Capex, Opex and Susex periods. Certain pre-capex costs are not included in the PEA economic model. We estimate these costs to be about $20 million.&

Because of key operational and financial variables, the SCMI PEA baseline economics are conservative. For instance, the headline Net Present Value (NPV) number (C$494 million) is based on a copper “planning price& of $5.00/lb.

At the current copper price of US$6.50/lb, the after-tax NPV more than doubles to C$1.023 billion. Consensus copper price projections indicate a long-term upward trend, driven by green energy electrification, AI data centre demand and mine-supply deficits. A hypothetical $1/lb increase to $7.50/lb adds another $362 million to the projected NPV.

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“The PEA confirms that we have a pathway to put the Minto Mine back into production, with a low capital expenditure (capex),& added Fulton. “A 13-year mine plan is a good start. There is potential to the north and south of the Minto Mine that I believe could turn this into a multi-decade project.&

Note: readers are cautioned that the PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied that would enable these resources to be categorized as Mineral Reserves. There is no certainty that the projections in the PEA will be realized. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

As of October 14, 2026, 54,711 metres of drilling have been completed in 223 drill holes, representing 109% of the planned meterage. The drill program is nearing completion. All geological logging, core cutting, and sample shipping are expected to be complete by early November.

Technical aspects of this release have been reviewed, verified and approved by Leif Bailey, P.Geo., Director of Geoscience & Exploration of Selkirk Copper Mines Inc., who is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Disclaimer: Selkirk Copper Mines paid GSN C$1,750 for the research, creation and dissemination of this content.

Contact: [email protected]

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