Koryx Copper Announces Planned Continuation to Luxembourg

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VANCOUVER, British Columbia, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. (the “Company”) (TSX-V: KRY) (NSX: KYX) today announced its intention to change its corporate domicile from the Province of British Columbia, Canada to the Grand Duchy of Luxembourg (“Luxembourg”) under a new name, Koryx Copper S.A. (the “Continuation”). The Continuation is expected to be effective as of October 16, 2025 and is subject to shareholder and stock exchange approval. The Company’s common shares are expected to continue trading on the TSX Venture Exchange (“TSXV”) and Namibian Securities Exchange (“NSX”) under their current trading symbols, which avoids any disruption related to changing the listing to other capital markets. The Company will remain a Canadian reporting issuer and be subject to applicable Namibian securities laws.

Following a comprehensive review of strategic alternatives, the Company has determined that the Continuation will better align the Company’s legal and corporate structure with its operational footprint and financing strategy. The move is expected to provide expanded strategic flexibility, enhanced access to international markets, and a favourable environment for future investment, while continuing to support the interests of the Company’s shareholders.

Upon completion of the Continuation, the Company will cease to be governed by the Business Corporations Act (British Columbia) and will become a Luxembourg public limited company (société anonyme), registered under the Luxembourg law of August 10, 1915 on commercial companies. The Company also anticipates changing its name from “Koryx Copper Inc.” to “Koryx Copper S.A.”, subject to name availability with the Luxembourg Trade and Companies Register. The Continuation will not affect the continuity of the Company’s business or operations, or its ownership of assets.

The Continuation is subject to the approval of the Company’s shareholders and the TSXV. The Company intends to call a special meeting of shareholders on October 15, 2025 to consider the Continuation and ancillary matters. Further details regarding the Continuation and the time and location of the special meeting of shareholders will be provided in a management information circular to be filed on SEDAR+ and mailed to shareholders ahead of the special meeting.

Norton Rose Fulbright Canada LLP is acting as legal counsel to the Company in connection with the Continuation.

About Koryx Copper Inc.

Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970’s with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date.

Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off).

Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment.

Further details of the Haib Copper Project are available in the corresponding technical report titled, “NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia” dated effective August 31, 2024 (the “Technical Report”). The Technical Report and other information is available on the Company’s website at https://koryxcopper.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca.

More information is available by contacting the Company:

ON BEHALF OF THE BOARD OF DIRECTORS
“Heye Daun”, President & CEO

Julia Becker
Corporate Communications
jbecker@koryxcopper.com
+1-604-785-0850

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Continuation, the anticipated benefits of the Continuation, the impacts of the Continuation on the operations, business and assets of the Company, the Company’s ability to complete the Continuation, the timing for completing the Continuation, the Company’s ability to obtain all necessary approvals for the Continuation, including the approvals of the shareholders and the TSXV, holding a special meeting of shareholders, the continued trading of the Company’s common shares on the TSXV and the NSX, timing for completion of the Company’s intended preliminary economic assessment (the “PEA”) of its Haib Copper Project and the potential projected or processing design capacity for annual copper concentrate production at its Haib Copper Project and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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