Haib Copper Project Updated PEA

VANCOUVER – Koryx Copper Inc. recently completed Preliminary Economic Assessment (PEA) for the Haib Copper Project in southern Namibia.
Heye Daun, President and CEO reported, “We are highly encouraged with the very good results of this PEA, notwithstanding the fact that it is still based on the 2024 Mineral Resource model and does NOT yet reflect all of the excellent drill results produced since late 2024. The objective of this PEA was (i) to right-size and optimize the Haib project and reposition it as a credible, low-risk, large-scale, low-cost, high-return, open pit milling & flotation operation, and (ii) to demonstrate Koryx’s material undervaluation when compared to other Cu development equities.
With a Cu production rate of 92,000 tonnes per annum, a post-tax NPV8% of +US$1.35n, upfront capital cost of US$1.56bn, low C1 cash cost of US$1.81/lb of Cu (AISC of US$2.05/lb of Cu during the first 10 years of production and a long mine life of 23 years, Haib stands out as an emerging, top-quality, near-term African copper development project.
What makes this project truly unique however are a few of its key attributes, namely its simplicity, scalability, low risk, ideal location at low altitude, close to water and power infrastructure, with low capital intensity, low operating costs, a predictable permitting environment and lack of any technical, environmental or social fatal flaws. This suggests that this project could be rendered shovel-ready, with an advanced feasibility study, secure water and power supply and most major permits in place within just a few years.
Lead by a strong and motivated technical team that has the drive and in-country experience of having recently advanced and permitted a major gold mine development in Namibia (Osino Resources’ Twin Hills gold project which is presently in construction), we look forward to successfully delivering another excellent large-scale mine development project in Namibia (now our 3rd one in the past 15 years).”