Pecoy Copper Phase 1 Metallurgical Review Identifies Potential Step-Change in Gold Recovery and Optimization Opportunities

VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- Pecoy Copper Corp. (“ Pecoy Copper ” or the “ Company ”) ( TSXV: PCU; FSE: D5E; OTCQB: PCUUF ) is pleased to announce the results of a Phase 1 independent metallurgical review completed by Global Resource Engineering Ltd. (“ GRE ”) on the Company’s Pecoy copper-gold-molybdenum-silver project in Peru (“ Pecoy ” or the “ Project ”). Historical metallurgical work at Pecoy was designed to optimize copper recovery and concentrate quality. GRE’s Phase 1 review re-examined the historical test work, metal deportment and flotation performance through a broader payable-metals lens, reflecting the potential contribution of gold, silver and molybdenum in the current commodity price environment.

The review identified opportunities to improve gold recovery while maintaining a marketable copper concentrate grade and commercially acceptable concentrate quality. The Phase 1 review outlines: A potential to significantly improve gold recovery; Continued strong copper recoveries and marketable concentrate grades; and Molybdenum optionality, including the potential of a separate molybdenum concentrate, which could introduce a second payable product stream. Table 1: Updated Phase 1 Base Case Recovery Estimates Identified for Phase 2 Validation *Primary weighted average is based on the South Breccia and Primary Granite domains and does not represent updated recoveries for oxide, supergene, enriched, transitional or leached material.

The updated recovery estimates remain subject to validation through Phase 2 metallurgical test work. “This work represents an important evolution in how we evaluate Pecoy,” said Vincent Metcalfe, President and CEO of Pecoy Copper. “Historical metallurgy was successful