King Copper Discovery gets DIA approval for 36,010 m drill at Colquemayo

VANCOUVER, British Columbia, July 06, 2026 (GLOBE NEWSWIRE) -- King Copper Discovery Corp. (“King Copper” or the “Company”) (TSX-V: KCP, OTCQB: TBXXF, FSE: 3RI) is pleased to announce that it has received, through its 100%-owned subsidiary in Peru, Aurora Copper Peru SAC, approval of its Declaración de Impacto Ambiental (“DIA”) for the Colquemayo Project (“Project”), located in southern Peru. The approval of the DIA represents a significant milestone in the advancement of the Colquemayo Project and provides the environmental certification required to proceed toward the Company’s exploration and drilling activities. The permit authorizes up to 36,010 metres of diamond drilling from 40 drill platforms comprising up to 59 drill holes.

The Company is fully funded for the 36,010-metre drill program. Jonathan Richards, Chief Executive Officer, commented : “The approval of the DIA is the most important corporate milestone achieved by the Company since acquiring Colquemayo. This approval represents a major step toward the commencement of our planned drill program and advances us toward testing the geological model that underpins our conviction in the Project.

Historical drilling identified extensive copper mineralization across a large hydrothermal system, including significant intercepts such as 237.3 metres with 2.4% copper in COQ-10-36. Our recent technical work, including the relogging of over 20,000 metres of historical drill core and a comprehensive geological reinterpretation, has strengthened our understanding of the Project and identified several priority targets for drill testing below the historic drilling. With this milestone now achieved, we are advancing toward the next phase of exploration and the opportunity to drill test the broader copper potential of Colquemayo.” DIA Approval Highlights The approved DIA authorizes: Up to 36,010 metres of diamond drilling Up to 59 drill holes from 40 drill platforms Exploration activities across multiple priority target areas identified through the Company’s geological reinterpretation and targeting work Supporting infrastructure required to execute the planned exploration program The approved exploration footprint provides King Copper with the flexibility to systematically evaluate multiple target areas across the Colquemayo Project and execute a phased exploration strategy designed to target new discoveries within this large copper system.

Chico Azevedo, VP of Business Development, commented: “The high-grade potential of the Colquemayo mineralized system is illustrated by prior drilling that returned up to 15.15 metres of 27% copper, within a broader intercept of 237.3 metres of 2.4% copper starting at a down-hole depth of 306.25 metres in hole COQ-10-36. The approval of the DIA is an important milestone, and we thank the local communities for their support and collaboration throughout the permitting process. In addition to targeting extensions to this high-grade epithermal mineralization, we intend to follow up on indications of an underlying copper porphyry system identified in prior drilling.

Our exploration model at Colquemayo draws on its similarities to linked epithermal and porphyry systems in the Andes, a prime example being Filo del Sol in Argentina.” Advancing the Colquemayo Copper Project The Colquemayo Project is located in an area with copper-producing mines, including Cerro Verde, Quellaveco, Cuajone and Toquepala, in one of the world's most prolific copper-producing regions. Historical exploration at Colquemayo identified extensive high-grade enargite mineralization across multiple breccia-hosted zones below a lithocap extending approximately 12 kilometres in strike length and 3 to 4 kilometres wide. Since acquiring the Project, King Copper has completed a comprehensive review of historical geological, geochemical and drilling data, including detailed core relogging, geological reinterpretation and 3D geological modelling.

This work has provided valuable geological insights that have enhanced the Company’s understanding of the broader mineralized system and helped identify several priority targets for follow-up drilling, including copper porphyry targets below the enargite breccias. What the DIA Approval Enables The approved 36,010-metre drill program is designed to: Drill test priority targets identified through geological reinterpretation, core relogging and geological modelling Evaluate mineralization below the depths tested by the historical drilling Advance the Company's understanding of the relationship between the extensive high-sulphidation epithermal system and multiple underlying porphyry targets A Major Milestone The receipt of the DIA marks the culmination of extensive environmental, technical and stakeholder engagement efforts and represents a critical step toward executing the Company's exploration strategy. With this key permitting milestone achieved, King Copper is positioned to advance from project evaluation and target generation toward active drill testing of the geological concepts that support the Company's exploration thesis at Colquemayo.

Next Steps With the DIA now approved, the Company is advancing toward mobilization and execution of its planned 36,010-metre exploration drilling program, including completion of the logistical and regulatory requirements. The Company appreciates the constructive participation of local communities throughout the DIA permitting process, looks forward to continuing to work with all stakeholders as the Project advances and remains committed to maintaining open and transparent engagement. Additional details regarding program timing, target prioritization and operational planning will be provided as these activities progress.

On behalf of the Company, Jonathan Richards, Chief Executive Officer and Director. Contact Information: Harp Gosal | Director of Capital Markets & Communications E: hgosal@kingcopperdiscovery.com Website: www.kingcopperdiscovery.com Address: #1212 - 1030 West Georgia St, Vancouver, BC V6E 3M5 For Investor Relations enquiries, please contact +1 604 218 1142 Statements About King Copper Discovery Corp and Our Projects: King Copper is a TSXV-listed exploration company focused on the Colquemayo copper-gold project in South America. The Company is led by a team responsible for multiple copper-gold-silver discoveries.

Forward Looking Statement:  This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements, including the future commencement of various exploration activities including drilling.  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Factors that could cause the actual results to differ materially from those in forward-looking statements include the receipt of regulatory approvals, market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made.

Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 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 or has in any way approved or disapproved of the contents of this press release. Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Douglas Kirwin, M.Sc., FGS, FAusIMM (CP), FSEG, a technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Globe Newswire July 6, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com