Selkirk Copper and Skagway launch scoping study on critical mineral concentrate shipping

Vancouver, British Columbia, Pelly Crossing, Yukon and Skagway, Alaska--(Newsfile Corp. - August 17, 2026) - Selkirk Copper Mines Inc. (TSXV: SCMI) (FSE: IO20) (OTCQX: SKRKF) (" Selkirk Copper " or the " Company ") and the Municipality of Skagway Borough ( "Skagway" ) (collectively the "Parties" ) are pleased to announce that work is now commencing on a scoping study (the " Scoping Study ") to evaluate options to safely, environmentally responsibly, and sustainably ship critical mineral concentrates through the Port of Skagway, pursuant to a Funding Agreement entered into by the Parties on July 17, 2026. Selkirk Copper will provide funding up to US$200,000 to complete the Scoping Study to establish a critical mineral shipping methodology that meets the needs of Skagway and its citizens as well as the future shipping requirements of Selkirk Copper.

In 2025 and 2026, the Parties collaborated to develop a scope of work and objectives for the Scoping Study, Skagway then conducted a competitive process to select an engineering consultant, experienced in port design and operations, and the use of modern equipment, controls, and management systems. The Scoping Study was awarded by Skagway to KPFF Consulting Engineers (" KPFF ") in May 2026. Finalizing the terms of the Funding Agreement allows Skagway and KPFF to proceed with the Scoping Study, which is expected to be complete in September 2026.

M. Colin Joudrie, President & CEO, commented: "Creating a modern, cost-effective, and environmentally responsible option to ship Selkirk Copper's high value copper-gold-silver concentrate to the global market is a critical part of our mine restart strategy. Working with the Municipality and Port of Skagway over the past year, to create a detailed assessment of the options available for shipping critical mineral concentrates to market, that meet the needs and expectations of the community and the operational requirements of the Port of Skagway, has been time well spent."

Orion Hanson, Mayor, Municipality of Skagway, commented: "The Port of Skagway is an integral part of tourism, industry, and commerce in Southeast Alaska and the Yukon Territory. Our Ports and Harbors Advisory Board and the Borough Assembly are looking for opportunities to diversify the economy of Skagway in an environmentally responsible manner. Working with Selkirk Copper presents Skagway with the opportunity to assist in responsibly delivering critical mineral concentrates to market in a mode that meets the needs of the citizens of Skagway. Our team looks forward to working with Selkirk Copper and KPFF to create sustainable value for the citizens of Skagway."

About Selkirk First Nation

Selkirk First Nation is centered in Pelly Crossing, a community in central Yukon, 280 km north of Whitehorse. They are a self-governing First Nation, having signed its Final and Self-Government Agreements in 1997. Selkirk First Nation owns 4,740 square kilometers of Settlement Land, including 2,408 square kilometers where they own both the surface and subsurface. Selkirk First Nation is one of three self-governing Northern Tutchone First Nations in the Yukon. The Selkirk First Nation, indirectly, holds a controlling equity stake in Selkirk Copper.