Coyote Copper Mines receives Phase 1 drill permits at Copper Springs

Toronto, Ontario--(Newsfile Corp. - September 15, 2026) - Coyote Copper Mines Inc. (TSXV: CCMM) (" Coyote Copper " or the " Company ") is pleased to announce that it has received full approval for its Phase 1 drill permits at the Company's wholly owned Copper Springs Project (the " Project "), following completion of its Plan of Operations. A total of 37 drill locations has been authorized, each capable of hosting multiple drill holes. The Company has three (3) years to complete drilling and reclamation activities.

Dan Weir, CEO of Coyote Copper Mines Inc., stated: "Receiving our Phase 1 drill permits allows us to begin testing what we believe is a very large porphyry copper system. The scale of the geophysical anomalies, the strength of copper geochemistry, and the structural and intrusive architecture we have mapped all point to a significant mineralized environment. Several major mining companies have already visited the Project - some multiple times - and their technical feedback has reinforced the potential we see at Copper Springs. With 37 approved drill sites, expanding geophysical coverage, and a growing land package, we are entering Phase 1 drilling with a disciplined, systematic approach. We look forward to advancing this exceptional project."

Figure 1. The Arizona Copper Triangle and Coyote Copper Mines Copper Springs Project

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This Phase 1 drilling campaign (the " Campaign ") will test both shallow oxide and deeper sulphide Copper targets across the Copper Springs Project. The targets were defined through successful prior exploration programs, including mapping, sampling, and multiple generations of geophysical surveys. Additional soil sampling, channel sampling, and new geophysical work are underway to refine drill targeting. Permitting for Phase 2 drilling will begin shortly.

Figure 2. Phase 1 permitted drilling sites at Coyote Copper Mines Copper Springs Project

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Operating copper mines across the western United States typically report grades between 0.2% and 0.5% Cu . Capstone Copper's Pinto Valley Mine, located just north of Coyote Copper's project, has a Proven and Probable grade of 0.32% Cu . Achieving similar grades during drilling would be highly encouraging.

The Company is also expanding its land position with the staking of 111 new claims (20.66 acres each), increasing the Project's footprint from 63.33 km² (15,649 acres) to 72.36 km² (17,880 acres) .

Updated Geophysical Programs

Phase 1 of the 2D Induced Polarization (IP) survey is underway, covering 17 line-kilometres across lines L1 through L7 in the central-eastern portion of the Project. Completion is expected by mid-September.

Phase 2 of the IP program (lines L8 through L12) will focus on the Gibson area and the surrounding "Donut" feature identified in earlier surveys.

Figure 3. The "Donut" geophysical feature and outlined Phase 1 and 2 IP program lines.

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A combined CSEM-MT and SIP survey will begin around September 21st, covering the remaining areas not included in the February 2026 program.

Figure 4. Proposed CSEMT and SIP survey program stations at Coyote Copper Mines Copper Springs Project

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The Copper Springs Porphyry Copper System - the Conceptual Exploration Target

Based on the current geophysical and geochemical dataset, the Project area hosts a 3 km × 3 km × 1.4 km subsurface anomaly interpreted to represent a large intrusive-hydrothermal center consistent with a Porphyry Copper System. Surface and near-surface soil and bedrock sampling has returned copper values up to 1,000 ppm (0.1%) , indicating strong hydrothermal signature and confirming the presence of a significant mineralized footprint.

The scale of the geophysical anomaly and the strength of copper geochemical anomalies are consistent with Tier-1 porphyry copper systems such as those found in the Arizona Copper Triangle , where large open-pit deposits typically grade 0.2 to 0.5% Cu with localized higher-grade zones.

The Project therefore represents a high-priority, Tier-1-scale exploration target , warranting systematic drilling to evaluate the presence, continuity, and grade of copper mineralization.

Notice of Warrant Acceleration

Certain warrants to purchase common shares of the Company (the " Warrants ") contain the following provision:

"Upon the Company receiving its drill permits, then the Company may deliver a notice (the " Acceleration Notice ") to the Warrant holder notifying such Warrant holder that the Warrants must be exercised within thirty (30) calendar days from the date of the Acceleration Notice, otherwise the Warrants will expire at 4:00 p.m. (Toronto time) on the thirtieth (30th) calendar day after the date of Acceleration Notice."

At a recent meeting of the Board of Directors of the Company, it was approved to accelerate the Warrants upon receipt of the Phase 1 drill permits.

The following Warrants are affected by the acceleration clause:

7,519,044 Warrants with an exercise price of $0.15 from a financing that was completed in July and August of 2025.

1,644,174 have been exercised

The balance outstanding is 5,874,870

If all Warrants are exercised $881,230.50 would be received by the Company .

10,859,990 Warrants with an exercise price of $0.20 from a financing that was completed in January and February of 2026

285,716 have been exercised

The balance outstanding is 10,574,274

If all Warrants are exercised $2,114,854.80 would be received by the Company.

1,052,152 finder's Warrants with an exercise price of $0.14 from a financing that was completed in January and February of 2026

None have been exercised

If all Warrants are exercised $147,301.28 would be received by the Company

The total amount to be received by the Company if all Warrants are exercised would be $3,143,386.58.

The acceleration date is the date of this press release being September 15, 2026. Notice of the acceleration of the Warrants is also being sent separately to all holders of Warrants.

Warrant holders will have until October 15, 2026 at 4:00 p.m. (Toronto Time) to exercise their Warrants, or these Warrants will expire.

To exercise Warrants a holder of Warrants should:

Fill out the back of the Warrant certificate and email it to DanWeir@CoyoteCopper.com by October 15, 2026 at 4:00 p.m. (Toronto Time); and

Send a money wire transfer for the exercise price of the Warrants which must be received by the Company by October 15, 2026 at 4:00 p.m. (Toronto Time).

Note: The Company has also issued 17,176,742 warrants in connection with a financing which were issued on May 28, 2026 and June 15, 2026. The exercise price of these warrants is $0.50. These warrants do not have an acceleration clause.

Qualified Person

Michael N. Feinstein, PhD, CPG, is a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical disclosure contained in this press release. Mr. Feinstein is independent of the Company.

For more information, please contact: Dan Weir CEO, Coyote Copper Mines Inc. DanWeir@CoyoteCopper.com Tel: +1-416-720-0754

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been and are not expected to be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and may not be offered or sold within the United States or to U.S. persons absent registration or an applicable exemption from registration requirements.

Cautionary Statement Regarding Forward Looking Information

This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company.

Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information in this news release includes, without limitation, statements regarding, planned exploration activities including drilling, permitting for exploration, environmental remediation outcomes, and the potential for mineral resource delineation on the property. Forward-looking information is based on currently available financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management's current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to, those risk factors applicable to mineral exploration companies, including risks related to title to mineral properties, environmental liabilities, permitting delays, exploration results, and commodity prices. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314340

TMX Newsfile

September 15, 2026 - 4:00 AM PDT

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