Althea Copper completes 100% acquisition of Mink Narrows

Vancouver, British Columbia--(Newsfile Corp. - October 7, 2026) - Althea Copper Corp. (CSE: ALTH) ("Althea" or the "Company") is pleased to announce that it has exercised its option to acquire a 100% interest in the Mink Narrows property (the "Property") located approximately 25 km southeast of Flin Flon, Manitoba, pursuant to the mineral property option agreement dated October 1, 2024 (the "Option Agreement") with Voyageur Mineral Explorers Corp. (now Evolve Royalties Ltd.) ("Evolve").

Terms of the Acquisition

To complete the final option payment due on the second anniversary of the Option Agreement, the Company issued 1,250,000 common shares to Evolve at a deemed price of $0.12 per share (the closing price on September 30, 2026), representing $150,000. The shares are subject to a statutory hold period expiring February 2, 2027.

On exercise of the option, the Company granted Evolve a 2% net smelter return royalty on the Property. The Company may purchase one-half of the royalty (1%) for $1,000,000. The Company will now file the claim transfer documents with the Province of Manitoba.

Following the issuance, the Company has 22,249,999 common shares issued and outstanding.

"We are very pleased to have completed our CSE listing in August, and securing 100% ownership of Mink Narrows is the next important milestone for Althea," said Lowell Kamin, President and CEO. "We now own outright a historically drilled copper-zinc system in one of Canada's most productive base-metal districts. Our technical team is focused on turning decades of historical work and our 2024 geophysics into a modern, testable geological model and a disciplined exploration program. As a publicly traded company, our focus is advancing Mink Narrows, while remaining open to opportunities that can create additional value for our shareholders."

The Mink Narrows Property

The Property covers approximately 6,984 hectares within the Flin Flon-Snow Lake greenstone belt. It hosts the historical Copper Reef deposit; a volcanogenic massive sulphide (VMS) copper-zinc system first explored in the 1920s and later investigated by operators including Falconbridge and Hudson Bay Mining & Smelting.

A 1969 historical estimate at Copper Reef outlined approximately 500,000 tons grading approximately 1.5% Cu and 0.5% Zn (see Historical Estimate below). Approximately 26 holes totaling more than 4,000m have been reported at Copper Reef since 2000, with mineralization intersected at up to 500 metres vertical depth.

In 2024, a property-wide Xcite™ time-domain electromagnetic (TDEM) and magnetic survey totaling more than 1,200 line-km at 100 m line spacing identified a conductive trend more than 15 km long with multiple untested targets. Copper Reef occupies a small (<500 m) portion of that trend. Because VMS deposits commonly occur in clusters, the Company believes the trend warrants systematic testing.