Tag: Kincora Copper Limited

Gold-copper explorer and hybrid project generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (“Kincora” or “the Company“) is pleased to have commenced drilling at the Wongarbon porphyry project designed to provide the first ever sample of basement geology and test a prominent magnetic anomaly analogous to the anomalies associated with the largest greenfield discoveries in the Macquarie Arc in recent decades.

John Holliday, Technical Committee chair, commented:

“There is a good chance that the next Cadia-scale deposit in the Macquarie Arc will be found in the covered and underexplored parts of the Lachlan Fold Belt. 

This is virgin territory and a major opportunity with huge upside. Regional magnetics has proven very effective in mapping the prospective Macquarie Arc belts and the major porphyry deposits have identifiable magnetic intrusive complex signatures. The Wongarbon project is a real stand out untested example of this signature in the right location and with the right features.

I am very excited for Kincora to drill the first hole ever into basement geology at Wongarbon. This hole is set to finally test a target that I had first recognised back in 1996 before the Cadia-Ridgeway and Far East discoveries that year. 

Wongarbon is a prime candidate for major discovery, and this first hole will provide very valuable information to assist guide follow up activities.”

Sam Spring, President and CEO and Peter Leaman, VP of Exploration, added:

“Wongarbon is an elephant scale target located in elephant country, favorably located near to and potentially associated with the most significant new porphyry system discovery in NSW of recent decades (the Boda-Kaiser deposits).

While you can’t ever expect to make a discovery with your first hole, regardless this hole will greatly assist follow up exploration and optimise the innovative multi-phase partnership in place with Fleet Space.

Coupled with last month’s funding grant from the NSW Government, the risk reward scenario is highly compelling and unique on a global perspective. The expected cost of less than US$100,000 to Kincora shareholders compares exceptionally well to similar nature targets requiring budgets of greater than US$1-million in the America’s. 

This hole is in-line with Kincora’s capital efficient value add strategy for its sole funded projects and offering shareholders multiple shots on goal with seven different licenses being drilled within a 12-month horizon.”

BACKGROUND

The remaining untested intrusive complexes of the Macquarie Arc porphyry geology are a globally significant exploration opportunity as recently indicated by the significant discovery and resource growth by Alkane Resources’ at the Boda and Kaiser deposits (now 14.7Moz AuEq) and Evolution Mining at the Cowal mine (taking a resource of 3.4Moz Au at the time of acquisition to now 13.8Moz endowment producing over 330,000oz Au in FY2025).

Within the district various exploration groups have been having greenfield and early-stage exploration success at previously untested and open volcano-intrusive complexes of the Macquarie Arc. These groups include AngloGold Ashanti in partnership with Kincora (at the Nyngan, Nevertire South and Nevertire projects), AngloGold Ashanti in partnership with Inflection Resources (at the Duck Creek and Trangie project’s), FMG directly and with Magmatic Resources (latter at the Myall project), Gold Fields in partnership with Gold and Copper (privately held around Cadia, drilling commenced), S2 Resources with Legacy Minerals (at the Glenlogan project), Newmont with Koonenburry Gold (at the Fairholme and Junee projects), Gilmore South (LinQ Minerals) and most recently Waratah Minerals (with its new Consols discovery at the Spur project), amongst others.

In 2024, Kincora opportunistically pegged the Wongarbon project directly from the NSW State (100% ownership) and has brought in a technical and funding partner (Fleet Space). On October 20^th 2025, Kincora announced the award of a grant for up to A$143,483 by the State Government supporting drilling.

The award follows a competitive expert panel review process, monies are non-dilutionary and funds drilling on a matched dollar-for-dollar basis. The grant is provided by the Critical Minerals and High-Tech Metals Exploration Program within NSW’s Critical Minerals Strategy 2024-35. These programs reiterate a favorable pro-investment and operating environment in NSW, with the Macquarie Arc being Australia’s foremost porphyry region and a Tier 1 global copper-gold jurisdiction.

The Wongarbon license is interpreted to host one of the very few remaining, completely untested, volcano-intrusive complexes of the Macquarie Arc. The license covers a large (173km²) portion of the interpreted Macquarie Arc geology situated under post mineral cover that has not previously been drill tested or sampled.

The Wongarbon project was a priority for drilling in 1996 by Newcrest Mining (led by John Holliday) before the discoveries at Cadia-Ridgeway and Far East (latter now known as Cadia East) within three holes of each other that year. Almost thirty years later, Wongarbon remains undrilled and John Holliday is leading Kincora’s exploration strategy at the project and seeking to finally advance the geological understanding of this new district scale opportunity and a compelling large porphyry system target.

Figure 1: The Wongarbon project is interpreted to hosts one of the few remaining large and untested intrusive complexes of the Macquarie Arc and be located within a common transverse structure to the recent 14.7Moz gold equivalent Boda and Kaiser porphyry discoveries.

Virgin ground on strike and potentially associated with common transverse structures to the best greenfield discoveries in the Macquarie Arc in recent decades + new gen tech partnership with Fleet Space + NSW Government Grant.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/274905_kincora1.jpg

Both Alkane and Magmatic Resources are undertaking exploration and drilling at up to seven targets along a common transverse structure that is interpreted to potentially extend into the Wongarbon license and be a key control to the 14.7Moz AuEq resource inventory at the Boda and Kaiser porphyry copper-gold discoveries.

It is well documented that the composite volcanic and intrusive complexes elsewhere in the Macquarie Arc have large alteration and geochemical halos that are identifiable from regional geophysical surveys (features interpreted to be present at the Wongarbon project), with the mineralised deposits generally situated on intrusive level cross-arc structures (such as those currently being tested by Alkane and Magmatic, hosting the Boda-Kaiser deposits, and, interpreted to extend into the Wongarbon project). The latter interpretation is also supported by recent proprietary surveys and interpretation at the Boda-Kaiser deposits by Fleet Space, who Kincora has partnered with to advance the Wongarbon project.

The commence drill hole utilises cost effective mud-rotary drilling cover sequence and diamond core drilling in the basement rocks with NQ triple tube diameter diamond core tail. This technique is time and cost effective for gaining initial samples of porphyry-prospective basement and is being used by Kincora in similar terrain in the Northern Junee-Narromine Belt at the Nyngan, Nevertire South and Nevertire projects under the earn-in and joint venture agreements with AngloGold Ashanti.

Figure 2: Kincora has commenced drilling the first hole to basement at the Wongarbon project (EL9652) testing southern section of the Wongarbon Magmatic Complex.

A ~650m rotary mud-diamond tail hole seeks to test a large buried magnetic anomaly interpreted as a copper-gold porphyry target.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/274905_f3ec9fb3a420a87c_004full.jpg

For further details and technical disclosures on the Wongarbon project, please refer to the following press releases:

October 22^nd, 2025, “Kincora awarded drilling grant for Wongarbon project”
October 15^th, 2024, “Kincora announces Strategic Investment & Expanded Partnership with Fleet Space”
June 3^rd, 2024, “New Major, Completely Unexplored Porphyry Complex and Drill Targets Secured”

Further details are available on the NSW Government’s Critical Minerals and High-Tech Metals Exploration Program and the Critical Minerals Strategy 2024-35 are available at: https://www.resources.nsw.gov.au/invest-nsw/industry-support.

For further details on Fleet Space Technologies, please go to its website at: https://www.fleetspace.com/.

For further information, please contact:
Sam Spring, President and Chief Executive Officer	Laurie Thomas, Strategic Advisor
sam.spring@kincoracopper.com or +61431 329 345	laurie.thomas@kincoracopper.com or +1306 341 3826
Media Contact
Julia Maguire, Managing Director, The Capital Network julia@thecapitalnetwork.com.au or +61 2 7257 7338
Executive office	Subsidiary office Australia
400 – 837 West Hastings Street	C/- JM Corporate Services
Vancouver, BC V6C 3N6, Canada	Level 6, 350 Collins Street
Tel: 1.604.283.1722	Melbourne, VIC, Australia 3000

About Kincora: Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia’s Lachlan Fold Belt and Mongolia’s Southern Gobi, two of the globe’s leading porphyry belts, and the historical Condobolin mining field within the Cobar Basin in NSW.

The Company has already unlocked over $100 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of drilling and over A$6.5m of partner funded exploration since late 2024, with management fees and exploration ramping up.

Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.

By having a significant portfolio of partner funded large porphyry projects, and a very focused program on a 100% owned Condobolin project, the Company is seeking to position Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the leading project generator on the ASX.

To find out more, please refer to our 2-page July 2025 corporate strategy: https://kincoracopper.com/corporate-strategy/.

The Company’s website is: www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763).

Qualified Person
The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101

JORC Competent Person Statement
Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274905

Gold-copper explorer and hybrid project generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to announce the award of a A$143,484 co-funding grant for a drilling and the first ever hole to basement geology at the Wongarbon project.

Sam Spring, President and CEO, and Cameron McRae, Chairman of Kincora commented,

“Kincora only secured the Wongarbon project directly from the State mid last year. Since, we have formed an innovative multi-phase partnership agreement with Fleet Space Technologies supporting cutting edge multiphysics, with maiden drilling to shortly commence following this non-dilutive grant. The grants to 18 explorers, including 11 drilling programs, follows a competitive expert panel review process of applications, which were in very high demand.

We would like to thank the NSW Government for the direct financial support to Kincora and the wider industry via the Critical Minerals Strategy 2024-35. These programs provide a strong pro-investment and pro-exploration to mining message to all stakeholders.

As indicated by recent US Government policy, copper is one of, if not the most critical of the critical minerals due to its essential role in the energy transition and national security, and essential role in industrial production and the wider economy.

Recent discoveries in both the Macquarie Arc and Cobar Basin highlight the significant potential for further new globally significant copper and other critical mineral projects within NSW’s Lachlan Fold Belt.”

Figure 1: Kincora chair, Mr Cameron McRae, with the Honourable Courtney Houssos MLC, NSW State Government Minister for Finance, Natural Resources, Domestic Manufacturing and Government Procurement
Photo taken October 20, 2025 at the NSW Critical Minerals Investment Showcase

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/271377_940a350ef4b418cc_001full.jpg

About the Critical Minerals and High-Tech Metals Exploration Program

The NSW Government established the Critical Minerals and High-Tech Metals Exploration Program (CMEP) ¹ to support the long-term sustainability of the States resource sector and promote exploration through a co-investment grant model.

The CMEP is a pillar of the Critical Minerals Strategy 2024–35 ¹, which aims to position NSW as a leader in critical minerals and high-tech metals, generating economic prosperity through exploration, mining, processing, recycling and advanced manufacturing.

The $2.5 million program supports various stages of exploration activities on a co-funded 50% basis over the next two years. Six exploration geochemistry, twelve exploration geophysical and eleven drilling grants were awarded to eighteen explorers ². Twenty-one of the twenty-nine grants were focused on copper exploration ².

The CMEP was a highly competitive process with an experienced panel made up of government and independent geoscientists assessing applications. Awards were focused supporting creditable explorers and exploration programs that demonstrate strong prospectivity, technical basis and value for money, and in particular, focused on testing new geological ideas and models in greenfield and near mine site areas.

CMEP is being delivered by NSW Resources, Department of Primary Industries and Regional Development and is funded from the Minerals and Petroleum Investment Fund.

About Kincora: Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia’s Lachlan Fold Belt and Mongolia’s Southern Gobi, two of the globe’s leading porphyry belts, and the historical Condobolin mining field within the Cobar Basin in NSW.

The Company has already unlocked over $100 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of drilling and over A$6.5m of partner funded exploration since late 2024, with management fees and exploration ramping up.

Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.

By having a significant portfolio of partner funded large porphyry projects, and a very focused program on a 100% owned Condobolin project, the Company is seeking to position Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the leading project generator on the ASX.

To find out more please refer to our 2-page July 2025 corporate strategy: https://kincoracopper.com/corporate-strategy/

The Company’s website is: www.kincoracopper.com

For further information please contact:
Sam Spring, President and Chief Executive Officer	Laurie Thomas, Strategic Advisor
sam.spring@kincoracopper.com or +61431 329 345	laurie.thomas@kincoracopper.com or +1306 341 3826
Executive office	Subsidiary office Australia
400 – 837 West Hastings Street	C/- JM Corporate Services
Vancouver, BC V6C 3N6, Canada	Level 6, 350 Collins Street
Tel: 1.604.283.1722	Melbourne, VIC, Australia 3000

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

Qualified Person
The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101

JORC Competent Person Statement
Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

References:

¹ Further details are available on the CMEP and the Critical Minerals Strategy 2024-35 are available at:
https://www.resources.nsw.gov.au/invest-nsw/industry-support

² Further details on the awards of the CMEP available: https://resources.nsw.gov.au/cmep and the accompanying press release “Minns Labor Government unlocks millions for rare earths and copper exploration to meet surging global demand“ October 21^st, 2025 from the the Honourable Courtney Houssos MLC, NSW State Government Minister for Finance, Natural Resources, Domestic Manufacturing and Government Procurement.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271377

Gold-copper explorer and hybrid project generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to announce that it has appointed Kerry Stevenson and Michelle Borromeo to its Advisory Board.

Ms. Stevenson and Ms. Borromeo along with the recent announcement of Brent Cook and Laurie Thomas joining to Kincora’s newly formed Advisory Board (link to news release October 1) will strengthen the Company’s exploration, asset level partner and corporate strategies, and follows the recently oversubscribed non-brokered private placement lead by North American natural resource sector investors Rick Rule and Jeff Phillips.

Sam Spring, President and CEO, and Cameron McRae, Chairman of Kincora commented,

“Kincora is pleased to have expanded our newly formed advisory board with the additions of Kerry and Michelle.

Kerry is a seasoned veteran who has built and sold companies, is a successful financial market investor and business performance coach with a global network best known for her passion for the precious markets sector, including her Australian Gold Conferences, one of which was a huge success earlier this week.

Michelle’s corporate development and communication experience and network in the North American natural resource sector will greatly assist Kincora’s corporate engagement and strategy.

Post the recent non-brokered private placement we are entering a period of significant expected growth in drilling and further deals. The Company has sought to secure highly credentialed personnel to assist with this, looking to support our increased presence in the North American capital markets, and we have done just that with the addition of Kerry and Michelle joining Brent Cook and Laurie Thomas on the advisory board.”

About Kerry Stevenson: Ms. Stevenson is one of Australia’s leading commentators and thinkers in the resources sector with a truly global perspective and network. With over 20 years’ experience in the Australian and international resources sector Kerry’s ability to ask the questions that investors need answers to make her one of Australia’s most successful and sought after interviewer’s, connectors and capital market advisors.

Kerry’s informative podcasts and interviews can be found on her YouTube channel – Making Money Matter. Ms. Stevenson is passionate about connecting people and helping to raise the right companies’ profiles. She hosts the Australian Gold Conference in Sydney, held earlier this week, as well as Gold Coast Gold connecting the precious metals industry with the investment community and is a frequent panelist at many of the leading North American resource events.

About Michelle Borromeo: Ms. Borromeo has 20 years of experience in natural resources, specializing in the capital markets as an Investor Relations, Corporate Communications and Corporate Development executive since 2009.

Michelle began her career in natural resources as a field biologist working in Mexico followed by working for an oil and gas service company in Alberta. Michelle transitioned to the corporate side 15 years ago where she continues to work as a strategic advisor and consultant for various junior mining companies. She holds a Bachelor of Science degree in Biology, with a minor in Geology from Simon Fraser University.

About Kincora: Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia’s Lachlan Fold Belt and Mongolia’s Southern Gobi, two of the globe’s leading porphyry belts, and the historical Condobolin mining field within the Cobar Basin in NSW.

The Company has already unlocked over $100 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of drilling and over A$6.5m of partner funded exploration since late 2024, with management fees and exploration ramping up.

Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.

By having a significant portfolio of partner funded large porphyry projects, and a very focused program on a 100% owned Condobolin project, the Company is seeking to position Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the leading project generator on the ASX.

To find out more please refer to our 2-page July 2025 corporate strategy: https://kincoracopper.com/corporate-strategy/

The Company’s website is: www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer 
sam.spring@kincoracopper.com or +61431 329 345

Laurie Thomas, Strategic Advisor 
laurie.thomas@kincoracopper.com or +1306 341 3826

Executive office
400 – 837 West Hastings Street 
Vancouver, BC V6C 3N6, Canada 
Tel: 1.604.283.1722 

Subsidiary office Australia 
C/- JM Corporate Services 
Level 6, 350 Collins Street
Melbourne, VIC, Australia 3000

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270639

Gold-copper explorer and hybrid project generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to announce that an airborne electro-magnetic (AEM) geophysical survey covering approximately 155km² has been mobilized at the Condobolin project, located in the southern end of the Cobar Basin. Ahead of this survey, Kincora has pegged the adjacent open ground to expand the total project size by 90km².

The AEM survey is expected to generate new near surface targets and refine existing mineralized systems located under shallow post mineral cover, as well as refine potential deeper source feeder zones. These include the Meritilga target where preparations have commenced for a high impact drilling program to test the down dip and on strike extensions of the existing system which hosts broad near surface gold-silver-base metal mineralisation with ore grade intervals (including 4m @ 20g/t gold and 30.2g/t silver from 75m ¹).

In light of near record Australian gold and silver prices, Kincora has commenced a review of prior encouraging drilling results within a paleochannel at the Meritilga target, which has including up to 28.4g/t gold in gravels (from 4m) and 3.99g/t gold in basement (from 28m) ².

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented,

“We are pleased to commence exploration at our wholly owned Condobolin project at a time of significant exploration, development and corporate success in the southern and lesser explored section of the Cobar Basin.

Kincora has a well-planned strategy to explore the extensions of the Condobolin Mineral Field, which has a substantial mining history for high grade gold, silver and base metals.

The project is well located to existing infrastructure, is easy to explore and has very limited effective exploration below the shallow weathering profile. The extent of historical mining, and geochemical and geophysical anomalies, indicate excellent potential for multiple new discoveries. We are looking to systematically use exploration techniques that have already yielded the Meritilga discovery and many new recent discoveries in the north of the district at similar and earlier stage profile projects.

The designed multi-phase campaign is a capital efficient value add strategy at a project that has the potential to excite in the current very strong precious metals environment.”

Figure 1: Kincora has seven major project groups located in Central West NSW, six porphyry and one Cobar style mineral system, all located in world-class geological terrains which host Tier-1 mines

The Condobolin project is in the southern and lesser explored section of the Cobar Basin

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_18516798242cc817_001full.jpg

COBAR DISTRICT

The Cobar Basin has a 150-year history of high-grade, long-life mining and is an important supplier of critical and precious metals. The region benefits from established infrastructure and favourable ESG considerations with significant scope for processing and mining efficiencies, supporting potential consolidation.

The district has recently seen several significant new discoveries utilising modern exploration techniques in lesser explored regions (eg Federation, Achilles, Mallee Bull, Southern Nights and Wagga Tank) and emerging corporate activity (eg Harmony’s A$1.6 billion takeover for MAC Copper (MAC.ASX) and Kingston Resources (KSN.ASX) recently receiving A$50 million cash for the first tranche of its divestment of its PNG Misima project).

CONDOBOLIN PROJECT

The project and regional profiles’ support the Condobolin project being an asset that a junior explorer such as Kincora can add significant value to. A multi-phase exploration campaign of regional scale exploration and target specific drilling has commenced and is fully funded following the Company’s July 2025 non-brokered private placement (C$4m raising with a 12-month hold period).

The Condobolin project was historically the focus of up to 25 informal open pit operations (peak late 1800’s-early 1900’s), with mining impacted by the water table and exploration by the weathering profile. The mineral field has not been effectively explored below the weathered zone (~30m).

Very limited modern exploration has taken with initial activities by Clancy Exploration (Clancy, now RareX Limited) yielding encouraging results at all five prospects drilled (2011-13), including a virgin high-grade gold discovery at the Meritilga Prospect.

More recently within the immediate district, Kingston Resources (ASX: KSN) has significantly expanded the resources and restarted hard rock mining at the Mineral Hill mine, Talisman Mining (ASX: TLM) has recent new success at its Rip N Tear and Durnings targets (to both the immediate north and south of Mineral Hill), while Australian Gold and Copper (ASX: AGC) has excited the market with its new potential district scale discovery at its Achilles target located within the south western extension of the Cobar Basin.

The Condobolin project is located approximately 40km south from the mill at Mineral Hill and north of the Condobolin town (which is the primary source of employees to Mineral Hill operation who drive through the Condobolin project to work) – see Figure 2.

Kincora has consolidated a 100% project ownership and continued to expand our foothold across the near surface potential of the historical Condobolin Mineral Field. The total project size is 297km² across two adjacent licenses with a new license application (latter 90km²) – see Figure 3.

To advance the potential of the wider project and historical mining field, Kincora has mobilised an AEM survey covering over 800 line-kilometres utilising Expert Geophysics Pty Ltd’s (Expert Geophysics) TargetEM26 system. Approximately 20% of the wider project is out-sub cropping with the average depth of cover in non-outcropping areas less than 5 metres supporting very easy exploration with surface geology and sampling being an effective, quick and cheap methods – see Figures 3 & 4.

AEM surveys have proven to be a highly effective discovery technique in this region significantly contribution in several recent discoveries in the Cobar Basin. The survey is a quick low impact method to provide subsurface structure across the full historic Condobolin Mineral Field with an infill survey across multiple targets, including Meritilga, many of which have significant base metal and gold-silver anomalies – see Figures 3 & 4 overlaying lead anomalism from soil sampling.

Figure 2: Regional brownfield and greenfield exploration projects are generating new discoveries and drill targets in a lesser explored but historic mining district

The Condobolin project is located at the southern end of the Cobar Basin, benefits from existing infrastructure and is near the Mineral Hill mill which is seeking organic and inorganic means to fill existing excess mill capacity

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_image2.jpg

The Meritilga target was a new discovery made by Clancy in 2012 following up a coincident 2km x 2km arsenic-lead-zinc (+gold) geochemical anomaly and K-channel radiometric anomaly over ridges east of the historic mines at Mascotte and west of Potters. The anomalies coincided with key NE-striking structures identified in detailed 3D induced polarization (IP) surveys ¹.

The gold, silver and base metals system is situated within a lode with high grade lens (ore grade, eg 4m @ 20g/t gold, 30.2 g/t silver from 75m, including 1m @ 62g/t gold, 60g/t silver in hole CORC029) and a lower grade halo. The lode is a consistent body, open up and down dip ^{1, 3}.

Land access agreements are in place and the permitting process commenced for an up to 15 diamond drill hole program for 4100 metres testing down dip (up to 350m depth) and strike extensions and the potential for repeat high grade lens and/or a stacked series of lenses.

This setting is supported by the last phase of Reverse Circulation (RC) drilling by Clancy, the one diamond hole drilled by Kincora in 2023, coupled with a favourable structural setting where the main Meritilga Fault has been cross-cut by N-S trending faults ⁴.

The current working geological model, underpinned by pathfinder zonation and coincident geophysical anomalies, supports the potential for a larger mineralised intrusive source at depth – see Figure 6. The AEM survey is expected to also better advance and refine these concepts.

Given shifting in commodity prices, Kincora has commenced a review of prior encouraging very shallow gold drilling results of Clancy. In 2011, twenty Air-Core (AC) holes tested the Tilga paleochannel with several significant hits returned. The best intercept was 1m @ 28.4g/t Au (from 4m, hole COAC012 in the gravels) and 3.99g/t Au (from 28m, hole COAC005 in basement) ².

The average depth of the paleochannel gravels was 7.9m with a potential target area of 2km by 0.5km – see Figure 4. The last review of the alluvial gold potential was undertaken by Clancy when the Australian gold price was approximately A$1500/ounce (versus current spot of almost A$6000/oz). The review by Kincora will explore the potential alternatives, budgets and partnering opportunities available to advance the alluvial (placer) gold potential either concurrent with the wider Condobolin project or as a standalone project.

Figure 3: Kincora has increased the size of the total Condobolin project by a third and commenced an airborne geophysical survey across the historic Condobolin Mineral Field

The extent of historical mining, existing near surface geochemical and geophysical anomalies provides excellent potential for multiple new discoveries as Kincora implements modern systematic exploration approaches that have already yielded the Meritilga discovery plus many recent discoveries in the north of the district at similar and earlier stage profile projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_image3_550.jpg

Figure 4: The extent of historical mining, existing near surface geochemical and geophysical anomalies, coupled with limited modern exploration or exploration below the weathered zone provides excellent potential for multiple new discoveries

South-western portion of the Condobolin Project, including the Tilga Paleochannel where prior Clancy drilling supported the potential for alluvial (placer) gold

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_image4.jpg

Figure 5: Limited prior modern exploration by Clancy resulted in the Meritilga discovery with follow up drilling planned to test down dip, on strike and the potential for repeat high grade lens and/or a stacked series of lenses. Many other similar mineral systems in the Cobar Basin are vertically extensive with repeat lodes ⁴.

Meritilga is open with a currently defined high (ore) grade lens and a lower grade halo

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_kincora.jpg

Figure 6: The Condobolin project hosts various polymetallic mineral system styles and deposit targets

Target models included high-grade near surface repeat systems similar to other deposits in the southern end of the Cobar Basin as well as intrusion related gold (IRGS) or porphyry systems at depth

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/270304_18516798242cc817_006full.jpg

About Kincora: Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper explorer with a hybrid project generator strategy.

The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia’s Lachlan Fold Belt and Mongolia’s Southern Gobi, two of the globe’s leading porphyry belts, and the historical Condobolin mining field within the Cobar basin in NSW.

The Company has already unlocked over $100 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of drilling and over A$6.5m of partner funded exploration since late 2024, with management fees and exploration ramping up.

Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.

By having a significant portfolio of partner funded large porphyry projects, and a very focused program on a 100% owned Condobolin project, the Company is seeking to position Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the leading project generator on the ASX.

To find out more please refer to our 2-page July 2025 corporate strategy: https://kincoracopper.com/corporate-strategy/

The Company’s website is: www.kincoracopper.com

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information, please contact:Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Laurie Thomas, Strategic Advisor
laurie.thomas@kincoracopper.com or +1306 341 3826

Executive office
400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722

Subsidiary office Australia
C/- JM Corporate Services
Level 6, 350 Collins Street
Melbourne, VIC, Australia 3000

References:

¹ ASX release of Clancy Exploration Limited (now RareX Limited), titled “New Gold-Silver-Copper Discovery at Meritilga Prospect – Condobolin Project” dated March 20^th, 2012, which can be obtained via the ASX website (www.asx.com.au). The Clancy results were reported in accordance with the version of the JORC Code existing prior to JORC 2012. Mining Associates has completed an review of sampling techniques and procedures dated January 31^st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus. While the Company has no reason to believe the assay results are not reliable, the Company has not independently verified these results. The Company intends to conduct its own exploration programme as described in this release.

² ASX release of Clancy Exploration Limited (now RareX Limited), titled “Condobolin Project Yields Visible Gold and Potential Alluvial Gold” dated January 20^th, 2012, which can be obtained via the ASX website (www.asx.com.au). The Clancy results were reported in accordance with the version of the JORC Code existing prior to JORC 2012. Mining Associates has completed an review of sampling techniques and procedures dated January 31^st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus. While the Company has no reason to believe the assay results are not reliable, the Company has not independently verified these results. The Company intends to conduct its own exploration programme as described in this release.

³ ASX release of Clancy Exploration Limited (now RareX Limited), titled “Gold and Silver Hits Extend Meritilga Lode” dated Jube 17^th, 2013, which can be obtained via the ASX website (www.asx.com.au). The Clancy results were reported in accordance with the version of the JORC Code existing prior to JORC 2012. Mining Associates has completed an review of sampling techniques and procedures dated January 31^st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus. While the Company has no reason to believe the assay results are not reliable, the Company has not independently verified these results. The Company intends to conduct its own exploration programme as described in this release.

⁴ AGC: “Mkt Cap”: market capitalisation as @ COB Oct 9^th, 2025. MAC: takeover from Binding Scheme Implementation Deed with Harmony for MAC Copper Limited, May 27, 2025 Cross sections adapted by Kincora and internals noted from public disclosures from MAC Copper (MAC.ASX) relating to its CSA mine + Australian Gold & Copper (AGC.ASX) relating to its Achilles discovery. Strike & depths reported on the same scale.

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101

JORC Competent Person Statement

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270304

Copper-gold explorer and project generator Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (“Kincora” or “the Company”) is pleased to announce that it proposes to undertake a non-brokered private placement (the “Offering”) at C$0.30 per unit (the “Units”) to raise up to C$4,000,000. All prices and share numbers in this release assume completion of a 10:1 consolidation (“Consolidation”) prior to or concurrent with the Offering.

The Offering is subject to the TSX Venture Exchange (the “Exchange”) acceptance and approvals required under the Australian Securities Exchange (“ASX”) Listing Rules, as well as other regulatory approvals. Concurrent with, or prior to the Offering, the Company intends to complete a consolidation (the “Consolidation”) of the issued and outstanding common shares issued on the Exchange and Chess Depositary Interests (“CDIs”) on the ASX on the basis of ten (10) pre-Consolidation shares being consolidated to one (1) post-Consolidation share. Existing options will be consolidated on the same basis. The Consolidation will be subject to approval from the Company’s shareholders, the Exchange, and ASX.

The Units will comprise one common share (a “Share”) and one common share purchase warrant (a “Warrant”), each Warrant entitling the holder to acquire a further common share at a price of C$0.50 for a term of three (3) years. The Shares will be subject to a one (1) year hold period from the closing date and such other restrictions as may be required by applicable securities laws and stock exchange rules. Fifteen (15) months after the closing date, the Company will have the right to accelerate the expiry date of the Warrants (the “Acceleration”) if the weighted average closing price of the Company’s common shares on the Exchange equals or exceeds C$0.75 (the “Acceleration Price”) for 20 consecutive trading days (the “Acceleration Event”). Upon the occurrence of the Acceleration Event, the expiry date of the Warrants will then be 30 days from the date of issue of a news release announcing the Acceleration.

“This relatively unique financing structure puts Kincora in a strong position to leverage and accelerate our strategy of more drilling, more asset level deals, more management fees and discoveries,” Cameron McRae, Chairman of Kincora, and Sam Spring, President and CEO.

“We’re especially pleased to have this strategy endorsed and financing supported by a number of leading North American natural resource sector investors, including Rick Rule and Jeff Phillips, and other new and existing respected institutional and accredited investors.”

The Company plans to use the net proceeds to fund its ongoing project generation strategy, undertake significant drilling at its 100% owned gold-base metals Condobolin project, as well as for general working capital and corporate purposes.

The Offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the Exchange and shareholder approvals required by the ASX. In the event the Company completes the Consolidation at a ratio other than the 10:1 ratio referenced above, certain provisions of the Offering will be adjusted accordingly, including the price per Unit, the Warrant exercise price and the Acceleration Price. Completion of the Consolidation will be subject to regulatory and shareholder approval. All Warrants underlying the Units will be subject to a four (4) month plus one day hold period and Shares underlying the Units will be subject to a one (1) year hold period from closing.

A portion of the Offering is expected to include a related party transaction within the meaning of Multilateral Instrument 61-101 given the expected participation of one or potentially more existing insiders. The Company is relying on the exemptions in sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 from the valuation and shareholder approval requirements based on the fact that the fair market value of the transactions (as it concerns related parties) is not more than 25% of the market capitalization of the Company.

The Company may pay finders’ fees in connection with the Offering in accordance with the policies of the Exchange.

The Company also announces that, effective July 7, 2025, (the “Grant Date”), its Board of Directors has granted an aggregate of 3,266,927 stock options (on a post-Consolidation basis) of the Company to certain directors, officers, and consultants of the Company, with all of such stock options (the “Conditional Options”) being subject to the receipt of the applicable approval of the disinterested shareholders of the Company, acceptance of the Exchange and approvals required under the ASX Listing Rules. All such stock options shall be exercisable to purchase one common share in the capital of the Company at $0.50 per Share (on a post-Consolidation basis) for a period of three (3) years from the Grant Date and such other terms as may be acceptable to the Exchange.

The Conditional Options, together with an amended equity incentive plan that will sufficiently increase the reserve of stock options available to the Company, will be presented to the disinterested shareholders of the Company for review and consideration and, if satisfactory, approval at an upcoming Annual General and Special Meeting of Shareholders of the Company.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Kincora Copper

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focussed copper-gold explorer and project generator. The Company is now successfully proving up the prospectivity of its extensive project portfolio, which includes multiple district-scale landholdings and scalable drill ready targets. These assets are located in Australia’s Macquarie Arc and Mongolia’s Southern Gobi, two of the globe’s leading porphyry belts, and the historical Condobolin mining field within the southern section of the Cobar superbasin in New South Wales, Australia.

Kincora is using an asset level partner model to develop and implement exploration strategies for its wholly-owned large-scale exploration stage porphyry projects. It has already unlocked over $110 million of potential partner funding for multiple earlier stage and/or non-core porphyry projects, which has resulted in over A$5.5-million of partner funding and 11,000m of drilling to date. Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated within existing porphyry camps containing over 20 million ounce gold equivalent resource inventory at third party mines and deposits.

These partner agreements, when combined with others in the pipeline, are targeted to provide sufficient project management fees for the Company to be self-funding (covering corporate costs and maintenance of remaining wholly owned projects).

Kincora is adopting a different exploration funding model for its Condobolin project, which hosts the historical Condobolin open cut gold and base metals mining field located within the southern section of the emerging Cobar Superbasin. The length of time and capital required to both advance and add significant value to this project is expected to be materially less than that needed to similarly progress the Company’s porphyry projects.

To learn more, please visit: www.kincoracopper.com

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1-604-630-7296

Subsidiary office Australia C/- JM Corporate Services Level 6, 350 Collins Street Melbourne, VIC, Australia 3000

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: Rick Rule and Jeff Phillips’ participation in the Offering; the intended use of proceeds of the Offering; the completion of the Offering; the amount raised under the Offering; the completion of the Consolidation; the Consolidation ratio; adjustment of the price per Unit; Warrant exercise price and Acceleration Price due to the Consolidation; shareholder and regulatory approval of the Consolidation; Exchange acceptance and approvals required under the ASX Listing Rules of the Offering; the acceleration of the Company’s strategy as a result of the financing structure; the Company’s capitalization post-Offering, amongst other potential items. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Readers are cautioned not to place undue reliance on forward-looking information and statements.

Forward-looking information involves numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other items: market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices and investor sentiment; changes in the Company’s business plans; and, operating environments. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include: market prices; exploitation and exploration results; participation in the Offering; shareholder and regulatory approval of the Consolidation; regulatory approval of the Offering; continued availability of capital and financing and general economic; market or business conditions; and, investor sentiment. Accordingly, readers should not place undue reliance on forward-looking information and statements. Readers are cautioned that reliance on such information and statements may not be appropriate for other purposes.

The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257911

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to advise shareholders and investors that it will host an briefing webinar following a major amendment to the Earn-in and Joint Venture Agreement with a wholly owned subsidiary of AngloGold Ashanti plc (“AngloGold Ashanti”) for a further and second joint venture in the Northern Junee-Narromine Belt of the Macquarie Arc supporting total expenditures of up to $100 million.

The expanded partnership represents a significant milestone in Kincora’s exploration and asset level partner strategy.

Kincora’s President & CEO, Sam Spring, will lead the briefing with a short presentation followed by an interactive Q&A session.

Shareholders and interested investors are invited to attend the webinar and participate in the discussion.

Registration is required – please see the details below. A replay will be made available for those registered and at: https://kincoracopper.com/interviews/.

Investor Briefing Details:

	Australian Time Zones	North American Time Zones
Date:	Thursday, 17 April	Wednesday, 16 April
Time:	11:00 am AEST | 9:00 am AWST	6:00 pm Pacific | 9:00 pm Eastern
Format:	Live webinar (online) with replay
Registration:	https://us02web.zoom.us/webinar/register/WN_McaP8yExQYGmMkFoC7iISw

About Kincora Copper Limited
Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on new globally significant copper-gold discovery opportunities.
The Company’s portfolio includes district scale landholdings and scalable drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar superbasin NSW.
Kincora has adopted an asset level partner model for it’s large-scale exploration stage porphyry projects and to date has unlocked over A$110 million of potential partner funding for eight earlier stage and/or non-core projects.
Discussions are ongoing for further agreements for the Company’s remaining four, and generally significantly more advanced and/or proximal to existing world-class mines, porphyry projects in NSW, including Fairholme, Jemalong, Trundle and Nyngan West.
Kincora’s ambition is to be the operator for exploration budgets of over A$10 million per annum for the porphyry portfolio providing sufficient project management fees for the Company to be self funding (covering G&A costs) and have partnerships with a diversified portfolio of industry leading producers/explorers.
For more information please visit Kincora’s website at www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited
(ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248529

Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (“KCC”, “Kincora” or the “Company”) is pleased to announce the execution of a major amendment to its existing agreement with a wholly owned subsidiary of AngloGold Ashanti plc (“AngloGold Ashanti”). The Agreement opens the way for more extensive exploration in the Northern Junee-Narromine Belt (“NJNB”) of the Macquarie Arc, Central West NSW, Australia. The NJNB is a globally significant exploration opportunity offering new district scale porphyry potential.

First phase drilling at the Nyngan project is ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projects, known for their geological similarities to major deposits like Cadia-Ridgeway.

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:

“We are very pleased to broaden our partnership with AngloGold Ashanti. It comes as we continue to progress our ongoing exploration program at the Nyngan project, with a ground gravity survey and hole twelve of the scout drilling program recently completed.

In the wake of this second earn-in our drilling plans have been materially expanded at Nevertire and Nevertire South, and now cover three projects. However, and more importantly, we are well positioned to systematically and aggressively advance a new district scale portfolio of five projects covering over 2350km².

The contiguous five projects cover a strike of greater than 100km, more than twice that of the emerging Vicuña district in the Central Andes, which is also an extension to a known world-class porphyry belt. The revised agreement is structured in a manner which supports Kincora shareholders being carried potentially to the equivalent stage of four pre-development recent discoveries in Vicuña that have a current valuation of over $10 billion.

AngloGold Ashanti is a successful greenfield explorer and while we are only now ramping up our exploration activities with them, they have already invested over $14 million in the NJNB. We are both very excited about the targets being drilled across the first three Kincora projects in 2025.

While Kincora has now unlocked over $110 million of potential partner funding we see ample scope to further significantly grow this figure. The Company is advancing discussions for further large-scale partner agreements and is on track to achieve its ambition for third party management fees to provide a self-funding financing exploration model.”

Figure 1: The Macquarie Arc is a proven Tier 1 terrane and Australia’s foremost copper porphyry belt hosting a number of world-class mines
The Northern Junee-Narromine Belt (NJNB) is a largely untested extension of the Macquarie Arc situated under the post-mineral cover

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/248376_kincoraimg1.jpg

Project generator funding model

Kincora’s asset level partner model for its wholly owned large scale exploration stage porphyry projects, commonly referred to a project generator model in the North American markets, has now unlocked over $110 million of potential partner funding for eight earlier stage and/or non-core porphyry projects¹. Existing partners include:

• AngloGold Ashanti (NYSE: AU) is the world’s fourth largest gold miner by production and is partner for the NJNB project portfolio (including five projects across two joint venture arrangements) ^1(a);
• Fleet Space Technologies Pty Ltd (“Fleet Space”, private) is one of Australia’s fastest growing companies and is widely recognised as Australia’s leading space exploration company. Fleet Space recently raised $150m in a Series D financing. It is Kincora’s partner for the Wongarbon project and recently completed its maiden integrated Ambient Noise Tomography and gravity geophysical survey at the Nyngan project ^1(b,c);
• Earth AI Pty Ltd (“Earth AI”, private), an Artificial Intelligence and Machine Learning explorer. Earth AI recently raised $20m in a Series B financing and is partner for the Cundumbul project ^1(d); and,
• Orbminco Limited (formerly Woomera Mining) is a Mongolian focused explorer and is partner for the Bronze Fox project ^1(e).

Kincora is the current operator of the NJNB project portfolio with AngloGold Ashanti and receives a 10% management fee of expenditure.

Discussions are ongoing for further agreements for the Company’s remaining four (and generally significantly more advanced and/or proximal to existing world-class mines) porphyry projects in NSW, including Fairholme, Jemalong, Trundle and Nyngan West.

The Company plans to retain its Condobolin project, which hosts the historical Condobolin high grade open cut gold and base metals mining field situated within trucking distance to the Mineral Hill mine (which has capacity for, and is seeking, third party ore) and within the southern section of the emerging Cobar Superbasin. The timeline and capital needs to significantly add value and advance the Condobolin project is materially less than the Company’s porphyry projects.

Kincora’s ambition is to be the operator for exploration budgets of over $10 million per annum for the porphyry portfolio providing sufficient project management fees for the Company to be self funding (covering corporate costs and maintenance of remaining wholly owned projects) and have partnerships with a diversified portfolio of industry leading producers/explorers.

Nyngan, Nevertire and Nevertire South Programs

A major amendment to the original Earn-in and Joint Venture agreement with AngloGold Ashanti now includes the Nyngan South, Nevertire South and Mulla projects, which are adjacent to the Nyngan and Nevertire projects (the latter two included in the original May 2024 agreement) and streamlines exploration across a continuous strike that exceeds a 100km’s.

Initial scout drilling activities at the Nyngan project commenced late last year and are ongoing. To date, twelve holes in total have been complete in partnership with AngloGold Ashanti, and follows encouraging results for the first six holes completed in 4Q’2024².

Looking ahead, a recently completed ground gravity survey covering over 400km² has identified a number of new potential targets for drilling. Interpretations and discussions for potential follow up drilling are now underway with AngloGold Ashanti as the scout drilling program continues. Various coincident magnetic and new gravity anomalies have been identified at both the wider South West and Ace of Spades Targets.

A Stage 2 follow up phase of step out drilling is proposed post completion of the scout drilling program.

Under the amended agreement, planned exploration activities have been expanded to support a first phase drilling program at both the Nevertire and Nevertire South projects with unimpeded access across the consolidated ~8 x 12km Nevertire Magmatic Complex (“NMC”).

Prior explorer drilling at the southern section of the NMC has returned anomalous copper-gold mineralisation, favourable fertility defined by green rock analysis, geochemical zonation and alteration suggestive of an outer porphyry system setting with age dates confirming a highly prospective Phase 4 Macquarie Arc intrusive complex (at approximately 220m depth down hole).

Having secured three prior explorer drill holes at the NMC from the Cadia mine site, a review by Kincora’s technical director John Holliday supports Newcrest prior interpretation that “drilling has identified lithologies, alteration and veining consistent with a setting similar to the Cadia-Ridgeway and Goonumbla porphyry Cu-Au deposits” ³.

John is a foremost figure on Macquarie Arc porphyry systems having been a principal originator, discoverer and site manager for the Tier 1 Cadia gold-copper porphyry and the Marsden copper gold porphyry deposits.

A priority for the upcoming drilling program is an initial follow up program to prior Newcrest hole ACDNY006 which returned a very encouraging intersection of anomalous copper mineralisation (from basement to end of hole), veining and magnetite alteration situated in a high volcanic-hosted level ³.

Prior Newcrest drilling supports Kincora’s view of the planned walk up drill targets within the Nevertire South project underpinning the most advanced and geologically prospective porphyry project within the NJNB district.

A planned drilling program seeks to step out from hole ACDNY006 to discover or create a vectoring pattern to a possible deposit and also test open extensions to the NMC – see Figure 2.

The drilling programs at the Nyngan, Nevertire and Nevertire South projects are expected to run into the third quarter of 2025, providing a steady stream of news flow and management fees to the Company.

Key terms of the Earn-in and Joint Venture Agreement

The key terms of the amended agreement with AngloGold Ashanti Australia Limited, a wholly owned subsidiary of AngloGold Ashanti plc, covering the Nyngan South (Exploration Licence 9708), Nevertire South (Exploration Licence 9710) and Mulla (Exploration License 9320) projects (“New Tenements”), are in addition to the arrangement in respect of the original May 2024 agreement for the Nyngan (Exploration Licence 8929) and Nevertire (Exploration Licence 8960) projects and, in summary, comprise:

• AngloGold may earn a 70% initial interest in the New Tenement by incurring $25 million in total expenditure on exploration in the initial earn-in period of up to seven years upon which a joint venture would be formed (Phase I). This includes a minimum expenditure of $2 million within the first two years (Minimum Obligation). AngloGold is permitted to withdraw from the Agreement after satisfying the Minimum Obligation or payment of any shortfall.
• AngloGold can then earn an additional 10% interest in the New Tenements (for a total interest of 80%) by completing a Pre-Feasibility Study (PFS) or by funding a further $25m of expenditure over an additional three years (Phase II).
• Kincora will initially operate and conduct all exploration activities as directed by an Exploration Management Committee that will comprise two members from each party, and be entitled to a 10% management fee.
• The amended agreement is otherwise on terms that are customary for similar agreements and includes the agreed principal terms of the proposed joint venture agreement that will apply if AngloGold earns an interest in the NJNB tenements.
• All expenditure timelines under the Agreement can be accelerated.
• The amendments to the existing agreement are conditional on Ministerial consent being obtained within six months.

Refer to the May 28, 205 release “AngloGold Ashanti to earn-in to the NJNB Project” for details for the original Earn-in and Joint Venture Agreement for the Nyngan and Nevertire projects.

About the NJNB Project Portfolio

The Macquarie Arc is Australia’s premier porphyry copper-gold province being a hotspot for recent corporate activity, with over $16 billion of M&A for producing assets and over $385m of exploration earn-in/joint ventures, and exploration success, including two greater than 10Moz gold equivalent discoveries/resource expansions ⁴.

Despite regional magnetics effectively mapping the Macquarie Arc volcanic belts, due to the post mineral cover there has been very limited prior drilling of the extensions of both the Junee-Narromine and Molong volcanic belts relative to the southern more outcropping sections. These more mature southern exploration regions host over 160Moz gold equivalent inventory ⁵ and a number of world-class mines (Cadia, Cowal and Northparkes).

Kincora’s portfolio and the wider NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, gravity and new Ambient Noise Tomography (ANT) surveys, supportive of large-scale targets analogous to porphyry deposits located in the southern section of the Arc. AngloGold Ashanti has secured Earn-in and Joint Venture Agreements with both Kincora and Inflection Resources (Inflection, market capitalisation C$33.7 million, >4x Kincora’s ⁶) covering ~10,000km² within the NJNB with over A$14 million investment to date ⁷. In the last month AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection designating a total of four projects to continue earning into (including two projects adjacent to Kincora’s Nyngan project) ⁸ – see Figure 2.

The most recent notable example of a new globally significant emerging porphyry district is the Vicuña district, which is also an extension of a renowned world-class porphyry belt. Vicuña is an extension of the central Andean belts in Argentina on the border of Chile and situated at over 4000m altitude.

Within this district NGEx Resources Inc in 2009 held three early-stage exploration projects and at the time had a market capitalisation of approximately C$40 million ⁹. These same projects are all still at a pre-development phase but have yielded in four large-scale discoveries currently valued at over $10 billion ¹⁰.

Kincora was an early mover into the Northern Junee-Narromine Belt, securing a district scale portfolio of the interpreted most prospective and shallow to moderate covered part of the northwards extension of the Macquarie Arc under post mineral cover. This portfolio now covers a strike twice the length of the Vicuña district and included in earn-in and agreements with AngloGold Ashanti.

The NJNB is virgin exploration territory and offers new district-scale discovery potential with spatial and temporal settings, coupled with regional magnetics and gravity, supportive of large-scale intrusive complexes and targets analogous to porphyry deposits located in the southern and more mature sections of the Macquarie Arc.

Figure 2: First phase drilling activities at Kincora’s Nyngan project are ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projects
In the last month, AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection Resources (market capitalisation >C$33 million) designating a total of four projects to continue earning into (including two adjacent to Kincora’s Nyngan and Nyngan South licenses) and formed a second earn-in and joint venture agreement with Kincora

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About AngloGold

AngloGold Ashanti plc (NYSE: AU) (market capitalization ~US$21.6 billion) is the world’s fourth largest gold miner by production with projects and exploration activities across nine countries on four continents.

AngloGold pursues value-creating opportunities, where it can leverage their existing assets, shareholdings, skills and experience.

AngloGold has a track record of successful exploration with its greenfields and brownfields exploration programmes seeking to support sustainability and growth of its business. AngloGold’s greenfield exploration strategy aims to discover large, high-value Mineral Resources that will eventually lead to the development of new gold mines.

For more information please visit AngloGold’s website at www.anglogoldashanti.com.

About Kincora

Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries.

Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar superbasin NSW.

For more information please visit Kincora’s website at www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

References:

⁽¹⁾ Over $110 million of potential partner funding for eight earlier stage and/or non-core projects includes:

(a) In addition to the terms announced in this release, the original up to A$50m earn-in & JV agreement with AngloGold Ashanti for the Nyngan & Nevertire projects: refer May 28, 2024 release “AngloGold Ashanti to earn-in to the NJNB Project” (estimated budget to end of Dec 2024 >$1.5m, incl. 2707m drilling, Kincora currently the project manager receiving a 10% fee of expenditure). For more information on AngloGold Ashanti please visit their website at www.anglogoldashanti.com

(b) Fleet Space Technologies (which in December 2024 raised $150m in a Series D financing) partnership under R&D Grant for geophysical surveys at Nyngan: refer Jul 25, 2024 release “ANT and Gravity Geophysical Surveys at the Nyngan Project” (est. budget $500k). For more information on Fleet Space please visit their website at https://www.fleetspace.com

(c) Fleet Space partnership for the Wongarbon project: refer Oct 16, 2024 release “Kincora announces Strategic Investment & Expanded Partnership with Fleet Space” (Fleet Space is to conduct ANT & gravity surveys with the right to fund >2000m of drilling for an earn-in/JV. Est. budget for ANT & gravity surveys $600k, follow up drilling >$0.5m)

(d) Exploration Alliance partner Earth AI (which in January 2025 raised US$20m in a Series B financing) drilling commenced at the Cundumbul project: refer May 20, 2024 release “Artificial Intelligence Partner Drilling New Copper Targets at the Cundumbul Project” (Earth AI has the right to right to spend up to $4.5m at Cundumbul and earn an NSR upon a “qualifying interval”. Estimated budget to date >$750k, incl. 5 completed holes for >2500m with a VTEM geophysical survey recently completed and analysis ongoing).

(e) Woomera Mining (now Orbminco Ltd) agreement for Kincora’s Mongolian assets: refer Aug 12, 2024 release “Kincora secures funded, successful and motivated partner for Mongolian assets” & Orbminco release Jan 14, 2025 “Drilling Results for Bronze Fox Copper-Gold Project“, incl. drilling results & technical details/disclaimers (Orbminco has the right to spend US$4m for a 80% interest in the Mongolian subsidiaries with Kincora free carry also to FID or a cash payment + NSR acquisition right for 100% interest. Orbminco consideration shares to Kincora $450k. Estimated budget >C$960k to Dec 31, 2024 incl. 2516m of drilling (& ex-planned conversion of the western exploration to a mining license and 2025 field work/drilling).

⁽²⁾ Refer to Kincora’s exploration update press release Feb 13, 2025, “Encouraging results expands Kincora Copper and AngloGold Ashanti’s First Drilling Program”

⁽³⁾ Newcrest Mining annual reports (public access) for former license EL6337, available on DIGS via MinView (https://minview.geoscience.nsw.gov.au).

⁽⁴⁾ Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals with the addition of Newmont’s earn-in and joint venture agreements with Koonenberry Gold for the:

(a) Junee porphyry project ($23.9m of expenditure to date, ex the Jan 2025 drilling with Koonenberry Gold carried until commercial production); and,

(b) Fairholme porphyry project (Koonenberry carried until $15m of exploration expenditure, with $1.14m spent to date, ex the Jan 2025 drilling program).

⁽⁵⁾ MinEx Consulting report for Kincora.

⁽⁶⁾ Market capitalisation of Inflection Resources as at Apr 11, 2025 following Apr 1, 2025 issuance of shares to AngloGold Ashanti (https://inflectionresources.com/inflection-resources-completes-share-issuance-to-anglogold-ashanti/).

⁽⁷⁾ Includes AngloGold Ashanti funded exploration with Kincora and Inflection as at Dec 31, 2024, including Phase 1 and Phase 2 expenditures with Inflection (refer to the Mar 3, 2025 “MD&A” for the quarter ended Dec 2024).

⁽⁸⁾ Refer to Inflection Resources’ Mar 25, 2025 release “AngloGold Ashanti Designates Four Inflection Resources Projects for Phase II of Exploration Earn-in Agreement”.

⁽⁹⁾ NGEx Minerals valuation 2009 when it owned the projects included in ⁽³⁾. Refer to NGEx’s presentation July 2024 for further details.

⁽¹⁰⁾ “>$10 billion market value“: includes values for Filo Corp & Josemaria based on the Jul 29, 2024 transaction values from Lundin Mining & BHP (see public market releases, “Lundin Mining and BHP to Acquire Filo and Form a 50/50 Joint Venture to Progress the Filo del Sol and Josemaria Projects“) and Apr 11, 2025 market capitalisation of NGEx Minerals.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248376

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to provide an update on its ongoing and expanded exploration programs at the Nyngan project, located in the interpreted undercover extension of the Macquarie Arc in NSW, Australia, conducted under an earn-in and joint venture agreement with, and funded by, AngloGold Ashanti.

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:

“Initial drilling has provided encouraging results supporting our belief that the Nyngan project is a new porphyry district scale opportunity and, as agreed with our partner AngloGold Ashanti, this warrants an expansion to our first phase of exploration activities with renewed drilling and geophysics mobilised.

Scout drilling to date has provided very wide spatial coverage across separate potential intrusive complexes, with all holes interpreted to have intersected Macquarie Arc rocks ¹, and, encouraging chalcopyrite and anomalous copper in multiple holes.

In particular, the last hole of 2024, hole NYDD007 encountered porphyry style quartz veins, multiple intrusives, a locally developed exoskarn and significant sulphides strongly warranting step out drilling to either discover or provide a vectoring pattern to a possible deposit.

Further separate potential complexes within the South-West and Ace of Spades targets have been chosen for the continuation of the scout drilling. A detailed ground gravity survey covering ~400km² is in progress to help define more drilling targets including possible silicified basement hills under the cover rocks which may be due to high sulphidation gold mineralisation related to porphyry deposits.

The expanded scout drilling and ground gravity survey will assist with specific vectoring and a budgeted second phase follow-up and step out drilling program.

Preparations are also taking place for the first Kincora-AngloGold Ashanti drilling at the Nevertire project.”

Background

The interpreted undercover extensions of the renowned Macquarie Arc porphyry copper-gold geology are a globally significant exploration opportunity offering new district(s) scale discovery potential. The relatively mature and well-explored sections of the Macquarie Arc host:

• a mineral endowment of over 160 million gold equivalent ounces ²,
• multiple world-class mines, some of which have recently attracted over $16 billion of corporate activity ³, and,
• two projects with resource growth of over 10 million gold equivalent ounces (Boda-Kaiser and Cowal) ⁴.

The less explored extensions of the Arc have attracted five recent earn-in and joint venture agreements supporting potentially over $300 million in exploration and development expenditures ³.

Kincora was an early entrant into the geophysically interpreted undercover Northern Junee-Narromine Belt (NJNB) of the Macquarie Arc. The Company now holds a >100km north-south strike of contiguous licenses across a number of interpreted underexplored, some never drilled, probable intrusive complexes and volcanic edifice sections of the undercover extensions of this belt.

The Company’s Nyngan and Nevertire projects are two of a total of five Kincora projects in the NJNB, and are being advanced via an up to A$50 million earn-in and joint venture agreement with AngloGold Ashanti (the other three projects are held 100% and Kincora is proactively seeking asset level partners).

Initial drilling results at the Nyngan project have provided strong encouragement and support the view that the Nyngan project is highly prospective for large scale porphyry related copper-gold deposits and offers new district scale potential.

The exploration program by Kincora with AngloGold Ashanti has been expanded, including both a continuation of a scout drilling program and an expansion of ground gravity geophysical surveying.

During 4Q’2024, six holes for 2707m were completed utilising cost-effective mud-rotary drilling through the relatively soft post mineral cover sequence followed by diamond core drilling (NQ3) of porphyry-prospective basement. The holes have provided samples of basement geology across separate magnetic complexes and key lithological domains.

The first phase scout program has sought to gain wide spatial coverage across in two very broad areas, the South-West target and the Ace of Spades target, both defined by coincident aeromagnetic and gravity features with only one previous hole to basement at the South-West target and no prior basement intersections at the Ace of Spades (see Figure 2).

The holes (NYDD002 to NYDD007) encountered a variety of basement lithologies including andesite, volcaniclastic breccia, diorite, gabbro, dolerite, and granodiorite, sandstone and siltstone, which based on extensive geological experience in the district, are all interpreted to be Macquarie Arc basement rocks, but noting age dating and lithogeochemistry analysis are pending. Hole NYDD007 within the south-western stem of the Ace of Spades has identified a high priority follow-up target warranting step out drilling to either discover or create a vectoring pattern to a possible deposit. See Figure 3 for select photos of NYDD007 drill core.

Intervals hosting native copper, chalcopyrite, bornite, pyrite and molybdenite were noted in holes NYDD002, 003, 004, 006 and 007 (see Tables 1 and 2). The sulphides occur as disseminations, fracture-fill and within quartz±carbonate veins, and also in mineralized skarn in NYDD007. Long intervals of anomalous copper were returned in the assays for NYDD003, 004 and 007 (see Table 2). The volcanic, sedimentary and/or intrusive rocks had been overprinted by moderate to strong, patchy to pervasive magnetite+chlorite-, epidote+carbonate±albite-, sericite and garnet+epidote+chlorite+calcite bearing hydrothermal alteration assemblages in NYDD003, 004, 006 and 007.

Table 1: Nyngan project: Summary of 2024 mud rotary-diamond tail drill holes (metres)

Hole	Mud Rotary	Diamond Core	End of Hole	Interpreted Basement	Basement Interval	Highlights
NYDD002	212.9	240.7	453.6	440.8	12.8	Chalcopyrite, bornite
NYDD003	257.8	168.6	426.4	255	171.4	Chalcopyrite
NYDD004	235.3	265.6	500.9	318	182.9	Chalcopyrite, pyrite, native copper
NYDD005	335.5	35.7	371.2	333	38.2
NYDD006	302.7	135.5	438.2	302.7	135.5	Chalcopyrite
NYDD007	305.7	210.6	516.3	305.7	210.6	Pyrite, molybdenite, chalcopyrite native copper
Total	1649.9	1056.7	2706.6

Drilling paused for the summer holiday period with the scout drilling program recommenced to provide further wide spatial coverage of basement lithologies across separate potential intrusive complexes at both the South-West and Ace of Spades targets. Further drill hole permits have been submitted for up to a total of twenty holes (see Figure 2).

A ground gravity survey is progressing well, covering a total of ~400km² across the extensions of the South-West and Ace of Spade targets (see Figure 2), and expanding and providing infill coverage from the ground gravity survey completed in 2024. The infill program is expected to refine an existing interpreted high sulphidation gold target associated with a basement high, whilst the regional survey is expected to define additional targets.

Completion of the initial scout drilling program and the ground gravity survey are expected to refine areas of interest for a proposed and budgeted second phase follow-up drilling.

Figure 1: A new district-scale series of major and untested magmatic complex targets are situated with in the Nyngan project that potentially represent the largest volcano-intrusive complex of the Macquarie Arc

Kincora is managing the exploration program, currently receives a 10% management fee of expenditures with expanded initial scout drilling and ground gravity survey ongoing

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https://images.newsfilecorp.com/files/2305/240664_figure1.jpg

Figure 2: 6 wide spaced scout holes have been completed with drilling expanded with further approvals submitted for up to a total of 20-holes. A ground gravity survey has commenced across ~40km N-E strike covering the wider South-West and Ace of Spades targets.

To view an enhanced version of this graphic, please visit:
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Figure 3A: NYDD007: select photos of key lithological units of diamond drill core

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Figure 3B: NYDD007: select photos of key lithological units of diamond drill core

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Table 2: Nyngan project: Selected maximum assay values

Hole	Copper (ppm)		Gold (ppm)		As (ppm)		Mo (ppm)	S (%)		Ag (ppm)
NYDD002 1	424		0.011		6.0		1.56	0.03		0.29
NYDD003 2	378		0.016		29.4		1.23	0.19		0.24
NYDD004 3	680		0.038		15.8		1.60	0.85		0.28
NYDD005 4	159		0.014		16.8		1.48	1.08		0.66
NYDD006 5	245		0.016		27.1		1.27	0.02		0.32
NYDD007 6	472		0.215		11.1		211	3.49		0.59

¹ – A 12.8m interval of interpreted Ordovician age gabbro was returned in diamond core sampling of basement for NYDD002. The reported maximum assay values is over a 1.3m sample of the gabbro unit below a contact with an overlying conglomerate (from 440.7m), The intersected basement had a weak to moderate pervasive propylitic alteration assemblage comprising chlorite, magnetite and epidote, overprinted by weak patchy albite with hematite dusting. The last four metres of the hole had rare very fine grained bornite and chalcopyrite occurring together with chlorite and magnetite.

² – NYDD003 returned broad intervals of anomalous copper (up to 378ppm copper over 2m from 396m). The best intercepts were 6m @ 214ppm copper from 309m (within a fine to medium grained basaltic andesite with moderate pervasive chlorite, patchy epidote with 1-5% wispy calcite±epidote±quartz veins, rarely with fine grained pyrite and chalcopyrite) and 64m @ 264ppm copper from 362.4m (within very coarse grained plagioclase phyric diorite with weak to moderate pervasive chlorite+calcite+magnetite with patchy epidote and non-stratified pebbly-granular volcaniclastic sandstone or matrix-supported breccia with moderately shearing and foliation, moderate pervasive chlorite+calcite and very weak to weak patchy zones of very fine grained quartz, magnetite and pyrite) (calculated using 200ppm copper minimum and 4m internal dilution cutoffs).

³ – volcaniclastic rocks returned anomalous copper (up to 680ppm copper over 2m from 381m within a andesite brecca clast) over broad intervals in NYDD004. The best intercepts were from upper parts of the hole, where native copper occurred as fracture-fill and disseminations: 14m @ 427ppm copper from 339m and 8m @ 523ppm copper from 375m. Broad intervals of disseminated and vein-hosted chalcopyrite occurred in lower parts of the hole: 28m @ 255 ppm copper from 393m and 65m @ 249ppm copper from 428.5m (calculated using 200ppm copper minimum and 4m internal dilution cutoffs).

⁴ – Minor mineralization was noted in NYDD005 and related to disseminated very fine-grained magnetite and rare euhedral pyrite crystals with calcite strain fringes with only up to 159ppm copper over 2m from 341m.

⁵ – Trace chalcopyrite was rarely observed in hole NYDD006 in calcite+quartz±epidote veins with up to 245ppm copper over 2m from 316m.

⁶ – NYDD007 encountered a volcanic package of plagioclase phyric andesite, microdiorite, fine-grained volcaniclastic sandstone and minor andesite-clast breccia, intruded by an equigranular granodiorite and associated aplite, pegmatite and quartz-feldspar porphyry. The intrusions occurred as multi-metre bodies, smaller dykes, veins and stringers. Pyrite (locally up to 5%) and trace amounts of chalcopyrite, molybdenite and native copper (locally up to 0.3%) occurred in hole NYDD007. Quartz+pyrite±carbonate±epidote veins up to 5cm width occurred throughout the hole, within the granodiorite and volcanic-sedimentary host rocks, some containing chalcopyrite or molybdenite, many with bleached, sericite-rich selvedges. There were also pyrite±chalcopyrite veins and pyrite stringers. Late carbonate veins and breccia veins tended to be associated with fracture zones and were surrounded by broad sericite+carbonate±pyrite-altered zones. There were multiple hydrothermal and contact-metamorphic alteration assemblages observed throughout NYDD007. The maximum grade of 0.215 g/t gold is over 1m from 418m with a geological description provided in Figure 3 with an accompanying photo and description of that lithological unit..

Table 3: Nyngan project: Summary of mud rotary-diamond drill

Holes completed 4Q’2024

Target	Hole	End of Hole (m)	Dip (°)	Azimuth (true)	Easting (MGA)	Northing (MGA)	Elevation (m)	Diamond Core recovery (%)
South-West	NYDD002	453.6	-90	0	517309	6532972	149	99.9%
Ace of Spades	NYDD003	426.4	-90	0	533326	6554167	149	99.7%
Ace of Spades	NYDD004	500.9	-90	0	533918	6547408	149	97.5%
Ace of Spades	NYDD005	371.2	-75	247	529381	6557836	149	98.0%
Ace of Spades	NYDD006	438.2	-90	0	525242	6554783	149	99.7%
Ace of Spades	NYDD007	516.3	-90	0	525542	6545010	149	99.6%

About the Nyngan Project

The Nyngan license (Exploration Licence 8929) was the first ground Kincora secured in NSW. It is a large 762km² direct application tenement granted by the NSW State Government covering a significant portion of the interpreted under cover section of the northern Junee-Narromine Belt ⁷. The Junee-Narromine Belt is one of the two largest belts of the Macquarie Arc, Australia’s foremost porphyry belt, which hosts a mineral endowment of over 160 million gold equivalent ounces ².

The license hosts almost no prior explorer drilling even though regional geophysics strongly indicates a new potential district-scale setting for a significant number of interpreted, large-scale, porphyry copper-gold intrusive complex targets.

In May 2024, Kincora signed a definitive multiple-phase Earn-in and Joint Venture Agreement (Agreement) over the Nyngan and Nevertire licences with AngloGold Ashanti Australia Limited, a wholly owned subsidiary of AngloGold Ashanti plc (NYSE: AU; JSE: ANG), the world’s fourth largest gold miner by production which has a successful track record for greenfields discovery success.

AngloGold Ashanti has the right to spend up to A$50 million to earn an 80% interest through:

• A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
• Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn a 80% joint venture interest (Phase II).

In July 2024, separate to the Agreement with AngloGold Ashanti, Kincora formed a partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to undertake Ambient Noise Tomography (ANT) and gravity geophysical surveys under a research and development grant at the Nyngan project.

The Fleet Space surveys were completed in 2024 and focused on a small portion of the Ace of Spades target. The ongoing ground gravity survey covering ~400km² provides further coverage across the extensions of the South-West and Ace of Spade targets and infill spacing over areas of the 2024 ground gravity survey.

About Kincora

Kincora Copper Limited is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries.

The Company has recently shifted to an asset level funding strategy for its wholly owned porphyry projects, partnering to date for five of twelve projects, and retaining its Cobar superbasin project (Condobolin) as a 100% owned project.

Recent deals have unlock up to A$60 million in multiple year partner funding and supported countercyclical growth increasing the number of NSW based projects by a third.

Field activities resumed in 4Q’2024 and have began to ramp up with over 7000 metres of drilling and over A$3.5m of partner funded exploration.

Kincora is now focused on further and larger asset level deals for its more advanced and/or proximal to mine porphyry projects, and, advancing the next stage of exploration for already partnered projects.

For more information please visit Kincora’s website at www.kincoracopper.com

References:

¹ The interpretation of Macquarie Arc age basement rocks is based on extensive geological experience in the district with age dating, lithogeochemistry and other analytical analysis are pending seeking to confirm
² Sourced from MinEx Consulting for Kincora
³ Sourced Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals
⁴ These include:
(i) Cowal epithermal gold project by Evolution Mining: Current endowment of 13.7Mtoz gold, including historic production of 4.7Moz gold and current resource of 9Moz gold, relative to the resource of 3.4Moz gold at the time of the project acquisition in May 2015. Significant resource growth has come from the Dalwhinnie/ GRE46 underground discovery with production from the underground now ramping up with resource gold grades almost 3x higher than open pit (@ 2.45g/t Au) (refer to www.evolutionmining.com.au for further details, including the annual resource / reserve statements with technical disclaimers, the Mar 25, 2015 release “Transformative Acquisition of Cowal Gold mine” and the Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals); and,
(ii) (ii) the Boda-Kaiser porphyry project is owned Alkane Resources (refer to www.alkane.com.au for further details, including the annual resource / reserve statements with technical disclaimers).

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1722 Fax: 1.888.241.5996

Subsidiary office Australia Vista Australia Level 4, 100 Albert Road South Melbourne, Victoria 3205

Qualified Person
The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101

JORC Competent Person Statement
Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information	Kincora Copper Limited (Kincora) is the operator of the Nyngan Project (EL8929) undertaking exploration in partnership with AngloGold Ashanti under an earn-in and joint venture agreement.Drill hole planning, targeting, sampling and budgeting is discussed and agreed at quarterly technical committee workshops between Kincora and AngloGold Ashanti.Drilling ulitises mud-rotary to refusal followed by diamond coring methods by Ophir Drilling Pty Ltd from which sub-samples of core are taken over 2 m intervals and pulverised to produce suitable aliquots for fire assay and ICP-MS.Diamond drilling was used to obtain core samples from the ground, which was then structurally, geotechnically and geologically logged.Some sample intervals spanning lithological contacts or changes in alteration and mineralization were less than 2 m.Sampling was completed to industry standards with 1⁄4 core for PQ and HQ diameter diamond core and 1⁄2 core for NQ3 diameter diamond core sent to the lab for each sample interval.Samples were assayed via the following methods: – Gold: Au-Tl43 (Fire assay) -Multiple elements: ME-MS61 (4 acid digestion with ICP-MS analysis of 48 elements) – Assay results >10g/t gold and/or 1% copper are re-assayed – Hyperspectral: analysis of alteration minerals using Terraspec instrument and HYP-PKGAll of the diamond core from the 2024 drilling of six holes has been cut and submitted to Australian Laboratory Services Pty Ltd (ALS) in Orange, with assays returned for all holes.An initial batch of nine core samples for petrological descriptions and confirmation of the lithologies, alteration assemblages, textures and paragenesis has been submitted, with results pending at the time of writing.Four quarter core samples have been submitted for U-Pb age dating of the zircon, titanite or apatite grains, with results pending at the time of writing.A suite of coherent (volcanic and intrusive) rocks have been chosen for lithogeochemistry, with results pending at the time of writing.Select existing pulps will be re-run as Li borate fusion discs to obtain more accurate trace element concentrations.Historic sampling on other projects included soils, rock chips and drilling (aircore, reserve circulation and diamond core).
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	Drilling by Kincora at Nyngan has used cost effective mud-rotary in the cover sequence rocks and diamond core drilling in the basement rocks with NQ triple tube diameter diamond core tail.Historic drilling on other Kincora projects have used a variety of methods including aircore, reverse circulation and diamond core.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Drill core recovery was logged.Diamond drill core recoveries are contained in the body of the announcement – see Table 3.Core recoveries were recorded by measuring the total length of recovered core expressed as a proportion of the drilled run length.There is no relationship between core recoveries and grades.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.The total length and percentage of the relevant intersections logged.	All holes are geologically logged for their entire length including lithology, alteration, mineralization (sulphides and oxides), veining and structure.Logging is mostly qualitative in nature, with some visual estimation of mineral proportions that is semi-quantitative. Measurements are taken on structures where core is orientated.All core is photographed wet and dryHistoric drilling was logged with logging mostly recorded on paper in reports lodged with the NSW State.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.	Once all geological information was extracted from the drill core, the sample intervals were cut with an automatic core saw, bagged and delivered to the laboratory.This is an appropriate sampling technique for this style of mineralization and is the industry standard for sampling of diamond drill core.PQ and HQ sub-samples are quarter cored and NQ half cored.Sample sizes are considered appropriate the nature of lithology and mineralization being sampled.No duplicate samples were taken.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	Gold was determined by fire assay and a suite of other elements including Cu and Mo by 4-acid digest with ICP-MS finish at ALS laboratories in Orange.For all holes, every 20th sample was either a commercially supplied pulp standard or pulp blank Certified Reference Material. Results of the Certified Reference Materials provide confidence in the accuracy of the analyses returned from ALS.ALS provides its own quality controls including laboratory duplicates and blanks as part of its routine procedures and provides these results to Kincora.Historic assays on other projects were mostly gold by fire assay and other elements by ICP.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.	Significant intercepts were calculated by Kincora’s geological staff.No twinned holes have been completed.The intercepts have not been verified by independent personnel.Logging data is captured digitally on electronic logging tablets and sampling data is captured on paper logs and transcribed to an electronic format into a relational master online database maintained by Kincora. Transcribed data is verified by the logging geologist.Assay data is received from the laboratory in electronic format and uploaded to the master database. Digital copies of Certificates of Analysis are stored in the master online database.No adjustments to assay data have been made.Outstanding assays are outlined in the body of the announcement.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.	Collar positions are set up using a hand-held GPS to less than 5 m horizontal and vertical accuracy.Drillholes are surveyed downhole every 30 m using an electronic gyro instrument and when drillholes terminated a single shot is taken.For NYDD002 and NYDD003, a single shot gyro survey was taken every 12m while pulling out of the hole.Grid system used is the Map Grid of Australia Zone 55, GDA 94 datum.Topography in the area of Nyngan is near-flat and drill collar elevations provide adequate control
Data spacing and distribution	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.	Kincora drilling at Nyngan is at an early stage, undertaking a wide spaced initial scout drilling programme seeking to determine depth to basement and provide maiden samples of basement geology across separate magnetic complexes and key lithological domains to provide wide spatial coverage within the South West and Ace of Spades targets.Data spacing at this stage is insufficient to establish the continuity required for a Mineral Resource estimate.No sample compositing was applied to Kincora drilling.Historic drilling on Nyngan and other projects was completed at various drill hole spacings and no other projects have spacing sufficient to establish a mineral resource.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	The drill holes are either vertical for depth penetration or steeply angled toward geophysical targets.At this stage of drilling the orientation the orientation of any mineralized structures or mineralized intercepts has not yet been determined.
Sample security	The measures taken to ensure sample security.	Kincora staff or their contractors oversaw all stages of drill core sampling. Bagged samples were placed inside polyweave sacks that were zip-tied, stored in a locked container and then transported to the laboratory by Kincora field personnel.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Mining Associates has completed an review of sampling techniques and procedures undertaken by Kincora at the Trundle Project dated January 31st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus Kincora has continued to follow similar sampling techniques, systems and controls.Regular site visits are undertaken by Kincora’s asset level partner, AngloGold Ashanti, with quarterly technical committee workshops reviewing all aspects of the programme.

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	On May 28, 2024, Kincora announced a multi-phase Earn-In and Joint Venture Arrangement with a wholly owned subsidiary of AngloGold Ashanti Plc for the Northern Junee-Narromine Belt (NJNB) Project, including EL8929.EL8929 (the Nyngan Project) is wholly owned by Kincora.On March 18, 2024, a three-year extension was granted to Kincora for EL8929 until January 2027.The licence is in good standing and there are no known impediments to obtaining a licence to operate.16 Assessable Prospecting Operation (APO) approvals for drilling are in place, enabling 16 drill holes with 6 holes having already been completed. Currently two amendments to APO’s and four new APOs pending.Land access agreements are in place to execute the proposed ongoing scout drilling programme and expanded ground gravity survey.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	All Kincora projects have had previous exploration work undertaken, albeit relatively limited prior drilling at the Nyngan Project. The review and verification process for the information disclosed herein and of other parties for the Nyngan Project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures. Further details of exploration efforts and data of other parties are providing in the March 1st, 2021, Independent Technical Report included in the ASX listing prospectus, which is available at:https://www.kincoracopper.com/investors/asx-prospectus
Geology	Deposit type, geological setting and style of mineralisation.	The Nyngan Project is interpreted to be located in the undercover northern extension of the Junee-Narromine Belt of the Macquarie Arc, part of the Lachlan Orogen.Targeted rocks comprise successions of volcano-sedimentary rocks of Ordovician age intruded by suites of subduction arc-related intermediate to felsic intrusions of late Ordovician to early Silurian age.Kincora is exploring for porphyry-style copper and gold mineralization, copper-gold skarn plus related high sulphidation and epithermal gold systems.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Detailed information on Kincora’s drilling at Nyngan is given in the body of the report.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.	Kincora drilling at Nyngan the following methods were used:Porphyry gold-copper intercepts were aggregated using a cut-off grade of 200ppm copper.Internal dilution below cut off included was generally less than 25% of the total reported intersection length.Core loss was included as dilution at zero values.Average gold and copper grades calculated as averages weighted to sample lengths.Historic drilling results in other project areas are reported at different cut-off grades depending on the nature of mineralisation.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Due to the uncertainty of mineralization orientation, the true width of mineralization is not known at Nyngan.Intercepts from historic drilling reported at other projects are also of unknown true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Relevant diagrams and tables are included in the body of the report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Intercepts reported for Kincora’s drilling at Nyngan are zones of higher grade within unmineralized or weakly anomalous material.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other exploration data is considered material to the reporting of results at Nyngan. Other data of interest to further exploration targeting is included in the body of the report.Historic exploration data coverage and results are included in the body of the report for Kincora’s other projects.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Areas within the South-West and Ace of Spades targets at the Nyngan Project have been chosen for a continuation of the scout drilling during 2025, seeking to provide further wide special coverage of interpreted intrusive complexes. New APOs and amendments to existing approvals are pending – see Figures 2 & 3.An expanded ground gravity survey across both targets is proposed with land access agreements in place – see Figures 2 & 3.Coupled with more detailed geoscientific studies, including petrology, lithogeochemistry and geochronology, the continuation of the scout drilling programme and expanded ground gravity survey will assist with specific vectoring and a proposed second phase follow-up diamond drilling programmes during 2025.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240664

Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to confirm the closing of its previously announced private placement of 33,500,659 shares, raising gross proceeds of AUD$1,273,025 (CAD$1,206,024). The placement was conducted in two tranches:

Closing of Private Placement

1. First Tranche
   Closed on October 22, 2024, with the issuance of 12,576,031 shares for total gross proceeds of AUD$477,889 (CAD$452,737).
2. Second Tranche
   Closed on December 18, 2024, with the issuance of 20,924,627 shares for total gross proceeds of AUD$795,136 (CAD$753,287).

Insiders/Directors participated in the second tranche as follows:

• Cameron McRae: 568,421 shares
• John Holliday: 568,421 shares
• Jeremy Robinson: 248,211 shares
• Big Ben Holdings Pty Limited: 5,751,974 shares

The shares were issued at a price of 3.8 Australian cents (approximately 3.6 cents) per share, with one attaching option for every two shares issued. Each option has an exercise price of 7.5 Australian cents (approximately seven cents) and a two-year term. The issue price represents a 12-per-cent discount to the last closing price on October 10, 2024, and a 16-per-cent discount to the 15-day volume-weighted average price on the Australian Securities Exchange. Morgans Corporate Ltd has acted as Lead Manager. Associated with the raising a 3.9% (AUD49,478) cash fee was paid on funds raised.

A portion of the private placement and the shares for services are related party transactions within the meaning of Multilateral Instrument 61-101. The Company is relying on the exemptions in sections 5.5(a) and 5.7(1)(a)of Multilateral Instrument 61-101 (the “Instrument”) from the valuation and shareholder approval requirements of the Instrument in respect of the private placement and the shares for services, based on the fact that the fair market value of the transactions (as it concerns related parties) is not more than 25% of the market capitalization of the Company.

Performance Rights Exercise

Following approves at the December 10, 2024, shareholders meeting and the Company announces the exercise of 3,877,370 performance rights by certain directors, officers, and consultants. These performance rights were granted on February 17, 2022, and have now vested. The shares have been issued at a price of $0.13 per share, with the following breakdown:

• Cameron McRae: 1,692,308 shares
• Jonathan (Sam) Spring: 1,884,754 shares
• John Holliday: 223,385 shares
• Sam McRae: 76,923 shares

The Equity Incentive Plan (“EIP”) is approved annually by shareholders and a key element of the Company’s total compensation package to the board, senior management and eligible consultants that seeks to align interests to shareholders, reduce cash costs and increase the amount of cash invested in exploration.

Shares for Services

Following approves at the December 10, 2024, shareholders meeting, the Board of Directors has approved the issuance of 7,169,335 common shares to certain officers, directors, and consultants as payment for services provided in 2022, 2023, and the first half of 2024. These shares have been issued at various prices based on the respective periods of service, as detailed below:

Total Shares Issued: 7,169,335

Average Issue Price: $0.054 per share

The issuance of shares under this program has been conducted in compliance with regulatory approvals from the TSX Venture Exchange (TSXV) and the Australian Securities Exchange (ASX).

Regulatory Approvals

The issuance of shares for services is subject to final regulatory approval. The shares will be issued as fully paid and non-assessable common shares, and applications for listing on the ASX and TSXV will be made promptly.

Post the aforementioned issuances, the Company has 291,720,904 shares and 69,050,325 options outstanding.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763).

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61 431 329 345

Executive office 

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205
Fax: 1.888.241.5996

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234997

Kincora Copper Limited (TSXV: KCC) (the “Company”, “Kincora”) is pleased to announce the results of voting at its Annual General and Special Meeting (“AGM” or the “Meeting”) on December 9^th, 2024 at 4pm PST held by hybrid meeting with webcast from Vancouver, Canada.

All matters submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular, dated November 8^th, 2024, were approved by the requisite majority of votes cast at the Meeting with 23.53% of shareholder proxies returned.

Details of the resolutions are provided below as well as an update that was presented to shareholders at the Meeting.

This announcement has been authorised for release by the Board of Kincora Copper Limited.

By order of the Board of Directors:
Cameron McRae, Chairman
enquiries@kincoracopper.com or +1 604 283 1722

Kincora Copper Limited (ARBN 645 457 763)

Executive office Canada	Subsidiary office Australia
400 – 837 West Hastings Street	Vista Australia
Vancouver, BC V6C 3N6, Canada	Level 4, 100 Albert Road
Tel: 1.604.283.1722	South Melbourne, Victoria 3205
Fax: 1.888.241.5996	Tel: +613 9692 7222

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

AGM details

Audited Annual Report
Shareholders received and considered the Financial Statements for the financial year ended December 31, 2023 and the report of the auditor thereon.

Number of Directors | 99.89% For
Shareholders approved retaining the number of directors at five (5).

Election of Directors 
Shareholders voted in favour of Kincora’s management’s nominees to the board of directors: Jonathan (Sam) Spring (99.87% For), John Holliday (99.87% For), Luke Murray (99.81% For), Cameron McRae (91.71% For) and Jeremy Robinson (99.85% For).

Auditor Appointed | 100.00% For
Manning Elliot LLP was appointed Auditor of the Company to hold office until the next AGM or until its successor is duly appointed, and the directors were authorized to fix the Auditor’s remuneration.

Approval of Issue of Tranche 2 Placement Shares | 98.83% For
Shareholders passed an ordinary resolution to ratify the issuance prior placement shares as described in the Information Circular.

Approval of Issuance Placement Option | 98.75% For
Shareholders passed an ordinary resolution to ratify the issuance of placement options relating to prior placement shares as described in the Information Circular.

Ratification of Prior Issuance of Placement Shares | 99.58% For
Shareholders passed an ordinary resolution to ratify the issuance prior placement shares as described in the Information Circular.

Share Capacity | 99.50% For
Shareholders passed a special resolution re-approving the capacity to issuance up to an additional 10% capital over a 12 month period pursuant to ASX Listing Rule 7.1A as described in the Information Circular.

Equity Incentive Plan (EIP) | 99.74% For
Shareholders passed an ordinary resolution re-approving of the existing EIP as amended as described in the Information Circular.

Shares for Services Agreement | 90.76% For
Shareholders passed an ordinary resolution re-approving of the existing shares for services agreements as described in the Information Circular.

Ratification of Prior Issuance of Options pursuit to EIP | 90.84% For
Shareholders passed an ordinary resolution to ratify the issuance prior options pursuit to the existing EIP as described in the Information Circular.

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