Highlights
Drilling Results

Initial drilling at Minto East validates the previous resource model and better delineates a zone of high-grade mineralization within the zone:

• 3.37% Cu, 1.88 g/t Au, and 14.96 g/t Ag over 6.5 m, within a broader zone of 2.50% Cu, 1.16 g/t Au and 9.90 g/t Ag over 15.2 m from 101.3 m in drill hole 25SCM042.

Drilling at Minto North west continues to delineate high-grade mineralization, which remains open to the north and south:

• 3.52% Cu, 3.51 g/t Au and 17.04 g/t Ag over 16.7 m, within a broader zone of 2.09% Cu, 1.84 g/t Au and 9.48 g/t Ag over 32.9 m from 195.9 m in drill hole 25SCM043.

Drilling within and south of Ridgetop 2025 Mineral Resource Estimate (MRE) open pit resource indicates near-surface mineralization continues to the south and west beyond the limits of the previous resource estimation.

Drilling Program Update

• Four diamond drill rigs are active at the Minto mine site delivering a high daily production of up to 100 metres per rig per day.
• As of February 12, 39,315 metres of drilling in 144 drill holes have been completed, or 78% of the planned 50,000 metre Phase 1 drill program. The Phase 1 drill program is expected to be completed by mid-March.

Vancouver, British Columbia and Pelly Crossing, Yukon–(February 19, 2026) – Selkirk Copper Mines Inc. (TSXV:SCMI) (FSE: IO20) (OTCQB:SKRKF) (“Selkirk Copper” or the “Company“) is pleased to announce new assay results from the on going 50,000 m drill program at the Minto Mine in Yukon, Canada.

M. Colin Joudrie, President & CEO, commented: “These latest results, combined with results announced in December and January, continues to grow our confidence that the Minto property, including the Mine North west zone, the Minto East zone, and the Ridgetop zones, has sufficient good grade and continuity to support our target 12-15 year mine life and restart plan. After the holiday break, the exploration and development team successfully mobilized to site to restart the program and with four drill rigs turning we expect to see the conclusion of the first phase of drilling by mid-March. The Engineering Trade-Off Study and permit amendment planning activities are progressing well, informing our Preliminary Economic Assessment (PEA) targeted for completion mid-2026. We look forward to sharing additional drill results over the next two months as assay results are received.”

2026 Drill Program Update

Drilling re-commenced on January 22 and quickly ramped up to full production in late January. Resource expansion drilling continues to be the major focus of the Phase 1 drill program, which was started in August 2025. Table 1 summarizes the drilling that has been completed thus far by zone. The current 50,000 metre Phase 1 drilling program is on track to be completed by mid-March. Drilling in the coming weeks will continue to target the Minto East, Minto North, Minto Main Extension, and Ridgetop zones (Figure 1).

Table 1: Drilling by Zone

Figure 1: Plan view of the Minto Mine showing surface projections of mineralization zones (Ridgetop, Copper Keel, 118, Minto East and Minto North), relative to 2025 drill collars (yellow circles). Drill hole results released highlighted in orange circles.

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Drill Results

Minto East

Initial drilling at the Minto East zone validates the previous resource model and better delineates high-grade mineralization within a portion of the model that was previously based on wide spaced drilling. Reported here are three holes from Minto East drilled in October, two of which returned significant intercepts.

Within the Minto East zone, multiple stacked lenses with significant mineralization, starting as shallow as 78 metres below surface and extending to depths of 450 metres, have been intersected by previous drilling. These lenses are sub-parallel to each other, dipping gently to the north with periodic open folding, resulting in an undulating geometry. This geometry of stacked lenses and open folding at Minto East is similar to the Ridgetop zone, located 1.5 kilometres to the south. Minto East is bound to the north by the DEF fault, a relatively significant post-mineral fault that separates Minto Main and Minto East zones from the Minto North zone.

Drill hole 25SCM042 tested an area of inferred resources within the uppermost lenses at Minto East, infilling an approximate 90-metre gap between historical drill holes. Results confirm the continuity of high-grade mineralization through this gap. Mineralization in this lens is characterized by disseminated to folioform chalcopyrite and minor bornite returning 3.37% Cu, 1.88 g/t Au, and 14.96 g/t Ag over 6.5 m, within a broader zone of 2.50% Cu, 1.16 g/t Au and 9.90 g/t Ag over 15.2 m from 101.3 m equating to a copper equivalent of 3.45% (Figure 2).

As part of the 2026 drilling program, Selkirk Copper is also targeting expansions to the north of three known lenses in proximity to the DEF fault while exploring for additional lenses at depth. Drill holes 25SCM082 and 25SCM110 tested approximately 80 and 175 metres north of previously drilled mineralization and intersected visually observed mineralization consistent with the current geological model (Figure 2). Assay results are still pending. The deepest lens, targeted by 25SCM082, which carries an average grade of 2.10% copper (plus associated gold and silver credits), represents a particularly compelling opportunity to expand the size of this zone as it remains open in all directions and demonstrates strong vertical and lateral continuity.

Beyond resource validation and expansion, a key objective of the drill program is the systematic collection of oriented core structural measurements, which will be integrated into an improved geological model to better constrain fault offsets and lens geometry. Importantly, this structural data collection and drilling will investigate the DEF fault to better understand the direction of fault movement and the potential to discover offset portions of Minto Main and Minto East zones.

Figure 2: Plan view and cross Section of Minto East, showing Phase 1 drilling targeting northern and deep extensions of lenses 154, 156 and 203.

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Minto North

Drilling at the Minto North west zone continues to delineate the extents of high-grade mineralization within the most recently discovered lens that remains open the south and to the north. Reported here are three holes from Minto North west zone drilled in October, all of which returned significant mineralization.

Drill hole 25SCM043 intersected exceptional high-grade copper-gold-silver mineralization, including up to 16.2% Cu, 17.3 g/t Au, and 85.3 g/t Ag over 0.7 metre, within a broad 32.9-metre intercept averaging 3.54% CuEq or 2.09% Cu, 1.84 g/t Au and 9.48 g/t Ag. The high-grades within this hole are associated with net-textured to massive bornite-chalcopyrite mineralization (Figure 3). Similar mineralization intersected in holes 30-50 m away to the west and south indicates a locally continuous high-grade zone. Preliminary modelling of the Minto North west lens indicates high-grade mineralization is focused along a north-northwest trend within a gently north-dipping lens. Similar geometry of shallowly dipping lenses and high-grade trends are observed in other areas within Minto Mine, suggesting a consistent structural model that can be applied to guide drill targeting and support improved resource estimation.

Notably, the Minto North west zone continues to demonstrate high concentrations of gold and silver associated with copper mineralization. The gold and silver endowment represents significant value that Selkirk Copper is now positioned to fully benefit from as a result of the removal of a gold-silver stream that was in place prior to May 2023. The removal of the gold-silver stream incentivizes improved modelling of the precious metal contained within the Minto North west zone which is creating a more complete understanding of the copper-gold-silver mineralization and the architecture of the mineralized system overall.

Figure 3: Drill core photographs showing net-texture to massive bornite-chalcopyrite-magnetite mineralization. This mineral assemblage characterizes the highest-grade mineralization within the Minto North west zone

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Ridgetop

Drilling at the Ridgetop zone continues to expand the extents of near-surface mineralization to the south and southwest. The Phase 1 drill program at Ridgetop initially targeted under-drilled areas within the 2025 resource but evolved based upon positive results to focus on extending the shallow mineralization south of the current MRE open pit. Drilling in this area, which is still ongoing, includes 42 holes that have been completed to date. Reported here are five holes from Ridgetop drilled in October, all of which intersected mineralization significantly above the 2025 MRE open pit cutoff-grade of 0.30% CuEq.

Assay results from 25SCM045 are representative of the near-surface mineralization that continues to be intersected to the south of Ridgetop zone, with an intercept grading 0.83% CuEq at shallow depths 35m below surface. Assay results from 25SCM031 are representative of higher-grade mineralization that occurs at moderate depths, with an intercept of 9.6 m grading 1.82% CuEq.

Core logging at Ridgetop has identified intervals of primary sulphides (chalcopyrite and bornite), secondary sulphides (chalcocite) and copper oxides (malachite and azurite). Selkirk Copper has initiated a sequential leach analysis, mineralogical study, and metallurgical test program to better characterize mineral speciation and copper recovery to concentrate. This work will support ongoing and future metallurgical studies and help refine assumptions related to recovery characteristics in shallow and partially oxidized portions of the deposit area.

Figure 4: Plan view and Cross section view of the Ridgetop drilling

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The location, azimuth, dip and depth of hole of this new drilling is summarized in Table 2 and significant intervals are summarized in Table 3.

Table 2: Collar Locations and Header Information

Table 3: Significant Interval Table

QAQC Procedures and Data Validation

The Company is drilling NQ sized core. Following data collection, core is cut along the long axis, with half of the core going to the lab for chemical analysis and the remaining half kept in sequence as record. The half core samples are packaged with the corresponding sample tag id and sealed. All sampling is conducted by Selkirk Copper Mines Inc. and subject to Company standard internal quality control and quality assurance (QAQC) programs which include the insertion of certified reference material, coarse blank materials, and field duplicate analysis, on top of the standard laboratory QAQC procedures to monitor contamination during preparation and analytical accuracy and precision. QAQC insertion rates approximate 15% of all samples at set intervals. For the 2025 program all samples were sent to ALS Laboratory’s prep laboratory in Whitehorse, YK, then shipped to ALS Vancouver for gold fire assay and four-acid multi-element analysis. All samples are prepared by crushing rock to 70% passing 2mm screen, then splitting a 250g sub-sample using a riffle splitter before being pulverized 85% passing 75 microns. Gold is analyzed by 30 g Fire Assay (Au-AA23) with atomic absorption (AAS) analysis followed by gravimetric finish for overlimit results. Copper is analyzed by four-acid digest (ME-ICP61) with inductivity coupled plasma – atomic emission spectroscopy (ICP-AES) finish. If Cu overlimit results are triggered a second four-acid digest for high grade copper (Cu-OG62) is conducted. For any samples where oxide copper minerals are identified, a sulphuric acid leach (Cu-AA05) analysis with AAS finish is performed. ALS Vancouver holds an ISO/IEC 17025 standard accreditation.

QAQC results are reviewed open receipt of results. Overall QAQC results show strong analytical performance across Cu, Au, and Ag datasets. All control standards are within acceptable tolerance, with no significant outliers or systematic bias observed.

Primary intervals are reported as drill core length, with true widths estimated to be approximately 90% of core lengths, based on the sub-horizontal to shallow dipping nature of the modelled mineralized zones.

Mineral Resource Details

The following table (Table 4) summarizes the current Minto Mineral Resource:

Table 4: Global Mineral Resource Estimate for the Minto Project (Effective Date: April 7, 2025)

References

¹ See 2025-08-06 Technical Report “NI 43-101 2025 Mineral Resource Estimate Update for the Minto Property, Yukon, Canada” effective date 2025-04-07 filed by Venerable Ventures Ltd., available on SEDAR+ (sedarplus.ca).

Technical aspects of this news release have been reviewed, verified and approved by Stacie Jones-Clark, P.Geo., Vice President Exploration of Selkirk Copper Mines Inc., who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Selkirk First Nation

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

About Selkirk Copper

Selkirk Copper is a well-financed, newly formed company with a controlling interest held by the Selkirk First Nation through its wholly owned subsidiary, that, in partnership with the Selkirk First Nation, is completing a thorough exploration drilling campaign and a restart and redevelopment plan for the former Minto copper-gold-silver mine based on best-in-class environmentally sustainable mining, development and reclamation practice. Selkirk Copper controls 26,850 hectares of prospective mineral claims located in the Minto-Carmacks copper belt as well as significant open-pit and underground infrastructure, a 4,100 tonne per day processing plant, 400-person camp, water treatment facilities, numerous ancillary buildings, and mobile equipment centered on the former Minto copper-gold-silver mine. Selkirk Copper’s mineral tenure, operation infrastructure, access roads and powerline, is located on or adjacent to Lands of the Selkirk First Nation much of which is surrounded by prospective Selkirk First Nation Category A Lands.

Selkirk Copper Mines Inc. is listed on the TSX Venture Exchange under the symbol TSXV: SCMI, has a secondary listing on the Frankfurt Exchange under the symbol FSE: IO20, and its common shares trade under the symbol OTCQB: SKRKF on the OTCQB® Venture Market, a U.S. marketplace operated by OTC Markets Group Inc.

On behalf of the Board of Directors of Selkirk Copper Mines Inc.

M. Colin Joudrie
President and Chief Executive Officer

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words, or variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this news release include information relating to: the remainder of the Company’s drill program and integrating results into ongoing trade-off studies, the business plans and objectives of the Company. Such forward-looking information is based on the Company’s expectations, estimates and projections as at the date of this news release.

By their nature, forward-looking statement involve known and unknown risks, uncertainties and other factors, which may cause actual result, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern, risks associated with potential governmental and/or regulatory action with respect to the Company’s operations, the potential inability of the Company to implement its business plan going forward. Such statements and information reflect the current view of the Company and are based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to execute on its business plans. The Company has also assumed that no significant events will occur outside the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

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