Colquemayo Project

King Copper's principal project: a road-accessible copper-silver-(gold) exploration project at 4,300-4,800 metres elevation in the General Sanchez Cerro province of the Moquegua department, southern Peru. It sits in a late Miocene-Pliocene epithermal belt east of the productive Paleocene-Eocene Cu-Mo porphyry belt that hosts Cerro Verde, Cuajone, Quellaveco and Toquepala. The Company entered an option agreement on June 28, 2024 to acquire a 100% interest. Previous work by Rio Tinto and Buenaventura (2003-2014) includes approximately 25,000 m of diamond drilling across 75 holes, geological mapping, ~9,800 rock-chip and ~1,500 channel samples, and geophysical surveys; alteration mapping shows zonation typical of a high-sulphidation epithermal system. A Declaration of Environmental Impact (DIA) prepared by INSIDEO supports a planned program of 40 drill pads and 59 holes totalling approximately 36,500 m. The project has no current mineral resource estimate.