Selkirk Copper Mines Announces New Mineralized Zone Discovery

Vancouver, BC — May 14, 2026 — Leads & Copy — Selkirk Copper Mines (TSXV: SCMI) (FSE: IO20) (OTCQB: SKRKF) announced the discovery of a new mineralized zone, the 117 Lens, beneath a previously mined open pit May 11, 2026.

In June 2025, the Selkirk First Nation (SFN) purchased the former Minto Mine out of bankruptcy. SFN then partnered with the Frank Giustra-backed Fiore Group to form Selkirk Copper Mines.

The company is derisking the Minto Mine through exploration, resource expansion, engineering, and mine planning, with the goal of establishing a 12-15-year mine life prior to production restart.

Initial results from the 117 Lens indicate broad zones of copper-gold-silver mineralization, including 1.27% Cu, 0.89 g/t Au, and 5.91 g/t Ag (1.98% CuEq) over 12.6 m, within a broader interval of 0.41% Cu, 0.38 g/t Au, and 3.92 g/t Ag (0.58% CuEq) over 86.8 meters, from 244.2 m in 26SCM126.

According to Forbes, copper is trading at an all-time high of US$6.44/lb and could go higher due to a supply squeeze and the Iran war, supercharged by stockpiling and mine closures.

With gold trading at about US$4,650 per ounce, the .89 g/t gold reported from the 117 Lens may positively impact Selkirk Copper’s future bottom line. Additional drilling is planned to develop a better understanding of this mineralized zone.

The green energy transformation and government debt create demand for both copper and gold, according to the press release.

Discovery Alert reports a 0.40 g/t gap between the average grade of currently producing gold mines and the global undeveloped deposit pipeline. The company says this is a consequential structural trend in the gold mining sector and a forward-looking cost signal.

In 2007, a gold and silver stream was sold to finance the construction of the Minto Mine, now controlled by Selkirk. The 2025 bankruptcy process extinguished that long-standing gold-and-silver stream, so the revenue from the sale of precious metals will now go directly to the operator.

Colin Joudrie, Selkirk President & CEO, confirmed that the company gained some advantages from the bankruptcy, removing the gold and silver stream that sat astride this asset all the way back to 2007.

Joudrie added that Minto is not a by-product copper, gold, silver mine, but rather a co-product mine. He stated that about 65% of the projected revenue is from copper, 35% from gold and silver. In this rising precious metal price environment, the removal of the stream is a game-changer for the asset.

Joudrie also discussed the 85 mineralized lenses at the Minto project in a May 12, 2026 Crux Investor interview.

Joudrie confirmed that grade is a very important fundamental element and doesn't solve all the world's problems, but it solves a lot of them. He added that the primary ore bodies that make up this deposit are unique and consist of a series of lenses that have been structurally disrupted.

The lenses consist of chalcopyrite and bornite, with almost no pyrite in this system. He stated that getting 10-15 meter intervals of 6-10% copper is not just rare, it's almost unique.

In the central zone, there are over 85 lenses that are being advanced right now, each one with the same basic description. The ore bodies themselves are quite straight forward, mineable, and the recoveries here are exceptionally high, 91% copper recovery over the life of mine.

Joudrie added that most major mining operations today are massive infrastructure undertakings, where you are building ports, roads, power lines and power plants, but Selkirk does not have to do that.

He stated that over $330 million has been spent on the above-ground infrastructure, a processing plant, and all the ancillary support buildings needed for a modern mine.

Drilling at Minto East continues to intersect multiple lenses of high-grade mineralization including 2.36% Cu, 0.85 g/t Au and 5.44 g/t Ag (3.04% CuEq) over 5.8 m, from 241.7 m, and a second mineralized intercept of 2.57% Cu, 0.66 g/t Au and 7.66 g/t Ag (3.13% CuEq) over 9.1 m, from 476 min 26SCM128.

Assay results have been released for approximately 78% of the Phase 1 drill program, with the remaining results expected to be released over the next month.

As of May 1, Selkirk Copper has begun its Phase 2 drill program, targeting up to an additional 50,000 metres to be completed during 2026.

With the updated Mineral Resource Estimate and Preliminary Economic Assessment on track for completion in mid-2026, the company is looking ahead towards additional requirements that will support a potential restart decision in mid-2027, according to Joudrie.

The Phase 2 drill program will continue to focus on resource expansion while also prioritizing important geoscience and technical data collection that will support the restart decision.

The company says that drilling continues to deliver positive results, including the discovery of new mineralized zones located near existing resource areas and adjacent to underground mine infrastructure and potential open pit locations.

Selkirk believes these results highlight that there is still significant discovery potential in the near-mine environment and support the view that their commitment to exploration drilling will continue to deliver meaningful positive results.

On April 30, 2026 Selkirk announced that it had closed the “bought deal” private placement, issuing 23,914,000 common shares at a price of C$1.15 per Common Share for aggregate gross proceeds of C$27,501,100; and 4,412,000 common shares of the Company that will qualify as “flow through shares” at a price of C$1.70 per Flow-Through Share for aggregate gross proceeds of C$7,500,400.

The net proceeds received from the sale of the Common Shares will be used to continue development and restart activities related to the Company’s Minto Project, as well as for working capital and general corporate purposes.

Technical aspects of this news release have also been reviewed, verified and approved by Leif Bailey, P.Geo., Director of Geoscience & Exploration of Selkirk Copper Mines Inc.

Bailey is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Source: Global Stocks News