Kobrea Exploration Corp. has completed its latest scheduled option payment under an agreement dated August 14, 2024, maintaining its exclusive right to earn a 100% interest in the Western Malargüe Copper Projects located in the southwestern Mendoza Province of Argentina.

The completed payment delivered US$500,000 in cash and 300,000 common shares to the optionors. Under the terms of the option agreement, Kobrea can acquire up to a 100% interest across the seven distinct projects, which cover a total land package of 733 square kilometres, by making staged cash payments totaling US$6,760,000 and issuing 3,500,000 common shares over a five-year period. Any final acquisition remains subject to a 1.5% net smelter return royalty held in favour of the optionors. All common shares issued under the transaction are subject to a statutory four-month and one-day hold period following their issuance date in accordance with applicable securities laws.

This latest financial installment marks an increase from the previous anniversary payment completed on August 13, 2025, which comprised US$350,000 in cash and 105,000 common shares. The larger consideration reflects the advancing schedule of the five-year acquisition framework. Meanwhile, copper traded at $0.41 per pound, up 3.18% over the 30-day period ending August 13, 2026.

The property package is considered highly prospective for porphyry copper and porphyry copper-gold deposits, characterized by multi-kilometre hydrothermal alteration footprints, anomalous geochemistry, and Pliocene to Miocene aged intrusions. Building on surface work across the district, Kobrea completed a Phase 1 diamond drill program totaling 2,358 metres across six holes at the El Perdido prospect within the land package in May 2026.

To support exploration across the broader property, Kobrea entered into an alliance agreement with BHP Metals Exploration Pty Ltd. on August 5, 2026. That agreement established a framework for the companies to jointly advance exploration across the extensive Western Malargüe copper portfolio. Beyond its holdings in Argentina, Kobrea also maintains a 100% interest in the Upland Copper Project located in British Columbia, Canada.

Read the full announcement: Kobrea Completes Next Payment Under Property Option Agreement for Its Western Malargüe Copper Projects - Mendoza Province, Argentina