Koryx Copper has agreed to lift its ownership interest in Koryx Copper Zambia Ltd from 51% to 80% through an amended option agreement, eliminating remaining earn-in expenditure commitments while launching maiden drilling across its Zambian projects.

The transaction requires Koryx to pay US$200,000 in cash and issue 80,000 common shares at a deemed price of C$3.50 each to World Class Mineral Ventures Limited. Closing is subject to TSX Venture Exchange acceptance and is expected by September 30, 2026. The amended agreement also grants Koryx a conditional right to acquire the remaining 20% interest for US$400,000 if World Class Mineral Ventures elects not to contribute to future project funding.

Koryx Copper Zambia holds two large-scale exploration licenses in the Zambian Copperbelt covering the Luanshya West and Mpongwe projects. Fieldwork has already commenced on both properties, building on earlier technical work that included drone magnetic surveys, pitting, and soil sampling at Luanshya West.

A maiden 2,500-metre diamond drill program at Luanshya West is scheduled to start during the week of September 21, 2026. The program will test up to four priority targets at vertical depths between 100 metres and 250 metres, with completion anticipated by the end of the year. Meanwhile, exploration at Mpongwe involves collecting approximately 3,000 soil samples by year-end to refine existing targets and evaluate new anomalies.

"While the Haib project in Namibia remains our primary focus, our Zambian exploration programs have made significant progress since Koryx’ management transition. Detailed magnetic surveying, soil sampling, and pitting at Luanshya West have helped identify and prioritise four targets which we will begin drilling this month, while regional sampling and our reassessment of exploration data at Mpongwe have confirmed new targets for infill sampling to be completed later this year."

"We continue to be encouraged by the exploration progress and resource potential in Zambia and have therefore decided to accelerate our ownership in Koryx Copper Zambia Ltd which holds both Luanshya West and Mpongwe. This gives us greater flexibility to assess our strategic options to monetize the Zambian Projects, while continuing to retain our operational and financial emphasis on the advancement of Haib."

— Heye Daun, President & CEO

While expanding its footprint in Zambia, Koryx maintains its primary operational focus on the Haib copper project in Namibia. The company plans to publish a pre-feasibility study for Haib before the end of 2026.

Read the full announcement: Koryx Copper Announces Maiden Drill Program on Zambia Projects and Agreement to Increase Ownership to 80%