Trekor Announces 41 Million Pounds of Copper Production from Gibraltar and Florence Copper in the Third Quarter

Stuart McDonald, President and CEO of Trekor Metals Limited

“Solid progress on the Florence Copper ramp- up continued in the third quarter with no wellfield performance issues of any significance. Initial flow rates across the wellfield continue to exceed expectations, and work is ongoing to optimize the balance between wellfield flows and PLS grade. The SX/EW plant has been operating very well, producing high-quality copper cathode with no impurities, and operated for several days last week at design capacity without issue. The one area where progress remains behind our initial plan is the wellfield expansion. Drilling rates have improved in recent months, but we are still about three months behind our original plan. We are now expecting 25 to 28 million pounds of copper production in 2026. Wells recently brought online, together with those expected to come online shortly, are anticipated to support a significant increase in cathode production, completing the ramp-up to full production capacity in early 2027.”

Stuart McDonald, President and CEO of Trekor Metals Limited

“Our Gibraltar mine had another strong quarter of operating performance, as higher grade ore was mined from the bottom of the Connector Pit. The transition back into more complex ore began later in the third quarter which impacted recoveries as expected. In the fourth quarter we expect lower grades and recoveries as mining transitions back to the upper benches of the Connector Pit. Based on production through three quarters, we now expect Gibraltar to produce 115 to 120 million pounds of copper, an increase over our original guidance of 110 to 115 million pounds.”

Lee Zeldin, Administrator of the U.S. Environmental Protection Agency

“After almost two decades without a new copper source anywhere in the U.S., the Florence Copper Mine in Arizona is now open and will produce tens of millions of pounds of copper per year and create hundreds of good-paying jobs to the community. It was great to be there in person yesterday to celebrate the mine’s opening—a huge win for Arizona’s economy and its environment.”

Stuart McDonald, President and CEO of Trekor Metals Limited

“Bringing Florence Copper into production is a huge accomplishment for our team, and for all of our partners and supporters who made it possible. Florence Copper brings Trekor one step closer to its goal of becoming a leading North American copper producer.”