Kodiak Copper Updates on Progress of Previously Announced Transaction to Create New US-Focused Copper Exploration Company

June 22, 2026 – Vancouver, British Columbia – Kodiak Copper Corp. (the “Company” or “Kodiak”) (TSXV: KDK, OTCQX: KDKCF, Frankfurt: 5DD1) is pleased to provide an update on the proposed transaction announced on April 29, 2026 (the “Transaction”, see news release here) with Teck Resources Limited (collectively with its subsidiary Teck American Incorporated, “Teck”) and Kay Copper Corp. (“Kay Copper”, formerly Railtown II Capital Corporation), currently an unlisted reporting issuer.

Under the Transaction Kodiak would vend its 100% owned Mohave project (“Mohave”) and Teck would vend its 100% owned Copper Hill project (“Copper Hill”), both located in Arizona, into a subsidiary of Kay Copper to create a new US-focused copper exploration company that would apply to list its shares on the TSX Venture Exchange (“TSXV”). The Transaction is subject to ongoing negotiations, the execution of definitive agreements, due diligence, consents and regulatory approval, approval of the TSXV and the completion of the NewCo Concurrent Financing (as defined below). There is no guarantee that the Transaction will be completed.