Large Step-Out Hole Shows Strike Continuity of High-Grade Copper

Cobre Limited (ASX: CBE, Cobre or Company) is pleased to announce early results from the Cosmos Target drill programme (see ASX announcement 23 October 2025) on its wholly owned Ngami Copper Project (NCP), Botswana.

HIGHLIGHTS:

• Visual mineralisation estimates, substantiated by pXRF analysis, have defined a promising intersection of vein, cleavage and fracture hosted chalcocite mineralisation in drill hole NCP68 located 400m along strike from NCP55 which includes 10.0m @ 1.32% Cu & 27.7g/t Ag (see ASX announcement 3 February 2025¹);
• Results provide encouragement for a laterally extensive (>400m) higher-grade copper silver zone at Cosmos; and
• Based on these encouraging preliminary results, two further infill diamond drill holes, located on either side of NCP55, have been added to the drill programme.

The expanded drill programme will corroborate the continuity of higher-grade copper and silver mineralisation at the Cosmos Target. The higher grades at Cosmos may provide opportunity for both In-Situ Copper Recovery (ISCR) and conventional underground mining.

Commenting on the early results from the Cosmos Target Drill Programme, Adam Wooldridge, Cobre’s Chief Executive Officer, said:

“This is a great start to the Cosmos drill programme with early results confirming the higher background copper grades at this extensive target. The next two drill holes will provide important indicators of grade continuity and variability which will guide our follow-up programme.”

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