Edge Copper Announces Positive PEA Results for its Zonia Copper Project

VANCOUVER, BC, March 12, 2026 /CNW/ - Edge Copper Corporation (TSXV: EDCU) ("Edge Copper" or the "Company") is pleased to announce positive results from a NI 43-101 Preliminary Economic Assessment ("PEA") on its 100%-owned Zonia Copper Project ("Zonia" or the "Project"), located in Arizona.  

All dollar amounts referenced herein are U.S. dollars, and all references to tons are imperial, or short tons, unless otherwise noted.

Appendix A (CNW Group/Edge Copper Corporation)

Highlights

All $ in USD
Base-case Economics ($4.60/lb Cu)
After-tax NPV (8%)	US$M	$488
After-tax IRR	%	23.4 %
Total Free Cash Flow	US$M	$985
Spot-case Economics ($5.98/lb Cu)
After-tax NPV (8%)	US$M	$1,073
After-tax IRR	%	40.9 %
Total Free Cash Flow	US$M	$1,828
Total Copper Cathode Production	M lbs	784
Average Annual Copper Cathode Production	M lbs	76
Mine life	Yrs	10
C1 Cash Cost^(1)	US$/lb	$2.15
AISC^(1)	US$/lb	$2.38
AIC^(1)	US$/lb	$2.47
Total Initial Capital (incl. contingency)	US$M	$524

1	Non-IFRS Financial Measure. See Non-IFRS Financial Measures below.

"These results highlight a solid economic foundation and represent only an initial indication of Zonia's potential as they are based on historical data, such as recovery and drilling assumptions," commented Edge Copper's Chair and CEO, Gil Clausen.  "We see potential to improve recoveries through additional metallurgical test work, including finer crushing studies, which are planned for this year. Further, we also believe that expanding the resource will be a significant driver of value going forward. The objective of our current drill program is to: 1) add more resources and extend the mine-life, which has the potential to continue to improve the economics of the project, and 2) upgrade the resource classifications to support a pre-feasibility study in 2027. We see strong upside beyond the current known mineral resource, as well as at other high-priority exploration targets to the north, south and east. Our focus is to continue drilling to support Zonia as a scalable, long-life copper project. Zonia is well positioned to be of strategic relevance as a sizable source of U.S.-based copper supply."

Operations and Processing

The PEA envisions an open pit mining and heap leach solvent extraction (SX) electrowinning (EW) processing operation. Mining operations are based on large scale conventional drill, blast, load, and haul open pit mining methods.  A total of 354 million tons of material is expected to be mined, which consists of 218 million tons of resource and 136 million tons of waste, for an average strip ratio of 0.6 (waste to resource).  With an average mined copper grade of 0.25%, total contained copper mined is expected to be 1.1 billion pounds of copper.

The SX circuit consists of two extraction stages to recover the copper from the leach solution and a single strip stage to produce electrowinning (EW) feed.  The EW circuit is designed to produce London Metal Exchange (LME) grade A cathodes onsite with the commitment to contribute to refined copper supply in the U.S.A.  The leach-SX/EW circuit is designed as a closed-circuit, zero-discharge facility with all solutions being recirculated within the process.

Total resource processed is estimated to be 218 million tons, 93% being oxides, 7% transition, and small amounts of sulphides, with an average processing throughput rate of 60,630 tons per day (stpd). The LOM average head grades of 0.25% the average extraction rate of 72.8%, and assuming a 0.5% cathode premium, results in total expected copper cathode production of 355 million tons, or 784 million pounds, over ten full years of production. The Company believes that the potential exists to increase life of mine production further by improving recoveries by crushing finer and increasing resources through continued exploration. Additional metallurgical testwork and exploration is currently underway and is planned through 2026.

The Project is accessible by road, has sufficient water for operations and power is available at the mine site from a 33 kV upgradeable power line. 

A summary of mining, processing and production metrics is provided below. A more detailed life of mine production schedule is available in Appendix A and in the PEA filed on SEDAR+.

Parameter	Unit	Value
Total Resource Mined	Mton	218
Total Waste Mined	Mton	136
Total Material Mined	Mton	354
Strip Ratio	w:o	0.6
Average mined copper grade	%	0.25
Processing Rate	ton/d	60,630
Average copper head grade	%	0.25
Average copper recovery	%	72.8
Total Copper Cathode Produced	Mlbs	784
Average Annual Copper Produced	Mlbs	76
Mine Life	years	10

Note: Totals may not add due to rounding

Costs

Zonia's life of mine and unit average operating costs are provided below. Project operating costs include mine operating costs, processing costs and mine general and administrative (G&A) costs.

Unit Operating Costs	US$ per ton
Mining Cost per Ton Mined	$1.96
Mining Cost per Ton Processed	$3.18
Processing Cost per Ton Processed	$4.29
Site Administration Cost per Ton Processed	$0.16
Total Operating Cost per Ton Processed	$7.63

All-in sustaining costs include production costs plus sustaining capital and all capitalized leases.  All-in costs include production costs, sustaining capital, capitalized leases, deferred stripping and exploration expenses.

	US$ per lb
C1^(1)  (per lb)	$2.15
AISC^(1) ($ per lb)	$2.38
AIC^(1) ($ per lb)	$2.47

1	Non-IFRS financial measure. See "Non-IFRS financial measures".

The initial capital cost is estimated to be approximately $443.3 million, plus $81.2 million in contingency for a total of $524.5 million. A summary is provided below.

Initial Capital	US$M
Pre-stripping	21.2
Plant	311.3
Leach Pad	46.3
Mine Mobile Equipment*	13.2
Mine Operations Infrastructure	8.2
Admin	39.8
Other	3.2
Initial Capital	443.3
Contingency	81.2
Total Initial Capital	524.5

Note: Totals may not add due to rounding.

*	Initial Mine Mobile Equipment purchased under a lease financing arrangement with $14.4M of lease payments realized during the construction period and $95.8M of payments realized between Years 1-5 of the project. These costs are not considered initial or sustaining capital costs for the project.

Further, additional capital of $27.7 million in year 3 is estimated for the heap leach expansion. Sustaining capital over the life of mine is forecast to be $168.6 million, which is primarily comprised of $67.7 million for deferred stripping, and $68.6 million for additional mobile equipment (trucks and loaders). Sustaining capital also includes $9.1 million of contingency.  At the end of the LOM, reclamation and closure costs are forecast to be $10 million, and salvage values are forecast to be $71 million.

Economics

The base case economics in the Zonia PEA are calculated using a copper price of $4.60 per pound, with a premium of $0.04/lb for a domestic cathode product, resulting in $4.64/lb copper price.

The after-tax NPV for the Zonia Copper Project at an 8% discount is estimated to be $488 million, and the after-tax IRR is estimated to be 23.4%. Total free cash flow over the life of mine is forecast to be $1.0 billion. The payback period under this scenario is calculated at 4 years.

Assuming a spot copper price of $5.98 per pound, with the $0.04/lb premium, the after-tax NPV (8%) increases to $1.1 billion and after-tax IRR increases to 40.9%. Total life of mine free cash flow for the Project totals $1.8 billion. The payback period under this scenario is calculated at 2 years and 2 months.

A sensitivity analysis on varying copper prices was completed on the after-tax NPV.  The results are summarized below.

(All $ are USD)
Copper Price	After-tax NPV (8%)
-10 %	$284M
-5 %	$386M
Base Case ($4.60/lb)	$488M
+5 %	$587M
+10 %	$685M
Spot ($6.00/lb)	$1,073M

A cash flow summary is available in Appendix A and in the PEA filed on SEDAR+.

Mineral Resource

The effective date of the Mineral Resource for the Zonia Copper Project is as of January 30, 2026 ("2026 Zonia MRE") and does not include data from the current drill program underway.  The 2026 Zonia MRE updated various inputs such as the cut-off grade, resource classification criteria and metal prices. As a result, indicated tons increased 73% and the inferred tons increased by 37%, when compared to Zonia's previous 2024 Mineral Resource (per the "NI 43-101 Resource Estimate for the Zonia Project 2024 Update" Technical Report with an amended effective date of November 8, 2024".)

A summary of the 2026 Zonia MRE is provided below.

Classification	Tons  (Mtons)	Grade  (Cu %)	Contained Metal   (Cu Mlb)
Indicated	194	0.25	964
Inferred	86	0.20	341

Notes:  

• Mineral Resources are reported in situ, using the CIM (2014) Definition Standards, and have an effective date of January 30, 2026.  
• The QP for the estimate is Mr. David K. Thomas, P.Geo., of DKT Geosolutions Inc.  
• Mineral Resource estimates for Zonia were constrained within a pit shell with pit slope angles of up to 50°. 
• A long-term Cu price of US$5.00/lb copper, and an NSR cut-off value of US$5.00/ton. Other inputs include grade variable metallurgical recoveries for oxide, transition, and sulphide domains, respectively; base mining cost of US$1.95/ton; processing and general and administrative costs of US$5.00/ton; off-site costs of US$0.05/lb of Cu.  
• Estimates have been rounded. Totals may not sum or multiply accurately due to rounding. 

Exploration

The Company's inaugural 54,000-foot drill program commenced in January 2026 and is progressing well.  The primary focus of the drill program is conversion of resources to higher classification categories and expansion of the known resource, in addition to geotechnical and condemnation drilling. The Company intends to incorporate these results into an updated Mineral Resource estimate in the fourth quarter of 2026.  The Company's current and future drilling objectives are to expand the Mineral Resource and contribute to a larger-scale and longer-life operation at Zonia, which Edge Copper believes has the potential to add real value to an already robust project.   

This drilling and resource advancement program is being executed under an integrated, technology-driven workflow led by Resource Exploration Strategies (RXS), part of the GeologicAI Group. On behalf of Edge Copper, RXS is applying its High-Resolution Decision Engineering™ framework across the drilling, geological logging, and resource modelling process, deploying high-resolution core sensing systems, AI-powered geological analysis, and advanced uncertainty-quantified modelling. By using these technologies, the Company is enhancing data quality, strengthening geological interpretation, and optimizing drill targeting.

Next Steps

The Company intends to incorporate the drill results from the exploration program currently underway into an updated Mineral Resource estimate in the fourth quarter of 2026.  Concurrently the Company will continue to advance metallurgical testwork, engineering, geotechnical and hydrogeological testing, and environmental and baseline monitoring. The Company then plans on completing a prefeasibility study in 2027.

Technical Report

The complete Zonia Copper Project PEA will be filed next week on SEDAR+ at www.sedarplus.ca under the Company's profile, and available on the Company's website.

The PEA is preliminary in nature, it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the Preliminary Economic Assessment will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Qualified Persons

The following persons listed below are authors of the PEA and have reviewed and approved the scientific and technical information contained in this press release as it relates to their area of responsibility as laid out in the PEA. Each of the below listed persons are considered a "qualified person" as defined by NI 43-101 and are independent of the Company.

• Marc Schulte, P.Eng, Moose Mountain Technical Services.
• George Dermer, P.Eng, Moose Mountain Technical Services.
• David Thomas, P.Geo, DKT Geosolutions Inc.
• Todd Harvey, SME Registered Member 4144120, Principal Process Engineer, Global Resource Engineering.

The information contained in this news release has been reviewed and approved by Marc Schulte.

About Edge Copper Corporation

Edge Copper Corporation is a copper-focused exploration and development company advancing its 100%-owned Zonia Copper Project in Arizona.  Zonia is a past-producing heap leach operation on private land, located in Arizona's historic Walnut Grove mining district. With existing infrastructure and significant potential for resource expansion, Zonia is well-positioned to become a key U.S. copper development project.  For more information, please visit www.edgecopper.com.

The TSX Venture Exchange has in no way passed upon the merits of the PEA and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking information" within the meaning of applicable Canadian provincial and territorial securities legislation. Forward-looking information in this press release includes, but is not limited to, statements with respect to: the anticipated timing and release of the complete Zonia Copper Project PEA, the timing and occurrence of additional metallurgical test work, the potential driver of value deriving from expanding the resource, the anticipated timing and release of the prefeasibility study, exploration upside, permitting requirements and streamlining, recoverable mineral resources, mineralization of exploration targets, project costs and need of capital, financial projections of the Zonia Copper Project, potential increased mine life, the future price of copper and other commodities, the Company's future drilling objectives, the timeline for and development of the Zonia Copper Project and the timing of the anticipated update to the mineral resource estimate for the Zonia Copper Project, the scope, objectives and outcome of Edge Copper's diamond drill program, and other events or conditions that may occur in the future. Often, but not always, forward-looking information can be identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved and other similar expressions.

Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors which may cause Edge Copper's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. See the risks and uncertainties identified under the heading "Risk Factors" in the Company's annual information form for the year ended December 31, 2024 and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at www.sedarplus.ca. The forward-looking information in this press release is based on several assumptions, including: the accuracy of Edge Copper's assessment of the development of the Zonia Copper Project; stability or increase in medium- and long-term copper prices; stability of exchange rates; obtaining permitting; Edge Copper's management achieving its development goals at Zonia; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated, intended or implied.

Risks and uncertainties, many of which are difficult to predict and generally beyond Edge Copper's control, could cause actions, events or results to differ from those anticipated, estimated, intended or implied by forward-looking information. Readers are cautioned that the foregoing list is not exhaustive of all risks, uncertainties, assumptions and other factors. Edge Copper cannot assure readers that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Although Edge Copper has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is presented for the purposes of assisting readers' understanding of Edge Copper's financial and operating performance, as expected by management, and Edge Copper's plans and objectives, and such forward-looking information may not be appropriate for other purposes.

The forward-looking information contained in this press release represents Edge Copper's views and expectations as of the date of this press release. Edge Copper expects that subsequent events and developments may cause the Company's views to change. However, while Edge Copper may elect to update such forward-looking information at a future time, the Company has no current intention of doing so, except to the extent required by applicable law. All forward-looking statements and information herein are qualified by this cautionary statement.

Mineral Resource Estimates

Until mineral deposits are actually mined and processed, copper and other mineral resources (which include mineral reserves) must be considered as estimates only. Mineral resource estimates that are not classified as mineral reserves do not have demonstrated economic viability. The estimation of mineral resources (including mineral reserves) is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other known and unknown risks, uncertainties, contingencies and other factors described in the Cautionary Statements on Forward-Looking Statements. The quantity and grade of reported "inferred" mineral resource estimates are uncertain in nature and there has been insufficient exploration to define "inferred" mineral resource estimates as an "indicated" or "measured" mineral resource and it is uncertain if further exploration will result in upgrading "inferred" mineral resource estimates to an "indicated" or "measured" mineral resource category. Inferred mineral resource estimates may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. The accuracy of any mineral resource estimate (including mineral reserves) is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. It cannot be assumed that all or any part of a "inferred", "indicated" or "measured" mineral resource estimate will ever be upgraded to a higher category including a mineral reserve. The mineral resource estimates (including mineral reserves) declared by the Company were estimated, categorized and reported using standards and definitions in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards") in accordance with National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101"), which governs the public disclosure of scientific and technical information concerning mineral projects.

Non-IFRS Financial Measures

This press release contains certain non-IFRS financial measures, including C1 cash costs, AISC and AIC. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance or expected performance of the Company. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Non-IFRS financial measures used in this press release are defined below

C1 Cash Cost: C1 cash cost include cash costs related to mine operations, processing and general and administrative costs.

All-in Sustaining Costs ("AISC"): AISC includes C1 cash costs plus sustaining capital.

All-in Costs ("AIC"): AIC includes AISC plus deferred stripping and exploration.

APPENDIX A

SOURCE Edge Copper Corporation

Further Information: For further information regarding Edge Copper: Patricia Fong, Chief Financial Officer, Telephone: [phone], Email: [email protected]