New Risk • Feb 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$28.5m market cap, or US$20.9m). Announcement • Jan 21
Kobrea Exploration Corp. Commences Drilling At El Perdido - Western Malargue Mining District - Mendoza Province, Argentina Kobrea Exploration Corp. announced that the Phase 1 diamond drilling program is underway at the El Perdido porphyry system within the Company's Western Malargüe Copper Projects (the "Property"). Kobrea holds the right to earn a 100% interest in 7 projects totaling 733 km 2 in southwestern Mendoza Province, Argentina (see the Company's August 19, 2024 news release for details). El Perdido Phase 1 Drilling: The initial 3 diamond drill holes at the El Perdido porphyry copper-gold-molybdenum prospect have target depths of 500 metres each. The diamond drill rigs employed by the drilling contractor have the capability to drill to depths of over 1,000 metres, with both HQ and NQ sized drill core. The first drill hole, DD26ELP001, will collar into one of two phases of early quartz diorite porphyry with high density quartz stockwork veining, as evidence by geological studies in the field. The surficial rocks have been subjected to well developed mineral leaching. Drilling beneath the leached cap is necessary to ascertain the grade of copper mineralization. This hole is expected to proceed through one or two early-mineral quartz diorite porphyry phases for several hundred metres before encountering the vertically emplaced hydrothermal breccia that has been outlined at surface. The hydrothermal breccia is interpreted to have intruded into roughly the center of the hydrothermal system. DD26ELP001 is oriented due east at an inclination of -55° to a target depth of 500 metres. The second and third holes are expected to encounter the same geological units as the first hole with similar degrees of hydrothermal alteration and mineralization. The geological observations and analytical results from the first three holes will aid in planning subsequent drill holes allowing company geologists to vector towards higher temperature alteration and early porphyry phases that are typically host to higher proportions of quartz stockwork veining with associated copper ± gold ± molybdenum mineralization. Announcement • Jan 09
Kobrea Exploration Corp. Mobilizes Field Crews and Drill to El Perdido Kobrea Exploration Corp. announced that crews are on site and the drill has been mobilized in preparation for the phase 1 diamond drill program at the El Perdido porphyry system within the Company's Western Malargue Copper Projects (the "Property"). Kobrea holds the right to earn a 100% interest in 7 projects totaling 733 km2 in southwestern Mendoza Province, Argentina. The 6,878-hectare El Perdido Project is host to a porphyry Cu-Au-Mo system that has been defined at surface but has not seen any drilling to date. The porphyry target is characterized as a 2 x 2-kilometre hydrothermal alteration footprint exhibiting classic porphyry alteration assemblages, anomalous copper-gold-molybdenum rock geochemistry, mapped quartz diorite porphyritic intrusions, extensive hydrothermal breccias and potassic alteration in an area that is otherwise dominated by phyllic alteration. The first ever diamond drill program will test the center of the system at El Perdido where the highest density of quartz stockwork veining associated with a potassic alteration assemblage occurs and which has been intruded by a series of intermineral hydrothermal breccias. Announcement • Oct 04
Kobrea Exploration Corp. announced that it has received CAD 8.5 million in funding On October 3, 2025, Kobrea Exploration Corp closed the transaction. The agents received cash commission of CAD 180,090 in connection with the brokered tranche of the offering, as well as 360,180 non-transferable broker warrants. Each broker warrant entitles the holder thereof to purchase one common share at a price of CAD 0.75 per share for a period of 24 months following the closing of the offering. Announcement • Sep 17
Kobrea Exploration Corp. announced that it expects to receive CAD 5 million in funding Kobrea Exploration Corp announced a best efforts private placement to issue 10,000,000 units of the company at a price of CAD 0.5 per unit for aggregate gross proceeds of CAD 5,000,000 on September 17, 2025. Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company. Each Warrant will entitle the holder thereof to acquire one common share at a price per share of CAD 0.75 for a period of 24 months from the date of issuance, provided the Warrants may not be exercised for a period of 60 days from the date of issuance. The transaction is expected to close on or about September 30, 2025 and is subject to all necessary regulatory approvals and the approval of the Canadian Securities Exchange. Announcement • Jul 29
Kobrea Exploration Corp., Annual General Meeting, Sep 25, 2025 Kobrea Exploration Corp., Annual General Meeting, Sep 25, 2025. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (CA$13.1m market cap, or US$9.63m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Apr 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.4m (US$9.70m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (CA$13.4m market cap, or US$9.70m). Announcement • Apr 22
Kobrea Exploration Corp. Announces Property-Wide Airborne Magnetic and Radiometric Survey Commences At Western Malargue Copper Projects Kobrea Exploration Corp. announced that a property-wide heli-borne magnetic and radiometric survey has commenced at the Company's Western Malargue Copper Projects. Kobrea holds the right to earn a 100% interest in the Western Malargue Copper Projects, which consist of 7 projects totaling 733 km2 in southwestern Mendoza Province, Argentina. The results of this airborne geophysical survey will better define the extents of the porphyry systems at El Perdido and El Destino and will be integral to developing additional porphyry targets across this highly prospective, district-scale land package. To date historical exploration across the projects has focused on advancing hydrothermal alteration footprints that are readily visible in satellite imagery and on the ground. This first comprehensive geophysical survey of these projects will help to outline structures and alteration effects associated with porphyry systems not visibly apparent as colour anomalies or which are under colluvial cover. The property-wide, 2,245 line-kilometre magnetic-radiometric heli-borne geophysical survey will provide insight to the scale, geometry and intensity of known alteration systems on the property along with potentially outlining additional porphyry targets within the project boundaries. The survey will include coverage of the El Perdido and ElDestino porphyry copper-gold targets. The ground magnetometer survey completed by a previous operator at the El Perdido porphyry copper target covers the core of the system, while the airborne magnetometer data will present a more comprehensive picture of the geology and hydrothermal alteration beyond those limits defined historically. The radiometric data recorded will highlight the surficial distribution of potassic alteration and the extents of hydrothermally altered rock. At El Destino, a 1-kilometre by 3-kilometre hydrothermal alteration system is suspected to continue under younger Pleistocene-aged ignimbrites to the north and south of the outcropping alteration footprint. The airborne magnetometer will measure the rock properties beneath the younger cover rock to define the greater extent of the hydrothermal alteration footprint. The radiometric data collected will serve to outline additional areas exhibiting potassic alteration beyond those mapped to date. New Risk • Jan 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 88% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (88% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$21.6m market cap, or US$15.0m). New Risk • Jan 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (CA$14.4m market cap, or US$10.0m). Announcement • Jan 09
Kobrea Exploration Corp. Commences Exploration at Western Malargüe Copper Projects - Mendoza Province, Argentina Kobrea Exploration Corp. announced that field crews have been mobilized to commence the 2025 exploration program at multiple porphyry prospects on the Company's Western Malargüe Copper Projects. Kobrea holds the right to earn a 100% interest in the 7 projects comprising the Western Malargüe Copper Projects, totaling over 733 km2 in southwestern Mendoza Province, Argentina. Initial exploration activities comprising geological mapping, rock chip sampling and talus sampling will be followed up by geophysical survey in the coming months. In the case of the El Perdido prospect, the Company intends to follow-up initial exploration activities completed by previous operators with diamond drilling later in the season. The results of historical exploration completed on the El Perdido prospect have outlined a sizable porphyry copper-gold-molybdenum target that has not seen drill testing of any kind. The 6,878-hectare El Perdido prospect is host to a porphyry Cu-Au-Mo system that has been defined at surface but has not seen any drilling to date. The porphyry target is characterized as a 2 x 3-kilometre hydrothermal alteration footprint exhibiting classic porphyry alteration assemblages with localized potassic alteration coming to surface (Figure 1). A 900 x 500-metre area of quartz stockwork veining coincides with anomalous copper-gold-molybdenum rock geochemistry, mapped quartz diorite porphyritic intrusions, localized biotite breccias and potassic alteration in an area that is otherwise dominated by phyllic alteration. Interpretation of ground magnetometer data collected in 2013 outlines a subsurface magnetic anomaly measuring roughly 1,000 metres across and extending 1,000 metres to depth that is surrounded by a decreased magnetic signature, representing an attractive geophysical target in the context of porphyry Cu-Au-Mo exploration. The Western Malargüe Mining District (WMMD) is a tool developed by the government of Mendoza through Impulsa Mendoza SA to respond to the challenge that the energy transition represents for the world. Detailed environmental impact studies over the entire WMMD area were completed as well as studies of geological and infrastructure potential to shorten the times required for the exploration of mining projects. On November 12, 2024, environmental impact statements for 34 projects were ratified in the provincial legislature, allowing for the exploration and development of 34 mining projects in the department of Malargüe, and as part of this approval, two of Kobrea's projects, El Perdido and Elena, have been approved for mineral exploration activities, including drilling. The approval of the first 34 projects came after an extensive process of public hearings, citizen participation and technical analysis. Over the course of the next few months, more projects, including the remaining projects held by Kobrea in the WMMD, will undergo the same approval process. Kobrea also announced that it has extended the term of its marketing agreement with MIC Market Information & Content Publishing GmbH ("MIC"). Under the terms of the extension, MIC will continue to provide marketing services to the Company for an additional 12-month period, and the Company will pay an additional EUR 200,000 to MIC. Announcement • Dec 24
Kobrea Exploration Corp. announced that it has received CAD 5 million in funding On December 23, 2024, Kobrea Exploration Corp. closed the transaction. The company issued 11,627,907 units at a price of CAD 0.43 per Unit, for gross proceeds of up to CAD 5,000,000.01. In connection with the Private Placement, the Company paid aggregate finders fees of CAD 27,735 and issued 64,500 non-transferable share purchase warrants. Announcement • Dec 13
Kobrea Exploration Corp. announced that it expects to receive CAD 5.04257 million in funding Kobrea Exploration Corp announced a non-brokered private placement to issue 11,726,907 units at a price of CAD 0.43 per Unit, for gross proceeds of up to CAD 5,042,570.01 on December 12, 2024. Each Unit will be composed of one common share and one Common Share purchase warrant, with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of CAD 0.55 for 24 months from the date of closing. Completion of the Private Placement is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. Securities issued through the Private Placement will be subject to customary restrictions on resale for four months and a day from the date of closing. New Risk • Aug 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (CA$11.8m market cap, or US$8.59m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Announcement • May 16
Kobrea Exploration Corp., Annual General Meeting, Jul 11, 2024 Kobrea Exploration Corp., Annual General Meeting, Jul 11, 2024. Announcement • Apr 06
Kobrea Exploration Corp. announced that it has received CAD 1.221 million in funding On April 5, 2024, Kobrea Exploration Corp closed the transaction. the Company issued 3,784,000 hard dollar units at a price of CAD 0.25 per unit, for gross proceeds of up to CAD 946,000 and 833,333 flow through Shares at CAD 0.33 per flow through share, for gross proceeds of CAD 275,000. The company paid finder's fees of CAD 48,485 and issued 176,570 finder's warrants to arm's length finders in connection with the Private Placement. Board Change • Mar 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Rory Ritchie was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 13
Kobrea Exploration Corp. Appoints Pierre Clement as Director Kobrea Exploration Corp. announced the appointment of Pierre Clement as a director of the Company. Mr. Clement replaces Ramninder Lidder on the board of directors, who has resigned. Pierre Clement brings over 10 years of experience in the resource sector where his expertise spans various facets of corporate development and capital markets initiatives. He has played a pivotal role in assisting numerous companies in navigating the landscape of corporate growth and capit al market strategies. Mr. Clement has built a strong network within the North American investment community. Announcement • Mar 11
Kobrea Exploration Corp. announced that it expects to receive CAD 1.5 million in funding Kobrea Exploration Corp. announced a non-brokered private placement of up to 4,000,000 hard dollar units at a price of CAD 0.25 per unit, for gross proceeds of up to CAD 1,000,000, and up to 1,515,151 FT Shares at CAD 0.33 per FT Share, for gross proceeds of up to CAD 500,000 on March 11, 2024. The company may increase the size of the private placement and issue up to 6,000,000 hard dollar units, for gross proceeds of up to CAD 1,500,000, and up to 3,303,303 flow through shares, for gross proceeds of up to CAD 1,000,000. Completion of the private placement is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. 
