Kingfisher Completes 2026 Drill Program at HWY 37 Project with 13,551 m Drilled, Golden Triangle

2026-10-21

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Final Hank Porphyry Holes Intersect Broad Zones of Porphyry Veins and Stockwork; Assays Pending

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2026) - Kingfisher Metals Corp. (TSXV: KFR) (FSE: 9700) (OTCQX: KGFMF) ("Kingfisher" or the "Company") announces the completion of the 2026 diamond drill program at its HWY 37 Project, located in the Golden Triangle of British Columbia. A total of 13,551 m was drilled in 24 new holes, together with the extension of hole HW-25-011, using up to four diamond drills within the Hank-Mary District. Drilling began in June and the final hole was completed on October 15, 2026. The program tested the Hank porphyry copper-gold (Cu-Au) target, the Upper Hank gold system and several early-stage targets (Figure 1). A regional surface exploration program across the HWY 37 and Forrest Kerr Projects was completed (Figure 2). All nine holes drilled at the Hank porphyry target intersected the porphyry system or its alteration halo, and the system remains open at depth and along strike.

This release provides final depths and visual observations(1)for all holes completed after the Company's September 21, 2026 news release(2), including three deep holes at the Hank porphyry target, and summarizes the work completed during the 2026 season. Apart from the partial HW-26-015 result previously reported(2), assay results are pending for all 2026 drill holes.

Highlights from this release include:

Drill program complete:13,551 m in 24 new holes plus the extension of HW-25-011

Hank Porphyry:approximately 8,070 m drilled in nine holes, with every hole intersecting the porphyry system or its alteration halo; the system remains open at depth, along strike and laterally from HW-26-028 and HW-26-031

HW-26-028 (942 m):a stockwork body of porphyry-style quartz-chalcopyrite-pyrite veins from 634 m to 846 m (212 m), followed by quartz-chalcopyrite-pyrite veins to the end of hole(3)(1)

HW-26-031 (1,106 m): porphyry-style quartz-chalcopyrite-pyrite veins from approximately 778 m to the end of hole, a downhole length of approximately 328 m, with trace bornite observed in veins(3)(1)

HW-26-023 (1,061 m):potassic and chlorite-magnetite porphyry alteration from approximately 765 m to the end of hole, with disseminated chalcopyrite and trace bornite(1)

Upper Hank gold system:six holes at Flats, Felsite Hill and Pits intersected widespread quartz-sericite-pyrite (QSP) and argillic alteration with pyrite, and epithermal colloform-banded veins at Pits (HW-26-033)(1)

Regional program:magnetotelluric (MT) survey over Hank, ground induced polarization (IP) at Hank and Williams and the RDN (Forrest Kerr) targets, airborne mobile magnetotelluric (MMT) at Forrest Kerr, vector IP at Mess Creek, and shortwave infrared (SWIR) scanning of historical core from Mary, Mapping at RDN (Forrest Kerr), the Hank-Mary Trend, Rainbow, Northmore and Mess Creek with 148 rock samples collected, 2,337 soil samples, 268 km² of light detection and ranging (LiDAR) over Forrest Kerr and parts of HWY 37

2027 program: planning under way for an approximately 20,000 m drill program for the 2027 exploration season

Kingfisher purchased the property containing the Willow Creek Camp to support future exploration programs

Dustin Perry, CEO and President of the Company, states: "With the 2026 exploration program complete, we are increasingly confident in the discovery potential of our large Golden Triangle land package. We believe the Hank area represents one of the most prospective, underexplored, and fully preserved mineral systems in British Columbia. Further afield, systematic exploration continues to outline the potential for other such targets across the 1,165 km² land package.

This year we set out to test multiple geological hypotheses at Hank from the shallow epithermal environment down to the porphyry environment at depth. Drilling across a broad area has outlined a large, long-lived mineral system and improved our understanding of this highly prospective area.

One of our key goals in 2026 was to determine the geometry of the Hank Cu-Au porphyry and to find a significant porphyry stockwork body. Like the 2025 program, the final holes of the 2026 program have yielded an exploration success with the intersection of a stockwork body over 212 m in hole HW-26-028, based on visual observations(1)(3).

While our geochronology dates record an age of porphyry mineralization across the Hank-Mary District coeval with the supergiant Mitchell Deposit (Seabridge Gold), based on visual observations, the style of veining and mineralization more closely resembles that of the Red Chris Mine, where porphyry stockwork intensity is reported to correlate with gold and copper grades(4). While assays are pending, we are now much more confident in the potential of the Hank porphyry and are planning a fully funded 20,000 m drill program for 2027 with preparations under way."

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Figure 1: Plan view of 2026 drilling at the HWY 37 Project, showing 2026 drill holes by target area and historical drill holes coloured by gold equivalent (AuEq) grade(5)

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11630/320078_3e8d93ee64c7daed_001full.jpg

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Figure 2:Plan map of the HWY 37 and Forrest Kerr Projects showing 2026 drilling and regional exploration work completed

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11630/320078_3e8d93ee64c7daed_002full.jpg

2026 Drill Program Summary

Drilling commenced in June 2026 and was completed on October 15, 2026, with a fourth diamond drill added in September. In total, approximately 13,551 m was drilled in 24 new holes (HW-26-012 to HW-26-035), plus a 24.5 m extension of hole HW-25-011 and one hole (HW-26-A) that was lost at 26 m (Figure 1, Table 1, Table 3). Drilling was split between three target groups within the Hank-Mary District:

Table 1: Summary of 2026 drilling by target group

Update on Remaining Holes

The following holes were in progress at the time of the Company's September 21, 2026 news release(2)or were collared after that date. All descriptions are based on visual observation of drill core(1)and assays are pending.

Hank Porphyry Target

Drilling at Hank in 2026 was designed to define the geometry of the Cu-Au porphyry system intersected in HW-25-011 and to vector toward a stockwork body. The final three holes at Hank were designed to test the porphyry system west and north of HW-26-019. All three intersected porphyry-style alteration and mineralization at depth.

HW-26-023 (1,061 m):Drilled from the HW-25-011 pad to test west of HW-26-019. QSP-altered volcanic and volcaniclastic rocks with local quartz-carbonate veins carrying chalcopyrite, sphalerite and galena occur to approximately 723 m. Below this, alteration transitions to chlorite-sericite and then to chlorite-magnetite with patchy K-feldspar from approximately 765 m, cut by quartz-molybdenite-chalcopyrite veins. From approximately 946 m to the end of the hole, strong chlorite-epidote-biotite-magnetite alteration with local K-feldspar hosts quartz-anhydrite stockwork veins with pyrite and chalcopyrite, and a zone of disseminated chalcopyrite with trace bornite(1). The hole ended in a coarse-grained intrusive phase with trace pyrite, chalcopyrite and molybdenite.

HW-26-028 (942 m):The upper part of the hole intersected volcaniclastic breccias with sericite-clay alteration and local carbonate veins with sphalerite and galena, followed by QSP alteration to approximately 634 m. A stockwork body was intersected with an initial vein volume abundance of ~10% from 634 to 666 m. Below 666 m, stockwork vein abundance increases markedly to an estimated 30-85% by volume. The stockwork body is host to chalcopyrite, pyrite, trace molybdenite and biotite-chlorite-magnetite-K-feldspar alteration. This interval reflects the highest vein abundance and highest visual estimates of chalcopyrite observed during the 2026 season or in any historical drilling at the HWY 37 Project(1). Below the stockwork body, from approximately 846 m to the end of the hole, a biotite-magnetite-K-feldspar-actinolite altered intrusion hosts disseminated and vein-hosted chalcopyrite and pyrite that continue to the bottom of the hole. Mineralization remains open laterally and at depth from this hole.

HW-26-031 (1,106 m):QSP to chlorite-sericite altered volcaniclastic rocks with pyrite and local polymetallic veins occur to approximately 761 m, where the hole intersected a breccia zone containing clasts of quartz-sulphide vein material. From approximately 778 m, the hole entered porphyry-style quartz-chalcopyrite-pyrite stockwork with K-feldspar envelopes, magnetite-biotite and albite alteration, and trace bornite observed in veins from 778 to 838 m(1). Below approximately 860 m, albite-magnetite and chlorite-epidote alteration with K-feldspar around veins continues to the end of the hole, with vein-hosted and disseminated pyrite-chalcopyrite and local molybdenite-bearing quartz veins. Mineralization is open along strike, laterally and at depth from this hole.

Upper Hank Gold Targets

Drilling at Upper Hank was designed to test the extent of the shallow epithermal gold system above the Hank porphyry, to vector toward higher-grade feeder structures, and to test beneath areas of historical, depth-limited drilling. Six holes tested the Upper Hank gold system at Flats, Felsite Hill and Pits, where earlier drilling returned 110 m of 0.47 g/t Au in HW-25-006(6). All six intersected hydrothermal alteration with pyrite.

HW-26-025 (Flats, 419 m):Brecciated andesite and volcaniclastic rocks with pervasive QSP and grey argillic alteration and disseminated pyrite, transitioning downhole to green phyllic (chlorite-carbonate-sericite) alteration and hematite-sericite altered volcaniclastic breccias, with rare sphalerite in veins below 350 m. The hole tested an area of historical, depth-limited drilling where DDH87-8(7)returned 123 m of 0.34 g/t Au(8).

HW-26-029 (Felsite Hill, 232 m):Porphyritic andesite with strong QSP and clay alteration, 1% to 10% sooty pyrite with disseminated sphalerite and trace molybdenite to 165 m(1).

HW-26-030 (Felsite Hill, 320 m):Volcanic and volcaniclastic rocks with vuggy silica, grey argillic alteration and dickite veins, with silicification and pyrite increasing downhole, transitioning into magnetite-rich basalt.

HW-26-032 (Pits, 151 m):Grey clay alteration with disseminated pyrite and carbonate and quartz-carbonate-barite veins in the upper part of the hole, followed by chlorite-altered volcaniclastic rocks with chalcedonic quartz veins and increased pyrite near the end of the hole.

HW-26-033 (Pits, 239 m):QSP to chlorite-sericite altered volcaniclastic breccia with carbonate-quartz-barite veins carrying sphalerite, galena and chalcopyrite to 68 m, including colloform-banded vein textures characteristic of epithermal systems(1). Below, a hornblende-phyric porphyry with chlorite-hematite-magnetite alteration hosts local quartz-carbonate-barite-sphalerite-galena-pyrite veins.

HW-26-035 (Pits, 232 m):Volcaniclastic andesite and a plagioclase-hornblende-pyroxene phyric porphyritic unit with chlorite-sericite to hematite alteration and disseminated pyrite.

Early-Stage Targets

Early-stage targets lie outside the main Hank porphyry and Upper Hank gold target areas and represent the first drilling in previously undrilled parts of the Hank-Mary District. These holes were designed to evaluate the scale of the broader Hank-Mary mineral system and included the first drill tests at Rojo Grande.

HW-26-026 (West Bald Bluff, 157 m):Tested gold-silver bearing structures north of Rojo Chico and northwest of Rojo Grande. The hole drilled through an altered basal Hazelton sandstone and conglomerate to approximately 100 m with 1-3% pyrite. Below this, volcanic rocks host an estimated 8% disseminated and vein-hosted pyrite, including local silica-cement breccia with hydrothermal pyrite clasts to the end of hole(1).

HW-26-027 (Rojo Grande, 136 m) and HW-26-034 (Rojo Grande, 245 m):The first drill test of a large target interpreted as a possible southern continuation of the Upper Hank gold system, collared more than 1,200 m from the nearest drill hole. Both holes were terminated before reaching their planned target depths due to drilling conditions and weather, respectively. HW-26-027 intersected clay-altered volcaniclastic breccia with dickite replacement of phenocrysts, QSP alteration increasing downhole and fine disseminated pyrite. HW-26-034, drilled from the same pad, intersected layered volcanic tuffs, sandstone, conglomerate and coherent andesite volcanic sequences. These units are overprinted by trace disseminated pyrite and chlorite-hematite-quartz alteration and silica-cement breccia(1). The units intersected are interpreted to be too high in the stratigraphy (Hazelton Group), and the favourable host levels were not reached.

Summary of Previously Reported 2026 Holes

Holes completed before September 17, 2026 were described in the Company's September 21, 2026 news release(2)and are summarized in Table 2. Visual observations(1)only; assays are pending except for the HW-26-015 interval reported in that release.

Table 2: Summary of 2026 holes previously reported(2)

| Hole | Target | Depth (m) | Summary of Visual Observations(1) | | HW-25-011 | Hank Porphyry (ext.) | 983.4 | Re-entry confirmed porphyry Cu-Au mineralization from 959 m to EOH | | HW-26-012 | Hank Porphyry | 884 | Zn-Pb structural zone 57 to 219 m; Qz-chl-py stockwork 554 to 648 m; porphyry-flanking alteration to EOH | | HW-26-013 | Pits Extension | 406 | Steep east-trending structural zone from near surface to EOH | | HW-26-014 | Cash | 652 | Multiple new diorite to syenite porphyry stocks from 9.3 m to EOH; porphyry-flanking alteration facies | | HW-26-015 | Hank Porphyry | 1,067 | Polymetallic vein with visible gold (8.8 m of 38.50 g/t AuEq (20.33 g/t Au, 2.98% Cu, 937.6 g/t Ag, 11.08% Zn)(2)(3)(5)); porphyry veins with chalcopyrite 660 m to EOH | | HW-26-016 | Hank Porphyry | 1,021 | 268 m of porphyry mineralization from 514 to 782 m, with chalcopyrite | | HW-26-017 | Hank Porphyry | 883 | Porphyry margin from 683 m to EOH; extends alteration footprint south | | HW-26-018 | Flats | 508 | QSP-phyllic alteration 49 m to EOH; py ± gn ± sp veins, local hydrothermal breccia | | HW-26-019 | Hank Porphyry | 1,085 | Cu-bearing porphyry 643 m to EOH; trace bornite | | HW-26-020 | Pits Extension | 504 | Hematite and green-phyllic alteration 33 m to EOH; disseminated pyrite | | HW-26-021 | LAZ Porphyry | 665 | QSP with 8 to 12% py and polymetallic veins to 380 m; inner propylitic chl-mag-bt-ep below 400 m | | HW-26-022 | Turquoise | 411 | Argillic to advanced argillic and phyllic alteration; py ± mag stockwork 139 to 257 m | | HW-26-024 | Rojo Chico | 175 | QSP-phyllic alteration, silicification and breccia 17 m to EOH | | Note: EOH = end of hole; Qz = quartz; chl = chlorite; py = pyrite; gn = galena; sp = sphalerite; mag = magnetite; bt = biotite; ep = epidote; Zn = zinc; Pb = lead. | | | |

Table 3: Location of 2026 drill holes (NAD 83, UTM Zone 9)

| Hole ID | Easting (mE) | Northing (mN) | Azimuth (°) | Dip (°) | Final Depth (m) | Target Area | | HW-25-011 | 408790 | 6342028 | 111 | -64 | 983.4 | Hank Porphyry (Extension) | | HW-26-012 | 409125 | 6342136 | 145 | -68 | 884 | Hank Porphyry | | HW-26-013 | 410523 | 6341955 | 328 | -81 | 406 | Pits Extension - Upper Hank Gold | | HW-26-A | 410384 | 6341755 | 140 | -75 | 26 | Upper Hank Gold | | HW-26-014 | 410735 | 6342736 | 185 | -65 | 652 | Cash - Early-Stage | | HW-26-015 | 409062 | 6341823 | 99 | -83 | 1,067 | Hank Porphyry | | HW-26-016 | 408791 | 6342030 | 117 | -56 | 1,021 | Hank Porphyry | | HW-26-017 | 408914 | 6341721 | 100 | -76 | 883 | Hank Porphyry | | HW-26-018 | 408663 | 6340805 | 300 | -85 | 508 | Flats - Upper Hank Gold | | HW-26-019 | 408791 | 6342030 | 110 | -72 | 1,085 | Hank Porphyry | | HW-26-020 | 410342 | 6342315 | 115 | -60 | 504 | Pits Extension - Upper Hank Gold | | HW-26-021 | 409371 | 6342334 | 335 | -72 | 665 | LAZ Porphyry - Early-Stage | | HW-26-022 | 412156 | 6340509 | 310 | -63 | 411 | Turquoise - Early-Stage | | HW-26-023 | 408791 | 6342030 | 110 | -78 | 1,061 | Hank Porphyry | | HW-26-024 | 409590 | 6340634 | 289 | -70 | 175 | Rojo Chico - Early-Stage | | HW-26-025 | 408908 | 6341144 | 306 | -80 | 419 | Flats - Upper Hank Gold | | HW-26-026 | 409626 | 6340993 | 160 | -55 | 157 | West Bald Bluff - Early-Stage | | HW-26-027 | 410347 | 6340507 | 240 | -56 | 136 | Rojo Grande - Early-Stage | | HW-26-028 | 408791 | 6342118 | 110 | -70 | 942 | Hank Porphyry | | HW-26-029 | 410194 | 6341712 | 159 | -55 | 232 | Felsite Hill - Upper Hank Gold | | HW-26-030 | 410454 | 6341801 | 155 | -62 | 320 | Felsite Hill - Upper Hank Gold | | HW-26-031 | 408772 | 6342210 | 105 | -64 | 1,106 | Hank Porphyry | | HW-26-032 | 409953 | 6342034 | 311 | -67 | 151 | Pits - Upper Hank Gold | | HW-26-033 | 409953 | 6342034 | 311 | -85 | 239 | Pits - Upper Hank Gold | | HW-26-034 | 410347 | 6340507 | 240 | -68 | 245 | Rojo Grande - Early-Stage | | HW-26-035 | 409754 | 6342094 | 160 | -65 | 232 | Pits - Upper Hank Gold | | Note: HW-25-011 depth is the final hole depth after the 2026 re-entry. | | | | | | |

2026 Regional Exploration and Other Work

In addition to drilling, the 2026 program included the following work across the HWY 37 and Forrest Kerr Projects, as summarized in Table 4 (Figure 2):

Table 4: Summary of 2026 regional exploration and other work

Assay Status and Next Steps

All 2026 drill core has been logged, sampled and submitted for analysis. Gold analyses for samples from the gold targets are being completed by PhotonAssay at Paragon Geochemical in Surrey, British Columbia, and all other geochemical analyses are being completed by Bureau Veritas in Vancouver, British Columbia. Results will be released once received and validated. The MT, IP, MMT, LiDAR, soil and SWIR datasets are being compiled and integrated with drill results to build a 3D model of the Hank porphyry system and rank targets for the 2027 program. Planning for the 2027 program is under way, and the Company has begun securing drilling, helicopter and camp support contractors for the 2027 field season.

Earlier from Kingfisher Metals Corp.

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