News Release

California-Engels Mining Company

March 9, 2026

California-Engels Mining Company Provides Update on Lease Discussions on Engels -Superior Mines 

Plumas County, California – March 9, 2026 — California-Engels Mining Company (“California-Engels” or the “Company”) announced today that it is currently engaged in discussions with US Copper Corp. (“US Copper”), together with its wholly owned subsidiary Rykala Gold LLC (“Rykala Gold”), regarding a potential extension and restatement of the existing lease pursuant to which US Copper and Rykala Gold lease certain property owned by California-Engels in the Engels Mine, Lights Creek Mining District, Plumas County, California, for drilling and exploration purposes. 

The Company currently anticipates continuing to negotiate with US Copper and Rykala Gold with the objective of reaching agreement on a new or amended lease prior to the expiration of the existing lease in April 2026. Any such lease would be subject to the negotiation of mutually acceptable terms and conditions, receipt of any required internal approvals, and the execution and delivery of definitive documentation. 

There can be no assurance that the discussions described above will result in a definitive agreement or that any lease extension will be completed on any particular terms or at all. This update is intended solely to reflect the parties’ current discussions and expectations and does not constitute a commitment, agreement, or obligation on the part of California-Engels to extend or enter into any lease. California-Engels reserves the right, in its sole discretion, to discontinue discussions or decline to enter into any agreement at any time. 

Norman A. Lamb 

President, California-Engels Mining Company