Canadian Copper Provides Chester Regional Prospecting Update

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Canadian Copper Provides Chester Regional Prospecting Update

Toronto, November 14^th, 2022 – Canadian Copper Inc. (“Canadian Copper” or the “Company”) (CSE:CCI) is pleased to provide an update on its property-wide 2022 trenching program at the Chester Project (“Chester”) located in the well-known Bathurst Mining Camp (“BMC”) in Northern New Brunswick. Provincial funding for the Chester Project was also applied for and successfully approved under the New Brunswick Junior Mining Assistance Program (“NBJMAP”) totaling $20,000 which will be allocated to this current 2022 exploration program.

“The NBJMAP financial assistance program is just another excellent example of New Brunswick’s continued support for the exploration sector. The Chester Project has underexplored geophysical and geochemical anomalies located to the northwest and northeast of our property package. These areas are situated within the favourable stratigraphic Clearwater horizon and are greater than 5 kms away from the known Chester Deposit. Our systematic exploration strategy of trenching and rock sampling first will help cost effectively define the 2023 exploration plans for the Project.” — Simon Quick, CEO of Canadian Copper.

Trenching Program Specifics:

Our exploration team and equipment mobilized in early October, 2022 and commenced active trenching on Priority A areas.
Priority A targets include a total of 10 trenches over 3,500 meters. To date, 5 trenches for ~2,500 meters has been completed. Several sites show significant mineralization in Po-Py-Cpy at surface within the Clearwater stratigraphic horizon, the same host horizon as the Chester Deposit.
Priority A targets are focused on the northwest areas (Figure A), and Priority B targets will be explored pending the onset of winter or in the spring of 2023.
Targets were developed using a combination of geochemical (soils), geophysical surveys (VTEM), and following the favourable Clearwater horizon.

Drone videos of our trenching and prospecting activities:

Figure A: Active Trenching Program at Chester

Figure A Description Support: This is a total magnetic map over local topography and geology. Warmer red colours indicate magnetic rocks, whereas cooler blue colours represent rocks which are not. Areas within the hotter magnetic colours, that occur within the Clearwater Horizon remain target prospecting areas.

New Chester Project Mineral Resource Estimate (“MRE”)

This MRE for Chester is based on data with a cut-off date of August 31, 2022. The MRE is reported with an effective date of October 27, 2022.

Table 1: Open Pit Mineral Resource Estimate at a cut-off of 0.5% copper*

*All notes to MRE can be found: https://canadiancopper.com/canadian-copper-significantly-grows-mineral-resources-at-chester-project/

About the Chester Copper Project

The Chester copper deposit (“Chester”) is a volcanogenic massive sulphide (“VMS”) resource containing three zones; the Central Zone (massive sulphide), the East Zone (massive sulphide), and the West Zone (Copper Stringer), which are all located near surface. Previous mining development in 1974 included a 470-meter decline targeting the West Zone and produced 30,000 tonnes of bulk samples grading +2.0% Cu (Geoscience Canada, McCutcheon, 2020). No other development has occurred on the property.

About the Bathurst Mining Camp

The Company is focused on the prolific Bathurst Mining Camp of New Brunswick, Canada. This region is a world class mining district with thirteen former mining operations and hosts more than forty-five known volcanogenic massive sulphide (“VMS”) deposits. Our flagship Chester Project is 75 km south of the renowned Brunswick #12 mine that operated for 5 decades. New Brunswick has the modern infrastructure needed for mineral exploration and mine development coupled with a clear and well-established regulatory environment.

Qualified Persons

Dominique Gagné, PGeo, is a qualified person as defined by Canadian National Instrument 43-101 standards who is working for Geominex Inc., an independent contractor of the Company. Mr. Gagne has reviewed and approved the geological information reported in this news release.

About Canadian Copper Inc.

Canadian Copper is a Canadian-based mineral exploration company with a copper and base metals portfolio of historical resources and grassroots projects. The Company is focused on the prolific Bathurst Mining Camp (BMC) of New Brunswick, Canada.

For more information, please contact:

Simon Quick, Director and CEO | (905) 220-6661 | simon@canadiancopper.com | ir@canadiancopper.com

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary and Forward-Looking Statements

This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the acquisition of the Caribou Complex, completion of a PEA, a Combined Operation strategy, Funding Strategy and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company’s option to acquire properties under the Puma Option Agreement, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the CSE), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk and Uncertainties” in the Company’s annual management discussion and analysis for the year ended October 31, 2023 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.

Cautionary Note Regarding Mineral Resource Estimates and Historical Estimates

Until mineral deposits are actually mined and processed, Mineral Resources must be considered as estimates only. Mineral Resource Estimates that are not Mineral Reserves have not demonstrated economic viability. Canadian Copper is not treating the “historical resources estimate” as a “current resources estimate” or “mineral reserves”, as it has not taken steps to identify what work needs to be done to verify, upgrade or re-classify the “historical resources estimate” using a qualified person.

November 14, 2022
7:00 am

Simon Quick

Simon's experience includes early stage permitting, project development through to design engineering, construction, and final turnover. He joins Canadian Copper from McEwen Mining Inc. where he was Vice President of Projects. He has an honours degree in Economics from Bishop’s University and an Executive MBA from the Kellogg School of Management at Northwestern University.

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