Canadian Copper Provides Status Update on Preliminary Economic Assessment and Exploration Program

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Canadian Copper Provides Status Update on Preliminary Economic Assessment and Exploration Program

Toronto, May 12^th, 2025 – Canadian Copper Inc. (CSE:CCI) (“Canadian Copper” or the “Company”) provides an update on its corporate activities related to its upcoming Caribou Complex Preliminary Economic Assessment (“PEA”) and its on-going Murray Brook East exploration program.

Combined Strategy PEA: Murray Brook Deposit & the Caribou Complex

The Company is scheduled to publish the financial and annual production results of its Combined Strategy PEA this month of May 2025 as planned. The development plan envisions processing the 100%-owned Murray Brook deposit at the permitted and constructed Caribou Processing Complex. The Company signed a term sheet on October 28, 2024 to purchase the Caribou Processing Complex. For details of the transaction, please click here.

The following activities remain to be completed prior to publishing the PEA this month:

Tailings expansion design, capital, and closure strategy;
Project capital and operating cost review;
Combined Strategy reclamation cost estimate.

Murray Brook East Exploration Update

The exploration program at Murray Brook East (Figure A) remains on schedule for drilling in June. Required permitting and data compilation completed in April. During the month of May, mapping, prospecting and trenching will be carried-out to further refine targets. The Company expects to begin drilling its 1,500 meter drill program in June and results are expected for Q3 2025.

The current Murray Brook East target area is 5.5 km in size and its eastern boundary is 4 km west of the past producing Caribou Mine. Work completed to date on the area consists of several geophysical surveys: MegaTEM in 2004, HeliTEM in 2011, gravity in 2012, and MT in 2021 (Figure B). In 2022, a 5.7 km long comprehensive soil geochemical sampling program was completed and this area will be the focus of CCI’s exploration efforts this year. This target area shares important geological and geophysical characteristics as the Murray Brook deposit which sits only 5 km to the west. The Murray Brook deposit is located adjacent to a large magnetic anomaly and sits on the same Caribou Horizon.

Figure A: Murray Brook East Location

Figure B: Murray Brook East Target Area

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 PEA, opportunities, combined 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 Factors” in the Company’s annual management discussion and analysis for the year ended October 31, 2024 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on 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 PEAs and Mineral Resource Estimates

This preliminary economic assessment is preliminary in nature and 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. 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. The estimation of Mineral Resources 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 relevant risks, uncertainties, contingencies and other factors described in the Company’s public disclosure available on SEDAR+ at www.sedarplus.ca. 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. The accuracy of any Mineral Resource Estimates 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. Mineral Resource Estimates may have to be re-estimated based on, among other things: (i) fluctuations in mineral prices; (ii) results of drilling, and development; (iii) results of future test mining and other testing; (iv) metallurgical testing and other studies; (v) results of geological and structural modeling including block model design; (vi) proposed mining operations, including dilution; (vii) the evaluation of future mine plans subsequent to the date of any estimates; and (viii) the possible failure to receive required permits, licenses and other approvals. It cannot be assumed that all or any part of a “inferred” or “indicated” Mineral Resource Estimate will ever be upgraded to a higher category. The Mineral Resource Estimates disclosed in this news release were reported using CIM Standards in accordance with NI 43-101.

May 13, 2025
6:00 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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