PRESS RELEASES

Canadian Copper Reports Near-Surface Intercept of 6.16% Cu over 2 meters within 0.39% over 111 meters at the Chester Copper Project

Toronto, October 4th, 2022 – Canadian Copper Inc. (“Canadian Copper” or the “Company”) (CSE:CCI) is pleased to announce positive drilling results from its next thirteen drill holes at the Chester Copper Project (“Chester”) located in the Bathurst Mining Camp, New Brunswick, Canada.

Our drilling results continue to deliver as our geologic model predicted. These recent thirteen holes confirm long intervals of continuous, near surface copper mineralization with grades exceeding 6% copper and 9% zinc in some areas. This new drilling data supports the open pit potential at Chester and is integral in supporting the upcoming the Chester Mineral Resource Estimate (“MRE”) as well as planning for our next phase of drilling on the property.” Simon Quick, CEO of Canadian Copper. 

Drilling program highlights:

  • Hole C21-23: 6.16 % Cu over 2 meters in a continuous mineralized envelope grading 0.39% Cu over 111 meter starting 10 meters below surface.
  • Hole C21-26: 0.73% Cu, 4% Zn, 0.11 gpt Au, 18.84 gpt Ag over 13 meters in a continuous mineralized envelope grading 0.41% Cu over 25.25 meters starting 10 meters from surface.
  • Hole C21-28: 1.16% Cu over 9.85 meters including 3.82% Cu over 2 meters.

Similar to the previous drilling results at Chester, the program successfully met the designed objectives of:

  1. Validate historical resource and geologic model for the three primary zones, Central, East, and West Zone (Copper Stringer), which are all located near surface (see Figure 3).
  2. Outline additional resources in existing gaps between the Central and East Zone.
  3. Further explore for the presence of gold and silver mineralization near surface within the gossanous Central and East zones.

The Company remains on track to publish the new Mineral Resource Estimate (“MRE”) for the Chester Project in October of this year.

About the Chester Copper Project
 

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.

Figure 3: Chester Deposit Longitudinal Cross Section (Full image click here)
Table A: Chester Historical Mineral Estimate (Sim, 2014)*

*NI 43-101 Technical Report entitled “Technical Report – Chester Copper Property New Brunswick Canada” (effective March 07, 2014) prepared by Robert C. Sim, P. Geo., for Explor Resources and filed on www.sedar.com (Sim, 2014).

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 from Puma or independent third party.

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.

Quality Assurance/Quality Control (QA/QC)


Drill core is cut in half, one half of the core is taken as sample. Samples are bagged and sealed by Geominex, and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Rock sample ICP results with gold >1g/t were subjected to a metallic screening (Au-SCR24) 1kg pulp screened to 100 microns.

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.

Table 1: Chester Project Drilling Results
Table 2. Chester Project Drill Locations
For more information, please contact:

Simon Quick, Director and CEO   |   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 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 future exploration programs, anticipated content, and commencement in respect of the Company’s projects and mineral properties, including the proposed NI 43-101 technical report and timing and content of such technical report, 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, factors discussed under the heading “Risk Factors” in the Company’s prospectus dated May 24th, 2022 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.sedar.com. 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

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.sedar.com. 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.

Simon Quick
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.