Mr. Richard Warke reports

CATALYST COPPER ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND APPOINTMENT OF OFFICERS

Further to the news release dated Aug. 29, 2014, Catalyst Copper Corp. has closed its non-brokered private placement of 2.1 million units at a price of 30 cents per unit for gross proceeds of $630,000. Each unit consists of one common share and one full common share purchase warrant. Each whole common share purchase warrant will be exercisable at 40 cents per common share until Sept. 15, 2017. The securities issued in connection with this private placement are subject to a four-month statutory hold period expiring on Jan. 16, 2015. Proceeds will be used for general working capital and to explore other potential opportunities.

The company also announces the appointment of Paul Ireland as chief financial officer, Purni Parikh as vice-president and corporate secretary, and Letitia Cornacchia as vice-president, investor relations and corporate communications.

Mr. Ireland is a chartered accountant with extensive financial experience in the mining and forestry sectors and is currently the chief financial officer of Wildcat Silver Corp. Other recent CFO roles include with Ventana Gold Corp., Western Forest Products Inc. and Diavik Diamond Mines Inc.

Ms. Parikh brings extensive business and corporate governance experience from 20 years in the mining sector and is currently vice-president, corporate secretary, of Wildcat Silver and Plata Latina Minerals Corp. and previously held the same positions with Augusta Resource Corp. and Ventana Gold.

Ms. Cornacchia brings over 10 years of experience in investor relations, corporate communications and finance, largely in the mining industry, and is currently vice-president, investor relations, of Wildcat Silver and Plata Latina Minerals. She previously held the same positions with Augusta Resource and Ventana Gold and before that was director of investor relations at Yamana Gold Corp.

Mr. Ireland and Ms. Parikh have replaced Jeremy Crichton, who has tendered his resignation as chief financial officer and corporate secretary. The board wishes to thank Mr. Crichton for his past service and wishes him every success in his future endeavours.

Pursuant to the private placement, Augusta Investments Inc., a company owned and controlled by Richard Warke, acquired 700,000 units at a price of 30 cents per unit, which consists of 700,000 common shares, representing 2.23 per cent of the issued and outstanding common shares and 700,000 warrants representing 3.04 per cent of the issued and outstanding warrants of the company. As a result of the acquisition of securities described herein, Mr. Warke indirectly beneficially owns in aggregate 5,661,904 common shares of Catalyst, representing 18.04 per cent of the current issued and outstanding shares of Catalyst, and would own 11,190,475 common shares, representing 30.32 per cent on a partially diluted basis, assuming the exercise of 5,528,571 warrants.

Also pursuant to the private placement, the Radcliffe Foundation, a charitable organization controlled by Frank Giustra, acquired 700,000 units at a price of 30 cents per unit, which consist of 700,000 common shares, representing 2.23 per cent of the issued and outstanding common shares and 700,000 warrants representing 3.04 per cent of the issued and outstanding warrants of the company. As a result of the acquisition of securities described herein, Mr. Giustra indirectly beneficially owns and/or controls in aggregate 4,369,123 common shares of Catalyst, representing 13.92 per cent of the current issued and outstanding shares of Catalyst, and would own and/or control 7,792,961 common shares, representing 22.39 per cent on a partially diluted basis, assuming the exercise of 3,376,171 warrants and 47,667 options.

The company further announces that pursuant to the private placement, Ian Telfer acquired 675,000 units at a price of 30 cents per unit, which consist of 675,000 common shares, representing 2.15 per cent of the issued and outstanding common shares, and 675,000 warrants, representing 2.93 per cent of the issued and outstanding warrants of the company. As a result of the acquisition of securities described herein, Mr. Telfer owns 6,275,000 common shares of Catalyst, representing 19.99 per cent of the current issued and outstanding shares of Catalyst, and would own 12.55 million common shares, representing 33.32 per cent on a partially diluted basis, assuming the exercise of 6,275,000 warrants. Each of Mr. Warke, Mr. Giustra and Mr. Telfer has signed a letter of undertaking to the TSX Venture Exchange stating that without receiving prior approval of the company's shareholders, they will not exercise their warrants at any time when such exercise would increase their ownership of common shares of the company to 20 per cent or more of the issued capital.

The company has been advised that Mr. Warke and his related entities, Mr. Giustra and his related entities, and Ian Telfer have acquired these securities for investment purposes and have no present intention to acquire further securities of the company, although they may in the future acquire or dispose of securities of the company, through the market, privately or otherwise, as circumstances or market conditions warrant.