Mr. Terrence MacDonald reports

COPPER LAKE COMMENCES FIELD WORK ON THE MINE LAKE GOLD PROPERTY TO FOLLOW UP HISTORICAL ASSAYS OF UP TO 62.80 G/T GOLD

Copper Lake Resources Ltd. has commenced prospecting, mapping and trenching on the optioned Mine Lake gold property located near the community of Savant Lake, Ont., approximately 230 kilometres northwest of Thunder Bay, Ont.

Mine Lake property highlights:

• Contains three contiguous prospect areas: Mine Lake, Thomas Lake and Stewart-Contact prospects;
• Historical grab samples assayed up to 62.80 grams per tonne;
• Historical channel samples up to 3.20 metres of 6.90 grams per tonne gold;
• Mineralized shear zones historically mapped up to 1,500-metre strike length and over widths up to 50.0 metres;
• No modern drilling conducted.

Terry MacDonald, chief executive officer of Copper Lake Resources, commented: "The work on the Mine Lake prospects follows closely on the heels of the Queen Alexandra work and continues our emphasis on unlocking the potential in these high-grade gold properties which have had little or no modern exploration work performed. We are also looking to add to our portfolio of high-grade gold properties through the selective acquisition of properties as opportunities arise."

The Mine Lake property is adjacent to the past-producing St. Anthony gold mine, which operated from 1934 to 1942 and produced 63,310 ounces of gold from 332,720 tons, an average recovered grade of 0.191 ounce gold per ton, which is equivalent to 6.13 grams per tonne gold.

The Savant-Sturgeon greenstone belt is similar to many of the Archean greenstone belts located in Northwestern Ontario, where orogenic lode gold deposits are closely associated with regional deformation zones. The property area has historically been explored for high-grade gold quartz veins and hosts numerous small pits and historical shafts that targeted the gold-bearing quartz vein systems. Visible gold in quartz is common. Most of these high-grade gold prospects on the Mine Lake property remain underexplored and poorly understood.

About the Mine Lake property

The Mine Lake claims cover three prospects, namely Mine Lake, Thomas Lake and the Stewart-Contact zone and covers approximately 480 hectares (4.8 square kilometres). Historically, Mine Lake and the Stewart-Contact zone saw extensive trenching, blasting of several pits and the sinking of two shallow shafts with limited underground development. No modern drill holes have been completed and no assays have been reported from the 17 historical shallow drill holes.

Mine Lake prospect

The potential for gold mineralization was recognized in the Mine Lake area during the 1930s. The Mine Lake and Thomas Lake areas were prospected and two shafts were sunk on Mine Lake in 1934. Grab samples from an outcropping vein in the vicinity report visible gold being observed from a 3.0-metre-wide vein in the area, but no assays were reported.

At the southerly Mine Lake prospect, a northwest-trending shear zone or splay has been discovered. The zone is marked by intense iron-carbonate alteration and contains gold-bearing quartz and quartz-iron-carbonate vein zones measuring between 3.0 metres and 10.0 metres in width. Sampling of the historical pits has returned assays of up to 29.0 grams per tonne gold. Trenching and channel sampling in 2010 returned 6.90 grams per tonne gold over 3.2 metres, including 20.1 grams per tonne gold over 1.0 metre. The northwest-trending shear zones are interpreted to represent gold-bearing dilational structures extending from the main north-south deformation zone. These structures have not been drilled and are an excellent target for follow-up work. Exploration work performed in 2011 outlined at least two near-parallel, north-south-striking shear zones marked by moderate to intense iron carbonate and sericite alteration, increased sulphide content (pyrite/chalcopyrite), and gold-bearing quartz veins. The shear zones appear to remain open along strike.

Thomas Lake prospect

Work on the area during 1935 comprised three trenches along with sampling yielding quartz veins assaying from 0.52 ounce per ton to 1.93 ounces per ton gold from the No. 8 vein. A year later in 1936, channel samples from No. 10 vein produced an assay of 1.15 ounces per ton. Previous exploration work at the Thomas Lake area has outlined at least two near-parallel, north-south-striking shear zones exposed over a 1,500-metre strike length and up to 50.0 metres in width. Moderate to intense iron carbonate and sericite alteration mark the shear/deformation zones with increased sulphide content and gold-bearing quartz veins developed at the contacts between felsic volcanic rocks and gabbro intrusions.

Grab sampling of exposed quartz vein zones in 1982 assayed up to 62.80 grams per tonne gold. The vein zones are hosted by strongly sheared quartz porphyry rocks measuring up to 15.0 metres in width. The vein zone remains open along strike.

Trenching in October, 2010 (one trench), uncovered four composite quartz, iron carbonate and sulphide vein zones that measure between 0.3 metre to 3.0 metres in width. The vein zones are hosted by strongly sheared quartz porphyry rocks measuring up to 15.0 metres in width and marked by significant sericite, chlorite and iron carbonite alteration. The vein zone remains open along strike. A total of 114 channel samples were collected from the trench with significant assays of 15.4 grams per tonne gold over 0.5 metre. No drilling has been reported in the area.

Stewart-Contact prospect

The westerly Stewart-Contact zone is a parallel deformation zone located 500 metres west of the Thomas Lake-Mine Lake gold trend. The Stewart-Contact zone was recognized as being prospective for economic mineralization by W.F. Stewart during the 1930s. Grab samples assayed from 0.3 ounce per ton to 6.0 ounces per ton on the Stewart vein and from 0.4 ounce per ton to 2.8 ounces per ton on the contact vein.

The company recently announced (Aug. 30, 2018, news release) that it would begin similar work on its nearby Queen Alexandra gold property.

Qualified person

Gary O'Connor, FAusIMM, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.

About Copper Lake Resources Ltd.

Copper Lake Resources is advancing the Marshall Lake high-grade VMS (volcanogenic massive sulphide) copper, zinc, silver and gold property, just north of Geraldton, Ont., accessible by all-season road. Copper Lake Resources has an option to increase its interest to 87.5 per cent from its current 75-per-cent interest.

The company has a mineral property option agreement to acquire up to 100 per cent of four separate Ontario properties in the Kenora and Patricia mining belt: the Queen Alexandra gold property, the Mine Lake gold property, the Grand Chibougamau gold property and the Centrefire-Redhat gold-copper property.

We seek Safe Harbor.