Mr. Marcel de Groot of Lowell Copper reports

LOWELL COPPER PROVIDES CORPORATE UPDATE

Lowell Copper Ltd. has provided an update with respect to its project portfolio.

West Jerome option agreement

Lowell Copper and Cornerstone Metals Inc. have entered into a binding option agreement in respect of the grant of an option on Cornerstone's West Jerome project in Yavapai county, Arizona.

Under the terms of the option, Lowell Copper can acquire up to a 75-per-cent interest in the project in exchange for Lowell Copper: 1) on the first anniversary and annually thereafter, issuing to Cornerstone $40,000 worth of shares; 2) financing work expenditures as described below; and 3) issuing to Cornerstone $15,000 worth of shares subject to the results of a gravity survey to be undertaken on the project as part of the initial work program.

Lowell Copper can earn an initial 51-per-cent interest in the project by incurring expenditures of $600,000 on the project within two years of the signing of the option. To earn an additional 24-per-cent interest in the project, for a total interest of 75 per cent, Lowell Copper must incur an additional $2-million within two years of earning the initial 51-per-cent interest in the project, after which a joint venture will be formed.

J. David Lowell, chairman and chief executive officer of Lowell Copper, commented: "We intend to complete an initial gravity survey on the project which, if warranted by results, will be followed up with a targeted drill program. Consistent with our strategy, West Jerome represents an attractive copper-rich volcanogenic massive sulphide (VMS) target which can be tested efficiently and economically."

The West Jerome property consists of approximately five square kilometres of claims on the west side of patented lands held by Freeport McMoran. The project, a volcanogenic sulphide camp, contains a high-grade, massive sulphide target located 2.4 kilometres south of the past-producing United Verde mine (Phelps Dodge production records from 1889 to 1974 indicate 33 million tons grading 4.36 per cent copper, 1.53 ounces per ton silver and 0.042 ounce per ton gold; 2.9 billion pounds of copper -- this information is not necessarily indicative of the mineralization on the project).

The project has excellent geological and geophysical support for a large VMS target. The property has two favourable stratigraphic horizons traced from the United Verde mine onto West Jerome. Both surface exposures and limited drilling have identified strong chloritic alteration typical of a VMS feeder pipe, and geophysical surveys (electromagnetic) have identified two strong anomalies coincident with the favourable stratigraphic horizons and chlorite alteration.

Ricardo exploration update

As previously reported, the company received the required drilling permits and commenced drilling at Ricardo during the fourth quarter of 2014. The first hole reached a depth of 438 metres, short of the targeted depth which could have been up to 1,000 metres, after which it was lost due to challenging ground conditions.

Examination of the core has revealed, although drilling did not reach the intended depth, moderate intensity quartz-sericite, which in occasional intervals became more intense. The core also appeared to indicate a zone of incipient stockwork containing pyrite and trace amounts of chalcopyrite, which in an ordinary porphyry copper orebody indicates a zone outside of a well-developed stockwork zone containing first pyrite on the outside, then pyrite and chalcopyrite in the orebody.

Lowell Copper is encouraged by these preliminary observations, and has made changes to the drill equipment to continue to test the Ricardo targets with further drilling, including twinning the first hole, commencing during the first quarter of this year.

TC project exploration update

The company also announces that the company is discontinuing exploration of the TC project based on initial drill results. One hole was undertaken to test for a buried copper porphyry deposit; however, the results did not meet expectations. Total investment was approximately $100,000.

Mr. Lowell is the qualified person as defined under National Instrument 43-101, and has approved the scientific and technical content of this news release.

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