Mr. Jeff Ackert reports

CARUBE COPPER SECURES PROMISING QUEBEC PLATINUM PALLADIUM PROJECT

Carube Copper Corp. has secured its right to acquire, subject to a 2-per-cent net smelter return royalty, 100 per cent of the Fiedmont platinum group element (PGE) project by making the first of four scheduled anniversary payments to the vendors. Fiedmont consists of 54 mining claims and covers 23 square kilometres. It is accessible by paved highway and located 30 kilometres north of Val d'Or, a major mining and service centre in west Quebec.

Amendment to vendor agreement

Subject to the pending approval of the TSX Venture Exchange, the compensation payable to the vendors for the first anniversary payment shall be a total of 238,148 common shares, consisting of: (a) 90,000 common shares of CUC; plus an additional (b) 148,148 common shares of CUC, in lieu of $20,000 in cash (based on an average trading price of 13.5 cents per share for the seven trading days prior to July 7, 2016, the anniversary date).

Previous work and discoveries

Following the discovery of PGE mineralization in a highway cut in 2001 by two local geologists, R.J. (Bob) Tremblay and Terry Coyle, exploration work, which consisted of prospecting, blasting, geophysical, geochemical and geological surveys, and limited drilling, was completed. Multiple zones, with historic intercepts of up to 1.19 grams per tonne PGEs (0.86 gram per tonne palladium plus 0.33 gram per tonne platinum) over 8.6 metres, 1.48 grams per tonne PGEs (1.04 grams per tonne palladium plus 0.44 gram per tonne platinum) over five metres and 1.05 grams per tonne PGEs (0.77 gram per tonne palladium plus 0.28 gram per tonne platinum) over 3.5 metres (1), have been delineated by scout drilling in one small part of the project area. Similar intercepts were recorded in blast holes and trenches; one channel sample yielded 5.69 grams per tonne PGEs (4.16 grams per tonne palladium plus 1.53 grams per tonne platinum) over one metre (1). The PGE mineralization is associated with three distinct complex differentiated mafic to intermediate intrusions within the Kinojevis group volcanic rocks. Within the northernmost intrusion, soil geochemistry, geophysics and prospecting have identified nine PGE targets, with at least five being high priority.

Of note is the fact that Fiedmont and the Lac des Iles (LDI) mining complex, one of only two primary producers of palladium in the world, have similar host rocks, intrusives and palladium/platinum ratios. Carube Copper believes that this is a result of the energetic emplacement of a differentiated complex intrusive with numerous disruptive magma pulses, subsequent alteration and the emplacement of PGE mineralization. Also, Fiedmont is of a similar size to the Lac des Iles's three-kilometre-long-by-1.5-kilometre-wide mine block intrusion. The PGE targets at Fiedmont, as outlined by soil geochemistry, have similar planar dimensions to the PGE zones at LDI.

Numerous lithium, bismuth and molybdenum targets were delineated in one part of the northernmost intrusion at Fiedmont, which is within 2.5 kilometres of the eastern margins of the La Corne batholith.

(1) These are historical results from Kinbauri Gold Corp.'s press release April 3, 2006; reported PGE results are combined palladium and platinum assays.

Planned exploration

Future work will involve trenching and stripping of areas that have been identified by the soil geochemistry to be prospective for palladium and platinum, as well as areas prospective for molybdenum, bismuth and lithium. A better understanding of the nature, grade and structure of the mineralization is required in order to correctly locate and align follow-up drilling.

Terms of agreement moving forward

Over the next three anniversary dates, Carube Copper must issue a total of 310,000 shares, pay the vendors $130,000 and complete a total of $630,000 in exploration expenditures to earn a 100-per-cent interest in the Fiedmont project.

Qualified person statement

This press release has been reviewed and approved by Dr. Vern Rampton, PEng, in his capacity as a qualified person as defined under National Instrument 43-101.

About Carube Copper

In Jamaica, Carube Copper has two projects, totalling 188 square kilometres in area, that are the subject of separate joint venture agreements with Oz Minerals Ltd., an Australian copper-gold producer with a market capitalization of $2-billion. Carube Copper holds a 100-per-cent interest in two other nearby projects totalling 80 square kilometres. In Canada, Carube Copper holds a 100-per-cent interest in three porphyry copper-gold-molybdenum properties totalling 593 square kilometres within the Tertiary-aged Cascade magmatic arc in southwestern British Columbia.

We seek Safe Harbor.