Mr. Jonathan Egilo reports

NEW DISCOVERY AT LA HUERTA SOUTH SEES GRADES ON SURFACE ABOVE 10% COPPER

Axo Copper Corp.'s regional exploration and target generation have yielded high grades on surface, with multiple samples returning greater than 10 per cent copper in a new discovery approximately three kilometres away from the main La Huerta Trend and Las Marias.

"These new high-grade samples at surface provide further evidence driving our thesis that La Huerta could contain multiple high-grade copper structures, beyond the main La Huerta trend that hosts Las Marias," said Jonathan Egilo, president and chief executive officer. "Additional work is under way to make this a drill-ready target, and we expect to test La Huerta South with initial drilling in the back end of Q3."

Surface grab and trenching results

The La Huerta South area represents a region roughly three kilometres southwest of the Las Marias historical workings and the main La Huerta trend. Recent regional exploration work comprises mapping, grab sampling and channel sampling, which has resulted in numerous showings of elevated copper grades at surface. Whereas the main La Huerta trend is characterized by an intrusive dike with a northeast-southwest strike orientation, copper mineralization at La Huerta South has been found within north-south faults hosted in andesitic volcanic rocks.

Axo Copper currently sees two broad trends at La Huerta South. One has an expression that has so far been defined by a north-south strike of approximately 1,000 metres. This has yielded standout results through samples such as 7.0 per cent copper at sample LHS-3528, 10.8 per cent copper at LHS-3494 and 10.5 per cent copper at LHS-3367, with numerous other showings above 2.0 per cent copper. Copper mineralization is hosted in chalcopyrite and bornite.

North of the aforementioned north-south fault lies an antithetic structure with an east-west strike expression that currently extends approximately 500 metres along strike. Mineralization is also predominantly chalcopyrite and bornite, hosted within a fault through andesite. Samples in this east-west structure are highlighted by 3.6 per cent copper at LHS-15808, and 2.6 per cent copper at LHS-1244.

About Axo Copper Corp.

Axo Copper is a Canadian mineral exploration company engaged in the exploration and development of the La Huerta property, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-grade copper both at surface through sampling programs and at depth through initial drilling. The company is focused on continuing to define near-surface mineralization along the La Huerta trend, expanding mineralization at depth and targeting new discoveries in an underexplored district.

Procedure, quality assurance/quality control and data verification

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full drill core is sawn with a diamond blade drill core saw, with one-half of the drill core being bagged and tagged for assay. The remaining half portion is returned to the drill core trays for storage and/or for metallurgical test work.

The sealed and tagged drill core sample bags are transported to the ALS Chemex facility in Queretaro and Zacatecas, Mexico. ALS Chemex crushes the samples and prepares 200-to-300-gram pulp samples with 90 per cent passing Tyler 150 mesh (106 micrometres). Copper and multielement analysis is completed using total digestion (Code ME-ICP61 total digestion ICP). Overlimits greater than 10,000 grams per tonne copper are assayed using Cu-OG62.

QA/QC procedures monitor the chain-of-custody of the samples and include the systematic insertion and monitoring of appropriate reference materials (certified reference materials, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Axo's QA/QC protocols.

Qualified person

Charles Spath, PGeo, is the qualified person for Axo Copper, as defined under National Instrument 43-101. Mr. Spath has reviewed and approved the scientific and technical information in this press release.

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