Mr. Timothy Marsh reports

BELL COPPER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT, BIG SANDY DRILLING

Bell Copper Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $3-million.

The financing shall consist of up to 25 million units at a price of 12 cents per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will be exercisable into one additional share at a price of 20 cents per share for a period of two years from the date of closing of the financing. At the discretion of the company, warrants will be subject to an accelerated expiry upon the occurrence of a triggering event. A trigger event shall occur when the VWAP (volume-weighted average price) for the company's common shares on the TSX Venture Exchange is greater than 40 cents per share for a period of 20 consecutive trading days. On the occurrence of a trigger event, at any time after four months from the date of the issue of the warrants, the company may, within 20 days of such a trigger event (but is not required to do so), shorten the term of the warrants by giving 30 days of notice to the holders by way of a news release and written notification, in which case the warrants shall expire within 30 days of the date of dissemination of the news release.

The securities issued pursuant to the financing will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing. The company may pay finders' fees incidental to the financing, as permitted by the policies of the TSX Venture Exchange.

Finances raised from the financing will be used for the continuing drilling and exploration program at the company's 100-per-cent-owned Big Sandy porphyry copper project and for general working capital. Closing shall be subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

Big Sandy copper discovery

Early in 2022, the company reported that drill hole BS-3 had discovered a porphyry copper deposit on its Big Sandy property in Arizona (refer to Feb. 2, 2022, news release). While drill hole BS-3 did not enter the mineral-rich copper shell, it does provide strong evidence for close proximity to the target, including 200 metres of chalcocite (copper sulphide mineral) grading 0.42 per cent copper (Cu) and 2.4 grams per tonne (g/t) silver (Ag) from 1,302 metres to 1,502 metres, and an additional 524 metres from 1,502 to 2,026 metres (total depth) of chalcopyrite grading 0.16 per cent Cu and 2.2 g/t Ag.

The entire 724-metre sulphide interval from 1,302 to 2,026 metres carried 10 weight per cent pyrite and was characterized by pervasive sericitic alteration hosted by quartz monzonite porphyry, representing a typical copper-poor pyrite shell surrounding an anticipated copper shell.

Metallurgical testing of the 200-metre chalcocite intercept produced a flotation concentrate grading 25 per cent copper and 130 grams per tonne silver, with copper recovery up to 84 per cent and silver recovery of 68 per cent. Bottle roll testing of the same chalcocite interval showed that 96 per cent of the copper was recoverable by a leaching approach.

Flotation testing of molybdenite, hindered by low feed grade, yielded a molybdenum concentrate grading 20.7 per cent molybdenum (Mo).

Testing for the strategic metal rhenium showed that a concentrate running 50 per cent Mo would carry around 1,700 g/t rhenium.

Chalcocite and chalcopyrite were previously seen in drill holes BS-1 and BS-2 located 1.2 kilometres and 2.3 kilometres, respectively, from discovery hole BS-3. The kilometre-scale dimensions of copper mineralization between these three holes compare well with the known five-kilometre-by-six-kilometre dimensions of the exposed and faulted-off roots of the porphyry system, cropping out west of the property.

The company is currently permitted to drill up to 10 follow-up holes from two drill pads, 900 metres apart. An access road connecting the two drill pads has been constructed and a water well has been plumbed to the site. Drilling of BS-4 to test the inferred copper-rich heart of the porphyry system is expected to begin before the end of the year.

Tim Marsh, Bell's president and chief executive officer, and a qualified person as defined by National Instrument 43-101, said: "Bell Copper Corp. has made a grassroots discovery of a significant porphyry copper system, something that no other explorer has done in Arizona in the three decades since Resolution was found, and something that is critically needed if the world is to be successful in transitioning to greener energy. We are excited to continue unwrap the gift that nature deposited at Big Sandy."

Qualified person

The technical content of this release has been reviewed and approved by Mr. Marsh, PhD, PEng, the company's chief executive officer and president. No mineral resource has yet been identified on the Big Sandy project. There is no certainty that the present exploration effort will result in the identification of a mineral resource or that any mineral resource that might be discovered will prove to be economically recoverable.

About Bell Copper Corp.

Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in Arizona.

We seek Safe Harbor.