Mr. Simon Quick reports

CANADIAN COPPER SATISFIES OPTION AGREEMENT CONDITION

Pursuant to the terms of an option agreement Canadian Copper Inc. entered into with strategic partner Puma Exploration Inc. on June 30, 2021, it has made its first anniversary payment. All five mineral assets contained in the option agreement are located in the Bathurst camp of New Brunswick, Canada.

"Since going public in July, 2022, Canadian Copper's strategic objective was to acquire and continue to grow our mineral inventory of critical minerals focused in the Bathurst camp of New Brunswick. This area is a top-tier jurisdiction with a permitting framework, established infrastructure and extensive history of large base metal mines, which are all necessary ingredients to successful mining development," commented Simon Quick, chief executive officer of Canadian Copper. "By executing this strategy, our Chester deposit indicated resources grew by more than three times in 2022 with targeted exploration efforts. Approximately 80 per cent of the Chester copper resources are within 100 metres from surface at over 1 per cent Cu grade. Now with our pending acquisition of the Murray Brook deposit announced on June 13, we will grow our mineral inventory of critical minerals even more! We are eager to close the Murray Brook acquisition to evaluate integration and growth opportunities with this large open-pit, 18-million-tonne deposit relative to our existing critical mineral projects in the region."

To review the company developments at the Chester project, please see the 2022 press release. Summary Chester mineral resource estimate highlights are:

• Indicated mineral resources: 4,866,000 tonnes at a grade of 1.13 per cent copper, containing 120.28 million pounds (Mlb) of copper, with potential byproduct of 13.66 Mlb lead, 10.52 Mlb zinc, 69,000 ounces of silver or potentially 7.51 Mlb of in situ copper equivalent (CuEq);
• Inferred mineral resources: 1,819,000 tonnes at a grade of 1.01 per cent copper, containing 38.35 million pounds of copper, with potential byproduct of 3.17 Mlb lead, 1.57 Mlb zinc or potentially 1.35 Mlb of CuEq.

Option agreement conditions

Canadian Copper has the right to acquire 100-per-cent interest in the option agreement assets under the following payment conditions:

• $300,000 in cash or shares on the first anniversary payment (satisfied);
  • The company has issued Puma 3,637,873 Canadian Copper shares;
• $1-million in cash or shares on the second anniversary payment;
• $1-million in cash or shares on the third anniversary payment.

Qualified person

Michael Dufresne, MSc, PGeol, PGeo, is president and a principal of Apex Geoscience Ltd. and is an independent QP. Mr. Dufresne is responsible for the Chester MRE and has reviewed and approved the geological information reported in this news release.

About Canadian Copper Inc.

Canadian Copper is a Canadian-based mineral exploration company with a copper and base metals portfolio of historical resources and grassroots projects. The company is focused on the prolific Bathurst mining camp (BMC) of New Brunswick, Canada. There are currently 70,555,000 shares issued and outstanding in the company.

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