Mr. Simon Quick reports

CANADIAN COPPER EXECUTES SALE AGREEMENTS VALUED AT $2.1M

Canadian Copper Inc. has signed two separate conditional sale agreements to sell and transfer its option agreement rights for the Chester and Turgeon projects located in New Brunswick, Canada, for total possible consideration of $2.16-million in cash and shares.

"Focus is essential when navigating the current capital markets situation for most junior miners in Canada today. We believe this strategic divestment achieves two objectives for us. First, it enables Canadian Copper to allocate capital exclusively on the advanced large open-pit Murray Brook deposit and surrounding exploration ground, while still participate in Chester and Turgeon resource growth through Raptor Resources shares. Second, this transaction will strengthen Canadian Copper's balance sheet without shareholder dilution," said Simon Quick, chief executive officer of Canadian Copper.

Transaction summary

Chester project definitive sale agreement

Canadian Copper will sell and transfer its Chester project option agreement rights to Raptor Resources Ltd. for the following consideration:

1. A non-refundable fee of $90,000 paid by Raptor to the company within 10 business days of definitive agreement execution;
2. A $675,000 cash payment by Raptor to the company on or before June 30, 2024. This payment is conditional on Raptor listing its company shares on the Australian Stock Exchange (ASX);
3. The issuance of four million buyer shares to the company on or before June 30, 2024.

Turgeon project definitive sale agreement

Canadian Copper will sell and transfer its Turgeon project option agreement rights to Raptor Resources for the following consideration:

1. The buyer incurring a minimum work commitment of $450,000 on the Turgeon property within 12 months of definitive agreement execution. This condition can be waived with a cash payment of $275,000 from Raptor to the company;
2. A $675,000 payment with a minimum cash component of $270,000 by Raptor to the company on or before March 4, 2025. This payment is conditional on Raptor listing its company shares on the ASX.

The company is further amending the Puma option agreement, changing the terms of the remaining two anniversary payments to Puma Exploration Inc. to reflect the sale of the Chester and Turgeon projects to Raptor. The company will pay a finder's fee to an arm's-length third party of 5 per cent in cash at each successful milestone of the Chester and Turgeon transactions.

Qualified person

Eugene Puritch, PEng, FEC, CET, president of P&E Mining Consultants Inc. and independent qualified person as defined in National Instrument 43-101, is responsible for the Murray Brook mineral resource estimate and has reviewed and approved the scientific and technical content of this news release.

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 90,044,762 shares issued and outstanding in the company.

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