Mr. Simon Quick reports

CANADIAN COPPER RECEIVES APPROVAL MILESTONE FOR CARIBOU TRANSACTION AND APPOINTS VICE PRESIDENT, PROJECTS

Canadian Copper Inc. has received Lieutenant-Governor for the Province of New Brunswick approval for the Minister of Natural Resources to enter into a limited environmental liability agreement (LELA) with the company for the Caribou complex. Further, the company also announces that Christian Brousseau, PEng, MBA, has been appointed as the company's vice-president of projects.

Simon Quick, chief executive officer of Canadian Copper, stated: "Receiving this approval milestone for the Caribou transaction is excellent news. Commensurate with nearing the transaction close, we are also pleased to announce Mr. Brousseau's appointment to vice-president, projects, responsible for delivering the Murray Brook and Caribou integrated development project. The CCI team is growing, and I am really looking forward to learning from and working with Christian on building New Brunswick's next critical minerals mine. I think Christian brings the right technical expertise, temperament and project delivery experience to achieve our company production objectives."

Summary of next steps to close Caribou complex transaction

With the LELA approval now received, the company anticipates the following next steps to close the Caribou transaction:

1. The company, as buyer, and FTI Consulting Canada Inc., the court-appointed receiver of Trevali Mining New Brunswick Ltd., as seller, will finalize the asset purchase agreement (APA) as described in the Caribou transaction term sheet announced on Oct. 28, 2024.
2. Following the completion of the APA, FTI will schedule a hearing to seek court approval of the APA and a vesting order for the Caribou complex transaction.
3. Following court approval, customary exchange of closing documents between the company, the receiver and the New Brunswick government is expected with Caribou title transfer expected to occur in Q2 2026.

Appointment of Mr. Brousseau to vice-president of projects

Mr. Brousseau is a seasoned mining project executive with 35 years of experience in engineering, construction and project management for both greenfield and brownfield projects across precious and base metal development assets. Mr. Brousseau's project execution history includes some of Canada's largest mining projects such as Osisko Mining's Malartic project, Detour Gold's Detour Lake project and Goldcorp's Elenore project. Mr. Brousseau spent eight years with Falconbridge in various capital projects, including Raglan, Kidd Creek and the Horne smelter. Mr. Brousseau obtained his engineering degree from Ecole Polytechnique de Montreal, is a registered PEng in Quebec and Ontario, and holds an MBA from Universite du Quebec.

Mr. Brousseau was awarded 500,000 stock options in the corporation exercisable at 60 cents per stock option for up to five years from the date of grant. The stock options vest in equal instalments of one-third per year, commencing on the first anniversary of the date of issuance.

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 190,799,705 shares issued and outstanding in the company.

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