Mr. Simon Quick reports

CANADIAN COPPER INC. ANNOUNCES UP TO $96M IN PROJECT DEVELOPMENT CAPITAL, DEEPENS STRATEGIC PARTNERSHIP WITH OCEAN PARTNERS, AND WELCOMES OR ROYALTIES INC. AS NEW PARTNER

Canadian Copper Inc. has secured up to $96-million in committed capital from OR Royalties Inc., a global top 5 precious metal streaming company, and Ocean Partners U.K. Ltd. to advance development of its 100-per-cent-owned Murray Brook project and Caribou process plant. The project financing represents a significant derisking milestone as the company aims to become a near-term critical mineral producer in Bathurst, N.B., Canada. A total of $12.33-million is to be received upon closing this month.

Project financing highlights

• OR Royalties will provide project funding of $38.35-million in exchange for a 20-per-cent life-of-mine payable silver and gold stream from the Bathurst complex.
• Ocean Partners, a current 17-per-cent shareholder in Canadian Copper, will provide up to $48-million in project debt in exchange for 100 per cent of the Bathurst complex offtake rights.
• In addition, OR Royalties (concurrently) and Ocean Partners (a future date, if needed) have committed to common share equity subscriptions into Canadian Copper for an amount up to of $10.5-million.

Simon Quick, chief executive officer of Canadian Copper, stated: "Junior near-term producers have three primary goals: 1) secure project financing, 2) secure all necessary permits for construction, and 3) execute the project to plan. Today's project financing funds the PEA capital expenditure requirements but also allows our growing development team to focus on securing remaining permit approvals and to deliver one of Canada's few near-term critical mineral operations. I also strongly believe this flexible financing structure protects our current long-term shareholders from excessive common share equity dilution and maintains our strong shareholder registry for future development."

The project financing is designed to achieve two primary objectives:

1. Provide the company with sufficient working capital to complete required Bathurst complex work streams including awarding all material project tenders for this April, staffing the execution team, project engineering, permitting and where possible, compressing the development schedule to first production. This financial capacity would also enable the company to acquire nearby deposits to further increase the Bathurst complex mine life, if they become available.
2. Create financial capacity for the company's near-term development capital requirements, while maintaining optionality with other capital providers, mainly Canada's critical minerals framework announced in the 2025 federal budget. This is illustrated by 55 per cent of the total project financing being optional at the company's discretion.

Company balance sheet and project financing summary

As of Jan. 31, 2026, the company had available cash of $15.4-million. In addition, the company completed a flow-through private placement of $2.36-million on March 6, 2026. Lastly, the company's balance sheet includes 38.8-million in-the-money warrants priced at 25 cents that, if fully exercised, would result in proceeds to Canadian Copper of $9.7-million. These warrants are subject to a forced acceleration clause at the company's election and expire in November, 2026.

The company expects the following material cash outflows as part of the Caribou transaction closing this quarter:

1. $6-million to close the acquisition of the Caribou process plant;
2. $4,262,350 to finance the closure surety bond, which will yield 3 plus per cent per annum; the company is currently working on alternatives to reduce this cash collateral component.

OR Royalties -- 20-per-cent precious metals stream and equity subscription at 20-per-cent premium to closing price

Pursuant to the terms of the precious metals stream agreement comprising silver and gold deliveries, OR Royalties will provide $38.35-million in exchange for the company delivering 20-per-cent life-of-mine payable silver and gold from the Bathurst complex. OR Royalties will purchase 20 per cent of payable silver and gold produced by the company at a purchase price equal to 20 per cent of the spot price for silver and gold, respectively.

The OR stream will consist of:

1. A $6.85-million upfront deposit payable upon closing subject to customary conditions precedent. It is expected that closing will occur in April, 2026.
2. A total of $31.5-million, the balance of the upfront deposit under the OR stream, payable in quarterly instalments throughout the construction period of the Bathurst complex.

In addition, OR Royalties will enter into a $5.48-million equity subscription for Canadian Copper common shares immediately upon the closing of the OR stream, consisting of 7,306,666 common shares at a price of 75 cents per share, a 20-per-cent premium to the company's previous closing price. The OR equity financing will close on or about five business days from today.

Construction funding instalments will be contingent upon typical industry-standard conditions, including completing customary milestones such as obtaining all remaining required permits for the Bathurst complex development, company board approval for construction, material agreements for execution, full funding to completion available at the time of each instalment, a comprehensive financial model to support a minimum debt service coverage ratio, as well as other factors.

Ocean Partners -- concentrate prepayment facility

Pursuant to the terms of the concentrate prepayment facility, Ocean Partners, a current 17-per-cent shareholder in Canadian Copper, will provide up to $48-million in project debt in exchange for 100 per cent of the Bathurst complex offtake rights. Ocean Partners has further committed to two possible additional capital injections: 1) exercising 12,725,000 warrants currently held with an exercise price of 25 cents, and 2) at Canadian Copper's election, subscribing to an additional $5-million in equity (terms to be mutually agreed upon) if required by the company at a future date.

The Ocean Partners facility's key features include:

1. 36-month term including an initial 12-month grace period;
2. Interest rate: SOFR (secure overnight financing rate) plus 7.75 per cent per annum;
3. Fee: 2-per-cent payable in cash or shares as drawn;
4. Early repayment fee of 2 per cent.

Canadian Copper has provided OR Royalties and Ocean Partners with corporate guarantees and security collectively ranked pari passu over the company's assets related to the Bathurst complex.

Multilateral Instrument 61-101 -- Protection of Minority Security Holders

Ocean Partners currently holds 32,672,223 shares, approximately 17 per cent of the company's issued and outstanding shares. Ocean Partners is considered a related party of the company under MI 61-101. The Ocean Partners facility is a related party transaction as the company is entering into a credit facility with Ocean Partners. The company will not issue shares to Ocean Partners as part of this transaction.

The company is exempt from the requirements of MI 61-101 to obtain a formal valuation as the Ocean Partners facility does not fall under the requirements of Section 5.4 of MI 61-101. Furthermore, the company is exempt from the requirements to obtain minority shareholder approval in connection with the Ocean Partners facility in reliance of Section 5.6(1)(f) of MI 61-101. Specifically, the Ocean Partners facility is a credit facility based on reasonable commercial terms that are not less advantageous to the company than if the credit facility were obtained from a person dealing at arm's length with the company, and each advance under the credit facility, as the case may be, is not a) convertible, directly or indirectly, into equity or voting securities of the company or a subsidiary entity of the company, or otherwise participating in nature, or b) repayable as to principal or interest, directly or indirectly, in equity or voting securities of the company or a subsidiary entity of the company.

Advisers

Ventum Financial Corp. acted as financial adviser to Canadian Copper in connection with the OR financing package. The company will pay $328,800 to Ventum representing 6-per-cent commission as a finder's fee in connection with the OR equity financing.

About Canadian Copper Inc.

Canadian Copper is a Canadian-based mineral development company with a 100-per-cent-owned copper, zinc and silver portfolio of mineral resources, as well as other base metal exploration assets. The company is focused on the prolific Bathurst mining camp (BMC) of New Brunswick, Canada. There are currently 190,739,705 shares issued and outstanding in the company.

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