Mr. Adam Travis reports

COAST COPPER'S BENSON LAKE MINE CSAMT GEOPHYSICAL SURVEY GENERATES 3 ANOMALIES ON TREND

Coast Copper Corp.'s controlled source audio-frequency magnetotellurics (CSAMT) ground geophysical survey completed on its optioned, past-producing Empire mine property located on Northern Vancouver Island, British Columbia, has generated three high-priority drill targets.

In December, 2023, Coast Copper engaged Peter E. Wallcott and Associates to complete a five-line (totalling five line kilometres (km)) CSAMT survey over portions of the property near the historical Benson Lake mine representing one of numerous targets on the property. The CSAMT survey shows that known mineralization and underground workings at the past-producing Benson Lake mine are associated with a resistivity low exhibited by two CSAMT lines over a 300-metre-by-500-metre area. From 1968 to 1972, approximately 1.2 million tonnes were mined from the Benson Lake mine with recovered grades of 1.47 per cent copper (Cu), 1.1 grams per tonne (g/t) gold (Au), 4.7 g/t silver (Ag) and 29 per cent magnetite. Based on the CSAMT features over the known mineralization, three high priority targets that exhibit similar characteristics are noted below.

Northwest of Benson Lake mine -- high-priority target area (300 m x 500 m) Section A- A

Two CSAMT lines were located to the northwest of the historical Benson Lake underground mine with the first line located just outside of the mine workings and downdip of an area historically called the QB zone and the second line a further 200 m to the northwest and downdip of an area historically called the QC zone. The 300-metre-wide resistivity low noted on both these lines also occurs in the hangingwall of the Sproule fault as does the mined-out portions of Benson Lake mine to the southeast. Two drill holes were completed in this area in 2007 (MW07-48 and 49) by Grande Portage Resources Inc., with drill hole MW07-48 intercepting 7.5 m of a massive magnetite layer assaying 0.27 g/t Au, 0.45 per cent Cu and 24.1 per cent iron (Fe) and MW07-049 intercepting 6.7 m of a semi-massive sulphide and dike breccia assaying 0.25 g/t Au, 0.64 per cent Cu and 8.1 per cent Fe. The combination of the Sproule fault, resistivity low and magnetic high feature from a 2006 regional airborne geophysical survey plus the encouraging 2007 drill intercepts, help identify the potential for a mineralized corridor. It is also important to note that this resistivity anomaly is open to the northwest for over 500 m until it reaches the Raven Fault.

Keystone -- high-priority target area (100 m by 1,000 m) Section B-B

The upper or western ends of three CSAMT lines also identified an approximate 100 m thick sill-like, gently west-dipping low resistivity feature that appears to be associated with mapped Keystone volcanic sills that are associated with mineralization at the historical Merry Widow mine open pit. Limited exploration work and no drilling has occurred in this area recently identified by Coast Copper as the middle trends where copper and gold anomalies were returned from initial rock and soil sampling.

South of Benson Lake mine -- high-priority target area (200 m by 300 m) Section C-C

One CSAMT line was completed to the south of the past-producing Benson Lake Mine, across a known fault and the Merry Widow creek. The resistivity low appears to be offset by approximately 200 m to the west, indicating that the southerly potential of mineralization may continue to the west. This resistivity low anomaly also appears to correlate with a historical remaining minable resource block identified by Cominco Ltd. in December, 1972, just prior to the mine being closed. One drill hole was completed in this area in 2007 (MW07-51) that encountered skarn bands between 207 to 328 metres down the drill hole and a two-metre massive magnetite band even though it was drilled in a southerly direction and away from the target.

It is important to note that a magnetic anomaly identified by the 2006 airborne geophysical survey continues for a further two km to the south. In the first kilometre, very widely spaced and sometimes abandoned and technically misdirected drilling was completed in 2006 and 2007 (drill holes MW06-25, 26 and 27 and MW 07-52, 53 and 54) and although assay results were not as high-grade as most of the drilling at the Merry Widow deposit, with the value of hindsight and a better understanding of the Old Sport mineralized horizon, they are very technically significant with some of the results highlighted below:

• MW06-25 returned an epidote skarn with pyrrhotite from 261 to 275 m with a one-metre interval of 1.46 g/t Au and 0.44 per cent Cu;
• MW06-27 returning a 20-centimetre semi-massive pyrrhotite interval of 0.14 per cent Cu, 484 parts per million cobalt and 37.5 per cent Fe which is even more significant considering the previous five-metre interval had no recovery;
• MW07-52 returning a 1.62 m intercept of massive magnetite of 0.54 g/t Au, 0.52 per cent Cu and 29.6 per cent Fe, MW07-053 returning a 4.52 m intercept of massive magnetite of 34.12 per cent Fe;
• MW07-54 returning a 14.24 m intercept of 0.12 g/t Au and 0.29 per cent Cu.

When these drill holes were completed to depth they also identified the transition to underlying Karmutsen volcanics and proved that the Old Sport horizon continues for up to a kilometre south of the Benson Lake mine. Now, having a better understanding of the geophysical and geological signatures, Coast Copper will use this data to help vector into areas of higher grade copper and gold associated with the magnetite bodies and the Old Sport horizon.

Exploration implications of CSAMT survey and regional airborne magnetics and similarities to IOCG deposits

Comparisons of geophysical and regional airborne magnetics with known mineralization and fault zones shows a close spatial relationship, suggesting that some of these fault zones may have been feeder zones for the magnetite mineralization which was later overprinted by copper-gold-silver-cobalt mineralization, similar in nature to iron-oxide copper gold deposits (IOCG) like those in Chile and those associated with subduction zones along the west coast of North America.

Based on the success of the CSAMT geophysical survey, further lines are proposed to generate new drill targets on the property.

Association for mineral exploration roundup, Jan. 22 to 25, 2024

Coast Copper is currently at the AME Roundup Conference (booth No. 500) in Vancouver till Jan. 25, 2024, at the Vancouver Convention Center East and will be pleased to provide further information and updates on the company and its projects. In addition, Wyatt Bains, from the B.C. Geological Survey, will be presenting a poster display on "Ore and Alteration Textures from Co-Bearing Iron Skarns: Examples from Vancouver and Texada Islands," which will also highlight some of his preliminary findings on work at the Empire project.

Qualified persons

The technical information contained in this news release has been prepared, reviewed and approved by Wade Barnes, PGeo (B.C.), Coast Copper's geological consultant and a qualified person (QP) within the context of the Canadian Securities Administrators' National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Coast Copper Corp.

Coast Copper's exploration focus is the optioned Empire mine property, located on northern Vancouver Island, British Columbia, which covers three historical open-pit mines and two past-producing underground mines that yielded iron, copper, gold and silver.

We seek Safe Harbor.