Mr. Ivan Bebek reports

COPPERNICO AMENDS OPTION AGREEMENT AT SOMBRERO TO ADVANCE DRILL PERMITS

Through Coppernico Metals Inc.'s wholly owned Peruvian subsidiary, Sombrero Minerales SAC, the company has amended agreements in relation to its existing option with Aceros Arequipa S.A., which includes three key concessions covering Nioc and Fierrazo, two cornerstone targets in the unfolding district-scale copper-gold Sombrero project in Peru.

Key highlights of the amendments

• The term of the Aceros option has been extended, providing the company until Dec. 13, 2029, to complete the remaining work expenditures required under the first phase of the agreement.
• The amendments give the company the opportunity to now fully explore and, importantly, once permitted, drill the Fierrazo target.
  • Historical drilling at Fierrazo returned values including 116 metres (m) of 0.42 per cent copper (Cu) and 0.24 gram per tonne gold (Au), 90.4 m of 0.48 per cent Cu and 0.05 g/t Au, and 51 m of 0.43 per cent Cu and 0.16 g/t Au (Table 1 -- see news release dated June 13, 2019, issued by predecessor Auryn Resources, now Fury Gold Mines, for related technical disclosures).
• The company has assumed responsibility for rehabilitating historical and future environmental disturbances at Fierrazo, with a reclamation plan under way.

With the amendments in place, the company plans to initiate surface exploration at Fierrazo and continues to advance permits for drilling with the imminent filing of its environmental impact assessment -- semi-detailed (EIA-sd) permit application.

Ivan Bebek, chair and chief executive officer of Coppernico, commented: "We are pleased to have amended our option agreement with Aceros, reflecting the collaborative nature of the relationship. This amendment is an important step toward securing drill permits for our Fierrazo target, which we are advancing.

"Engaging with local communities and stakeholders has been a top priority for the Sombrero project since its inception and will remain so moving forward, together with the commitment to a safe working environment and job creation. We believe that Sombrero has the potential to become a premier copper exploration district, given the scale of the numerous targets we are identifying and geological data being collected. This conviction complements our efforts to develop impactful agricultural programs in the region, with active participation from local communities and support from the government.

"We appreciate Aceros's collaboration on this amendment, which will help us advance the project more efficiently. Further updates on permit progress, exploration results and new claims in the region will follow in the near future."

Environmental rehabilitation efforts

As part of the amendments, the company has agreed to assume responsibility to rehabilitate both the historical and future environmental disturbance on the Fierrazo concession. The reclamation work is to be undertaken in the event that additional economic mineralization is not encountered and therefore the permit, and any environmental disturbance, would require closure. The company is currently working with Peruvian environmental authorities to establish a plan for the reclamation which will determine the estimated future cost of the work.

About Fierrazo

Fierrazo is a copper-gold skarn target located on the northeast side of the Ccascabamba area within Coppernico's Sombrero project. The target was first recognized through erosional windows that exposed skarn and porphyry-style mineralization, supporting the broader exploration concept that the Andahuaylas-Yauri belt continues beneath volcanic cover at Sombrero. Fierrazo was originally explored by Aceros, Peru's largest steel producer, who completed eight drill holes in 2013, totalling 988 metres, primarily targeting iron skarn mineralization. In 2019, the company's predecessor, Auryn Resources (now Fury Gold Mines), resampled the historical drill core, which confirmed significant copper and gold values associated with massive magnetite skarn (see Auryn Resources news release dated June 13, 2019). Subsequent exploration work included mapping, geochemistry and geophysics.

Historical drilling intersected long intervals of mineralization, including 116 m of 0.42 per cent Cu and 0.24 g/t Au, 90.4 m of 0.48 per cent Cu and 0.05 g/t Au, and 51 m of 0.43 per cent Cu and 0.16 g/t Au (Table 1 -- see Auryn Resources news release dated June 13, 2019). Collectively, these results define a mineralized body with an initial strike length of 300 metres and yet to be defined thickness, with both strike and dip extents remaining open. A phase 2 drill program, designed to expand and define the mineralized footprint, is contingent upon obtaining expanded drill permits which will incorporate the Fierrazo target.

Tim Kingsley, vice-president of exploration, commented: "These amendments significantly strengthen our long-term position at Sombrero by expanding exploration opportunities at Fierrazo, while ensuring responsible stewardship through pro-active environmental commitments. Fierrazo has long been considered one of the most compelling drill targets within the Sombrero project, with a broad zone of high-grade copper-gold magnetite skarn mineralization exposed at surface and strong indications of vertical continuity that remain open at depth.

"Fierrazo shares many geological similarities with the nearby Nioc target area, where recent channel sampling confirmed additional mineralized magnetite skarn systems. The scale, geometry and grade potential at both targets reinforce the district-scale opportunity unfolding across Sombrero."

Technical disclosure and qualified person

The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, MSc, CPG, Coppernico's vice-president of exploration, who is a qualified person (as defined in National Instrument 43-101).

About Coppernico Metals Inc.

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration, in pursuit of the discovery of premier copper-gold deposits in the Americas. The company's management and technical teams have a successful record of raising capital, discovery and the monetization of exploration successes. The company's objective is to become a leading advanced copper and gold explorer, and through its wholly owned private Peruvian subsidiary Sombrero Minerales SAC, is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition.

The Sombrero project is a land package of approximately 53,800 hectares (538 square kilometres) located in the northwestern margins of the world-renowned Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems and precious metal epithermal systems. The company's NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero project.

Coppernico Metals is currently listed on the Toronto Stock Exchange under the symbol COPR, trades on the OTCQB Venture Market under symbol CPPMF and is quoted over the counter by certain dealers in the unofficial market of the Frankfurt Stock Exchange under the symbol 9I3.

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