Mr. Terry MacDonald reports

COPPER LAKE SIGNS EXPLORATION AGREEMENTS WITH AROLAND AND ANIMBIIGOO ZAAGI'IGAN ANISHINAABEK FIRST NATIONS FOR ITS MARSHALL LAKE COPPER-ZINC-SILVER-GOLD VMS PROPERTY

Copper Lake Resources Ltd. has signed exploration agreements with Aroland and Animbiigoo Zaagi'igan Anishinaabek (AZA) first nations, outlining a framework for collaboration on the exploration program for the Marshall Lake copper-zinc-silver-gold VMS (volcanic massive sulphide) property.

Copper Lake recognizes the significance of the affected lands to the first nations. As part of the exploration agreements, the first nations have provided their consent for the company's exploration activities. The exploration agreements contain measures to accommodate, compensate, prevent, mitigate and address concerns, including impacts to indigenous rights, cultural values and the environment, in relation to Copper Lake's exploration programs.

Copper Lakes's chief executive officer, Terry MacDonald, CPA, CA, commented: "These agreements solidify our mutually beneficial working relationship with the communities in whose traditional territories we are advancing our exploration efforts. As part of Copper Lake's commitment to work collaboratively and respectfully with all indigenous peoples, we are aligned with their commitment to protect and enhance the resource-based economy in their traditional territories. These exploration agreements come in a very timely manner, as we have just been granted new exploration permits and plan to expand the exploration work in areas of the property where previous drilling has identified several zones yielding significant copper-zinc-silver intercepts in historical diamond drilling. These areas include the Teck Hill-Gazooma and Gazooma North-RM-Lease target areas. Such target areas have returned shallow drill intercepts of 2.05 per cent copper, 33 grams per tonne silver and 0.31 g/t gold over 26.9 metres, as well as 1.38 per cent copper, 54.0 g/t silver and 0.10 g/t gold over 43.0 metres, respectively. Drilling at all of these occurrences has been very shallow, largely within 150 metres from surface."

Appointment of chief financial officer

The company announces that David McDonald has resigned as CFO of the company in order to pursue other activities. Paul Mcgroary has been appointed as CFO in the interim. Mr. Mcgroary is a director of the company and was the CFO prior to the appointment of Mr. McDonald in 2022.

The company wishes to thank Mr. McDonald for his service over the past two years.

Qualified person

Donald Hoy, MSc, PGeo, Copper Lake's vice-president of exploration, is the qualified person responsible for the technical content contained in this news release.

About Copper Lake Resources Ltd.

Copper Lake Resources is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario.

The Marshall Lake high-grade VMS copper, zinc, silver and gold project comprises an area of approximately 220 square kilometres, located 120 kilometres north of Geraldton, Ont., and is just 22 kilometres north of the main Canadian National Railway (CNR) rail line. Copper Lake has an 82.97-per-cent interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100 per cent owned and not subject to any royalties. These newer claims add approximately 30 square kilometres to the property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100 per cent owned by the company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of four square kilometres on the east side of the Marshall Lake property, where historical EM (electromagnetic) airborne geophysical surveys have outlined strong conductors on the property hosted within the same favourable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square kilometres, is accessible year-round and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of AZA first nations.

Copper Lake has a 69.79-per-cent joint venture interest in the Norton Lake nickel, copper, cobalt and palladium PGM (platinium group metal) property, located in the southern Ring of Fire area, approximately 100 kilometres north of the Marshall Lake property. The company filed an updated National Instrument 43-101 report in October, 2023, with a mineral resource of open-pit and underground measured and indicated resources of 1,795,000 tonnes at an average grade of 0.72 per cent nickel (Ni), 0.69 per cent copper (Cu), 339 parts per million (ppm) cobalt (Co), 0.52 g/t palladium (Pd) and 0.17 g/t platinum (Pt), and containing 28.3 million pounds (lb) of nickel and 27.3 million lb of copper. The Norton Lake property is located in the traditional territories of Eabametoong (Fort Hope) and Neskantaga first nations.