Mr. Terry MacDonald reports

COPPER LAKE RESOURCES LTD. CORPORATE UPDATE

Copper Lake Resources Ltd. will be seeking shareholder approval at the coming annual general and special meeting of shareholders, to be held on June 12, 2025, for a consolidation of its issued and outstanding common shares (see the management information circular dated May 12, 2025, on SEDAR+ for more information).

The shareholder resolution, if approved, will allow the board of directors to implement a share consolidation, if deemed appropriate, within the following 12 months at a ratio of to be determined by the board of directors, up to a maximum consolidation of 1:20. The board of directors of the company believes that a consolidation of the shares would both enhance the marketability of the company and better position the company to raise funds necessary to execute the company's business plan. The proposed consolidation is subject to approval by the TSX Venture Exchange.

The company does not intend to change its name or its current trading symbol in connection with the proposed consolidation. The effective date of the proposed consolidation will be announced in a subsequent news release.

The exercise price and number of shares of the company, issuable upon the exercise of outstanding options and warrants, will be proportionally adjusted upon the implementation of the proposed consolidation in accordance with the announced terms thereof.

Share issuance

The company also announces that it has agreed to issue 250,000 common shares of the company to Aroland First Nation and 250,000 common shares of the company to Animbiigoo Zaagi'igan Anishinaabek First Nation pursuant to the terms of the exploration agreement announced on Feb. 27, 2025, in respect of the Marshall Lake property. Each of the foregoing issuances of common shares is subject to TSX-V approval, and the shares will be subject to a four-month hold period.

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 (volcanogenic massive sulphide) 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 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 eastern side of the Marshall Lake property where historical 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 Aroland First Nation and Animbiigoo Zaagi'igan Anishinaabek (AZA) First Nation.

Copper Lake has a 69.79-per-cent joint venture interest in the Norton Lake nickel, copper, cobalt and palladium PGM (platinum 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 in October, 2023, with a mineral resource of open-pit and underground measured-plus-indicated resources of 1,795,000 tonnes at an average grade of 0.72 per cent nickel, 0.69 per cent copper, 339 parts per million cobalt, 0.52 gram per tonne palladium, 0.17 gram per tonne platinum and containing 28.3 million pounds of nickel and 27.3 million pounds of copper. The Norton Lake property is located in the traditional territories of Eabametoong (Fort Hope) First Nation and Neskantaga First Nation.