Mr. John Timmons reports

COPPER ROAD IDENTIFIES PRIORITY JR ZONE TARGETS FOR UPCOMING DRILL PROGRAM AT ITS PROJECT IN BATCHEWANA BAY, ONTARIO

Copper Road Resources Inc. has provided an update on the proposed 2023 drill program at the highly prospective JR zone at its Copper Road project in Batchewana Bay, Ontario.

The company plans to test the following priority targets at the JR zone:

• J-P-23-01: The hole will test the Jogran porphyry at depth proximal to historical diamond drill holes from 1964 -- JDH-13 (five metres to 152 metres: 147 metres of 0.27 per cent copper and 0.068 per cent molybdenum disulphide (0.55 per cent copper equivalent)) and JDH-16 (five to 170 metres: 165 metres of 0.23 per cent copper and 0.054 per cent molybdenum disulphide (0.44 per cent copper equivalent)), neither of which were assayed for potential byproduct metals (for example: gold, silver, rhenium and tungsten). The hole will be designed to test the porphyry mineralization to a vertical depth of 400 metres, which is approximately twice the extent of known mineralization.
• J-P-23-02: The hole will test an area of mid-grade copper mineralization in historical diamond drill hole JDH-07, which intercepted 14.6 metres of 0.50 per cent copper from 126.8 to 141.4 metres (11.5 metres of 0.34 per cent copper from 184 to 195 metres) and bottomed in quartz stringers with clusters of chalcopyrite and bornite at 197 metres. According to historical drill logs, chalcopyrite was evident in 74 per cent of the core, yet only 232 feet (35 per cent) of the core was sampled in 1964.
• R-P-23-01: The hole will test the extension of the historic high-grade intercepts in the Richards breccia by stepping out approximately 50 metres to the west of AR97-07 (27 metres of 1.46 per cent copper, 0.17 gram per tonne gold and 3.8 grams per tonne silver) at a vertical depth of approximately 50 metres. The company interprets the high-grade mineralization to follow the perimeter of the breccia pipe similar to the Breton breccia -- the Tribag mine zone. This is supported by the semi-circular geometry of the gradient IP (induced polarization) anomaly associated with the Richards breccia.

Note: Assumptions used in U.S. dollars for the copper equivalent calculation were metal prices of $3.87 per pound copper and $56.57 per kilogram molybdenum, and recovery is assumed to be 100 per cent as no metallurgical test data are available. The following equation was used to calculate copper equivalence: copper equivalent equals copper (per cent) plus (molybdenum (per cent) multiplied by 6.624122) (molybdenum per cent equals molybdenum disulphide multiplied by 0.6).

Additional holes have been designed to follow up JR zone targets laterally and at depth based on the visual results of the proposed holes listed herein as well as to test two new targets -- the J2 Roof zone MMI (mobile metal ion) anomaly at Jogran and the Richards northwest target, a potentially larger (150 metres by 250 metres) and more intense chargeability and resistivity anomaly similar to the Richards breccia anomaly.

Copper Road Resources president and chief executive officer John Timmons commented: "The JR zone contains lengthy intersections of near-surface breccia and porphyry-hosted mineralization that are untested at depth and untested for byproduct minerals. Confirmatory MMI lines and historical geophysics demonstrate the potential for a larger zone of mineralization at the Jogran porphyry and additional larger breccia targets to the northwest and to the south of the Richards breccia. We are confident that our proposed summer exploration program will demonstrate the potential of the JR zone to host a large-tonnage, near-surface copper deposit containing a suite of byproduct minerals."

JR zone -- historical exploration and recent work

Historical exploration at the Richards breccia and Jogran porphyry was conducted by Jogran Mines (1964), Phelps Dodge (1966), Duration Mines (1988), Noranda (1992) and Aurogin Resources (1997 to 1998). The drilling encountered broad, near-surface intersections of copper mineralization that are untested below 150 metres to 175 metres and have not been additionally drill tested since 1964 (Jogran) or 1998 (Richards). It is also important to note that many of the historical holes were not completely assayed, nor were most holes assayed for possible byproduct credits such as gold, silver, tungsten or rhenium.

Jogran porphyry 1964 diamond drill holes:

• JDH-13 -- from five to 152 metres: 147 metres of 0.27 per cent copper and 0.068 per cent molybdenum disulphide (0.55 per cent copper equivalent);
• JDH-16 -- from five to 170 metres: 165 metres of 0.23 per cent copper and 0.054 per cent molybdenum disulphide (0.44 per cent copper equivalent).

Richards breccia 1997 to 1998 diamond drill holes:

• AR98-07 -- from 36 to 63 metres: 27 metres of 1.46 per cent copper, 0.17 gram per tonne gold and 3.8 grams per tonne silver;
• AR97-25 -- from 42.5 to 83 metres: 40 metres of 0.86 per cent copper, 0.06 gram per tonne gold and 3.5 grams per tonne silver.

Non-brokered private placement

The company has arranged a non-brokered private placement for gross proceeds of up to $400,000 from the sale of any combination of units of the company and flow-through units of the company, each at a price of seven cents per unit and flow-through unit.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each flow-through unit will consist of one common share of the company to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of 15 cents for a period of 36 months following the closing date of the offering.

The company intends to use the proceeds of the offering for the exploration of the company's Copper Road project and for general working capital purposes. The gross proceeds from the issuance of the flow-through shares will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)), which will be renounced with an effective date no later than Dec. 31, 2023, to the purchasers of the flow-through units in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each subscriber of flow-through units for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures.

The closing of the offering is expected to occur on or about July 5, 2023, and is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange. Finders' fees on the sale of the units and flow-through units may be payable in accordance with the policies of the TSX-V.

Qualified person

Augusto Flores IV, PGeo, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

About Copper Road Resources Inc.

Copper Road Resources is a Canadian-based explorer engaged in the acquisition, exploration and evaluation of properties for the mining of precious metals and base metals. The company is exploring for large copper/gold deposits on the 21,000-hectare Batchewana Bay project, 80 kilometres north of Sault Ste. Marie, Ont., Canada.

We seek Safe Harbor.