Mr. Marcel de Groot reports

COPPER STANDARD ANNOUNCES COMMENCEMENT OF DRILLING AT COLPAYOC PROJECT

Copper Standard Resources Inc. has commenced drilling at its flagship Colpayoc project in the Yanacocha mining district in Cajamarca, Peru.

The company has started phase I of a two-phase drill program. Phase I is expected to include approximately 16,400 feet (5,000 metres) of drilling over 18 drill holes to test the potential large copper/gold porphyry and expand the existing resource. The company anticipates completion of the phase I drill program by mid-2024. Phase II is to be based upon phase I results. The company's proposed drill program stems from the expansion of geologic knowledge and understanding of the deposit attained through the relogging of historical drill core and complementary detailed fieldwork.

During detailed geologic reviews, the company identified a potential porphyry copper/gold target underlying the previously drilled oxide gold cap. The gold cap contains over 300,000 ounces of an inferred gold resource and remains open both laterally and at depth. Average drill hole depth will be approximately 655 feet (200 metres) where drilling is designed to confirm and expand the current oxide gold resource. At least two drill holes are expected to reach depths of approximately 1,300 feet (400 metres) to test for the enriched copper and copper-gold primary grades in the untested porphyry system underlying the Daylight oxide gold resource.

These programs are fully financed for 2024 with the completion of the company's recently oversubscribed $5-million private placement.

Andy Swarthout, chairman, commented: "Two thousand twenty-four represents a significant opportunity for Copper Standard, and we look forward to expanding our gold resource as we test the extent of the underlying porphyry system. Previous drilling ended in phyllic alteration with anomalous gold and copper, indicating potential proximity to a porphyry copper/gold system. Phase I drilling will not only establish the potential of the oxide gold mineralization at depth but will provide important guidance for expanded exploration of the underlying porphyry system in phase II drilling."

The National Instrument 43-101 technical report on the Colpayoc project can be found on the Copper Standard website at or on SEDAR+.

Qualified person

Mr. Swarthout, chairman, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical content in this news release.

About Copper Standard Resources Inc.

Copper Standard is a resource-stage mining company with a focus on copper and gold, with an option to acquire 100 per cent of the Colpayoc project in Peru. Colpayoc has significant, untested potential for supergene and porphyry copper-gold mineralization at depth, beneath drill holes bottoming in oxide gold-copper mineralization. The Colpayoc project is largely untested with limited drilling and is similar to many of the world-class porphyry copper-gold deposits within the prolific Yanacocha district. Copper Standard continues to evaluate opportunities in the mineral sector on a continuing basis.

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