Mr. Brian Bosse reports

CUPANI METALS CLOSES 2nd TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR PROCEEDS OF $716,250.03

Cupani Metals Corp. has closed a second tranche of the previously announced non-brokered private placement financing for aggregate gross proceeds of $716,250.03 composed of the issuance of 617,143 flow-through units of the company at 17.5 cents per FT unit and 4,866,000 hard-cash units at 12.5 cents per HC unit.

Each FT unit consisted of one common share and one-half of one common share purchase warrant of the company, with each whole FT unit warrant being exercisable at a price of 30 cents per common share at any time prior to the day that is 24 months from the date of issuance thereof, subject to the terms and provisions of an acceleration clause. The FT shares comprising the FT units will qualify as flow-through shares for purposes of the Income Tax Act (Canada). Each HC unit consisted of one common share of the company and one full common share purchase warrant, each HC unit warrant exercisable at 25 cents at any time prior to the day that is 24 months from the date of issuance thereof, subject to the terms and provisions of an acceleration clause.

The gross proceeds from the offering will be used by the company on its 100-per-cent-owned Blue Lake/Retty Lake exploration project exploration project, as well as for general working capital purposes. The gross proceeds from the common shares comprising the FT units will be used by the company for Canadian exploration expenses that are flow-through critical mineral mining expenditures (as such terms are defined in the tax act).

The offered units were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued pursuant to the offering are subject to resale restrictions, including a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

In connection with the second tranche of the offering, the company paid aggregate cash finders' fees of $4,812.50, issued 200,000 compensation HC units at a price of 12.5 cents per HC units and issued 12,500 finders' warrants having the same terms as the HC unit warrants (exercisable at 25 cents for 24 months subject to acceleration) to certain finders. The company also wishes to update finder fee information disclosed in its press release dated Dec. 15, 2025, and Dec. 16, 2025. In connection with the closing of the first tranche of the offering, the company issued an aggregate of 11,621,281 FT units for gross proceeds of $2,033,724.18. In addition, with respect to the HC units referenced in the prior press releases, the company clarifies that it issued 528,000 HC units at a price of 12.5 cents per HC unit to certain finders and paid aggregate cash finder fees of $3,775 to certain finders.

About Cupani Metals Corp.

Cupani provides shareholders with long-term capital growth exposure by investing in mineral exploration properties and other assets. The company is listed on the Canadian Securities Exchange under the symbol CUPA.

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