Mr. Peter Hawley reports

FABLED COPPER ENTERS INTO DEFINITIVE AGREEMENTS TO ACQUIRE OHM PROPERTY AND VOLT 1 PROPERTY

Fabled Copper Corp., further to its press releases dated March 22, 2023, and March 23, 2023, has entered into definitive option agreements to acquire the OHM and Volt 1 lithium properties located in Quebec. The agreements each have a closing date of June 28, 2023.

Peter Hawley, president and chief executive officer, comments, "Once the Northern Quebec fire restrictions are lifted, the company's field teams will begin a first pass, mapping, prosecting and sampling on the OHM and Volt 1 and 2 properties to set the ground work for a more comprehensive exploration program to concentrate on the areas and lithium-bearing pegmatites outlined in phase 1."

OHM property

The OHM property consists of 51 contiguous cells comprising of 2,856 hectares located approximately 70 kilometres south of Val d'Or. The OHM property can be easily accessed from the main highway, Route 117, and forestry roads 43 and 44.

A minimum of at least 10 pegmatite outcrops have been documented by the vendors. No documented work has been done in the search for lithium within the pegmatite swarms.

Terms of the OHM agreement

Under the terms of the option agreement to acquire the OHM property, Fabled may exercise the option and acquire the OHM property by paying to the vendors:

• Cash as shown in the associated table;

• Common shares of the company as shown in the associated table;

• Fabled must also incur cumulative exploration expenses on the OHM property by the dates shown in the associated table.

Fabled will also grant the OHM vendors a 3-per-cent NSR (net smelter return) royalty over the OHM property. Fabled may purchase 2 per cent of the NSR royalty at any time for $2-million.

Volt 1 and 2 properties

Fabled previously entered into a purchase agreement with arm's-length vendors on March 21, 2023, to acquire two separate contiguous lithium claims (the Volt 2 property) for a total one-time payment of $1,000. The Volt 2 property is approximately two kilometres due west of the Volt 1 property.

The Volt 1 property is composed of nine contiguous cells with a total size of 504 hectares. The Volt 2 property is composed of two contiguous cells with a total size of 112 hectares. Both properties are located due east of the village of Miquelon, Que., and are surrounded by Mosaic Minerals Corp.'s Lithium SM project.

Numerous lithium anomalies directly associated with pegmatites currently suggest a favourable horizon to be explored and tested.

The development of several logging roads over the past few years allows for site access.

Terms of the Volt 1 agreement

Under the terms of the option agreement to acquire the Volt 1 property, Fabled may exercise the option and acquire the Volt 1 property by paying to the vendors:

• Cash as shown in the associated table;

• Common shares of the company as shown in the associated table;

• Fabled must also incur cumulative exploration expenses on the Volt 1 property by the dates shown in the associated table.

Fabled will also grant the Volt 1 vendors a 3-per-cent NSR royalty over the Volt 1 property. Fabled may purchase 2 per cent of the NSR royalty at any time for $2-million.

About Fabled Copper Corp.

Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill-ready copper properties located in Northern British Columbia. The company's current property package consists of the Muskwa project and the Bronson property, and comprises approximately 16,219 hectares in three non-contiguous blocks, located in the Liard mining division of British Columbia.

The company is seeking to broaden and diversify its portfolio. The company has acquired the Volt 2 lithium property, located in Miquelon, Que., and has options to acquire the OHM property, located in Val d'Or, Que., and the Volt 1 property, located in Miquelon, Que. The company is also seeking to add an additional high-grade gold and silver property, the TJ Ridge property in British Columbia, for which it has entered into a letter of intent.

We seek Safe Harbor.