Dr. Stephen Twyerould reports

GUNNISON COPPER ANNOUNCES CLOSING OF THE LISTED ISSUER FINANCING EXEMPTION (LIFE) PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$8.647 MILLION

Gunnison Copper Corp. has closed its previously announced non-brokered private placement for gross proceeds of $8,647,230 from the sale of 28,874,100 units of the company at a price of 30 cents per unit. Red Cloud Securities Inc. acted as a finder in connection with the offering.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 45 cents at any time on or before July 18, 2028.

The company intends to use the net proceeds from the offering to finance additional and follow-on work related to the high-value-add work program at the Gunnison copper project, begin long-lead-time drilling and metallurgical testing that will be incorporated in a prefeasibility study for the Gunnison copper project, as well as finance U.S. head office general and administrative expenses for an additional 12 months (April, 2026, to March, 2027). U.S. head office G&A for the next nine months to March, 2026, will be financed from existing working capital.

The units were sold to purchasers resident in Canada pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions), as amended by co-ordinated blanket order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The securities issuable pursuant to the sale of the units to purchasers resident in Canada are immediately freely tradable under applicable Canadian securities legislation. The units were also sold to purchasers in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended.

As consideration for their services in connection with the offering, Red Cloud and other finders received a total cash commission of $512,875.80 and were issued 1,709,586 non-transferable warrants of the company. Each finder's warrant entitles the holder thereof to purchase one common share at a price of 45 cents at any time on or before July 18, 2028. The finders' warrants are subject to a statutory hold period that expires on Nov. 19, 2025.

About Gunnison Copper Corp.

Gunnison is a multiasset pure play copper developer and producer that controls the Cochise mining district, containing 12 known deposits within an eight-kilometre economic radius in the southern Arizona copper belt.

Gunnison exists to develop and operate copper mines in southern Arizona to produce fully made in America finished copper cathode to directly supply American energy, defence and manufacturing supply chains. Gunnison proudly hires locally, purchases locally and sells its products for use in America. Gunnison invests in its employees, their families and the communities around it. Gunnison operates safely and responsibly with a focus on technology and positive societal impact, while also emphasizing long-term value creation for stakeholders.

Its flagship asset, the Gunnison copper project, has a measured and indicated mineral resource containing over 831 million tons with a total copper grade of 0.31 per cent (measured mineral resource of 191.3 million tons at 0.37 per cent and indicated mineral resource of 640.2 million tons at 0.29 per cent), and a preliminary economic assessment yielding robust economics including a net present value discounted at 8 per cent of $1.3-billion, an internal rate of return of 20.9 per cent and payback period of 4.1 years. It is being developed as a conventional operation with open-pit mining, heap leach and solvent extraction and electrowinning refinery to produce finished copper cathode on site with a direct rail link.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

In addition, Gunnison's Johnson Camp asset, which is under construction with first copper production expected in third quarter 2025, is fully financed by Nuton LLC, a Rio Tinto venture, with a production capacity of up to 25 million pounds of finished copper cathode annually.

Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison project infrastructure, include Strong and Harris, South Star, and eight other deposits.

For additional information on the Gunnison project, including the PEA and mineral resource estimate, please refer to the company's technical report entitled "Gunnison Project NI 43-101 Technical Report Preliminary Economic Assessment" dated effective Nov. 1, 2024, and available on SEDAR+.

Dr. Stephen Twyerould, fellow of AusIMM, president and chief executive officer of the company, is a qualified person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and is responsible for the technical information contained in this news release.

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