Dr. Stephen Twyerould reports

GUNNISON COPPER REPORTS PRELIMINARY RESULTS OF UNIVERSITY OF ARIZONA ECONOMIC IMPACT STUDY HIGHLIGHTING MULTI-BILLION DOLLAR BENEFITS

Gunnison Copper Corp. has released the preliminary results of an independent economic impact study conducted by the Eller Partnerships Office at the University of Arizona, which underscores the transformative economic potential of the company's flagship Gunnison copper project in southern Arizona. All amounts are reported in U.S. dollars unless otherwise noted.

The study employed nationally accepted economic modelling tools to assess the cumulative potential impact of the company's flagship Gunnison project's operations across the national, state and county levels. The report is currently being finalized, with full publication expected to be available soon.

"The University of Arizona's findings support what we have long emphasized -- the Gunnison copper project has the potential to not only be a nationally significant source of made-in-America copper but also a generational economic driver for Arizona and Cochise county," stated Craig Hallworth, senior vice-president and chief financial officer of Gunnison Copper. "The projected multibillion-dollar impact and thousands of jobs over the life-of-mine demonstrate the scale of the opportunity, reinforcing Gunnison's importance to U.S. energy, defence and manufacturing supply chains."

"Eller Partnerships Office was happy to collaborate with Gunnison Copper on this project, building on the strength of the Eller College in economic impact analysis and the university's strategic focus on sustainable mining," said Anastasiya Ghosh, associate dean, partnerships, Eller College of Management.

Key report metrics and findings include:

• Average annual effects (direct):
  • Revenue: $625-million;
  • Employment: 524 jobs;
  • Labour income: $50-million;
• Combined direct, indirect and induced effects (annual):
  • National level: $1.43-billion in output, 2,676 jobs and $209-million in labour income;
  • Arizona: $978-million in output, 1,739 jobs and $129-million in labour income;
  • District 6, including Cochise county: $880-million in output, 765 jobs and $64-million in labour income;
• Cumulative life-of-mine impacts:
  • United States: $14.6-billion in output, 53,521 job-years and $2.07-billion in labour income;
  • Arizona: $10.01-billion in output, 34,783 job-years and $1.28-billion in labour income;
  • District 6, including Cochise county: $9.02-billion in output, 15,308 job-years and $633 million in labour income.

All amounts from the study represent the forecasted economic impact of the Gunnison project in the state of Arizona and nationally in the United States. They do not represent an economic analysis of the Gunnison project itself and actual economic impact will be determined after the Gunnison project is developed into an operating mine, which remains subject to completion of a feasibility study, financing and permitting.

The company also announces that it has received an initial conversion notice from Nebari Natural Resources Credit Fund I LP pursuant to the terms of the second amended and restated credit agreement. See the company's press release dated April 24, 2025, for further details of the second ARCA. The conversion benefits the company as it reduces the principal amount of the second ARCA. With a full conversion of the convertible principal amount by Nebari, and the intention to use the proceeds to be received from sale of the previously announced 48C tax credits to repay the non-convertible portion of the second ARCA, the second ARCA could be repaid in full.

The initial conversion is for $500,000 (U.S.) at the conversion price of 20.97 U.S. cents (converted from 30 Canadian cents), resulting in the issuance of 2,384,358 common shares. Nebari has advised that it is converting for the purpose of sale and may convert further amounts. Nebari has agreed to orderly resale restrictions for any sales made through the Toronto Stock Exchange, such that such sales shall not exceed 10 per cent of the daily trading volume on the TSX unless such sale price is not less than a 5-per-cent discount to the closing price per common share on the previous trading day, provided that, within any 120-day period, the cumulative discount of the sale price as it relates to the closing price on the day prior to the lender's first sale in such 120-day period shall not exceed 25 per cent.

About Gunnison Copper Corp.

Gunnison Copper 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.

Its flagship asset, the Gunnison copper project, has a measured and indicated mineral resource containing over 831.6 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 (PEA) 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 an SX/EW (solvent extraction/electrowinning) refinery to produce finished copper cathode on site with 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 now in production, 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, a fellow of AusIMM, president and chief executive officer of the company, is a qualified person as defined by National Instrument 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this news release.

We seek Safe Harbor.