Dr. Stephen Twyerould reports

GUNNISON COPPER ELIMINATES NEBARI DEBT AND ACHIEVES MAJOR BALANCE SHEET MILESTONE

Gunnison Copper Corp. has fully eliminated all outstanding principal owed to Nebari Natural Resources Credit Fund I LP, marking a significant milestone in the company's transformation of its balance sheet.

In total, Gunnison has reduced the principal amount of the Nebari debt from $15-million (U.S.) to zero, achieving its stated objective of removing legacy secured debt and materially strengthening the company's financial position. This achievement is consistent with Gunnison's broader strategy to maintain an equity-based capital structure until the construction of its flagship Gunnison project.

The debt was finally eliminated when the company received additional conversion notices from Nebari pursuant to the terms of the second amended and restated credit agreement. The latest conversions total $4.75-million (U.S.) at a conversion price of 20.97 U.S. cents per share (converted from 30 cents), resulting in the issuance of 22,651,407 common shares.

"The repayment of the Nebari debt is a major milestone for Gunnison," said Craig Hallworth, senior vice-president and chief financial officer of Gunnison Copper. "Through disciplined execution, delivery on key milestones and strategic conversions, we have removed all legacy secured debt from our capital structure. This significantly strengthens our balance sheet and positions Gunnison with enhanced financial flexibility as we continue to execute on major milestones in the advancement of our large-scale flagship Gunnison project. As a pure play copper company, we are proud to be advancing new large-scale copper production on U.S. soil as demand continues to grow from national defence, infrastructure and AI [artificial intelligence] data centres."

Andre Krol of Nebari commented: "Nebari's debt conversions are testament to the company's strengthening progress under highly capable management. We are proud to have been part of that journey."

Combined with Gunnison's previously announced $7.3-million (U.S.) repayment of Nebari's non-convertible debt and Nebari's accumulated conversions of the remaining convertible principal, all principal amounts outstanding under the second amended and restated credit agreement have now been fully repaid or converted. Gunnison shall repay the partial month of interest owing and is working with Nebari to obtain a release of the security documents associated with the debt.

Gunnison remains focused on operational execution, balance sheet strength and delivering long-term value as it supports domestic copper supply and U.S. critical minerals objectives.

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 a payback period of 4.1 years. It is being developed as a conventional operation with open-pit mining, heap leach, and a solvent extraction/electrowinning (SX/EW) 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.

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