Ms. Melissa Mackie reports

GUNNISON COPPER ANNOUNCES MEMBERSHIP IN THE U.S. DEPARTMENT OF WAR SPONSORED DEFENSE INDUSTRIAL BASE CONSORTIUM (DIBC), EXPANDING ACCESS TO U.S. FUNDING AND STRATEGIC OPPORTUNITIES

Gunnison Copper Corp. has become a member in the Defense Industrial Base Consortium (DIBC), a U.S. Department of War initiative focused on strengthening and scaling the United States' defence industrial base.

DIBC's mission is to accelerate the development of resilient domestic supply chains for technology and critical minerals essential to national security, while enabling funding, co-ordination and rapid development of industrial capacity. Gunnison's membership in the DIBC reflects its role as a United States-based, execution-focused copper producer and developer capable of rapidly delivering large-scale, made-in-America refined copper supply to the defense sector.

Membership in DIBC provides Gunnison with access to potential non-dilutive funding opportunities, strategic partnerships and programs aimed at accelerating the development of U.S.-based critical mineral supply.

"Membership in the DIBC marks an important milestone for Gunnison as we continue to position ourselves as a reliable, scalable, domestic source of copper for U.S. defence and manufacturing supply chains," said Craig Hallworth, senior vice-president and chief financial officer of Gunnison Copper. "Our ability to rapidly deliver new production, combined with the significant scale of our development pipeline, positions Gunnison to benefit from potential government-backed funding and to accelerate development of our projects while supporting critical U.S. supply chains."

Gunnison distinguishes itself through its demonstrated ability to rapidly develop and bring copper production online in the United States. In 2025, the company successfully restarted its Johnson Camp mine, from construction decision to first copper production, in under 18 months, significantly faster than the typical seven- to 10-year timeline for comparable U.S. projects. The project was supported by the U.S. Department of Energy through an award of $13.9-million in Section 48C tax credits, underscoring Gunnison's alignment with federal priorities and its ability to execute on government-supported initiatives.

Gunnison is also advancing its flagship Gunnison copper project in Arizona, which is expected to deliver up to 174 million pounds of copper annually, representing a nationally significant contribution to domestic refined copper supply. This level of production could support defence manufacturing at unprecedented volumes, including billions of ammunition components annually, critical inputs for electrical systems and power infrastructure, and materials essential for advanced defense platforms, including drones and communications systems.

Copper is essential to modern defense systems. As geopolitical pressures continue to highlight vulnerabilities in global supply chains, securing a stable, domestic source of copper has become increasingly important to ensure sustained defense readiness.

The receipt of the 48C tax credit is subject to the final requirements as outlined in IRS Notice 2023-44. The actual amount of tax credits received will be determined at the conclusion of the process and are subject to an allocation agreed to with Nuton LLC under a tax partnership agreement.

About Gunnison Copper Corp.

Gunnison Copper is a multiasset pure-play copper developer and producer that controls the Cochise mining district (the 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 846.1 million tons with a total copper grade of 0.33 per cent (measured mineral resource of 191.5 million tons at 0.37 per cent and indicated mineral resource of 654.5 million tons at 0.31 per cent), and a preliminary economic assessment (PEA) yielding robust economics including an NPV (net present value) 8 per cent of $2-billion, IRR (internal rate of return) of 23 per cent and payback period of 3.9 years. It is being developed as a conventional operation with open pit mining, heap leach and 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 South Star and eight other deposits.

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