Mr. Tim Johnson reports

GRANITE CREEK COPPER ANNOUNCES $1,600,000 PRIVATE PLACEMENT FINANCING

Granite Creek Copper Ltd. has arranged a non-brokered private placement of up to 37.5 million units at a price of four cents per unit for gross proceeds of up to $1.5-million.

Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share of the company at a price of seven cents for a term of 24 months from the closing date of the offering.

The net proceeds from the financing will be used for general corporate purposes as well as the identification and advancement of strategic initiatives under review by the company.

President and chief executive officer Tim Johnson stated: "Granite Creek has been actively reviewing several North American base and precious metals opportunities and, with recent strength returning to the market, recognizes this is an excellent time to make key additions to the company's critical minerals portfolio."

Closing of the offering is anticipated to occur on or about March 20, 2024, and is subject to customary closing conditions, including approval of the TSX Venture Exchange. The company has engaged Agentis Capital Mining Partners as financial adviser in connection with its review of its strategic initiatives. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day from the closing date.

The offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, as insiders of the company may subscribe for common share units in the offering. The company relied on the exemptions in Section 5.5(b) -- Issuer Not Listed on Specified Markets from the formal valuation requirements of MI 61-101 and relied on the exemption in Section 5.7(1)(a) -- Fair Market Value Not More Than 25 Per Cent of Market Capitalization from the minority shareholder approval requirements of MI 61-101. The company did not file a material change report at least 21 days before the expected closing date of the offering, as the aforementioned insider participation had not been confirmed at that time and the company wished to close the offering as expeditiously as possible.

About Granite Creek Copper Ltd.

Granite Creek Copper, a member of the Metallic group of companies, is focused on the exploration and development of critical minerals projects in North America. The company's 176-square-kilometre Carmacks project is located in the Minto copper district of Canada's Yukon on trend with the high-grade Minto copper-gold mine. Granite Creek also holds the advanced-stage LS molybdenum project and the Star copper-nickel-PGM (platinum group metals) project, both located in central British Columbia.

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