Mr. Timothy Johnson reports

GRANITE CREEK COPPER CLOSES $1.5 MILLION PRIVATE PLACEMENT FINANCING

Granite Creek Copper Ltd. has completed the previously announced private placement offering for aggregate gross proceeds of $1.5-million through the issuance of a total of 37.5 million units at four cents per unit (see news release dated March 7, 2024).

Each unit consisted of one common share of the company and one share purchase warrant, entitling the holder to acquire one common share of the company at an exercise price of seven cents for a period of 24 months following the closing date of the private placement.

The shares are subject to a hold period of four months and one day from issuance, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement remains subject to the final approval of the TSX-V.

In connection with the private placement, Granite Creek has paid commissions to eligible parties totalling $40,740 and issued 1,018,500 finder warrants. Each finder warrant is exercisable into one share of the company at exercise price of seven cents for 24 months from the date of closing of the private placement.

The net proceeds from the private placement are expected to be fully used for working capital.

Officers and directors of the company subscribed for a total of 2,125,000 units of the private placement. Participation of officers and directors of Granite Creek in the private placement is considered a related party transaction as defined under Multilateral Instrument 61-101. The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the private placement nor the consideration to be received for those securities, insofar as the private placement involves insiders, exceeds 25 per cent of the company's market capitalization.

About Granite Creek Copper Ltd.

Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical mineral projects in North America. The company's projects consist of its flagship 176-square-kilometre Carmacks project in the Minto copper district in Yukon, Canada, on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced-stage LS molybdenum project and the Star copper/nickel/platinum group element project, both located in central British Columbia.

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