Mr. Timothy Johnson reports

GRANITE CREEK COPPER ANNOUNCES FUNDING FROM NATURAL RESOURCES CANADA - SUPPORTING ULTRAMAFIC TECHNOLOGY DEVELOPMENT PROJECT TARGETING THE STAR PROPERTY

Further to the Feb. 5, 2025, news release regarding Granite Creek Copper Ltd.'s participation in a new technology development project, the project has secured funding from Natural Resources Canada. The project has been approved for total funding pf up to $2.28-million through NRCan's energy innovation program, under a competitive call for proposals related to carbon capture, utilization and storage research, development and demonstration.

The project is designed to target ultramafic rocks prospective for nickel and other critical minerals to enhance the economic potential of permanent carbon sequestration. Granite Creek will supply material from its 100-per-cent-owned Star nickel-copper-platinum-group-element project located in central British Columbia, which has been identified as including areas with suitable geology for application of the technology.

The technology development project, entitled, "Development of Extraction and Carbonation Technology for Ultramafic Rocks," is being led by Kemetco Research Inc. with funding support from Natural Resources Canada. The project will primarily focus on laboratory and pilot-scale development work for technology aimed at enhanced metal extraction with a high level of carbon sequestration through carbonation of magnesium silicate minerals. As a part of this program, Granite Creek's related site work expenses and analytical costs will be covered under the NRCan funding.

Tim Johnson, president and chief executive officer, stated, "We are pleased to receive support from NRCan and look forward to working closely with Kemetco to advance the technology and the development of the Star project."

"Developing and deploying carbon management technologies needed to achieve Canada's global climate and energy goals is critical. Innovative carbon management projects, like this technology development project from Kemetco, contribute to Canada's economy while helping the environment," said Marc G. Serre, parliamentary secretary to the Minister of Energy and Natural Resources.

About the Star property

The Star project is located 190 kilometres northeast of Smithers, B.C., and is within five kilometres of the Omineca Resource Road and power line that served the Kemess mine. The 2,500-hectare project is underlain by ultramafic rocks that are prospective for copper, nickel, cobalt, PGMs and gold, as well as carbon sequestration and geologic hydrogen production.

Long-term performance incentive plan awards

The company also announces that it has issued 450,000 performance share units to a director of the company pursuant to the provisions of its long-term performance incentive plan.

About Granite Creek Copper Ltd.

Granite Creek Copper is focused on the exploration and development of critical mineral projects in North America and more recently on geologic hydrogen. The company's projects consist of its flagship 177-square-kilometre Carmacks project in the Minto copper district of Canada's Yukon territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced-stage LS molybdenum project and the Star copper-nickel-PGM plus geological hydrogen project, both located in central British Columbia. Recent acquisitions include the Union Bay geologic hydrogen project, as well as entering into a letter of intent to acquire the Duke Island ultramafic project for its geologic hydrogen potential, both projects located in the state of Alaska. Granite Creek's goal is to be among the companies with first-mover advantage in geologic hydrogen exploration by leveraging the considerable geological knowledge available to the company through its existing employee and consultant base plus the addition of key consultants with extensive knowledge in the field.

Qualified person

Douglas Warkentin, PEng, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Warkentin is a senior metallurgist with Kemetco Research and an adviser to the company.

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