Mr. Rick Gittleman reports

INTERRA COPPER ANNOUNCES TRES MARIAS DRILLING RESULTS

Interra Copper Corp. has provided the following summary of its exploration and drilling activities at its 16,080-hectare Tres Marias copper project, located approximately 18 kilometres southwest of the city of Calama in the Antofagasta region of Chile. The phase 1 drilling program was completed in June, 2023.

Six reverse-circulation holes totalling 1,896 metres were completed, and processed chip samples were sent to ALS Global in Santiago for analysis. This drilling represents testing of the first target and roughly one-fifth of the initially planned exploration program, which was planned to consist of a total of 10,500 m of RC drilling across three target areas within 16,080 ha of contiguous concessions. The objective of the program is to test a number of targets identified to date, utilizing reprocessed historical airborne ZTEM and 3-D inversion of these airborne data, a 504 km UAV (unmanned aerial vehicle) high-resolution magnetic survey, and a 29 line km GDAS (global data assimilation system) 3-D induced polarization survey completed by Alto Verde Copper.

The initial phase of drilling of the combined geological-geophysical-geochemical anomalies did not intersect substantial economic copper mineralization; however, the assays highlighted several important anomalies in the six-hole program. Most notably hole TM23R-003 (Eastern zone), intersected a dacite dike with moderate quartz-sericite alteration, along with veinlets of hyaline quartz with halos of sericite and grey sulphides, and very thin and irregular veinlets of pyrite, grey sulphides and specific pyrite-molybdenite sections. Numerous geochemical anomalies were noted, including:

• Zinc: average of 350 parts per million zinc and a peak of 1,450 ppm Zn;
• Lead: average of 178 ppm lead and a peak of 1,960 ppm Pb;
• Molybdenum: average of 12 ppm molybdenum and a peak of 180 ppm Mo;
• Copper: anomalous concentrations and a peak of 211 ppm Cu;
• Silver: anomalous concentrations and a peak of 6.7 ppm (grams per tonne) silver.

The results from hole TM23R-003 are interpreted to potentially represent a distal base metal front emanating from a porphyry copper system and may warrant follow-up work.

Principal components analysis (PCA) of the geochemical results from drill hole TM23R-003 suggest a strong association with Pb-Zn-cadmium-Mo-rhenium-Ag-sulphur, which is interpreted as anomalous mineralization resulting from a distal copper system, such as that of a porphyry.

Two of the six drill holes, TM23R-001 and TM23R-004, returned some localized anomalous concentrations in Pb, Zn, Cu and lesser Ag.

Drill holes TM23R-002, TM23R-005 and TM23R-006 did not return any significant values but were elevated in zinc over the entire length of each hole.

Historical drill programs

Among the results of previous (historic) drilling are selected drill intercept highlights:

• Drill hole TMD-15-02 intercepted a 2.4 m mineralized manto between 263 m and 265.4 m with abundant covellite in thick nodules, which returned grades of 3.1 per cent Cu and 19 ppm Ag.
• Drill hole TMD-15-05 intersected a broad zone of anomalous Zn-Pb mineralization with an average of 1,162 ppm Zn and 363 ppm Pb. Between 214 m and 348 m, a hydrothermal breccia was cut with the margins returning values of 12 m of 0.5 per cent Zn and 0.11 per cent Pb, and 22 m of 0.16 per cent Zn and 0.07 per cent Pb, respectively, following which the hole encountered a dacite-andesitic porphyry until the end of hole at 386.50 m.
• Drill hole TMRC-18-01 intercepted four m of 4.5 per cent Cu and 121.5 ppm Ag in a manto from plus 218 m to 222 m.
• Drill hole TMRC-18-02 intercepted constant Zn and Pb mineralization -- 476 m of 662 ppm Zn and 355 ppm Pb, including, from 238 m to 272 m, 34 m of 0.31 per cent Zn and 0.26 per cent Pb.

Follow-up work

Based on initial analysis of the results including historic drilling, the highest-priority area is interpreted to occur in the Eastern zone between Interra drill hole TM23R-003, and historical drill holes TMD-15-02, TMD-15-05 and TRMC-18-01 completed by Freeport, an area of about 1.5 km by 0.7 km. Interra remains optimistic, and aims to secure financing to continue work on its Tres Marias property and other Chilean projects. The company has three years remaining on the Tres Marias acquisition terms and up to 8,000 m of drilling if warranted as per the initial exploration plan for the project.

Laboratory procedures and quality assurance/quality control

In total, 888 chip samples were collected from the six RC drill holes and analyzed in the ALS Global laboratory by multiacid digestion ICP ME-MS61 plus Au ICP 21 method (30-gram fire assay). The chip sampling interval was systematic at every two metres except for 11 composite samples taken over 10 m intervals from holes TM23R-001 (eight samples) and TM23R-006 (three samples). For the laboratory's respective QA/QC control, duplicate samples (51) were collected every 20 samples, with an alternating high-grade (26) and low-grade (27) copper standard inserted every 20 samples. In addition, a blank (26) was inserted after every high-grade copper standard. A total of 130 standard and control samples were assayed representing approximately 13 per cent of the total 1,029 samples assayed. No samples were sent to a referee laboratory.

Technical disclosure/qualified person

The scientific and technical information in this press release has been reviewed and approved by Dr. Scott Jobin-Bevans (PGeo, PhD, PMP), principal geoscientist and managing director at Caracle Creek Chile SpA, and an independent consultant and qualified person as defined in National Instrument 43-101.

About Interra Copper Corp.

Interra Copper is focused on building shareholder value through the exploration and development of its portfolio of highly prospective/early-stage exploration copper assets located in Chile and British Columbia, Canada.

The company's portfolio includes three copper projects located at the Central Volcanic zone, within a prolific Chilean copper belt: Tres Marias and Zenaida in the Antofagasta region, and Pitbull in the Tarapaca region. The company now holds a significant land package covering an area of 20,050 ha with the projects situated amongst several of the world's largest mines owned by the largest global mining companies, including Glencore, Anglo American, Teck Resources and BHP, among others. The company also owns two exploration projects in Northern British Columbia: Thane and Chuck Creek. The Thane project is located in the Quesnel Terrane of Northern B.C. and spans over 20,658 ha with six high-priority targets identified demonstrating significant copper and precious metal mineralization.

Interra Copper's leadership team comprises senior mining industry executives who have a wealth of technical and capital markets experience, and a strong record of discovering, financing, developing and operating mining projects on a global scale. Interra Copper is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The company's common shares are principally listed on the Canadian Stock Exchange under the symbol IMCX.

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