Mr. Max Porterfield reports

VISIONARY ANNOUNCES ANNUAL LETTER TO SHAREHOLDERS

Visionary Copper and Gold Mines Inc. has provided its annual letter to shareholders from president and chief executive officer Max Porterfield.

Dear fellow shareholders,

As I write to you, our team is on the ground and a drill is being mobilized to kickstart the first phase of exploration at our gold-, copper-, zinc- and silver-rich Point Leamington deposit in Newfoundland. Now, more than ever, I am grateful for your support as we kickstart our exploration campaign to expand the already-significant mineral resource at Point Leamington.

Visionary strategically acquired Point Leamington in 2016 at the bottom of the last metals cycle and published an updated National Instrument 43-101 resource estimate in 2021. At the time, the company had recently made the high-grade, copper-rich Rainbow discovery in Manitoba, which now hosts an NI 43-101 resource estimate, in addition to environmental baseline studies and engineering work, and is also pending an advanced exploration permit (AEP), a key milestone achievement during 2025.

With the strong move in critical and precious metals prices, which have since strengthened even more, Visionary refocused its exploration efforts last year to expand and further define the mineral resource base at Point Leamington, which includes:

• A pit-constrained indicated mineral resource of 5.0 million tonnes grading 2.5 grams per tonne gold equivalent for 402,000 ounces AuEq (145,700 ounces gold, 2.0 million ounces silver, 60.0 million pounds copper, 153.5 million pounds zinc and 1.5 million pounds lead);
• A pit-constrained inferred mineral resource of 13.7 million tonnes grading 2.24 g/t AuEq for 986,500 ounces AuEq (354,800 ounces gold, 6.2 million pounds silver, 110.2 million pounds copper, 527.3 million pounds zinc and 7.0 million pounds lead);
• An out-of-pit inferred mineral resource of 1.7 million tonnes grading 3.06 g/t AuEq for 168,500 ounces AuEq (65,400 ounces gold, 1.4 million ounces Ag, 13.3 million pounds copper, 102.9 million pounds zinc and 2.6 million pounds lead) (see news release dated Oct. 25, 2021).

To support its next phase of growth, the company has assembled a technical team with a diverse skill set aimed at expanding the current mineral resource estimate and refining the Point Leamington economic recovery potential, leading to the next phases of development. The Visionary technical team has identified a series of high-priority exploration targets with an emphasis on near-surface copper-, zinc-, gold- and silver-rich zones. Preliminary testing of these targets will be done in the exploration drilling campaign scheduled to commence imminently.

Results from the first phase of exploration drilling will guide an aggressive follow-up campaign designed to delineate new mineralized zones, increase the confidence level of the existing resource estimate through targeted drilling and test the deposit's growth potential at depth.

On the mineral processing front, Visionary has retrieved samples from historic drill cores for mineralogical testing to improve understanding of metal distribution within the deposit. In addition, the company has planned a two-phased metallurgical program to be undertaken this year, which will define recovery processes and provide valuable data for future engineering studies.

The planned collective work over the next several months will advance the Point Leamington deposit to the stage where the company will be well positioned to update the NI 43-101 resource estimate and commence preparation of a preliminary economic assessment (PEA).

In Manitoba, Visionary continues to advance its high-grade copper Rainbow and Pine Bay deposits and remains on track to receive approval for its advanced exploration permit. The company is planning to conduct supplemental environmental assessment work and community engagement activities in preparation for applying for an environment act licence, which allows for construction and production.

As the industry shines on the global stage, Visionary's portfolio of polymetallic deposits, rich in critical and precious metals, located within proximity to infrastructure and access to key international markets is ideally positioned for the current environment. While there will certainly be volatility ahead, gold and copper will continue to shine for the years ahead. The already-significant move in gold will continue to primarily be underpinned by central bank buying and fear, driven by inflation and unease over global geopolitical conflicts. Meanwhile copper's continued strong demand will further be strengthened by stockpiling while declining grades globally coupled with persistent issues with production will provide for a very tight market.

Sincerely,

Max Porterfield

President and chief executive officer

Visionary Copper and Gold Mines Inc.

Qualified person

The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, PGeo, a qualified person under NI 43-101. Ms. Hutchins is a consultant of the company and is independent of the company.

About Visionary Copper and Gold Mines Inc.

Visionary Copper and Gold Mines is advancing its portfolio of base- and precious-metal-rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the 100-per-cent-owned Point Leamington deposit in Newfoundland, located in one of the richest VMS (volcanogenic massive sulphide) and gold districts in Canada. The company prepared a pit-constrained indicated mineral resource of 5.0 million tonnes grading 2.5 grams per tonne gold equivalent for 402,000 ounces AuEq (145,700 ounces gold, 60.0 million pounds copper, 153.5 million pounds zinc, 2.0 million ounces silver and 1.5 million pounds lead), a pit-constrained inferred mineral resource of 13.7 million tonnes grading 2.24 g/t AuEq for 986,500 ounces AuEq (354,800 ounces gold, 110.2 million pounds copper, 527.3 million pounds zinc, 6.2 million ounces silver and 7.0 million pounds lead) and an out-of-pit inferred mineral resource of 1.7 million tonnes grading 3.06 g/t AuEq for 168,500 ounces AuEq (65,400 ounces gold, 13.3 million pounds copper, 102.9 million pounds zinc, 1.4 million ounces silver and 2.6 million pounds lead) (see news release dated Oct. 25, 2021). Additionally, the company is permitting the Rainbow deposit at its VMS-rich Pine Bay project located near existing infrastructure in the Flin Flon mining district. The company prepared an indicated mineral resource on the Rainbow deposit of 3.44 million tonnes grading 3.59 per cent copper equivalent for 272.4 million pounds CuEq (238.3 million pounds Cu, 56.9 million pounds zinc, 37,600 ounces gold, 692,800 ounces silver and 2.3 million pounds lead), an inferred mineral resource on the Rainbow deposit of 1.28 million tonnes grading 2.95 per cent CuEq containing 83.4 million pounds CuEq (72.1 million pounds copper, 19.5 million pounds zinc, 11,100 ounces gold, 222,200 ounces silver and 800,000 pounds lead) and an inferred mineral resource at the Pine Bay deposit of 1.0 million tonnes grading 2.62 per cent copper containing 58.1 million pounds copper (see news release dated July 10, 2023). Additionally, the portfolio includes the Nash Creek project, located in the VMS-rich Bathurst mining district of New Brunswick. A 2018 PEA (preliminary economic assessment) generates a strong economic return with a pretax internal rate of return of 34.1 per cent (25.2 per cent after tax) and net present value (discounted at 8 per cent) of $230-million ($128-million after tax) at $1.25 zinc (see news release dated May 14, 2018).

We seek Safe Harbor.