Mr. Max Porterfield reports

VISIONARY COMMENCES PHASE 1 EXPLORATION DRILLING AT THE GOLD/COPPER/ZINC/SILVER PT. LEAMINGTON DEPOSIT IN CENTRAL NEWFOUNDLAND

Visionary Copper and Gold Mines Inc. has commenced the fully financed 2026 phase 1 exploration program at the 100-per-cent-owned Point Leamington project, located in central Newfoundland. The project is accessible by road and trails, approximately 18 kilometres (km) and 37 km from the towns of Point Leamington and Grand Falls-Windsor, and 20 km from the provincial power grid.

Max Porterfield, president and chief executive officer, stated, "We are excited to drill test high-priority, near-surface targets that our team has outlined." Mr. Porterfield continued, "Each target has the potential to significantly expand the sizable gold-copper-zinc-and-silver-rich mineral resource already defined at Point Leamington."

The 3,000-metre (m) drill program, the first exploration drilling at the project in over two decades, will focus on resource expansion, and identifying higher-grade zones and strike extensions of the deposit, which includes:

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

Point Leamington deposit expansion along strike to the south

Drilling started on a 300 m drill hole testing the extension of the deposit along strike to the south with two drill holes planned to test key areas with the potential to double the strike extent of the deposit near surface to nearly 1.2 km.

The deposit's current strike extent is 560 m, remaining open to the south. During the last exploration drill program in 2004, the south zone, highlighted by hole PL-073, which intersected 6.73 m of 0.19 per cent Cu, 0.97 g/t Au, 3.58 per cent Zn and 22.74 g/t Ag, was discovered. Borehole pulse electromagnetic (BPEM) data, modelled from surveys in the southern portion of the deposit and the south zone supports continuity between them. A hole is planned to test the strike extension 115 m along strike from PL-024, the southernmost, near-surface hole, in the resource, which intersected 39.62 m of 0.20 per cent Cu, 0.70 g/t Au, 0.67 per cent Zn and 10.96 g/t Ag.

In 2007, a modern airborne electromagnetic survey identified a 350 m conductive zone immediately to the south of the south zone, interpreted to be on the horizon that hosts the deposit. Drill hole PL-029, a shallow 107 m hole drilled 35 years before the airborne EM survey, is the closest hole to the conductive zone. This core was not assayed, however, logs note copper-bearing chalcopyrite in disseminated sulphides intersected 50 m downhole, interpreted to represent the favourable Point Leamington horizon.

The first hole of the program is testing the centre of the conductive body and its potential to be a significant copper-gold-zinc-and-silver-rich extension of the deposit. This hole will be an approximately 200 m stepout from PL-072, drilled in 2000, which intersected 8.08 m of 0.66 per cent Cu, 1.08 g/t Au, 0.44 per cent Zn and 4.76 g/t Ag from 176.7 m to 184.78 m. Since the airborne EM anomaly was identified in 2007, no exploration drilling has tested this target area.

Emerging deeper footwall horizon and copper stringer zone

Many large VMS (volcanogenic massive sulphide) systems, like the Ming deposit being of FireFly Metals, include stacking of VMS lenses representing multiple phases of base and precious metal mineralization, hosted at different stratigraphic levels but associated with the main VMS system. A lower footwall zone (LFZ) has been identified stratigraphically below the Point Leamington horizon that hosts the current mineral resource. The LFZ, much of which is not included in the resource and none of which is included in the pit-constrained resource, has not been defined.

The LFZ has been noted over a strike extent of more than 500 m, remains open to surface and may extend to depth. It consists of hydrothermally altered felsic volcanic rocks with stringer pyrite and base metal sulphides. Mineral assemblages are comparable to the Point Leamington main footwall zone (MFZ), with grades and thicknesses that support the potential for resource growth and pit expansion. No intersections in the LFZ are contained within the pit shell, including PL-004, which intersected 45.72 m of 0.50 per cent Cu, and PL-055, which returned 36.28 m of 0.40 pepr cent Cu, which are included in the out-of-pit resource. The intersections along the footwall horizon show excellent potential for significant thickness and grades, and the potential for near-surface resource growth that could be included in an expanded pit.

Near-surface in-pit copper Point Leamington stringer zone

When Noranda discovered the Point Leamington deposit in 1971, the focus was on the copper and zinc mineralization with the gold values noted but not a priority and sampling was more selective due to metal prices. As the company advances the deposit exploration and definition as a potential open-pit operation, drill testing of unsampled areas could grow the near-surface resource, particularly for copper and gold.

Previous sampling was focused on the massive sulphide mineralization with less sampling of footwall, stringer pyrite and chalcopyrite mineralization. Three holes in the current program are planned to be drilled across approximately 150 m of strike to test the extent of the mineralization. Results, if successful, may expand the resource within the pit shell.

Stock option grant and amendments

The company has granted 1,015,000 stock options to its directors, officers and consultants at an exercise price of 80 cents per share expiring five years from the date of grant. The options are subject to certain vesting requirements.

The company has also approved the downward repricing and extension of 324,167 stock options. Under the proposed amendment: (i) 126,667 stock options will be amended by decreasing the exercise price from $3.11 to 80 cents and the expiry date will be extended from April 22, 2027, to April 22, 2032; (ii) 187,500 stock options will be amended by decreasing the exercise price of $3.15 to 80 cents and the expiry date will be extended from March 27, 2028, to March 27, 2033; and (iii) 10,000 stock options will be amended by decreasing the exercise price of $3 to 80 cents and the expiry date will be extended from May 29, 2028, to May 29, 2033. A total of 261,667 stock options being amended are held by insiders of the company. As a result, the company will be required to obtain disinterested shareholder approval of the proposed amendments. The amendments are also subject to acceptance by the TSX Venture Exchange.

Qualified person

The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, PGeo, a qualified person under National Instrument 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 is advancing its portfolio of base and precious metals 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 and gold districts in Canada. The company prepared a pit-constrained indicated mineral resource of 5.0 million t grading 2.5 g/t AuEq for 402,000 oz AuEq (145,700 oz gold, 60.0 million lb copper, 153.5 million lb zinc, 2.0 million oz silver and 1.5 million lb lead), a pit-constrained inferred mineral resource of 13.7 million t grading 2.24 g/t AuEq for 986,500 oz AuEq (354,800 oz gold, 110.2 million lb copper, 527.3 million lb zinc, 6.2 million oz silver and 7.0 million lb lead) and an out-of-pit inferred mineral resource of 1.7 million t grading 3.06 g/t AuEq for 168,500 oz AuEq (65,400 oz gold, 13.3 million lb copper, 102.9 million lb zinc, 1.4 million oz Ag and 2.6 million lb lead) (see news release dated Oct. 25, 2021). Additionally, the company is permitting the Rainbow deposit at its rich VMS 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 t grading 3.59 per cent copper equivalent (CuEq) for 272.4 million lb CuEq (238.3 million lb Cu, 56.9 million lb Zn, 37,600 oz Au, 692,800 oz Ag and 2.3 million lb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 million t grading 2.95 per cent CuEq containing 83.4 million lb CuEq (72.1 million lb Cu, 19.5 million lb Zn, 11,100 oz Au, 222,200 oz Ag and 800,000 lb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 million t grading 2.62 per cent Cu containing 58.1 million lb Cu (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 IRR (internal rate of return) of 34.1 per cent (25.2 per cent posttax) and an NPV (net present value) at 8 per cent of $230-million ($128-million posttax) at $1.25 zinc (see news release dated May 14, 2018).

We seek Safe Harbor.