CopperCorp Awarded EDGI Co-Funding for Phase 2 Drilling at Jukes Cu-Au Prospect

Rhea-AI Summary

CopperCorp Resources has secured a Tasmanian Government Exploration Drilling Grant Initiative (EDGI) for drilling at the Jukes prospect within its Razorback Copper-Gold-REE property in western Tasmania. The grant provides up to AUD $70,000 in refunds from 50% of direct diamond drilling costs, plus AUD $20,000 for helicopter support. The company plans a Phase 2 drilling program of up to 2,000m to test strike and depth extensions of known Cu-Au mineralization. Previous drilling results have been promising, with significant intercepts including 132.0m @ 0.35% Cu and 0.19g/t Au from hole JDD001, and 50.0m @ 0.66% Cu and 0.27g/t Au from JDD002W1. The Jukes prospect is located 10km south of the Mt Lyell copper-gold mining camp and shows anomalous IP chargeability, magnetics, and surface geochemistry over a 700m strike length.

Positive

• Secured government funding support through EDGI grant worth up to AUD $90,000 total
• Strong previous drilling results with significant copper-gold mineralization intercepts
• Strategic location near established Mt Lyell mining camp (3Mt copper, 3Moz gold)
• Promising geological indicators with 700m strike length of anomalous features

Negative

• Project still in early exploration phase with no resource definition
• Drilling program requires helicopter access, indicating challenging terrain and potentially higher operational costs
• Pending regulatory approvals for planned drilling program

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that it has been awarded a Tasmanian Government's Exploration Drilling Grant Initiative (EDGI) for drilling at the Jukes prospect on its 100% owned Razorback Copper-Gold-REE property in western Tasmania, Australia (Figures 1 and 2).

The Company applied for co-funding to undertake the drilling of a proposed 550m deep diamond core drill hole located in a currently non-vehicle accessible part of the Jukes prospect. The EDGI grant allows the Company to apply for a total refund of up to AUD $70,000 from 50% of direct diamond drilling costs, plus AUD $20,000 for helicopter support costs incurred in drilling the proposed hole, subject to signing of a funding agreement.

CopperCorp has recently submitted work program applications for a phase 2 drilling program at Jukes where the Company completed a successful maiden drill campaign during late 2024¹. The planned second phase includes up to 2,000m of initial drilling designed to test for strike and depth extensions to known Cu-Au mineralization, with further drilling to be considered subject to results.

Stephen Swatton, President and CEO of CopperCorp commented:
"The Government has continued to demonstrate their belief in the importance of resources to the state by offering these grants for new exploration greenfield initiatives and by their general support for ongoing mining development in Tasmania. We are pleased to be awarded our third such grant."

Jukes Prospect Recap
The Jukes prospect is located within the 100% CopperCorp owned Razorback Cu-Au-REE property, 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp (3Mt contained copper and 3Moz contained gold). Jukes is characterized by anomalous IP chargeability, magnetics, and surface geochemistry over a strike length of at least 700m (open) (Figure 3).

Previous drilling, including CopperCorp's recent campaign in late 2024^1,2, has so far only tested the southern edge of the interpreted mineralized system at Jukes (Figure 3), but results are very encouraging with significant drill intercepts including:

JDD001^1,2:

• 132.0m @ 0.35% Cu and 0.19g/t Au from 72.0m, including
  • 25.0m @ 0.75% Cu and 0.4g/t Au from 72.0m,
  • 10.1m @ 0.94% Cu and 0.69g/t Au from 128.5m, and
  • 10.0m @ 0.67% Cu and 0.29g/t Au from 194.0m

JDD002W¹:

• 50.0m @ 0.66% Cu and 0.27g/t Au from 498.0m, including
  • 20.0m @ 0.76% Cu and 0.17g/t Au from 498.0m; and
  • 19.0m @ 0.86% Cu and 0.48g/t Au from 529.0m, including
    • 2.05m @ 4.2% Cu and 1.66g/t Au from 545.4m

Historical underground adit channel sampling by CopperCorp also includes:

Jukes No.3 Main Adit (channel sampling)³:

• 31.0m @ 1.48% Cu and 0.83g/t Au, including
  • 9.0m @ 2.92% Cu and 1.79g/t Au

Planned Phase 2 Drill Program
The Company is planning to drill up to 2,000m at Jukes. The proposed drilling work program is currently awaiting formal approvals. The final drill plan for Razorback will be publicly announced when we have received all permits in hand and can work with greater certainty on the scheduling going forward.

Initial drilling will step out approximately 400m north of previous drilling to test mineralization indicated by very strong chargeability responses in previous gradient array IP surveys (Figure 3) and historical exploration results such as 58.0m @ 0.74% Cu and 0.39g/t Au, including 18.0m @ 1.34% Cu and 1.09g/t Au (Figure 4) from channel sampling of the King Jukes No. 1 Adit³. Extension drilling of 2024-hole JDD001 (132m @ 0.35% Cu, 0.19g/t Au) is also planned. The program may be expanded based on initial drilling results or upcoming dipole-dipole IP survey findings.

Figure 1. Southern Skyline Project properties and exploration target areas with magnetics TMI RTP image.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/255341_f4abbd7734dffa4b_002full.jpg

Figure 2. Location of the Razorback property and the Jukes Zone target area relative to the Mt Lyell copper-gold mine. Blue outlines are CopperCorp's 100% owned licenses.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/255341_f4abbd7734dffa4b_003full.jpg

Figure 3. Jukes prospect summary plan with Scintrex 1982 gradient array IP survey chargeability (psuedocolour image) and historical rock chip sample copper assays.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8950/255341_f4abbd7734dffa4b_004full.jpg

Figure 4. Jukes prospect 3D model section slice (looking oblique towards SSW) showing drill results with historical mine adit channel sampling, 3D magnetic inversion model core (blue), and gradient array IP chargeability image draped on topography.

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https://images.newsfilecorp.com/files/8950/255341_f4abbd7734dffa4b_005full.jpg

About CopperCorp

CopperCorp is focused on the exploration and development of its Skyline, AMC, and Whisky Creek copper-gold-REE projects in western Tasmania. The company is well-financed with approximately C$2.2M in working capital.

Qualified Person & National Instrument 43-101 Disclosure

The Company's disclosure of technical or scientific information in this news release has been reviewed and approved by Sean Westbrook, VP Exploration for the Company. Mr. Westbrook is a Qualified Person (QP) as defined in National Instrument 43-101.

Information on historical and recent prospecting, mining, and exploration activities at the Skyline Project group of properties contained within this news release has been reviewed and verified by the Qualified Person. In the opinion of the Qualified Person, sufficient verification of historical and new data has been undertaken to provide sufficient confidence that past exploration programs were performed to adequate industry standards and the data reported is fit for substantiating the prospectivity of the project in general, supporting the geological model/s proposed, planning exploration programs, and identifying targets for further investigation.

This news release contains information about adjacent properties on which the Company does not have an interest. The QP has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release.

References

¹CPER: TSXV News Release 19^th December 2024
²CPER: TSXV News Release 15^th October 2024
³CPER: TSXV News Release 13^th May 2024

Adjacent Property (Mt Lyell) Information Sources:
Sibanye-Stillwater company website information as of May 12^th 2024
New Century Resources: ASX Announcement 23^rd January 2023
New Century Resources: ASX Announcement 27^th October 2021
Seymour, D.B., Green, G.R., and Calver, C.R. 2007. The Geology and Mineral Resource of Tasmania: a summary. Geological Survey Bulletin 72. Mineral Resources Tasmania, Department of Infrastructure, Energy and Resources Tasmania

Contact:
Stephen Swatton
President, CEO & Director
stephen@coppercorpinc.com
Additional information about CopperCorp can be found on its website: www.coppercorpinc.com and at www.sedarplus.ca.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating the Company's expectations and plans regarding the Skyline Project, Razorback property and Jukes prospect in Tasmania; plans for future exploration and drilling at the Jukes prospect and the timing of same; the merits of the Company's mineral projects and other plans of the Company. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "encouraging", "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated the timing and outcome of the approval process for final granting of the EL11/2024 application; that the Company may experience difficulties in exploration and drilling and carrying out related work; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.

Forward-looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255341

FAQ

What is the significance of CopperCorp's EDGI grant for the Jukes prospect drilling?

The EDGI grant provides CopperCorp with up to AUD $70,000 in drilling cost refunds plus AUD $20,000 for helicopter support, reducing exploration costs and demonstrating government confidence in the project.

What are the key drilling results from CopperCorp's previous campaign at Jukes?

Key results include 132.0m @ 0.35% Cu and 0.19g/t Au from hole JDD001, and 50.0m @ 0.66% Cu and 0.27g/t Au from JDD002W1, indicating significant copper-gold mineralization.

What is the scope of CopperCorp's planned Phase 2 drilling program at Jukes?

The Phase 2 program includes up to 2,000m of drilling to test strike and depth extensions of known Cu-Au mineralization, with potential for expansion based on results.

How is the Jukes prospect positioned relative to other mining operations?

Jukes is located 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp, which contains 3Mt of copper and 3Moz of gold.

What are the geological characteristics of the Jukes prospect?

Jukes shows anomalous IP chargeability, magnetics, and surface geochemistry over a 700m strike length, with significant copper-gold mineralization confirmed by drilling and underground sampling.