Gunnison Copper Achieves Commercial Production at Johnson Camp Mine

Gunnison Copper’s Johnson Camp Mine has reached commercial production and is ramping toward 25 million pounds of annual copper capacity.

Rhea-AI Summary

Gunnison Copper (GCUMF) reported that its Johnson Camp Mine in Cochise County, Arizona, achieved commercial production in September 2026 after meeting required operating thresholds.

Johnson Camp produced 1,304,448 pounds of copper cathode in August 2026, the highest monthly output since operations restarted, followed by 894,767 pounds from September 1–17, 2026. This sustained performance underpins the commercial production determination. The mine has a nameplate capacity of up to 25 million pounds of copper cathode per year, which the company is continuing to ramp up toward while also advancing its flagship Gunnison Project toward development.

Positive

• Commercial production reached at Johnson Camp Mine in September 2026
• August 2026 copper output 1,304,448 lbs, highest since restart
• Early September 2026 production 894,767 lbs through September 17
• Nameplate capacity up to 25 million lbs of copper cathode per year

Negative

• None.

News Explained

The release adds that Johnson Camp converts Arizona ore into 99.999% pure copper cathode on site, producing finished copper without offshore smelting or refining.

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Record August Copper Production Followed by Sustained September Operations Marks Major Milestone for Pure American Copper Production from Johnson Camp Mine

Phoenix, Arizona--(Newsfile Corp. - September 22, 2026) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company") is pleased to announce that its Johnson Camp Mine ("JCM") in Cochise County, Arizona, achieved commercial production in September 2026, following record monthly copper production in August and continued production above the required operating threshold through the first half of September.

Johnson Camp produced 1,304,448 pounds of copper cathode in August 2026, representing the highest monthly production since operations restarted. Production continued at strong levels in September, with 894,767 pounds of copper cathode produced through September 17, 2026. The sustained operating performance achieved during September supports the Company's determination that Johnson Camp has reached commercial production.

Production Highlights

• August 2026 copper cathode production: 1,304,448 lbs
• September 1–17, 2026 copper cathode production: 894,767 lbs
• Commercial production achieved: September 2026
• Johnson Camp has a nameplate production capacity of up to 25 million pounds of copper cathode per year, which the Company is ramping up to

Craig Hallworth, President and Chief Executive Officer of Gunnison Copper, commented:

"Achieving commercial production at Johnson Camp is an important milestone for Gunnison and reflects the tremendous effort of our team and our partners at Nuton. Following record production of more than 1.3 million pounds of copper in August, the continued operating performance through September demonstrates the progress we have made in establishing sustained operations at Johnson Camp.

"More importantly, Johnson Camp is delivering on Gunnison's mission to produce and reliably supply Pure American Copper from Southern Arizona. Our copper is mined and converted into finished copper cathode at site, providing domestically produced metal to support America's defense, energy, and technology supply chains. We are proud of what the team has accomplished and look forward to continuing the ramp-up toward Johnson Camp's full production capacity."

Pure American Copper

Johnson Camp produces 99.999% pure copper cathode directly from American ore in Arizona, providing a domestic source of finished copper metal without the need for offshore smelting and refining.

Achieving commercial production at Johnson Camp represents another significant milestone for Gunnison, as the Company continues to ramp up operations toward its nameplate capacity of up to 25 million pounds of copper cathode annually, while advancing its flagship Gunnison Project toward development.

ABOUT GUNNISON COPPER

Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in the Southern Arizona Copper Belt.

Its flagship asset, the Gunnison Copper Project, has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion pounds of copper (Measured Mineral Resource of 192 million tons at 0.37% containing 1.42 billion pounds of copper and Indicated Mineral Resource of 655 million tons at 0.31% containing 3.77 billion pounds of copper).

The Strong & Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing facilities, is also included in the mine plan and hosts an Inferred Mineral Resource of 76 million tons grading 0.49% total copper (0.32% CuOx) at a 0.07% cutoff, 0.56% zinc and 0.12 oz/ton silver, containing approximately 740 million pounds of copper, including 483 million pounds of oxide copper, as well as zinc (856 million pounds) and silver (9.0 million ounces).

A preliminary economic assessment ("PEA") was completed in March 2026 for the Gunnison Project yielding robust economics including an NPV8% of $2 billion, IRR of 23%, and payback period of 3.9 years. It is being developed as a conventional operation with open pit mining, heap leach, and SX/EW refinery to produce finished copper cathode on-site with direct rail link. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

In addition, Gunnison's Johnson Camp Asset, which is now in production, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million lbs of finished copper cathode annually.

Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison Project infrastructure, include South Star, and eight other deposits.

For more information on the Company, please visit our website at www.GunnisonCopper.com.

For additional information on the Gunnison Project please refer to the technical report titled "Gunnison Project NI 43-101 Technical Report, Preliminary Economic Assessment, Cochise County, Arizona, USA" with an effective date of March 18, 2026 filed on SEDAR+ at www.sedarplus.ca.

For additional information on the Johnson Camp Mine please refer to the technical report titled "Johnson Camp Mine NI 43-101 Technical Report, Cochise County, Arizona, USA" with an effective date of March 18, 2026 filed on SEDAR+ at www.sedarplus.ca.

Dr. Roland Goodgame, Senior VP of Project Development of the Company is a Qualified Person as defined by NI 43-101. Dr. Goodgame has reviewed and approved the technical information contained in this news release.

For further information regarding this press release, please contact:

Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018

Melissa Mackie
T: 647.533.4536
E: info@GunnisonCopper.com
www.GunnisonCopper.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected results of the stage two work program; (iv) future production and production capacity from the Company's mineral projects; (v) the results of the preliminary economic assessment on the Gunnison Project; and (vi) the exploration and development of the Company's mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, Nuton will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and implement the Company's operational plans, the estimation of mineral resources, the realization of resource estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, timelines for government review of permit applications, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in review and approval of work plans and permits, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315350

FAQ

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What does Johnson Camp’s “Pure American Copper” positioning involve?

Johnson Camp produces 99.999% pure copper cathode from American ore in Arizona. The copper is mined and converted into finished cathode directly at the site, providing a domestic source of copper metal without offshore smelting and refining, which the company says supports U.S. defense, energy, and technology supply chains.