Copper Lake Completes Preliminary Assessment on the Gold Potential of Its Marshall Lake Copper-Zinc-Silver VMS Property, Northwestern Ontario

Rhea-AI Summary

Copper Lake (WTCZF) completed a preliminary assessment of gold potential at its Marshall Lake copper-zinc-silver VMS property on October 9, 2025. The review combined historical and recent geological, geochemical and drill databases to prioritize targets for precious-metal oriented exploration. Three east–west gold-bearing structural corridors were identified: Adnarod, Lin and Billiton-2, with the Adnarod traced over ~300m and the Lin traced over ~1,500m (undrilled). Historical and recent assays include high-grade samples (e.g., up to 15.35 g/t Au, 381–408 g/t Ag, and multi-percent Cu in grab samples). The zones are largely untested at depth and along strike; planned work includes diamond drilling and a large-loop electromagnetic (LLEM) survey to refine targets.

Positive

• Historic grab assays up to 15.35 g/t Au
• Lin Zone traced over 1,500 metres undrilled
• Adnarod Zone traced over ~300 metres and open
• Planned LLEM survey to refine drill targets

Negative

• Historic drilling limited and shallow at Adnarod
• Historical drill results not verified by a Qualified Person
• Referenced Billiton resource is historic and non‑NI 43‑101

News Market Reaction

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+30.43% News Effect

On the day this news was published, WTCZF gained 30.43%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Highlights

• Adnarod Zone features historic drill intercepts of 14.54 g/t gold, 0.18% copper & 0.87% zinc over 3.81 metres & 1.64 g/t gold, 189.0 g/t silver, 1.99% copper & 7.67% zinc over 2.53 metres in the only holes completed to date
• Adnarod Zone traced intermittently over 300-metre strike length; totally open along strike and at depth
• Lin Zone features a 1,500-metre-long structural corridor containing significant gold, silver and base metal assays that has never been drill tested
• Grab sampling of up to 4.51 g/t Au, 140 g/t Ag, 6.02% Cu and 2.98 g/t Au, 146 g/t Ag and 2.26% Cu from along the Lin Zone

Toronto, Ontario--(Newsfile Corp. - October 9, 2025) - Copper Lake Resources Ltd. (TSXV: CPL) (FSE: W0I) ("Copper Lake" or the "Company") is pleased to announce that the Company has completed a preliminary review and assessment of the gold potential on its Marshall Lake copper-zinc-silver volcanogenic massive sulphide property (the "Property"), located in northwestern Ontario. The study was undertaken to capitalize on the current high gold price, supplemented by the substantial number of mineral occurrences present at Marshall Lake (over 200), in which gold analyses were not undertaken or are minimal in number. The objective of the study is to identify prospective priority areas for upcoming precious-metal oriented exploration work, with the goal of defining high-quality diamond drilling targets.

An examination of the Property's sampling and drill assay database in combination with a concurrent review of Marshall Lakes' historical data including geological, geochemical and geophysical reports and maps, were collectively utilized in this assessment.

Preliminary Results:

The preliminary work identified three (3) east-west trending gold-bearing structures characterized by minimal sampling, limited to no drilling and in some cases, no historical gold assays. These include the Adnarod Zone, the Lin Zone and the Billiton-2 Zone (See Figure 1).

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Adnarod Zone

The Adnarod Zone is located approximately 400 metres north of the Billiton deposit (historic resource of 2.2 MT at 4.2% zinc, 1.34% copper & 2.50 oz/t silver¹). The Adnarod Zone has only been tested with two historical drill holes. Legacy mapping at Adnarod outlined a number of outcrops located over a strike length of ~300m showing strong folding, shearing and high strain zones with sericite-silica-chlorite alteration. Structures are oriented roughly East-West and folds plunge ~35° to the east. Disseminated to massive sulphide occur with quartz veining, with many of the sulphide zones being folded and strongly deformed.

Historical drill testing of the zone returned^{2, 3}:

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The historic drilling was completed at very shallow depth and within an area of limited extent; additional diamond drilling is clearly warranted at the Adnarod Zone to help determine the nature, tenor and extent of gold mineralization. The Adnarod Zone is completely open-ended along strike and at depth.

Lin Zone

The Lin Zone occurs as an NNW-trending structural corridor located between the Teck Hill Zone and the Billiton deposit, which have been historically explored (see Figure 1). The Lin Zone has been traced for over 1,500m and has not been drill tested. Historical sampling of outcrops along the structural corridor has returned significant Au-Ag-Cu results. The zone is dominantly hosted in quartz-plagioclase crystal tuff with varying degrees of sericite +/- andalusite +/- garnet alteration. Semi massive sulphide mineralization was observed within all the trenches exposed with quartz veining occurring in deformed / folded portions of the volcanic stratigraphy.

Historical grab sampling (2006²) of structures from outcrops from the Lin Zone returned assays of:

• 16.5% Cu, 0.32% Zn, 381 g/t Ag and 4.12 g/t Au (Sample MK-06-096)
• 8.72% Cu, 0.25% Zn, 229 g/t Ag and 15.35 g/t Au (Sample MK-06-098)
• 18.0% Cu, 0.46% Zn, 408 g/t Ag and 5.19 g/t Au (Sample MK-06-099)
• 4.18% Cu, 0.13% Zn, 173 g/t Ag and 3.21 g/t Au (Sample MK-06-101)

Chip sampling was completed by Copper Lake in 2016 across a portion of the zone, consisting of 7 samples. Assays of up to 2.03 g/t Au, 35 g/t Ag, 0.26% Cu and 5.10% Zn over 0.35m were obtained and grab sampling of outcrops within trenches along the strike length of the zone returned values of up to 4.51 g/t Au, 6.02% Cu, 146 g/t Ag and 1.49% Zn. Grab sample and chip sample assays obtained in Copper Lake sampling are documented in the 2 tables below².

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To view an enhanced version of this graphic, please visit:
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Billiton-2 Zone

The Billiton-2 Zone occurs approximately 200 metres to the north of the Billiton Deposit and has only been tested by limited historical drilling. The zone comprises an east-west trending structural zone that has been traced for over 300 metres. Mapping has identified strong folding of the altered volcanic rocks. In addition, there exists clear evidence that the sulphides and quartz veins have been strongly folded as well. Channel samples were designed to assess for gold mineralization associated with the sulphides, and the potential for gold mineralization within the fold hinges.

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The preliminary assessment of the precious-metal potential at Marshall Lake has clearly identified a minimum of 3 prospective target areas, favorable for gold and silver as well as for lead and zinc mineralization. Additional work is clearly warranted on all 3 targets, including significant diamond drilling programs. Also, a planned upcoming ground large-loop electromagnetic survey (LLEM), will provide coverage over the 3 prospective gold target areas documented above. This will further assist in refining drill targets.

Quality Assurance and Quality Control Program:

All Copper Lake sampling was collected under the supervision of an independent contract project geologist, Craig Fitchett P.Geo. of Orix Geoscience. Channel and chip samples were collected to sample distinct geological and alteration units. Channels were cut using a mechanical "core saw."

Samples were delivered to ALS-Chemex in Thunder Bay with inserted certified standards and blanks, dried and crushed to 70% passing 2mm. A split of 3kg is pulverized to 85% passing -75µm (200#). Gold is assayed by Fire Assay with a 50g charge and an AAS finish (AA-AA26). Other elements including Ag, Cu, Pb and Zn in a 33-element suite are analyzed after undergoing a four- acid digestion and analysis by ICP-AES (ME-ICP61a).

Assay results undergo precision and accuracy checks prior to being entered into the database.

The content of this press release has been reviewed and approved by Donald Hoy, M. Sc., P. Geo, the Company's Vice President of Exploration. who serves as the Qualified Person under the National Instrument 43-101 guidelines.

¹The resource numbers referred to in the Billiton Deposit are considered as historic resources not compliant with NI 43-101 guidelines and therefore should not be relied upon.
²Report on Prospecting, Mapping, Channel Sampling & Core Resampling Program, Completed By Copper Lake Resources Ltd., Marshall Lake Property, Summit Lake Area, Sollas Lake Area, Willet Lake Area& Gzowski Township, Ontario. Craig Fitchett, M. Sc., P. Geo., Orix Geoscience, 2017, 34 pp.
³Historical drilling results have not been verified by a Qualified Person and therefore cannot be relied upon.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line. Copper Lake has an 82.97% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties. These newer claims add approximately 30 square km to the property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of Aroland and Animbiigoo Zaagi'igan Anishinaabek ("AZA") First Nations.

Copper Lake has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Company filed an updated NI 43-101 in October 2023 with a mineral resource of open pit and underground Measured + Indicated Resources of 1,795,000 tonnes at an average grade of 0.72% NI, 0.69% Cu, 339 ppm Co, 0.52 g/t Pd, 0.17 g/t Pt and containing 28.3Mlbs of nickel and 27.3Mlbs of copper. The Norton Lake property is located in the traditional territories of Eabametoong ("Fort Hope") and Neskantaga First Nations.

On behalf of the Board of Directors,

Copper Lake Resources Ltd.
Terry MacDonald, CEO
(416) 561-3626

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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/269775

FAQ

What did Copper Lake announce for Marshall Lake on October 9, 2025 (WTCZF)?

The company completed a preliminary assessment identifying three gold-bearing target corridors (Adnarod, Lin, Billiton-2) and recommended drilling and geophysics.

How large is the untested Lin Zone at Marshall Lake (WTCZF)?

The Lin Zone has been traced for about 1,500 metres along strike and has not been drill tested.

What high-grade assays were reported from Marshall Lake (WTCZF)?

Historical and recent grab samples include assays up to 15.35 g/t Au, plus multiple samples with hundreds g/t Ag and multi-percent Cu.

Will Copper Lake drill Marshall Lake targets and what survey is planned (WTCZF)?

Yes; the company recommends significant diamond drilling and plans a large-loop electromagnetic (LLEM) survey to refine targets.

Are the historic Billiton resource figures NI 43-101 compliant for WTCZF?

No; the Billiton resource cited is historic and not compliant with NI 43-101 and should not be relied upon.