Canadian Copper’s Combined Strategy PEA Delivers After-Tax C$171M NPV(7%), 36% IRR

HIGHLIGHTS[1]

• After-tax base case NPV_7% of C$171 M, IRR of 36%, and payback of 2 years using US$4.25/lb copper, US$1.30/lb zinc, US$27/oz silver, and US$1.10/lb lead price assumptions (pre-tax NPV_7% of C$264 M and IRR of 49%).
• Study economics supported by local vendor quotes for key areas including mine contracting, haul road construction, haulage from mine to process plant, concentrate trucking rates to Port of Belledune deepwater port, ocean freight rates, and historical operating costs from former Caribou process plant operation.
• Project combines the Murray Brook open pit mine project and the permitted Caribou copper, lead, zinc process plant and tailings complex located 13 km to the east.
• Initial capital expenditure (“CAPEX”) of C$64 M, resulting in an NPV/CAPEX ratio of 2.7x.
• Average annual payable production during a plus 13 year mine life (“LOM”) of:
  • 8 million pounds (“M lbs”) copper
  • 47 M lbs zinc
  • 783k thousand ounces of silver
  • 10 M lbs lead
  • Or 30 M lbs copper equivalent (“CuEq”) or 98 M lbs zinc equivalent (“ZnEq”).
• All-in sustaining cash cost (“AISC”) of US$3.14 per lb CuEq or AISC of US$0.96 per lb ZnEq.
• Total after-tax LOM free cash flow of C$353M and revenue of C$2.3B
• Use of existing process plant complex, initial tailings storage facility, power, water, and necessary infrastructure to process the adjacent Murray Brook deposit will reduce execution risk.

Toronto, May 22^nd, 2025 – Canadian Copper Inc. (CSE:CCI) (“Canadian Copper” or the “Company”) announces the results of a positive Preliminary Economic Assessment (“PEA”) by Ausenco for its Combined Strategy of processing the 100%-owned Murray Brook Deposit (“Murray Brook”) at the existing, permitted, and recently operated Caribou Process Plant (“Caribou”) located near Bathurst New Brunswick, Canada.

The asset combination as envisioned in the PEA considers mining the 100%-owned Murray Brook via open pit mining methods and transporting 3,300 tonnes per day (“tpd”) for processing at Caribou. The plan includes the construction of a new dedicated 13 km haul road connecting Murray Brook with Caribou. Essential infrastructure including water, power, administration facilities, and initial tailings deposition capacity will be available at Caribou at the commencement of mining operations.

Simon Quick, CEO of Canadian Copper, stated, “This is an important milestone for Canadian Copper. Today’s PEA provides the first independent evaluation of our vision to combine two separate and complementary assets into a possible near-term, Canadian-based, critical metals producer. In the last 18 months, we have closed the purchase of Murray Brook, which is the largest VMS open pit amenable deposit in New Brunswick, updated its NI 43-101 Mineral Resource Estimate, secured exclusive rights to acquire the adjacent Caribou Processing Complex. At 2024 year-end, our total capital raised is less than $5 million dollars demonstrating disciplined capital allocation and our daily effort to respect Canadian Copper shareholders.

PEA Summary

The 2025 PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”) by Ausenco Engineering Canada ULC (“Ausenco”) in conjunction with an updated mine plan prepared by P&E Mining Consultants Inc. (“P&E”) and incorporates the previously announced Mineral Resource Estimate for the Murray Brook Deposit prepared by P&E (the “2023 Mineral Resource Estimate”)[2]. Stantec Consulting Ltd. (“Stantec”) supplied Ausenco with the cost inputs used to develop the tailings storage capital and reclamation cost estimates for the Caribou Site. The Company plans to file the complete 2025 PEA report on SEDAR+ at www.sedarplus.ca within 45 days of this press release.

Table 1: PEA Summary Project Metrics[3]

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