Mr. Simon Quick reports

CANADIAN COPPER UPSIZES PRIVATE PLACEMENT

Canadian Copper Inc. is increasing the previously announced private placement of 50 million units at a price of 20 cents per unit for gross proceeds up to $10-million by $5-million, for gross proceeds up to $15-million. The upsized private placement would result in the issuance of up to 75 million units. The company has received commitments for the entire upsized private placement, including a $2-million investment from Crescat Capital, a global macro asset management firm.

Each unit of the upsized private placement will consist of one common share of the company and one-half share purchase warrant. Each one-half warrant has a 12-month expiry and an exercise price of 25 cents. The warrant will be subject to an accelerated exercise clause in the event the company's share price valued at 30 cents or more for 10 consecutive trading days on a volume-weighted average price basis.

Explanation for the upsize

The original $10-million private placement provided sufficient capital to execute on several key objectives. Those items included satisfying the final $6-million payment required to close the Caribou processing complex transaction, finance the upcoming metallurgical program and meet the company's environmental impact assessment submittal schedule of H1 2026. To further extend the company's liquidity trajectory and reduce execution risk with the upcoming 2026 design and engineering field work season, the company will increase the company's access to an additional $5-million in working capital. It is expected these funds will provide necessary liquidity into Q1 2027.

Simon Quick, chief executive officer of Canadian Copper, stated: "Near-term development projects with a care and maintenance component require a sufficient level of working capital for timely execution. Dilution is challenging, but we believe it is necessary to deliver on our near-term development strategy. To date, more than 85 per cent of the current private placement participants are from existing shareholders of Canadian Copper. We thank both our current and welcome our new shareholders who are a strong complement to the share registry. We will be judicious in how we allocate further units in excess of the previously announced $10-million financing as we advance Canadian Copper's next growth phase."

Upsized private placement -- use of proceeds

In addition to the previously announced use of proceeds discussed in the private placement announcement on Sept. 16, 2025, additional available capital would be used to:

1. Accelerate certain key development and field activities planned to occur later in 2026:
   1. Request for proposals of key activities will be delivered in Q4 2025 such that key activities can start early in 2026.
2. Provide additional capital to maintain and improve the Caribou process complex over a longer period;
3. Evaluate ways to improve the company's project development schedule by stacking certain activities previously designed to be performed sequentially.

The private placement is expected to close on Nov. 12, 2025, subsequent to the approval of the shareholders at the special meeting.

Special meeting of shareholders

The special meeting of shareholders will be held Nov. 10, 2025, at 11 a.m. (Toronto time) via Microsoft Teams. Meeting materials are being mailed out and will be available on SEDAR+.

The purpose of the special meeting is to:

1. Approve the size of the private placement, issuing more than 50 per cent of the current issued and outstanding shares of the company;
2. Approve the upsized private placement, issuing more than 100 per cent of the current issued and outstanding shares of the company;
3. Approving the participation of Ocean Partners, thereby creating a new control person in the company.

Caribou processing complex acquisition timeline

Detailed discussions between the company and the province of New Brunswick related to Caribou processing complex hand-over activities continue to progress well. The company plans to close the Caribou processing complex transaction in Q4 2025.

About Canadian Copper Inc.

Canadian Copper is a Canadian-based mineral exploration and development company with defined copper and other base metals resources. The company is focused on the prolific Bathurst mining camp (BMC) of New Brunswick, Canada. There are currently 105,031,836 shares issued and outstanding in the company.

We seek Safe Harbor.