Mr. Simon Quick reports

CANADIAN COPPER INC. ANNOUNCES CLOSING OF $44M PROJECT FINANCING WITH OR ROYALTIES INC.

Canadian Copper Inc. has closed its precious metals stream and equity subscription of up to $43.83-million with OR Royalties Inc., a global top-five precious metal streaming company, to advance development of its 100-per-cent-owned Murray Brook project and Caribou process plant. The project financing represents a significant derisking milestone as the company aims to become a near-term critical mineral producer in Bathurst, N.B., Canada. A total of $12.5-million was received from OR Royalties on July 16, 2026. Amounts presented are in Canadian dollars assuming a Canadian-dollar exchange rate (U.S. dollar/Canadian dollar) of 1.40.

Simon Quick, chief executive officer of Canadian Copper, stated: "July is off to a productive start. The company received a positive court vesting order regarding our Caribou process plant acquisition; we registered the EIA with the New Brunswick Department of Environment and local government just three days ago, a first for the province since 2013. Closing our precious metal stream financing and equity subscription with OR Royalties was our next milestone as we simultaneously advance our feasibility study in parallel with starting the provincial permitting approval process. We look forward to seeing drill core this month as we increase our exploration efforts in close proximity to the Murray Brook deposit."

OR Royalties financing impact on company balance sheet

As of April 30, 2026, the company had available cash of $17.3-million. The OR Royalties investment results in an additional cash inflow of $12.5-million to support Murray Brook permitting, engineering and development activities. The company anticipates an additional $31.5-million to be available to draw from the OR Royalties project financing package to finance the construction of the Bathurst complex. This capital plus further liquidity available from the Ocean Partners U.K. Ltd. electable $48-million in project debt announced April 14, 2026, positions the company well for project development.

The company also currently has 36.8 million in-the-money warrants priced at 25 cents that, if fully exercised, would result in proceeds to Canadian Copper of $9.1-million. These warrants are subject to a forced acceleration clause at the company's election and expire in November, 2026. For illustration purposes only, the company has an approximate cash balance of $32.6-million (1) net of the Caribou acquisition cost as of today if all warrants were exercised.

OR Royalties project financing structure

Pursuant to the terms of the precious metals purchase agreement entered into between OR Royalties and the company on April 13, 2026, as amended, OR Royalties will provide up to $38.35-million in exchange for the company delivering 20 per cent of the payable silver and gold from the Bathurst complex. OR Royalties will purchase 20 per cent of the payable silver and gold produced by the company at a cash purchase price equal to 20 per cent of the spot price for silver and gold, with the remaining 80 per cent credited against the deposit advanced by OR Royalties until the deposit is reduced to nil, after which only the 20 per cent cash price is payable.

The OR stream consists of:

1. A $7.02-million upfront deposit payable upon closing. This was paid by OR Royalties on July 16, 2026;
2. $31.5-million, the balance of the deposit under the OR stream, payable in quarterly instalments throughout the construction period of the Bathurst complex and subject to customary conditions precedent.

Further, OR Royalties has completed a $5.48-million equity subscription for Canadian Copper common shares, consisting of 7,306,666 common shares at a price of 75 cents per share, a 20-per-cent premium to our closing price as announced on April 14, 2026.

Construction financing instalments will be contingent upon typical industry-standard conditions, including completing customary milestones, such as obtaining all remaining required permits for the Bathurst complex development, company board approval for construction, material agreements for execution, full financing to completion available at the time of each instalment, a comprehensive financial model to support a minimum debt service coverage ratio, as well as other factors.

Advisers

Ventum Financial Corp. acted as financial adviser to Canadian Copper in connection with the OR financing package. The company will pay $328,800 to Ventum, representing a 6-per-cent commission, as a finder's fee in connection with the OR equity financing.

About Canadian Copper Inc.

Canadian Copper is a Canadian-based mineral development company with a 100-per-cent-owned copper, zinc and silver portfolio of mineral resources, as well as other base metal exploration assets. The company is focused on the prolific Bathurst mining camp (BMC) of New Brunswick, Canada. There are currently 200,373,921 shares issued and outstanding in the company.

(1) April 30, 2026, cash balance of $17.3-million plus full warrant exercise of $9.1-million plus OR financing payment of $12.5-million to $6.3-million for the Caribou transaction payment.

We seek Safe Harbor.