Mr. Terry MacDonald reports

COPPER LAKE ANNOUNCES C$1.0 MILLION NON-BROKERED SECURED DEBENTURE FINANCING

Copper Lake Resources Ltd. has arranged a non-brokered private placement of units of the company for aggregate gross proceeds of up to $1-million, with each unit having a price of $1,000 per unit and consisting of: (i) one secured, non-convertible debenture in the principal amount of $1,000 (a summary of the terms and conditions described below); and (ii) such number of common share purchase warrant as is equal to the aggregate principal amount of such purchaser's debentures divided by 19 cents, being the market price (as defined in the policies of the TSX Venture Exchange) of the common shares immediately prior to the announcement of the offering. As an illustrative example, if a purchaser acquires debentures having an aggregate principal amount of $100,000, such purchaser shall acquire 526,315 warrants. Each warrant will be non-transferable and entitle the holder thereof to purchase one common share of the company at an exercise price of 19 cents per common share for a period of 12 months from the date of issuance, subject to customary adjustment provisions and the policies of the TSX Venture Exchange.

The debentures will bear interest at 15 per cent per annum and mature 12 months from the date of issuance. The debentures are non-convertible and will constitute direct secured obligations of the company, ranking pari passu with all the debentures issued pursuant to the offering, and will be secured by a general security interest over substantially all of the assets of the company, subject to applicable law and regulatory approvals.

The warrants associated with each unit are deemed to be bonus warrants under TSX-V Policy 5.1.

The company intends to use the net proceeds to advance exploration at its Marshall Lake project, strengthen working capital, satisfy certain outstanding obligations and finance general corporate purposes.

The debentures and the warrants (and the common shares issuable upon the exercise of the warrants (if any)) will be subject to a four-month-and-one-day resale restriction from the date of issuance of the debentures pursuant to applicable Canadian securities laws and the policies of the TSX-V.

Subject to the satisfaction of customary conditions, including receipt of approval of the TSX-V, as well as finalization and execution of definitive documentation, the offering is expected to close on or about the week of July 20, 2026, and may close in one or more tranches.

About Copper Lake Resources Ltd.

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

The Marshall Lake high-grade volcanogenic massive sulphide copper, zinc, silver and gold project comprises an area of approximately 220 square kilometres located 120 km north of Geraldton, Ont., and is just 22 km north of the main CNR rail line. Copper Lake has an 82.97-per-cent 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 per cent owned and not subject to any royalties. These newer claims add approximately 30 square kilometres 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 per cent owned by the company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of four square kilometres on the east side of the Marshall Lake property where historical electromagnetic airborne geophysical surveys have outlined strong conductors on the property hosted within the same favourable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square kilometres, 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 first nations.

Copper Lake has a 69.79-per-cent joint venture interest in the Norton Lake nickel, copper, cobalt and palladium PGM property, located in the southern Ring of Fire area, approximately 100 km north of the Marshall Lake property. The company filed an updated National Instrument 43-101 in October, 2023, with a mineral resource of open-pit and underground measured and indicated resources of 1,795,000 tonnes at an average grade of 0.72 per cent nickel, 0.69 per cent copper, 339 parts per million cobalt, 0.52 gram per tonne palladium and 0.17 g/t platinum and containing 28.3 million pounds of nickel and 27.3 million pounds of copper. The Norton Lake property is located in the traditional territories of Eabametoong (Fort Hope) and Neskantaga first nations.

We seek Safe Harbor.