Ms. Melissa Mackie reports

GUNNISON COPPER PROMOTES CRAIG HALLWORTH TO CEO AND STRENGTHENS LEADERSHIP TO ADVANCE FLAGSHIP GUNNISON PROJECT AND POSITIONS FOR GROWTH

Gunnison Copper Corp. has promoted Craig Hallworth to president and chief executive officer, alongside a series of senior leadership and technical team additions and promotions designed to strengthen the company's capabilities as it advances its flagship Gunnison copper project through key derisking milestones, including the completion of a prefeasibility study (PFS) targeted for Q2 2028 and associated permit amendments.

Mr. Hallworth previously served as senior vice-president and chief financial officer, where he led the strengthening of the company's balance sheet, including the elimination of secured debt, a significant expansion of its institutional shareholder base and improvements in the economics of the Gunnison copper project. He also led the company's strategic repositioning and relaunch as Gunnison Copper, aligning the business with a renewed focus on its flagship asset. He brings deep familiarity with the company's asset portfolio and strategy as it enters a critical phase focused on delivering resource expansion and key derisking milestones, including its metallurgical test program, PFS and permit amendments.

"This promotion reflects the board's confidence in Craig's leadership as the company enters its next phase," said chairman Fred DuVal. "He has been instrumental in strengthening the balance sheet, expanding our institutional shareholder base and leading the company's strategic repositioning as Gunnison Copper. With a strengthened leadership and technical team in place, we believe the company is well positioned to advance its flagship project through PFS and permitting with discipline and clarity."

Mr. Hallworth is replacing Dr. Stephen Twyerould who has led the company since 2010 and who has decided to step down as president and chief executive officer as part of a planned transition to retirement. Dr. Twyerould will remain on the company's board of directors. The board thanks Mr. Twyerould for his leadership in founding and advancing the company and positioning its flagship project for its next stage of development and growth.

"I would like to thank the board, our shareholders, stakeholders, and employees for their support and persistence over the years," said Dr. Twyerould. "I am incredibly proud of what we have built together and confident the leadership of the company is in good hands with Craig Hallworth as CEO. The new and existing talent within the organization bodes well for achieving the major milestones set out over the next several years."

In conjunction with Mr. Hallworth's promotion, the company has strengthened its leadership across permitting, legal, investor relations and finance, while also adding key technical capabilities in metallurgy and geology. These appointments and promotions enhance the company's ability to execute on critical workstreams, including permitting, stakeholder engagement, metallurgical testing and resource development, and align the organization with the requirements of the next stage of project advancement.

"We have made meaningful progress over the past year and a half, gaining significant momentum in the market, and increasing confidence in our strategy and ability to execute as Gunnison Copper," said Mr. Hallworth. "With an enhanced leadership and technical team, including key internal promotions in place, we are focused on delivering our prefeasibility study and permit amendments, while continuing to advance the project toward construction and production of finished copper for the U.S. domestic market."

The company also announced that Brian Penney will be nominated to join its board of directors at the company's annual general meeting scheduled for June 25, 2026. Mr. Penney is a seasoned mining executive with extensive experience in building and operating large-scale mining operations, he is currently CEO of Tacora Resources and was previously CEO of Baffinland Iron Mines. He brings deep expertise in project development, operations and financing, further strengthening the company's governance and oversight as it advances its flagship project.

Mr. Hallworth's promotion will be effective May 15, 2026, and at that time Fabio Rocha will be appointed as interim chief financial officer. The company intends to undertake a process to appoint a permanent chief financial officer.

Leadership appointments and promotions

The following leadership appointments and promotions reflect the company's focus on strengthening permitting, technical, regulatory and capital markets capabilities:

Matt Bingham, appointed senior vice president, permitting and external affairs. Mr. Bingham is a mining and environmental attorney with deep expertise in U.S. permitting, public lands and government relations. He previously held senior roles at Hudbay Minerals, where he led legal, permitting and public affairs efforts for the Copper World project.

Olen Aasen, promoted to general counsel and corporate secretary. Mr. Aasen is a corporate and securities lawyer with over 20 years of experience advising public companies across mining and other industries. He began his career at Blake, Cassels & Graydon LLP, and will oversee the company's legal, governance and compliance functions. Mr. Aasen's appointment as corporate secretary will be effective June 1, 2026.

Melissa Mackie, promoted to vice president, investor relations and communications. Ms. Mackie has led the company's investor relations and communications strategy since July, 2025, significantly expanding investor engagement and market awareness. She brings over 10 years of experience in capital markets and investor communications within the mining sector.

Fabio Rocha, promoted to interim chief financial officer. Mr. Rocha has experience in financial leadership roles within the mining sector and will support the company's financial strategy during this transition period. Prior to his promotion, Mr. Rocha served as Gunnison Copper's director, accounting and reporting.

Technical team additions

Ron Nunley, appointed chief metallurgist. Mr. Nunley is a seasoned metallurgist with extensive experience in copper processing and heap leach optimization. He previously held roles at Rio Tinto and Freeport McMoran, supporting large-scale copper operations and metallurgical programs focused on improving recoveries and operational efficiency.

Perseo Anaya, appointed chief geologist. Mr. Anaya is an experienced exploration and resource geologist with a strong record in copper systems, resource modelling and advancing projects through technical studies across the Americas. He previously held roles at Agnico Eagle Mines, Goldcorp and Silver Standard Resources.

About Gunnison Copper Corp

Gunnison Copper is a multiasset pure-play copper developer and producer that controls the Cochise mining district (the district), containing 12 known deposits within an eight-kilometre economic radius, in the Southern Arizona copper belt.

Its flagship asset, the Gunnison copper project, has a main pit measured and indicated mineral resource containing over 846.1 million tons with a total copper grade of 0.33 per cent (measured mineral resource of 191.5 million tons at 0.37 per cent and indicated mineral resource of 654.5 million tons at 0.31 per cent).

The Strong and Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing facilities, is also included in the mine plan and hosts an inferred mineral resource of 76.1 million tons grading 0.49 per cent total copper (0.32 per cent CuOx) at a 0.07 per cent cut-off, 0.56 per cent zinc and 0.12 per cent silver, containing approximately 740 million pounds of copper, including 483 million pounds of oxide copper, as well as zinc (856 million pounds) and silver (9.0 million ounces).

A preliminary economic assessment (PEA) was completed in March, 2026, for the Gunnison project yielding robust economics including an NPV (net present value) 8 per cent (discount rate) of $2-billion, IRR (internal rate of return) of 23 per cent and payback period of 3.9 years. It is being developed as a conventional operation with open pit mining, heap leach and SX/EW refinery to produce finished copper cathode on site with direct rail link. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

In addition, Gunnison's Johnson Camp asset, which is now in production, is fully financed by Nuton LLC, a Rio Tinto venture, with a production capacity of up to 25 million pounds of finished copper cathode annually.

Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison project infrastructure, include South Star and eight other deposits.

Dr. Stephen Twyerould, fellow of AUSIMM, president and chief executive officer of the company, is a qualified person as defined by National Instrument 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this news release.

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