Mr. Craig Hallworth reports

GUNNISON COPPER ANNOUNCES PARTNERSHIP WITH ARIZONA STATE GOVERNMENT AND ARIZONA COMMERCE AUTHORITY

Gunnison Copper Corp. has received approval under the Arizona Commerce Authority's (ACA) Qualified Facility Tax Credit (QFTC) program for its Arizona operations which will result in a non-dilutive refundable tax credit funding source for the company.

The QFTC program is designed to support significant capital investment and high-quality job creation in Arizona through refundable state income tax credits tied to qualifying investments and net new full-time employment. The approval further reinforces Gunnison Copper's growing alignment with United States domestic critical mineral priorities through the manufacturing of copper cathode and adds to the company's expanding record of government and institutional support as it advances copper production and development activities in Arizona.

"This approval reflects the strong support we have in Arizona for our operations and direct financial support from the Arizona Commerce Authority providing this non-dilutive funding to support our manufacturing of pure American copper in this great state," said Craig Hallworth, president and chief executive officer of Gunnison Copper. "As we continue advancing our made-in-America copper platform, we remain focused on creating high-quality jobs, working collaboratively with local communities and stakeholders, and supporting secure domestic supply chains for critical industries including infrastructure, manufacturing, energy, data centres and defence."

The QFTC approval follows several recent milestones supporting Gunnison's strategic positioning as an emerging U.S. copper producer, including previously announced government-related support and inclusion in critical mineral development programs. The company continues to advance its strategy focused on strengthening domestic copper supply chains while generating long-term value for shareholders and regional communities.

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. Roland Goodgame, senior vice-president of project development of the company, is a qualified person as defined by National Instrument 43-101. Dr. Goodgame has reviewed and is responsible for the technical information contained in this news release.

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