Mr. Craig Hallworth reports

GUNNISON COPPER ACCELERATES DISTRICT-WIDE DRILL PROGRAM, PREPARING FOR SIX-RIG EXPANSION AND UPCOMING PRELIMINARY METALLURGICAL RESULTS

Gunnison Copper Corp. has provided an update on its previously announced 2026 district-wide drill program, which is designed to support metallurgical optimization, resource expansion and resource conversion across the Gunnison copper project in Arizona.

Two drill rigs are currently active on site, with the initial phase of metallurgical drilling at the Gunnison deposit now complete. Core samples have been collected and submitted to independent laboratories for analysis and will support the company's continuing metallurgical optimization program. Metallurgical drilling has now commenced at the Strong & Harris deposit. The company has also initiated and expanded its column leach testing program, with 68 of the now planned 405 tests (previously 270 tests) currently in process. The metallurgical test program now also includes 63 flotation tests for recovery of copper, zinc and silver contained in sulphide ores to assess a flotation approach option for the sulphide zones.

Construction of Gunnison's new core logging and storage facility is also progressing well and is expected to be completed by September. With the new core shed nearing completion, the company expects to increase from two to six drill rigs in September as it accelerates the next phase of the program. The expanded campaign will continue to advance key objectives at Gunnison and Strong & Harris, including:

• Metallurgical optimization through comprehensive test work;
• Resource expansion by testing extensions of known mineralization and identifying new mineralized zones;
• Resource conversion by upgrading inferred resources toward measured and indicated classifications;
• Further defining the broader district-scale mineralized system, including potential for discovery of additional undercover carbonate replacement deposits like Strong & Harris.

The 2026 drill program is expected to include up to 120 drill holes totalling approximately 138,000 feet (42,000 metres) and represents an investment of over $15-million (U.S.). The program also includes:

• Metallurgical work includes up to 36 drill holes totalling approximately 33,000 feet (10,000 metres) and up to 405 column leach tests, as well as 63 flotation tests for recoveries of copper, zinc and silver from sulphide copper ores using a flotation approach, over the next 12 months.
• Resource expansion and conversion drilling includes up to 84 drill holes totalling approximately 105,000 feet (32,000 metres) across the Gunnison and Strong & Harris deposits.

The company currently expects to publish preliminary results from the 2026 district-wide drill program in the fourth quarter of 2026, with full results anticipated in mid 2027.

Craig Hallworth, president and chief executive officer of Gunnison Copper, commented: "We are pleased with the progress made during the first phase of our district-wide drilling program. Completing the initial metallurgical drilling at Gunnison and advancing work at Strong & Harris are important milestones as we continue to optimize the project and unlock additional value across the district. With six drill rigs expected to be operating in September, we'll significantly increase the pace of drilling as we begin an exciting phase focused on expanding and upgrading the resource base. We believe the district offers exceptional potential to add additional mineral resources as well as the possibility of recovering payable zinc and silver byproduct credits, and we look forward to sharing preliminary results as they become available later this year."

About Gunnison Copper Corp.

Gunnison Copper is a multiasset pure play copper developer and producer that controls the Cochise mining 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 million tons with a total copper grade of 0.33 per cent containing 5.19 billion pounds of copper (measured mineral resource of 192 million tons at 0.37 per cent containing 1.42 billion pounds of copper and indicated mineral resource of 655 million tons at 0.31 per cent containing 3.77 billion pounds of copper).

The Strong & 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 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 ounce per ton 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 a net present value (discounted at 8 per cent) of $2-billion, an internal rate of return of 23 per cent and a payback period of 3.9 years. It is being developed as a conventional operation with open-pit mining, heap leach and an SX/EW (solvent extraction/electrowinning) 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.

For additional information on the Gunnison project, please refer to the technical report titled "Gunnison Project NI 43-101 Technical Report, Preliminary Economic Assessment, Cochise County, Arizona, USA," with an effective date of March 18, 2026, filed on SEDAR+.

For additional information on the Johnson Camp mine, please refer to the technical report titled "Johnson Camp Mine NI 43-101 Technical Report, Cochise County, Arizona, USA," with an effective date of March 18, 2026, filed on SEDAR+.

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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