Mr. Craig Hallworth reports

GUNNISON COPPER APPOINTS FORMER HUDBAY MINERALS COO ANDRE LAUZON TO BOARD OF DIRECTORS

Gunnison Copper Corp. has appointed Andre Lauzon, former chief operating officer of Hudbay Minerals Inc., to the company's board of directors.

Mr. Lauzon is a senior mining executive with more than 30 years of experience spanning mine development and construction, project optimization, operations, technical services, permitting, capital allocation, and executive management. His extensive experience advancing and optimizing large-scale copper projects is particularly relevant as Gunnison advances its flagship Gunnison copper project through its next stages of engineering, optimization, permitting and development.

Most recently, Mr. Lauzon served as chief operating officer of Hudbay Minerals, where his responsibilities included oversight of the company's international operations, technical services, exploration, business development and major capital projects. His experience includes executive oversight of a $1.5-billion (U.S.) project entering construction, as well as two additional Tier 1 greenfield development projects. He also established a corporate capital toll-gating process for major projects, providing disciplined technical and investment review from concept through commissioning.

Mr. Lauzon previously led Hudbay's Arizona business unit, where he was responsible for advancing the Rosemont and Copper World copper projects. During this period, he helped lead the identification of additional deposits and the evolution of what is now the Copper World project. His experience in Arizona encompasses project optimization, permitting, environmental management, health and safety, community relations, and major capital investment.

Mr. Lauzon also led the transformation of Hudbay's Copper Mountain operation in British Columbia, directing a three-year, approximately $400-million capital program that significantly expanded mining capacity, reconfigured the processing flowsheet and extended the operation's long-term potential. Previously, as vice-president of Hudbay's Manitoba business unit, he guided the operational transformation that established the business as one of Canada's lowest-cost gold producers.

Mr. Lauzon also brings significant public company board and transaction experience. From 2023 to 2026, he served as an independent director of Rupert Resources Ltd., where he chaired the technical committee as the company's flagship project advanced from prefeasibility toward feasibility and participated in the strategic process that culminated in Rupert's acquisition by Agnico Eagle Mines Ltd. for approximately $3-billion.

Craig Hallworth, president and chief executive officer of Gunnison Copper, commented:

"I had the opportunity to work closely with Andre for several years at Hudbay Minerals, and I consider him one of the most talented technical and operational mining executives I have worked with. Quite simply, Andre has an exceptional ability to look at a complex mining project, identify opportunities that others may not see, and develop practical solutions that can fundamentally improve its technical and economic potential.

"That capability is particularly valuable to Gunnison today. As we advance the Gunnison copper project through engineering, optimization and ultimately construction, we are assembling a board with the experience to help us make the decisions that can maximize the value of this exceptional asset. Andre has spent his career optimizing, permitting, building, and improving major mining operations and development projects, including large-scale copper projects here in Arizona. Having worked with him personally, I know the calibre of thinking and experience he brings, and I am extremely pleased to have him joining our board."

Mr. Lauzon commented:

"I am thrilled to join the board of Gunnison at such a pivotal moment for U.S. critical minerals supply chain. I strongly believe that the company is among the rare few compelling undeveloped copper assets in America. I look forward to joining the board to help Gunnison daylight the significant underlying shareholder value blueprinted in the recent technical report."

Conversion of remaining convertible debenture

Gunnison also announces that a subsidiary of Triple Flag Precious Metals Corp. has converted the remaining $1.5-million (U.S.) principal amount outstanding under its convertible debenture at the applicable conversion price of 19 U.S. cents per share, resulting in the issuance of 7,894,736 common shares of Gunnison. Triple Flag has also converted $545,753 (U.S.) of accrued interest into 1,641,193 common shares, based on the volume-weighted average trading price of Gunnison's common shares on the Toronto Stock Exchange for the five trading days immediately preceding Sept. 30, 2026, converted into U.S. dollars in accordance with the terms of the debenture.

Following the conversion, the Triple Flag debenture has been fully satisfied, and Gunnison has no remaining outstanding debt.

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 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 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 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/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 an NPV (net present value) 8 per cent 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 approved the technical information contained in this news release.

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