Mr. Stephen Swatton reports

COPPERCORP ANNOUNCES FULLY PERMITTED 1,750-METRE DRILL PROGRAM AT JASPER HILLS, TASMANIA

Coppercorp Resources Inc. will conduct a fully permitted, two-phase diamond drilling program totalling approximately 1,750 metres (m) at its 100-per-cent-owned Jasper Hills project in western Tasmania, Australia. Phase 1 mobilization is scheduled for January, 2027, with drilling to begin in the first quarter of 2027. The company has also been awarded a $100,000 (Australian) co-funding grant through the Tasmanian government's exploration drilling grant initiative (EDGI) for Jasper Hills.

Key highlights:

• Fully permitted 1,750 m program: four-hole diamond drilling campaign designed to test high-priority underground targets, identified by electromagnetic (EM) surveys, beneath the historical high-grade copper-gold workings at Old Jasper;
• Phase 1 (800 m): hole 1 has a planned depth of 450 metres and will test beneath historical copper-gold workings and one EM target, and hole 2 has a planned depth of 350 metres and will test two EM targets;
• Phase 2 (950 m): two follow-up drill holes targeting interpreted downdip and along strike extensions, subject to phase 1 results;
• Compelling geological footprint: targeting volcanogenic-hosted Cu-Au (copper-gold) units over a surface area of one kilometre (km) by 500 m supported by rock chip samples returning up to 16.45 per cent Cu and 10.10 grams per tonne (g/t) Au, coincident with a more-than-155-part-per-million (ppm) Cu soil anomaly and untested EM conductor plates.

Stephen Swatton, president and chief executive officer of Coppercorp, commented:

"This initial two-hole program will give us a clear answer. By drilling directly into the projected EM conductor, we will determine whether the unit identified is the likely source of the high-grade copper seen at surface at the historical Old Jasper mine. This is the first of three high-priority prospects in the Jasper-AMC district we plan to drill in 2027.

"With the sale of the Skyline tenements, we are well placed to focus on a more targeted exploration program at the AMC and Jasper Hills projects, which formed the core of Coppercorp's original land package."

Drill program overview

The target of this drill campaign is to intersect shallow high-grade copper-gold mineralization hosted in a varied metavolcanic-metasedimentary host.

The planned program targets southwest-dipping conductor plates modelled from historical airborne versatile time-domain electromagnetic (VTEM) and downhole electromagnetic (DHEM) data that have not been adequately tested by historical shallow drilling (1).

The first hole (450 m) will drill directly beneath the Old Jasper historical mine workings where high-grade copper and gold have been previously sampled at surface (2). Hole 1 will also test a southwest-dipping VTEM conductor beneath the historical mine workings. Additionally, the hole will provide important geological information of the main copper-gold host unit at the prospect.

The second hole (350 m) will be collared 320 metres west of the first hole and will target a DHEM conductor plate beyond the depth historical hole SJ-1 was drilled. Hole 2 will then proceed to test the second EM target, the downdip extension of the VTEM conductor plate.

Limited historical drilling at Jasper Hills (1988 and 2013 (3)) comprised 14 shallow RC (reverse circulation) percussion holes (483 m in total) drilled in 1988 and four diamond core holes (620.5 m in total). The RC program was abandoned because of drilling difficulties and most holes did not reach their target depths, so the results are considered inconclusive. Only part of the core from the historical diamond holes were sampled (between 1 per cent and 55 per cent of the core in individual holes) (3).

Three of the four historical drill holes returned encouraging results including (3):

• JD2: three m at 2.05 per cent Cu from 115 m;
• JD3: 0.3 m at 2.25 per cent Cu, 6.6 g/t silver (Ag) and 0.28 g/t Au from 26.3 m;
• SJ-1: 0.23 m at 0.82 per cent Cu and 0.19 g/t Au from 101 m.

JD1 -- collared approximately 120 m south and drilled vertically to a depth of 50 m.

JD2 -- collared approximately 400 m south of the mapped Old Jasper mine location and drilled vertically to a depth of 217 m.

JD3 -- collared approximately 60 m south-southeast and drilled at a dip of minus 50 degree and an azimuth of 068 degrees, to a downhole length of 63 m.

SJ-1 -- collared approximately 600 m west and drilled at a dip of minus 50 degree and an azimuth of 045 degrees, to a downhole length of 290.5 m.

Geological context and historical sampling

Copper-gold mineralization at Jasper Hills occurs as vein and disseminated to blebby chalcopyrite with secondary bornite, covellite, chalcocite and malachite. The high-grade copper mineralization is hosted in a variety of silica-altered basalt, pyroxenite and sedimentary rocks, and is currently interpreted to be related to a possible VMS-style (volcanogenic massive sulphide) primary volcanogenic system (Cambrian age), with possible later remobilization and upgrading in structurally hosted positions during Devonian-age granite intrusion events (2).

Previous explorers completed the soil geochemical survey (4) with more than 155 ppm copper-in-soil anomaly delineating the trend between Old Jasper and New Jasper has been previously reported by Coppercorp (2).

Coppercorp's 2023 rock chip sampling highlighted strong copper-gold grades at surface (2):

• 63001: 16.45 per cent Cu in rock chip grab samples;
• 63008: 14.35 per cent Cu with 1.34 g/t Au;
• 63023: 10.10 g/t Au with 1.67 per cent Cu.

Rock chip grab samples are selective in nature and may not represent average mineralization grades across the prospect.

Corporate strategy

Following the binding agreement to divest the Skyline tenements to Bubalus Resources Ltd. (4), announced oct. 26, 2026, Coppercorp is focusing its exploration on its core Tasmanian assets: the AMC project (556 square km) and the Jasper Hills project (70 square km). The company is initiating drilling at Jasper and will then advance to the Cu-Au prospects in the southern AMC. The size and order of campaigns will be set by continuing drill results. The strategy is to drill or kill: drill fast, then decide quickly whether to continue based on results.

Sampling, QA/QC (quality assurance/quality control) and analytical procedures

Coppercorp's rock chip samples from the Jasper Hills prospect reported in this news release are grab samples collected from surface outcrop, subcrop or float occurrences, and historical mine working rock piles. Some samples may be selective and taken from both well-mineralized and poorly or unmineralized material in order to determine the range of elemental concentrations in an area. This style of grab sampling enables preliminary indicative metal grade and rock elemental compositions to be ascertained, however, it is not as representative as continuous chip channel sampling or drilling. Rock chip samples were collected, logged and photographed by a Coppercorp staff geologist. The samples are bagged and ticketed prior to delivery by company personnel to the ALS commercial laboratories in Burnie, Tasmania, for sample preparation. The rock samples are crushed to 80 per cent passing two millimetres (mm), riffle split to 500 grams (g) and then pulverized to pass 75 microns. Coarse duplicate sampling is conducted every 20 samples to assess variability of the coarse crush. Cu and multielement assay is by four-acid digest followed by ICP-MS (inductively coupled plasma mass spectrometry) at ALS laboratories by method ME-MS61r. Overrange (high-grade) Cu samples are further assayed by method Cu-OG62. Au assay is by 30 g fire assay at ALS laboratories by method Au-AA25.

Geophysical reprocessing and interpretation

The EM conductor at Jasper Hills was confirmed through a comprehensive re-evaluation of geophysical data from 2008 airborne VTEM and 2013 downhole EM (DHEM) surveys carried out at the prospect by previous explorers.

Coppercorp engaged specialized consultants to undertake reprocessing and remodelling of the historical data using modern algorithms and improved conductivity modelling techniques. Extensive imaging of the VTEM EM Z component dB/dt decay time channel data was completed, along with CDI 1-D modelling of the VTEM survey data along flight lines, which was then gridded into 3-D models. A suite of data products was generated from the model data, including a 3-D conductivity block model and RL elevation slice images. Conductor plate modelling of the VTEM and DHEM data was completed to assist with targeting and drill planning. Cross-validation of the remodelled data against known geology, surface geochemistry, previous drilling and historical mine workings was carried out by Coppercorp geologists.

Qualified person and technical governance

Tim Callaghan, a member of the Australian Institute of Geoscientists (AIG), is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information contained in this news release.

Information on historical prospecting, mining and exploration activities at the Jasper Hills prospect contained within this news release has been reviewed and verified by the qualified person (QP). Historical data are considered sufficiently consistent between generations of past explorers and sufficiently consistent with recent results to provide confidence that compiled and reviewed assay results are indicative of the tenor of the samples. In the opinion of the qualified person, sufficient verification of the data has been undertaken to provide sufficient confidence that past exploration programs were performed to adequate industry standards and the data reported are fit for substantiating the prospectivity of the project in general, supporting the geological model/s proposed, planning exploration programs and identifying/generating targets for further investigation.

This news release contains information about adjacent properties on which the company does not have an interest. The qualified person has been unable to verify the information on these adjacent properties and the information is not necessarily indicative to the mineralization on the properties that is the subject of this news release.

(1) Coppercorp news release dated June 16, 2025: "Coppercorp Confirms Large Untested EM Anomaly Beneath Historical Cu-Au Mine at Jasper Hills, Tasmania."

(2) Coppercorp news release dated April 26, 2023: "Rock Chip Sampling Returns up to 16.45 per cent Cu, 10.1 g/t Au, 37.9 per cent Zn+Pb, 612 g/t Ag and 1.05 per cent Sn at Jasper Hills Prospect."

(3) Rigg and Morrison, 2013: Stellar Resources Ltd., EL40/2010 Heazlewood Hill annual report for the period from June 1, 2012, to May 31, 2013. MRT report ID 13-6653.

(4) Coppercorp news release dated Oct. 26, 2026: "Coppercorp Announces the Sale of the Skyline Copper-Gold Project."

About Coppercorp Resources Inc.

Coppercorp is a mineral exploration company focused on copper-gold exploration in western Tasmania, Australia. The company holds 100-per-cent interests in the AMC project (556 square km) and the Jasper Hills project (70 square km), situated in a historic mining district with established infrastructure including road, rail, power and commercial port facilities. Coppercorp is headquartered in Vancouver, B.C., with a regional field office and core logging facility in Zeehan, Tasmania.

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