Mr. Terry MacDonald reports

COPPER LAKE ANNOUNCES SHARE CONSOLIDATION

Copper Lake Resources Ltd. intends to consolidate the common shares in the capital of the company on the basis of one postconsolidation common share for 20 preconsolidation common shares, effective as of Friday, May 8, 2026.

The company currently has 271,003,770 common shares issued and outstanding, and following the consolidation, the company will have approximately 13,550,188 common shares issued and outstanding, prior to rounding for fractional shares. The company's outstanding options (19.5 million) and warrants (15,896,000) will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices.

The consolidation was approved by the shareholders on June 12, 2025, and the board of directors of the company in accordance with the articles of the company, but remains subject to the approval of the TSX Venture Exchange. The shareholder approval expires on June 12, 2026. The company name and stock symbol remain unchanged. The new Cusip number for the postconsolidation shares will be 21750Y 20 2.

Upon completion of the consolidation and exchange approval, a letter of transmittal will be mailed by the company's transfer agent (Odyssey Trust Company) to shareholders holding physical share certificates, advising that the consolidation has taken effect and shareholders should surrender their existing (pre-consolidation) common share certificates, for new (postconsolidation) common share certificates. No fractional common shares of the company shall be issued in connection with the consolidation and the number of common shares to be received by a shareholder shall be rounded down to the nearest whole number.

About Copper Lake Resources Ltd.

Copper Lake Resources is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario.

The Marshall Lake high-grade VMS (volcanogenic massive sulphide) copper, zinc, silver and gold project comprises an area of approximately 220 square kilometres, located 120 km north of Geraldton, Ont., and is just 22 km north of the main CNR (Canadian National Railway) rail line. Copper Lake has an 82.97-per-cent interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100 per cent owned and not subject to any royalties. These newer claims add approximately 30 square km to the property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100 per cent owned by the company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of four square km on the east side of the Marshall Lake property, where historical EM (electromagnetic) airborne geophysical surveys have outlined strong conductors on the property hosted within the same favourable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of Aroland and Animbiigoo Zaagi'igan Anishinaabek (AZA) first nations.

Copper Lake has a 69.79-per-cent joint venture interest in the Norton Lake nickel, copper, cobalt and palladium PGM (platinum group metal) property, located in the southern Ring of Fire area, approximately 100 km north of the Marshall Lake property. The company filed an updated National Instrument 43-101 report in October, 2023, with a mineral resource of open-pit and underground measured and indicated resources of 1,795,000 tonnes at an average grade of 0.72 per cent nickel (Ni), 0.69 per cent copper (Cu), 339 parts per million (ppm) cobalt (Co), 0.52 gram per tonne (g/t) palladium (Pd) and 0.17 g/t platinum (Pt), and containing 28.3 million pounds (lb) of nickel and 27.3 million lb of copper. The Norton Lake property is located in the traditional territories of Eabametoong (Fort Hope) and Neskantaga first nations.

We seek Safe Harbor.