Mr. Nicholas Van Dyk reports

NORTHISLE ANNOUNCES C$9 MILLION PRIVATE PLACEMENT FINANCING

NorthIsle Copper and Gold Inc. has entered into an agreement with Paradigm Capital Inc. as lead agent and sole bookrunner on behalf of a syndicate of agents, including Agentis Capital Markets Limited Partnership as co-lead agent, in connection with a best effort private placement financing for total proceeds of approximately $9,000,376, consisting of up to 10,836,000 common shares of the company that qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) to be issued to subscribers at a price of 64.6 cents per CFT share, and up to 5,264,000 common shares of the company at a price of 38 cents per common share.

In addition, the company has granted the agents an option to sell up to 2,415,000 additional non-FT shares at the non-FT issue price for additional aggregate gross proceeds of up to $917,700, exercisable not later than 48 hours prior to the closing date (as defined below). The term offering includes the additional non-FT shares that may be issued on the exercise of the agent option, if any.

This financing is anticipated to include participation from fundamental institutional investors and existing cornerstone shareholders.

The company will use an amount equal to the gross proceeds received by the company from the sale of the CFT shares to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada). The company will incur the critical mineral qualifying expenditures on or before Dec. 31, 2025, and renounce (on a pro rata basis) all such expenditures in favour of the subscribers of the CFT shares with an effective date no later than Dec. 31, 2024, in accordance with the Income Tax Act (Canada). The proceeds from the sale of the non-FT shares will be used for exploration, project development and general corporate purposes.

Closing is expected to occur on or about Dec. 5, 2024, or other such date as the company and the agents may agree. The offering is subject to regulatory approval, including the approval of the TSX Venture Exchange, and all securities issued pursuant to the offering will have a hold period of four months and one day.

The offering will be conducted on a private placement basis pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws under National Instrument 45-106 (Prospectus Exemptions), and in such other jurisdictions as may be mutually agreed upon by Paradigm and the company, pursuant to applicable exemptions from the prospectus, registration or other similar requirements in such other jurisdictions such that no prospectus, registration statement or similar document are required to be filed by the company in any such jurisdiction.

About Northisle Copper and Gold Inc.

Northisle is a Vancouver-based company whose mission is to become a leading and sustainable mineral resource company for the future. Northisle owns the North Island project, which is one of the most promising copper and gold porphyry deposits in Canada. The North Island project is located near Port Hardy, British Columbia, on a more-than-34,000-hectare block of mineral titles 100 per cent owned by Northisle stretching 50 kilometres northwest from the now closed Island copper mine operated by BHP Billiton. Northisle recently completed an updated preliminary economic assessment for the North Island project and is focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.

We seek Safe Harbor.