Mr. Nicholas Van Dyk reports

NORTHISLE ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCINGS FOR C$9.9 MILLION IN PROCEEDS

NorthIsle Copper and Gold Inc. has closed the previously announced brokered private placement, including the full exercise of the overallotment option, for gross proceeds of approximately $9.4-million (the brokered offering). The brokered offering consisted of (i) 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)) (the charity FT shares) issued at a price of 64.6 cents per charity FT share, (ii) and 6,352,300 common shares of the company (the non-CFT shares) issued at a price of 38 cents per non-CFT share. The brokered offering was conducted by a syndicate of agents led by Paradigm Capital Inc. as lead agent and sole bookrunner on behalf of Agentis Capital Markets LP as co-lead and a syndicate of agents including Red Cloud Securities Inc. and Ventum Financial Corp. The agents received cash commissions of $529,055.76 in respect of the brokered offering.

In connection with the brokered offering, the company announces that it has also closed a non-brokered private placement for gross proceeds of $504,146. The non-brokered offering consisted of 1,326,700 non-CFT shares issued at the non-CFT issue price for aggregate gross proceeds under the offering of $9,918,076.

Sam Lee, president and chief executive officer of NorthIsle, stated: "We are very pleased to close this oversubscribed financing and head into 2025 fully capitalized for our growth plans. We have once again achieved our funding goals of raising growth capital with minimal dilution and adding fundamental institutional and cornerstone investors to our registrar. We have exceeded our 2024 goals to date and are well positioned to have another successful year in 2025."

2024 execution and 2025 catalysts

The company has executed successfully against its 2024 plan and will continue advancing the North Island project, with development and exploration catalysts in 2025 leading to measurable impacts for shareholders, including the following:

• Completed -- geophysics results from Northwest Expo and West Goodspeed;
• Completed -- Northwest Expo metallurgical testing and initial resource estimate;
• Completed -- final 2023 Pemberton Hills drill results;
• Completed -- commencement of 2024 drilling program;
• Completed -- preliminary project trade-offs;
• Completed -- commencement of advanced economic and technical studies;
• Completed -- drill results from West Goodspeed;
• Completed -- integrated North Island project mineral resource estimate;
• Completed -- North Island project resource estimate technical report;
• Q4 2024 -- additional exploration results from Northwest Expo;
• Q4 2024 -- additional exploration results from West Goodspeed;
• Q1 2025 -- North Island project updated PEA (preliminary economic assessment);
• Q1/Q2 2025 -- commencement of 2025 drill program;
• Continuing -- continued respectful engagement with indigenous rightsholders and local stakeholders.

Upcoming investor events

The company will continue to be active in investor outreach. NorthIsle will be attending several external investor events including the following events during Q1 2025:

• Jan. 14 to Jan. 16, 2025: TD Annual Global Mining Conference, Toronto, Ont., Canada;
• Jan. 19 to Jan. 20, 2025: Vancouver Resource Investment Conference, Vancouver, B.C., Canada;
• Jan. 20 to Jan. 23, 2025: AME Roundup, Vancouver, B.C., Canada;
• Feb. 3, 2025: Canadian Critical Minerals Opportunities Forum, New York, United States;
• Feb. 7 to Feb. 8, 2025: World Outlook Financial Conference, Vancouver, B.C., Canada;
• March 2 to March 5, 2025: Prospectors & Developers Association of Canada (PDAC), Toronto, Ont., Canada.

Offering details

The gross proceeds raised from the CFT shares will be used 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) and, for subscribers who are qualifying individuals under the Income Tax Act (British Columbia), will qualify as B.C. flow-through mining expenditures as in the Income Tax Act (British Columbia). The company will incur the critical minerals 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-CFT shares will be used for general corporate purposes.

The offering was 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 outside of Canada and the United States pursuant to applicable exemptions from the prospectus, registration or other similar requirements in such other jurisdictions. All securities issued under the offering have a hold period of four months and one day.

About NorthIsle Copper and Gold Inc.

NorthIsle is a Vancouver-based company whose mission is to become Canada's leading sustainable mineral resource company for the future. NorthIsle, through its 100-per-cent-owned subsidiary, North Island Mining Corp., owns the North Island project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island project is located near Port Hardy, B.C., 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 now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.

We seek Safe Harbor.