Mr. Nicholas Van Dyk reports

NORTHISLE ANNOUNCES FILING OF NI43-101 TECHNICAL REPORT FOR NORTH ISLAND PROJECT

NorthIsle Copper and Gold Inc. has filed on SEDAR+ a technical report prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects (NI 43-101) titled "NI 43-101 Technical Report and Preliminary Economic Assessment" supporting the results of a preliminary economic assessment (the 2025 PEA) on the company's 100-per-cent-owned North Island copper-gold project located in the north end of Vancouver Island, British Columbia. The results of the 2025 PEA were previously reported in the company's news release dated Feb. 19, 2025, and there are no material differences in the report from those results. The effective date of the report is Feb. 12, 2025.

2025 PEA highlights:

• The 2025 PEA outlines robust economics, unlocking copper value through gold:
  • Base case: After-tax net present value (NPV) of $2-billion ($1.5-billion (U.S.)) at a 7-per-cent discount rate, after-tax internal rate of return (IRR) of 29 per cent, 1.9-year payback period and 29-year life of mine (LOM).
  • After-tax NPV of $3.8-billion ($2.6-billion (U.S.)) at 7-per-cent, after-tax IRR of 45 per cent and a 1.4-year payback at spot prices.
  • Phase 1 average annual production of 200,000 ounces Au (gold) and 48 million pounds Cu (copper) over 5 years, with 157 million lb CuEq (copper equivalent) or approximately 307,000 oz AuEq LOM.
  • LOM revenue of 48 per cent copper, 45 per cent Au and 7 per cent Mo (molybdenum) at base case prices, and 50 per cent Au, 44 per cent Cu and 6 per cent Mo at spot.
  • Phase 1 operating cash flow of $2-billion at base case prices supports rapid payback of 1.9 years and fully finances phase 2 expansion capex (capital expenditure).
• Among the lowest cost and capital intensity projects relative to peer group:
  • Two-phase approach at single plant site with phase 1 at 40,000 tonnes per day (tpd), doubling to 80,000 tpd;
  • NPV of $2.0-billion ($1.5-billion (U.S.)) is 1.7 times initial capital investment of $1.1-billion ($847-million (U.S.)) at base case pricing and 3.3 times initial capex at spot prices;
  • Phase 1 cash cost of $763 (U.S.)/oz AuEq or $1.49 (U.S.)/lb CuEq sits in first quartile globally.
• Long-term opportunity spanning 35-kilometre porphyry district:
  • 29-year mine plan;
  • New discovery at West Goodspeed, located within one km of Red Dog, not included in current resource;
  • $7-million fully financed exploration program focused on expanding higher-margin and grade northwest corridor.
• Furthers the company's sustainable development goals:
  • Reduced emissions from phase 1 operations, increased electrification opportunities;
  • Estimated LOM carbon intensity among the lowest in Canada for open pit copper mines.

Key performance indicators are summarized in the attached table.

The 2025 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 projections described in the 2025 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The full report can be found under the company's profile on SEDAR+ or on the company's website. The company's previous technical reports are no longer current and should not be relied upon.

Qualified persons and data verification

Ian Chang, PEng, vice-president, project development, of Northisle, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release.

Additionally, a team of independent qualified persons (as such term is defined under NI 43-101) at Ausenco, Moose Mountain Technical Service and SLR are responsible for the 2025 PEA and have reviewed the scientific and technical disclosure, and verified the data in this press release.

About NorthIsle Copper and Gold Inc.

Northisle Copper and Gold 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. Since 2021, the company has discovered two significant deposits, expanded resources, demonstrated the economic potential of the project and is now focused on accelerating the advancement of this compelling project while exploring within this highly prospective land package.

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