Mr. Gordon Neal reports

WORLD COPPER SIGNS NON-BINDING LOI TO ACQUIRE CRISTAL PROJECT IN CHILE AND TERMINATES OPTION TO ACQUIRE ESCALONES PROJECT

World Copper Ltd. has entered into a non-binding letter of intent (the LOI) to enter into a property option agreement whereby World Copper would be granted the option to acquire a 100-per-cent interest in the mineral exploitation concessions comprising the Cristal project located in northern Chile.

Cristal project description

The Cristal project is a porphyry copper target located in northern Chile, near the Peru/Chile border, and comprises nine square kilometres of exploitation concessions. The Cristal project was the subject of a technical report prepared pursuant to National Instrument 43-101 -- Standard of Disclosure for Mineral Projects (NI 43-101) entitled "National Instrument 43-101 Technical Report for the Cristal Copper Property, Province of Arica, XV Region of Arica and Parinacota, Chile," dated effective Feb. 28, 2018, prepared by Thomas A. Henricksen and filed on New Energy Metals Corp.'s SEDAR+ profile on March 29, 2018.

Option terms

The terms of the LOI provide that, subject to the completion of certain conditions, including TSX Venture Exchange acceptance and entry into a definitive property option agreement with the vendor of the Cristal project, World Copper, or an affiliate nominated by World Copper, would be granted the option, which may be exercised by World Copper issuing to the vendor 500,000 common shares upon the execution of the definitive agreement, and making cash payments to the vendor in the aggregate amount of $350,000 (U.S.) as shown in the attached table.

The terms of the LOI also provide that World Copper will be responsible for all exploration costs and activities during the option period, and the payment by World Copper to the vendor of $50,000 (U.S.) 30 days prior to the commencement of drilling on the Cristal project. Other than the 500,000 common shares to be issued to the vendor upon the execution of the definitive agreement, World Copper shall not be obligated to do any further act or acts, including any exploration or work on or with respect to the Cristal project; provided that during the option period, World Copper shall be responsible for keeping the Cristal project in good standing.

Upon the exercise of the option, World Copper shall grant the vendor a 2-per-cent net smelter returns (NSR) royalty. World Copper shall have the right to purchase one-half of the royalty upon the payment to the vendor of $2-million (U.S.), in which case the royalty payable to the vendor shall be reduced to 1.0 per cent. In addition, there is also an existing 1-per-cent NSR royalty on the Cristal project in favour of Condor Resources Inc. that can be repurchased in its entirety upon a payment of $1-million (U.S.).

Escalones option termination

The company also announces that it has terminated its option to acquire the Escalones project in Chile. The Escalones project was subject to a now-terminated option agreement between an indirect, wholly owned subsidiary of the company and a third party vendor.

About World Copper Ltd.

World Copper, headquartered in Vancouver, B.C., is a Canadian resource company focused on the exploration and development of its copper porphyry projects. The company is dedicated to sustainable practices and leveraging technology to develop safe and productive mining operations in stable, mining-friendly jurisdictions.

We seek Safe Harbor.