Arranges Debt Settlement

News Release No: 15 -10

COPPER LAKE RESOURCES LTD.

ARRANGES DEBT SETTLEMENT

December 10, 2015 - Vancouver, BC - Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WO1) ("Copper Lake" or the "Company") further to the News Release dated November 27, 2015, the Company is pleased to announce that the TSX Venture Exchange has accepted an amended agreement to settle a total of $396,692 of debt (the "Indebtedness") with a creditor that is at arm's length to the Company (the "Debt Settlement") under the following amended terms:

• The creditor has agreed to accept 7,000,000 shares in the capital of the Company at a deemed price of $0.05 per share in satisfaction of $350,000 of the Indebtedness and forgive the remaining $46,692 of the Indebtedness in exchange for 900,000 warrants shares exercisable at a price of $0.10 for a period of 18 months from the date of issuance.

About Copper Lake Resources:

Copper Lake Resources Ltd. is a Canadian company currently focused on advancing two significant properties located in Ontario, Canada:

1. The Marshall Lake VMS copper, zinc, silver and gold property is an advanced exploration stage property located 120 km north of Geraldton, Ontario (via a good all weather gravel road from Hwy 11/Trans Canada Hwy, and just 22 km north of the main CNR rail line).

2. The Norton Lake copper, nickel PGM property is located approximately 100 km north of the Marshall Lake property and has a current NI 43 -101 measured and indicated resource. The NI 43-101 report is available on Sedar.

On behalf of Copper Lake Resources Ltd.

“KIM EVANS”

________________________________________

Kim Evans CFO

For further information please contact:

Ronald Coombes Phone: 604-343-4062 Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.