Copper Lake Provides Corporate Update

March 10, 2016 - Vancouver, BC - Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WO1) ("Copper Lake" or the "Company") announces that the TSX Venture Exchange (the "Exchange") has suspended trading in the Company's securities as a result of a cease trade order ("CTO") issued by the British Columbia Securities Commission on March 8, 2016. The CTO was issued due to the Company's inability to file its annual audited financial statements for the year ended October 31, 2015 and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Required Filings") by the prescribed filing deadline of February 29, 2016 (the "Filing Deadline").

Despite its efforts, the Company is currently not in a position to timely file the Required Filings, primarily as a result of the time and costs required for the Company's auditors to complete the audit of the annual financial statements. The Company's Required Filings will be made as soon as its auditors deliver their Audit Report, which is expected to be received by March 31, 2016.

Reinstatement of trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company's has satisfactorily complied with Exchange requirements.

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 resource.

On behalf of Copper Lake Resources Ltd.

"Terrence MacDonald"

Interim CEO

For further information please contact:

Terrence MacDonald Phone: 778 867-9533 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.

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