CPER.V · 2023-09-20 12:00:00

CopperCorp Officially Granted Razorback Cu- Au-REE License in Tasmania, Plans Drill Campaign for Q4 2023

Exploration Programs Permits & Approvals

CopperCorp Officially Granted Razorback Cu-

Au-REE License in Tasmania, Plans Drill

Campaign for Q4 2023

Vancouver, British Columbia--(Newsfile Corp. - September 20, 2023) - CopperCorp Resources Inc.

(TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that it has

been granted new exploration license application EL8/2023 (Razorback) located in western Tasmania,

Australia. The Razorback property and existing EL16/2018 (Walford Peak) and EL24/2020 (High Tor)

properties have been consolidated into an expanded Skyline Project to form a district-scale Cu-Au-REE

opportunity.

Highlights

Newly granted EL8/2023 (Razorback) property comprises 171km

, located directly south along

strike of the Mt Lyell copper-gold mine (approximately 3Mt contained copper and 3Moz gold).

Highly anomalous Cu-Au and REE mineralization in previous drill hole intercepts include:

30.0m @ 2.1% TREO (Total Rare Earth Oxides) from 297m, including 5m @ 3.03%

TREO from 311m

(SDD005, South Darwin prospect)

Within this 30.0m intersection high-value magnet rare earth oxides (MREO)

comprise 25% of the TREO (0.53% MREO)

13.0m @ 1.2% Cu and 0.45g/t Au

from 345m (SDD005, South Darwin prospect)

13.4m @ 1.6% Cu and 1.6g/t Au

from 61.6m (JP02, Jukes prospect)

Drill targeting and planning underway with drilling anticipated to commence in Q4, 2023 subject to

permitting, approvals and availability of drill rigs.

High-value magnet rare earth oxides (MREO), including neodymium (Nd) and Praseodymium (Pr)

confirmed in South Darwin prospect REE mineralization.

Multiple highly prospective REE and Cu-Au target areas identified as priority exploration targets.

Re-sampling of historical drill core has commenced - the majority of historical drill holes were not

systematically assayed for REEs.

The expanded Skyline Project now comprises three 100%-owned exploration licenses covering a

combined area of 504km

consolidating the Company's land holding over a district-scale IOCG

system with affinities to the Candelaria IOCG region in Chile.

Stephen Swatton, President and CEO of CopperCorp, commented:

"The granting of Razorback provides an extremely important and significant addition to CopperCorp's

precious and base metals portfolio. Historical drilling at the Darwin zone has discovered high grade

Cu-Au-REE mineralization with high grade intercepts of up to 30m @ 2.1% TREO which includes a

significant percentage high-value magnet rare-earth minerals such as neodymium and

praseodymium.

We will commence boots-on-ground exploration at the earliest opportunity and plan to drill as soon as

possible when permitting is complete."

Expanded Skyline Project

The Skyline Project (Figure 1) has been expanded to include the newly granted Razorback property as

well as the existing EL18/2018 and EL24/2020 properties and now covers a combined area of 504km

giving the Company a dominant land position covering 80km of combined strike length over the eastern

margin of the highly mineralized Cambrian-aged Mount Read Volcanics (MRV) belt and its northern

correlates.

The Company considers the project area to be highly prospective for iron oxide-copper-gold

(IOCG) and rare earth element (REE) deposits.

Four large-scale mines occur within 10km of the properties now comprising the consolidated Skyline

Project - including the Tier 1 Mount Lyell Cu-Au deposit (3 Mt contained Cu and 3 Moz contained Au @

1.0% Cu and 0.3g/t Au)

, the world class Rosebery and Hellyer polymetallic VMS deposits, and the

Henty Au deposit (1.64 Moz Au @ 12.5 g/t Au)

(Figures 1 and 2).

EL8/2023 Razorback Property

The Razorback property covers 171km

of highly prospective ground situated directly south of the Mt

Lyell copper project. The property was awarded to the Company following its submission through the

state's Exploration Release Area (ERA) competitive application process

and was formally granted the

exploration license for a period of 5 years (renewable) commencing 23

August 2023.

CopperCorp has identified three high-priority exploration target areas as well as other lower priority

areas within the Razorback property (Table 1, Figure 3).

The high-priority Jukes, Hyde and Darwin zone

target areas will be the focus of initial exploration efforts commencing soon.

Figure 1. Location plan showing CopperCorp's exploration licenses and project areas in western

Tasmania, Australia.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8950/181201_9b032b6e148c49b1_002full.jpg

Figure 2. Southern Skyline Project properties and priority prospects with TMI magnetics image.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8950/181201_9b032b6e148c49b1_003full.jpg

Figure 3. Exploration target areas, Razorback property.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8950/181201_9b032b6e148c49b1_004full.jpg

TARGET ZONE

PROSPECT AREAS

Commodity / Style

PRIORITY RANKING

Jukes Zone

Jukes Pty

North Mt Jukes

Jukes Consols

Cu-Au, REE, IOCG

HIGH

Hyde Zone

Intercolonial Spur

Lake Jukes

Hydes

Hal Jukes

Taylors Reward

Cu-Au, REE, IOCG

HIGH

Darwin Zone

Snake Peak

East Darwin

South Darwin

Tasman Darwin

Cu-Au, REE, IOCG

HIGH

Huxley Zone

Mt Huxley

Mountain Maid

Red Blow

Cu-Au, REE, IOCG, IRG

MODERATE-HIGH

Nasty Knob Zone

Nasty Knob Gossan

Cu-Au

MODERATE

Garfield Zone

Garfield

Cu-Au, Porphyry-Epithermal/hybrid

IOCG

MODERATE

King River Zone

King River Gold

Mt Ellen

Au, IRG

LOW-MODERATE

Table 1. Ranked exploration target zones, Razorback property. IRG (Intrusive-related gold).

Darwin Zone

The Darwin zone target, located in the southern portion of the license is defined by a 7km long north-

south trending coincident magnetic and potassium-thorium radiometric anomaly.

Previous drilling into

part of this extensive anomaly at the South Darwin prospect intercepted significant IOCG style Cu-Au

and REE mineralization associated with north-south trending hydrothermal breccias comprised of

magnetite-hematite-pyrite-chalcopyrite-bornite mineralization hosted in intensely K-feldspar-chlorite-

tourmaline altered volcanics directly adjacent to intrusive granites and porphyry bodies.

The

mineralization at South Darwin remains open at depth and along strike, and with the previous drilling

testing less than 10% of the 7km-long anomaly, the Company considers there to be excellent further Cu-

Au and REE discovery potential at Darwin.

The IOCG style mineralization drilled at South Darwin comprises vein, breccia and semi-massive to

massive magnetite-pyrite-chalcopyrite (Figures 5 and 6). The previous drilling returned a best intercept

13.0m @ 1.2% Cu and 0.45g/t Au

from 345m (SDD005)

(Figure 4).

Drill hole SDD005 also

intercepted significant rare earth element and scandium mineralization, including an intercept of

30.0m

@ 2.1% TREO and 73ppm Sc from 297m

including 5.0m @ 3.3% TREO and 98ppm Sc from

311m

(Figure 4, Table 2).

There are indications that the Cu-Au and REE grades are increasing with

depth at South Darwin and the Company is currently planning to drill test this concept in the coming

months ahead.

Historical drill assays indicate that the REE mineralization at South Darwin is enriched in critical listed

and valuable REE minerals. Approximately

25% of the total rare earth oxide suite in hole SDD005

comprises higher value REE. The grade of high value REE in this hole is 0.53% MREO

Further potential for REE mineralization in the South Darwin area is indicated by historical surface rock

chip sampling assay, with up to

16.2% TREO

recorded. Much of the northern part of the Darwin Zone

trend remains untested for REEs, however, extensive areas of thorium anomalism in radiometric data

indicates good potential for further REE mineralization to be defined.

DH ID

From

Width

TREO

CeO2

La2O3

Nd2O3

Pr6O11

Sm2O3

Gd2O3

Dy2O3

Eu2O3

Er2O3

Tb4O7

Ho2O3

Tm2O3

Lu2O3

Yb2O3

ppm

SDD005

297

327

2.08

0.99

0.5

0.33

0.1

500

300

128

Table 2. Rare earth oxide values from significant drill hole intercept in SDD005 30.0m @ 2.1% TREO

(1.0% TREO cut-off).

Values have been rounded. Magnet Rare Earth Oxides (MREO) are bolded.

Hyde Zone

The Hyde Zone is located 2.5km north along strike of the Darwin Zone and is interpreted to represent a

continuation of the Darwin Zone trend, with the intervening section being covered by overlying rock

sequences. The main target area at Hyde Zone comprises a 1.5km long magnetic, radiometric and

gravity high anomaly that is interpreted to be indicative of possible IOCG mineralization.

While the target

area remains historically untested, extensive areas of outcropping chlorite-sericite alteration with

disseminated and stringer vein pyrite-chalcopyrite mineralization flank the western and eastern sides of

the magnetic-radiometric-gravity anomaly with surface rock chip sampling in the 1970's returning assays

including

0.5 to 1.25% Cu over 24m

, and up to

6.1% Cu and 3.9g/t Au

from outcropping gossan.

Jukes Zone

At the Jukes zone area, located 10km south of the Mt Lyell copper mine, historical small-scale mining

during the early 1900's was carried out on high-grade copper-gold magnetite-sulphide pipes with

several exploration adits and shafts developed throughout the general area.

The IOCG style mineralization at Jukes is hosted in a zone of K-feldspar-magnetite alteration which is

overprinted by a later mineralization phase chlorite-magnetite-pyrite-chalcopyrite event and an outermost

zone of sericite-chlorite alteration extending vertically and laterally away from an intrusive granite source

situated approximately 1km below surface.

Drilling below historical workings at Jukes in the 1970's gave a best intercept of

13.4m @ 1.6% Cu and

1.6g/t Au

from 61.6m (drillhole JP02)

and channel sampling of historical adits returned further high-

grade results including

16m @ 1.7% Cu and 1.4 g/t Au

9m @ 1.55% Cu and 1.56 g/t Au

and

2m @

5.68% Cu and 5.8 g/t Au

No further drilling has been carried out despite extensive surface exploration

identifying broad alteration zones and outcropping mineralization with coincident anomalous magnetics

and IP chargeability features extending northwards from the area of historical mining and drilling.

Figure 4. Cross section showing historical drill holes SDD004 and SDD005, South Darwin prospect,

Razorback property.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8950/181201_9b032b6e148c49b1_005full.jpg

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