Resources Ltd. Corporate Update May 2 7 , 202 5 –
News Release No: 2
5
-
0
2
C
opper Lake
Resources Ltd. Corporate Update
May 2
7
,
202
5
–
Toronto, ON
-
Copper Lake Resources Ltd. (TSX
-
V: CPL, Frankfurt: WOI,
OTC: WTCZF) (“Copper Lake” or the “Company”)
announces that
it will be seeking shareholder
approval at the upcoming Annual
General
and Special
Meeting
of Shareholders,
to be held on June
12, 2025
,
for a
consolidation of its issued and outstanding common shares
(the “Shares”)
.
(See
the Manag
ement Information Circular
dated May 12, 2025
on SEDAR
+ for more information).
The
shareholder
resolution
, if approved,
will allow the Boa
rd
of Directors to
implement
a
Share
consolidation
, if deemed appropriate,
within
the following
twelve months
at a ratio of to be
determined by the Board
of Directors
, up to a maximum consolidation of 20:1.
The
Board of
Directors of the Company believes that a consolidation
of the Shares would both enhance the
marketability of the Company and better position the Company to raise funds necessary to execute
the Company’s business plan.
The
proposed
consolidation is
subject to approval by the TSX
Venture Exchange (the “Exchange”
).
The Company does not intend to change its name or its current trading symbo
l in connection the
proposed consolidation.
The effective date of the
proposed consolidation will be announced in a
subsequent news release.
The exercise price and
number of Shares of the Company
, issuable upon the exercise of
outstanding options and warrants
, will be proportionally adjusted upon the implementation of the
proposed
consolidation in accordance with the announced terms thereof.
Share
I
ssuance
The Company also announces that it has agreed to issue 250,000 common shares
of the Company
to
Aroland First Nation
and 250,000 common shares
of the Company
to
Animbiigoo Zaagi'igan
Anishinaabek
First Nation
pursuant
to the terms of the
Exploration Agreement
announced on
February 27, 2025
in respect of the Marshall Lake property
.
Each of the fore
going
issuances of
common shares are subject to
TSX Venture Exchange approval, and the shares will be subject to
a
four
-
month hold period.
ABOUT COPPER LAKE RESOURCES
Copper Lake Resources Ltd. is a publicly traded Canadian
mineral exploration and development
company
with interests in two pro
jects
both
located in Ontario.
www.copperlakeresources.com
The
Marshall Lake
high
-
grade VMS copper, zinc, silver and gold project, comprises an area of
approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north
of the main CNR rail line. Copper Lake has
an
8
2
.
9
7
% interest in the joint ventured property,
which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells
staked in 2018 and 2020 that are 100% owned and not subject to any
royalties
. These newer claims
add approximately 30 square km to the property.
In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas
Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to
any royalties. The Sollas Lake property consists of 20 claim cells
comprising an area of 4 square
km on the east side of the Marshall Lake property where historical EM airborne geophysical
surveys have outlined strong conductors on the property hosted within the same favorable felsic
volcanic units. The Summit Lake prope
rty currently consists of 100 claim cells comprising an area
of 20.5 square km, is accessible year
-
round, and is located immediately west of the original
Marshall Lake property. The Marshall Lake project is located in the traditional territories of
Aroland
and Animbiigoo Zaagi
’
igan Anishinaabek (“AZA”) First Nations.
Copper Lake has a 69.79% joint venture interest in the
Norton Lake
nickel, copper, cobalt, and
palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north
of the Marshall Lake Property.
The Company filed an updated NI 43
-
101 in
October 2023 with a
mineral resource of
o
pen pit and underground Measured + Indicated Resources of 1,795,000
tonnes at an average grade of 0.72% NI, 0.69% Cu, 339 ppm Co, 0.52 g/t Pd, 0.17 g/t Pt and
containing 28.3Mlbs of nickel and 27.3Mlbs of c
opper.
The Norton Lake property is located in
the traditional
territories of Eabametoong (“Fort Hope”) and Neskantaga First Nations.
On beha
lf of the Board of Directors,
Copper Lake Resources Ltd.
Terry MacDonald, CEO
(416) 561
-
3626
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.