CUEX.V · 2024-05-30 12:00:00

114 meters of 0.95 g/t Gold including 70m of 1.27 g/t Gold Intercepted at CopperEx's Inaugural Drill Program at Exploradora Norte Project, Franja del Oro Target 114 meters of 0.95 g/t Gold from 4-118 meters in RC hole A-RC-02 including:

Drill Results

114 meters of 0.95 g/t Gold including 70m of

1.27 g/t Gold Intercepted at CopperEx's

Inaugural Drill Program at Exploradora Norte

Project, Franja del Oro Target

114 meters of 0.95 g/t Gold from 4-118 meters in RC hole A-RC-02 including:

70 meters of 1.27 g/t Gold (22-92.00 meters)

And 30 meters of 1.63 g/t Gold (44-74 meters)

And 12 meters of 2.45 g/t Gold (62-74 meters)

240 meters of 0.31 g/t Gold from surface to 240 meters in RC hole A-RC-03 including

174 meters of 0.39 g/t Gold (0-174 meters)

And 24 meters of 0.65 g/t Gold (20-44 meters)

And 72 meters of 0.43 g/t Gold (54-126 meters)

58.00 meters of 0.74 g/t Gold from 68-126 meters in RC hole S-RC-01 including:

54 meters of 0.78 g/t Gold (72-126.00 meters)

And 30 meters of 1.03 g/t Gold (72-102 meters)

And 12 meters of 0.89 g/t Gold (114-126 meters)

85.00 meters of 0.42 g/t Gold from 76.00-161.00 meters in RC hole S-RC-02 including

34 meters of 0.96 g/t Gold (76-110 meters)

And 14 meters of 1.81 g/t Gold (88-102 meters)

Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - CopperEx Resources Corp. (TSXV:

CUEX) (the "Company" or "CopperEx") announces results from a 1,279-meter reverse circulation ("RC")

drill program at the Company's flagship Exploradora Norte Project.

The eight drill holes were completed

in the Agua de la Piedra ("ADLP") and Sorpresa zones of the

Franja del Oro Target,

part of15-

kilometer-long gold enrichment trend that represents one of several gold-copper enriched magmatic

hydrothermal centers on the 20,800-hectare Exploradora Norte Project, located in the Eocene-

Oligocene porphyry-epithermal belt in Northern Chile.

Dave Prins, President & CEO of CopperEx

stated, "

The inaugural RC drilling program at Franja del

Oro demonstrates the robust gold grades and continuity at ADLP and importantly demonstrates that

the newly identified surface gold mineralization at Sorpresa extends to depth and along strike.

These

results represent a significant step forward for the project and for CopperEx and once again highlight

the gold endowment and economic potential of the Exploradora Norte Project. We are extremely

pleased to have completed and published the results of the inaugural drill campaign, a little over

three months since listing on the TSXV."

John Robins, Technical Advisor to CopperEx

stated, "

Exploration drilling at Exploradora Norte cut

long runs of robust, gold mineralization in the near surface environment at the Sorpresa and ADLP

zones which confirms our confidence in the upside exploration potential of Franja del Oro Target.

Data

from this round of drilling will be used to enhance the lithological, structural and alteration modeling at

Franja del Oro which will be leveraged to vector toward additional gold mineralization in the next drill

campaign.

Zoom Webinar

CopperEx Corp. will host a webinar to discuss the Company's recent results from the inaugural drill

program at the Exploradora Norte Project. The webinar will take place on Thursday, May 30th at

11:00am PST/2:00pm EST.

Zoom Registration Link:

https://us02web.zoom.us/webinar/register/WN_-a2pwVz7RWmTWk9wW_hI5g

Management will be available to answer questions following the presentation.

A replay of the webinar will

be posted on our website by May 31

www.copperexcorp.com

Highlights:

Cut gold mineralization with associated pathfinder elements (arsenic and antimony) and intense

alteration in all eight holes at ADLP and Sorpresa, a testament to the endowment and quality of the

Franja del Oro exploration target (see results below).

The 2024 RC drill program has successfully confirmed the gold grades and continuity at ADLP and

has expanded the newly identified surface gold mineralization at Sorpresa along strike and at

depth.

These results represent a significant step forward for the 15 by 3-kilometer Franja del Oro

Target and enhances its potential to host a large, high quality bulk minable gold deposit.

Drilling at ADLP demonstrates that gold mineralization at Franja del Oro has a spatial association

with porphyritic intrusions which are locally gold mineralized.

In addition, quartz vein mineral

assemblages consistent with the distal porphyry copper gold setting (e.g., A-RC-03; see below)

suggest there is potential at Franja del Oro for a bulk tonnage porphyry target at depth.

Completed eight drill holes totaling 1,279 meters of reverse circulation ("RC") drilling out of the

planned 1,250 drill program within a 3-week timeframe from commencement of drilling. (See the

Company's press release dated

April 04, 2024)

CopperEx has an Option Agreement for the 20,800-hectare Exploradora Norte property, to earn a

65% ownership interest, with a preferred option to earn an additional 35%. The property is located

along the prolific West Fissure fault system in northern Chile, north of El Salvador and south of

Escondida at 3,400 meters above sea level in the Chilean pre-cordillera. The property has a year-

round operating climate with good access.

Drill Program Summary and Economic Geology

The highly successful 2024 RC drill program at Franja del Oro was designed to test the gold grade and

continuity of key near-surface gold mineralized segments of the parallel Sorpresa (1,200 meters-long)

and ADLP (850 meters-long) zones, which are part of the greater Franja del Oro Target that measures

15 kilometers by 3 kilometers and is defined by discontinuously exposed gold mineralization, alteration,

brittle faults favorable (reactive) host rocks and pathfinder element geochemistry (arsenic and antimony).

New RC drilling at Franja del Oro cut gold mineralization in every hole, substantially increasing the

Company's confidence in the potential of the Sorpresa and ADLP zones and the greater gold endowed

target area.

These exciting results warrant follow up drilling which will focus on expanding the footprint of

known mineralization and modeling the geological architecture at Sorpresa and ADLP to vector toward

additional gold mineralization.

The distribution of gold mineralization (Figure 1A-E) intercepted by CopperEx in the Sorpresa and

ADLP zones at the Franja del Oro Target is controlled by planar fabrics including geological contacts,

damage zones (faults) and by the position of chemically reactive host rocks (carbonate-bearing

sandstones).

Alteration minerals associated with gold include silica, iron oxide, sericite, and clay

together with the presence of open space quartz vein textures and locally breccias suggest that the gold

mineralization is related to the epithermal clan of mineral deposits.

Gold mineralization at Franja del Oro

(ADLP) has a spatial association to porphyritic intrusions (holes A-RC-01, A-RC-04 and A-RC-05;

Figure 1A) which are locally gold mineralized and contain quartz vein mineral assemblages including

quartz + pyrite and quartz + magnetite which increase in intensity with depth (e.g., A-RC-03; Figure 1D).

These observations are significant to the upside gold (and possibly copper) upside exploration potential

at Franja del Oro because they suggest that the epithermal gold mineralization at Franja del Oro that is

exposed at surface may be related to a gold (and copper) bearing porphyry at depth.

Figure 1. Examples of gold mineralization intersected in the 2024 Franja del Oro inaugural drill

program including:

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_002full.jpg

A) Mineralized porphyry dyke from A-RC-01 (64.00-66.00m)

B) Oxidized, mineralized volcanic rocks A-RC-03 (118.00-124.00 meters)

C) Oxidized mineralized volcanic rocks from A-RC-02 (54.00-66.00 meters)

D) Various quartz vein examples associated with gold mineralization in A-RC-03 including:

1) banded quartz + pyrite + magnetite veins

2) quartz + carbonate + magnetite veinlets

3) banded quartz + carbonate + pyrite + magnetite veinlets and

4) banded quartz + pyrite + magnetite + chlorite veinlets

E) Gold mineralization in carbonate-bearing sandstones in S-RC-01 (40.00-80.00 meters)

F) Gold mineralized, oxidized volcanic rocks in A-RC-03 (120.00-158.00 meters)

Overall Exploradora Norte and Franja del Oro Plan

Figure 2: Exploradora Norte - Property map including key target areas and surface and trench

rock geochemistry

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_003full.jpg

Sorpresa Zone (Franja del Oro Target)

A total of 3 RC holes (487 meters) have been drilled at the Sorpresa Zone to test the depth extent, grade

and continuity of the zone of mid Jurassic fossiliferous limestones, calcareous sandstones, and

siltstones and associated stocks and dikes (dacite, diorite and quartz diorite) that contain vein and

disseminated oxide gold mineralization. The sedimentary rocks at Sorpresa are folded into a series of

anticlinal and synclinal fold geometries that have north-south trending axes. Gold mineralization is

associated with clay and silica alteration, iron oxides including jarosite and goethite, black and white

calcite stockwork veinlets (distal) and quartz and barite veinlets (proximal) and focused in decalcified

limestones and limey sandstones within the Jurassic host rocks.

The results from the drill program are

shown below.

SORPRESA ASSAY RESULTS

HOLE

ZONE

FROM

LENGTH

GOLD

GOLD GRADE

NAME

(m)

(g/t)

THICKNESS

S-RC-01

Sorpresa

68.00

126.00

58.00

0.74

42.66

Incl.

Sorpresa

72.00

126.00

54.00

0.78

42.20

And

Sorpresa

72.00

102.00

30.00

1.03

30.96

Incl.

Sorpresa

114.00

126.00

12.00

0.89

10.64

And

Sorpresa

114.00

118.00

4.00

1.95

7.78

S-RC-02

Sorpresa

76.00

161.00

85.00

0.42

35.65

Incl.

Sorpresa

76.00

110.00

34.00

0.96

32.48

And

Sorpresa

88.00

102.00

14.00

1.81

25.33

Incl.

Sorpresa

76.00

80.00

4.00

1.08

4.32

Incl.

Sorpresa

88.00

108.00

20.00

1.38

27.68

S-RC-03

Sorpresa

162.00

176.00

14.00

0.22

3.12

Incl.

Sorpresa

164.00

172.00

8.00

0.33

2.66

Table 1.

Drill intercepts from the Sorpresa Zone, Franja del Oro Target, Exploradora Norte

Project, Chile

Figure 2. Geological cross-section (A-A

) showing the location of S-RC-01 (ADLP Zone) and

historical drilling

1,2

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_004full.jpg

Figure 3. Geological cross-section (B-B

) showing the location of S-RC-02 (ADLP Zone) and

historical drilling

1,2

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_005full.jpg

ADLP Zone (Franja del Oro Target)

A total of 5 holes (792 meters) were drilled at ADLP.

The Agua de la Piedra Target is centered on mid

Jurassic Montandon and Asientos formation bedded fossiliferous limestones, calcareous sandstones

and siltstones (locally bituminous) which are unconformably overlain by Paleocene volcanics (Cerro

Nevado sequence) and intruded by small stocks and dikes related to the Eocene Quebrada Oreganito

diorites.

ADLP is prospective for carbonate replacement gold mineralization, disseminated and

structurally controlled gold mineralization associated with volcanic rocks, and breccias (basal flows) at or

near the angular unconformity with Jurassic sedimentary host rocks.

In addition, ADLP has the potential

for high grade vertical feeder structures (epithermal) which cut the sedimentary and volcanic rocks and

has the potential for porphyry mineralization at depth.

ADLP ASSAY RESULTS

HOLE

ZONE

FROM

LENGTH

GOLD

GOLD GRADE

NAME

(m)

(g/t)

THICKNESS

A-RC-01

ADLP

6.00

30.00

24.00

0.06

1.34

Incl.

ADLP

12.00

20.00

8.00

0.08

0.64

A-RC-02

ADLP

4.00

118.00

114.00

0.95

108.61

Incl.

ADLP

22.00

92.00

70.00

1.27

88.86

And

ADLP

46.00

74.00

28.00

1.63

45.62

And

ADLP

62.00

74.00

12.00

2.45

29.40

And

ADLP

80.00

88.00

8.00

1.58

12.62

A-RC-03

ADLP

0.00

240.00

0.31

74.40

Incl.

ADLP

0.00

174.00

0.39

67.86

And

ADLP

0.00

10.00

0.68

6.78

And

ADLP

20.00

44.00

24.00

0.65

15.66

And

ADLP

54.00

126.00

72.00

0.43

31.16

And

ADLP

130.00

160.00

30.00

0.34

10.30

A-RC-03

ADLP

210.00

224.00

14.00

0.27

3.82

A-RC-04

ADLP

80.00

138.00

58.00

0.10

5.90

Incl.

ADLP

88.00

98.00

10.00

0.19

1.86

Incl.

ADLP

90.00

94.00

4.00

0.28

1.12

A-RC-05

ADLP

50.00

54.00

4.00

0.47

1.88

Table 2.

Drill intercepts from the ADLP Zone, Franja del Oro Target, Exploradora Norte Project,

Chile

Figure 4. Geological cross-section (C-C

) showing the location of A-RC-02 (ADLP Zone) and

historical drilling

1,2

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_006full.jpg

Figure 5. Geological cross-section (E-E

) showing the location of A-RC-03 (ADLP Zone) and

historical drilling

1,2

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

https://images.newsfilecorp.com/files/10257/210978_119542f324a28b4c_007full.jpg

Relevance of Oxide Deposit Gold Grades

To provide additional context regarding gold grades intercepted by CopperEx within the inaugural drill

program, and how these may contribute to the projects economic potential, it's worth noting that the

Kinross 2023 annual report indicates a heap leach grade of 0.22 gpt

for the Fort Knox mine, the

Kinross Round Mountain mine has a heap leach grade of 0.39 gpt

, and the Kinross Bald Mountain mine

indicating a grade of 0.42 gpt

. Both the Fort Knox and Round mountain mines operate joint heap leach

and mill operations, while the Bald Mountain mine is a standalone heap leach operation

Quality Control and Quality Assurance

Samples from the 2024 RC drilling program have been sent to Andes Analytical Assay Spa. ("AAA") in

Santiago Chile, for preparation and analysis. AAA meets all requirements of International Standards ISO

17025:2017that includes ISO 9001 requirements for analytical procedures. Samples were analyzed

using AAA's Fire Assay Fusion method (AEF_AAS_1E42) with an EAA finish for gold and by a 43-

element four acid digest ICP-MS-OP analysis (ICP_AES_HF43m), and ICP_AR01_MS_OP01 for

mercury determination, with additional analysis for Ore Grade Au (AEF_GRV_1E4)) and Ore Grade Cu

(4A_HF_AAS_1E18SL). Results are reported in parts per million (ppm) and converted to percent (%),

or grams per tonne (g/t) where applicable. In addition to AAA Laboratory quality assurance - quality

control (QA/QC) protocols, CopperEx implements an internal QA/QC program that includes inserting fine

and coarse blank samples (2.65%), inserting OREAS series standards (total 3.12%, including OREAS

153a, OREAS 523, OREAS 601c, OREAS 620) and duplicate samples in the field and laboratory

(1.55%), obtaining a total of 7.32% CopperEx QAQC control.

Qualified Person

All scientific and technical information in this news release has been approved by Daniel MacNeil,

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