CopperBank Announces Appointment of New Leadership Team, Up to $5 Million Private Placement Financing and Creation of New Long-Term Incentive Plan

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CSE: CBK FSE: 9CP OTC: CPPKF

FOR IMMEDIATE RELEASE September 2, 2021

(CBK 2021– NR #11)

CopperBank Announces Appointment of New Leadership Team,

Up to $5 Million Private Placement Financing and

Creation of New Long-Term Incentive Plan

September 2, 2021 – Vancouver, British Columbia – CopperBank Resources Corp. (“CopperBank” or the

“Company”) (CS: CBK) is pleased to announce the appointment of Paul Harbidge as President and Chief

Executive Officer and Russell Ball as Chair of the board of directors of CopperBank (the “Board”), effective

immediately. In addition to his role as President and Chief Executive Officer, Paul Harbidge will also serve as

a director on the Board.

Mr. Harbidge and Mr. Ball bring to the Company a solid track record of creating value with both having

been involved in senior leadership roles with mining companies for over 25 years. Mr. Gianni Kovacevic, the

former Chief Executive Officer of CopperBank will remain on the Board. Said Mr. Gianni Kovacevic, “We

welcome Paul and Russell to the team to guide the development of our portfolio projects. Collectively, they

have a strong working relationship and their achievements and performance history is well known within the

mining industry and investment community. I am further encouraged by the significant capital investment each

of the gentlemen are making demonstrating our continued culture of being fully aligned with our shareholders.”

In addition to the new appointments, two of the current board members, Kenneth Cunningham and Gavin Dirom

are stepping down from the Board. CopperBank thanks each of these former Board members for their valuable

contributions to the Company during their term on the Board.

Paul Harbidge

Paul Harbidge is a geologist with more than 25 years of experience in mining exploration and development

with a proven track record discovering world class gold deposits.

Mr. Harbidge was most recently the President and Chief Executive Officer of GT Gold and led the company to

a CA$456 million acquisition by Newmont Mining Corp. in May 2021 Prior to this Mr. Harbidge was the Senior

Vice President of Exploration at the multinational gold mining company Goldcorp Inc. from 2016 until its

acquisition by Newmont Mining Corp. in April 2019. Prior to that, Mr. Harbidge successfully led the

Exploration Team at the gold miner Randgold Resources Limited, resulting in five gold discoveries including

the +5Moz Gounkoto deposit in the Loulo area of Mali and the +4Moz Massawa deposit in Senegal.

Mr. Harbidge is also a director of the gold exploration company Japan Gold Corp. is a technical advisor to Kalo

Gold in Fiji and Gemdale Gold in Finland. He has a First-Class Honours Degree in Geology from Kingston

University, London UK and a Masters of Science in Mineral Exploration and Mining Geology from Leicester

University (UK).

Russell Ball

Russell Ball is the former Chief Executive Officer and Executive Chair of Calibre Mining Corp. Previously,

Mr. Ball was Executive Vice President and Chief Financial Officer of Goldcorp Inc., a role he assumed in

March 2016 after initially joining Goldcorp Inc. in 2013 and serving as Executive Vice President of Capital

Projects, Strategy and Corporate Development, including oversight of their primary growth projects. Prior to

his role with Goldcorp Inc., he served in varying capacities at Newmont Mining Corporation for almost twenty

years, culminating with his appointment as Executive Vice President and Chief Financial Officer. He currently

serves on the Board of Trevali Mining Corporation.

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Private Placement

In connection with the appointment of the new management team, the Company is pleased to announce that it

will be launching a private placement offering of units (the “Private Placement”) of the Company (“Units”)

at an offering price of $0.40 per Unit for aggregate proceeds of up to $5 million. Each Unit will be comprised

of one common shares of the Company (a “Common Share”) and one common share purchase warrant (a

“Warrant”). Each Warrant will be convertible into a Common Share at an exercise price of $0.60 for five

years from the closing of the Private Placement.

Closing of the Private Placement is subject to receipt of all applicable approvals and other customary conditions

to closing, including the approval of the CSE. Securities issued pursuant to the Private Placement will be subject

to a Canadian securities law resale restriction period expiring on the date that is four months and one day after

the closing date of the Private Placement. Insiders of the Company are expected to participate in the Private

Placement.

The Company intends to use the net proceeds from the Private Placement to advance the Company’s Copper

Creek and Contact Copper exploration projects, as well as general working capital.

Approval of New Long-Term Incentive Plan

In connection with the appointment of the new management team, and in line with the Company’s new

compensation strategy, the Company is announcing the adoption of a new, long-term incentive plan (the

“LTIP”). The LTIP will allow for the issuance of stock options, restricted share units, deferred share units and

performance share units and will replace the Company’s current stock option plan.

Under the terms of the LTIP, the maximum number of Common Shares reserved for issuance will be

19,296,967, which is equal to 20% of the Common Shares expected to be issued and outstanding following the

closing of the Private Placement. The Company plans to seek shareholder approval of the plan at an upcoming

special meeting of shareholders expected to be held on or about October 15, 2021.

In connection with the approval of the new compensation plan, the Board has also approved the grant of

13,709,467 stock options to eligible participants under the LTIP. Each stock option will entitle the holder thereof

to purchase one Common Share at a price of $0.40 for a period of three years from the date of the grant. The

grant of these stock options will be subject to the approval by shareholders of the LTIP at the upcoming special

meeting.

About CopperBank

CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The

United States of America. The Company trades on the Canadian Securities Exchange under the symbol “CBK”.

For additional information please contact:

Paul Harbidge, President and Chief Executive Officer

CopperBank Resources Corp.

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2

Phone: 778-987-2761

E-mail: [email protected]

Website: www.copperbankcorp.com

Forward-Looking and Cautionary Statements

Certain information in this release constitutes forward looking statements or information (“forward-looking statements”) under

applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of

the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or

revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking

statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future

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events or future performance and reflect management of CopperBank’s expectations or beliefs regarding future events. In certain cases,

forward-looking statements can be identified by the use of words such as “plans”, or “believes”, or variations of such words and

phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be

achieved” or the negative of these terms or comparable terminology.

Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the issuance of

stock options of CopperBank, the ability of the Company to close the Private Placement financing on the announced terms, the number

of Common Shares issued and outstanding following the closing of the Private Placement financing and the timing of the special meeting.

Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward looking

statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and

assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part,

on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be

materially different from those expressed or implied by forward looking information.

Such factors and assumptions include, but are not limited to, the Company’s ability to identify and complete one or more transactions

involving the Company’s portfolio assets that enhance shareholder value as part of management’s ongoing review of strategic

alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks,

uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any

future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not

limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company’s portfolio

assets that enhance shareholder value as part of management’s ongoing review of strategic alternatives in the current market conditions.

Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially

from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or

intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could

differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on

forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should

review the continuous disclosure filings that are available under CopperBank’s profile at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The

securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities

Act”), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered

under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.