Gunnison Copper Announces First Copper Sales from Johnson Camp Mine America’s Newest Copper Producer Delivers First Revenue Milestone
NEWS RELEASE
Gunnison Copper Announces First Copper Sales from Johnson Camp Mine
America’s Newest Copper Producer Delivers First Revenue Milestone
September 25, 2025
Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the
“Company”) is pleased to announce the first sales of pure copper cathode from its fully operational
Johnson Camp Mine (“JCM”) in southeast Arizona, with production capacity of up to 25 million lbs. of
copper cathode annually.
On September 15, 2025, Gunnison completed its inaugural copper sales, marking the start of revenue
generation following successful commissioning. Gunnison sold a total of 225,371 pounds of finished
copper cathode at an average realized copper price of US$4.64 per pound, generating gross proceeds
of approximately US$1,046,194.
“This milestone represents the first revenue from Johnson Camp and demonstrates the rapid progress
Gunnison has made in delivering value to shareholders since achieving first copper production just weeks
ago,” stated Craig Hallworth, Senior Vice President and Chief Financial Officer. “Strong copper prices
and increasing production levels position us well as we move towards a potential equity valuation re-
rating as a copper producer. We are especially proud that every pound sold is 100% Made-in-America
copper, directly supporting our nation as we work together to strengthen our supply chains.”
Key Highlights of First Copper Sales:
Revenue milestone achieved: First sales total 225,371 lbs. of finished copper cathode, generating
over US$1.0 million in gross proceeds.
Strengthened U.S. supply chain: Sales represent the first Made-in-America copper from JCM
delivered into domestic markets.
Nuton® Technology: First copper production using Nuton’s bio-leaching technology is expected
later this year. Nuton , a venture of Rio Tinto, will be deploying this innovative technoogy at scale
for the first time at Johnson Camp.
Continued growth trajectory: JCM has a nameplate capacity of 25 million pounds of finished
copper cathode annually.
Johnson Camp Mine commenced production in the last week of August 2025, ahead of schedule, and
with an excellent health and safety record. Copper cathode from JCM is fully produced in the United
States, contributing directly to American energy independence, advanced manufacturing, technology,
and national defense supply chains.
EMBED VIDEO https://www.youtube.com/watch?v=ndGnF4Jl4xY
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Figure 1 – First copper sale being shipped from Johnson Camp Mine.
ABOUT GUNNISON COPPER
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the
Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in
the Southern Arizona Copper Belt.
Its flagship asset, the Gunnison Copper Project, has a Measured and Indicated Mineral Resource
containing over 831,6 million tons with a total copper grade of 0.31% (Measured Mineral Resource of
191.3 million tons at 0.37% and Indicated Mineral Resource of 640.2 million tons at 0.29%), and a
preliminary economic assessment (“PEA”) yielding robust economics including an NPV8% of $1.3Billion,
IRR of 20.9%, and payback period of 4.1 years. It is being developed as a conventional operation with
open pit mining, heap leach, and SX/EW refinery to produce finished copper cathode on-site with direct
rail link.
The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too
speculative geologically to have the economic considerations applied to them that would enable them to
be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be
realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
In addition, Gunnison’s Johnson Camp Asset, which is now in production, is fully funded by Nuton LLC,
a Rio Tinto Venture, with a production capacity of up to 25 million lbs of finished copper cathode annually.
Copper revenues from Johnson Camp accrue to Nuton LLC until such time as Nuton LLC has received
payback of all of its funding for Johnson Camp.
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Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite
feeder deposits for Gunnison Project infrastructure, include Strong and Harris, South Star, and eight other
deposits.
For additional information on the Gunnison Project, including the PEA and mineral resource estimate,
please refer to the Company’s technical report entitled “Gunnison Project NI 43-101 Technical Report
Preliminary Economic Assessment” dated effective November 1, 2024 and available on SEDAR+ at
www.sedarplus.ca.
Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of the Company is a Qualified Person
as defined by NI 43-101. Dr. Twyerould has reviewed and is responsible for the technical information
contained in this news release.
For more information on Gunnison, please visit our website at www.GunnisonCopper.com
ABOUT NUTON
Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton
is a portfolio of proprietary copper leaching technologies and capability. Nuton has the potential to
economically unlock copper from hard-to-leach ores, including primary sulfides and, in doing so, increase
domestic production of critical minerals to support the energy transition. Nuton technologies can achieve
market-leading recovery rates and boost copper production in new, ongoing and historical operations,
increasing resource utilization and maximizing value.
With significantly lower energy and water needs than conventional concentrating and smelting, and the
ability to produce copper cathode at the mine site, Nuton offers a reliable source of domestically produced
copper, with a short mine-to-metal supply chain and the ambition to set industry-leading ESG credentials.
One of the key differentiators of Nuton is the ambition to produce the world’s lightest environmental
footprint copper while having at least one Positive Impact at each of its deployment sites, across its five
pillars: water, energy, land, materials and society.
For more information, please visit https://nuton.tech.
For further information regarding this press release, please contact:
Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018
Melissa Mackie
T: 647.533.4536
www.GunnisonCopper.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may
occur in the future. Forward looking information contained in this news release includes, but is not limited to,
statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future
production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected
results of the stage two work program; (iv) timelines for future production and production capacity from the
Company’s mineral projects; (v) potential equity valuation re-rating as a copper producer; (vi) the results of the
preliminary economic assessment on the Gunnison Project; and (vii) the exploration and development of the
Company’s mineral projects.
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In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or
"does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future events or performance. Forward-looking information
contained in this news release is based on certain factors and assumptions regarding, among other things, Nuton
will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and
implement the Company’s operational plans, the estimation of mineral resources, the realization of resource and
reserve estimates, , copper and other metal prices, the timing and amount of future development expenditures, the
estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the
price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary
regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency
fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers
these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking information. Such factors include risks
related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund
the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral
deposits, including risks relating to changes in project parameters as plans continue to be redefined including the
possibility that mining operations may not be sustained at the Gunnison Copper Project, the production decision at
JCM was not based on any feasibility studies of mineral reserves demonstrating economic and technical viability of
JCM and as a result, there may be increased uncertainty and risks of achieving any particular level of recovery of
minerals from JCM, or the costs of such recovery, further JCM does not have established mineral reserves, the
Company faces higher risks that anticipated rates of production and production costs, as a result these risks could
have a material impact on the ability to generate revenues and cash flows to fund operations from and achieve or
maintain profitable operations at JCM, risks related to the delay in approval of work plans, variations in mineral
resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating
to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related
products, risks related to increased competition in the market for copper and related products, risks related to current
global financial conditions, risks related to current global financial conditions on the Company’s business,
uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to
access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the
conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs
and the risk of delays or increased costs that might be encountered during the construction or mining process,
regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing,
capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental
risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with
applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place
undue reliance on forward-looking information. The forward-looking information is made as of the date of this news
release. Except as required by applicable securities laws, the Company does not undertake any obligation to
publicly update or revise any forward-looking information.