Gunnison Copper Recognized by Arizona Governor Katie Hobbs for Job Creation at Johnson Camp US$2 Million in Refundable Arizona Tax Credits Approved Following the Creation of 81 Jobs in 2025, with 19 Additional Jobs Expected in 2026
Gunnison Copper Recognized by Arizona
Governor Katie Hobbs for Job Creation at
Johnson Camp
US$2 Million in Refundable Arizona Tax Credits Approved
Following the Creation of 81 Jobs in 2025, with 19 Additional
Jobs Expected in 2026
Phoenix, Arizona--(Newsfile Corp. - September 23, 2026) -
Gunnison Copper Corp. (TSX: GCU)
(OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company")
is pleased to announce that
President and CEO Craig Hallworth and People First Leader Alex Bovell recently met with the
Honorable Katie Hobbs, Governor of Arizona, in recognition of the Company's partnership with the State
of Arizona and its approval under the Arizona Commerce Authority's ("ACA") Qualified Facility Tax
Credit ("QFTC") Program.
The meeting follows Gunnison's May 2026 announcement that its Arizona operations had been
approved under the QFTC Program, providing the Company with access to non-dilutive, refundable state
income tax credits tied to qualifying capital investment and job creation. Gunnison created 81 qualifying
jobs during the 2025 tax year and expects to receive US$1.62 million in cash from refundable tax credits
in Q4 2026. The Company expects to create an additional 19 qualifying jobs during the 2026 tax year
and receive a further US$0.38 million in refundable tax credits in Q4 2027. In total, the program is
expected to provide Gunnison with US$2.0 million in non-dilutive cash funding based on the creation of
100 jobs at Johnson Camp.
From left: Alex Bovell, People First Leader of Gunnison; Arizona Governor Katie Hobbs; and Craig
Hallworth, President and CEO of Gunnison.
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The QFTC Program is designed to encourage investment in Arizona manufacturing facilities while
creating high-quality employment opportunities in the state. Gunnison's approval under the program
supports the Company's mission to produce American copper in Arizona while creating high-quality local
jobs and strengthening domestic supply chains.
Gunnison has delivered on those commitments through the ramp-up of its Johnson Camp Mine ("JCM"),
where the 81 jobs created during the 2025 tax year are supporting employment and economic activity in
southern Arizona. JCM is producing copper cathode, while Gunnison continues to advance its flagship
Gunnison Project toward development.
Craig Hallworth, President and CEO of Gunnison Copper, commented:
"It was a privilege to meet with Governor Hobbs and personally thank her for her leadership and strong
support for job creation, economic development and responsible mining in Arizona. We are sincerely
grateful to the Governor, her administration and the Arizona Commerce Authority for their partnership
and recognition of Johnson Camp's contribution to Cochise County and the State. We look forward to
building on this partnership as we continue investing in Arizona and advance the much larger Gunnison
Project."
Governor Katie Hobbs commented:
"Gunnison Copper's investment at Johnson Camp is creating high-quality jobs in Cochise County and
strengthening Arizona's position as a leader in American copper production," said Governor Katie
Hobbs. "My administration is committed to delivering opportunity to Arizonans in rural communities, and
these jobs demonstrate the tangible benefits of our partnership with Gunnison and the Arizona
Commerce Authority. Together we are bolstering Arizona's manufacturing economy and critical supply
chains."
The QFTC approval forms part of Gunnison's growing track record of government support as the
Company advances its U.S. copper production and development strategy. The Company continues to
engage with state and federal agencies on opportunities that support domestic critical mineral
production, manufacturing and secure U.S. supply chains.
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 main pit Measured and Indicated Mineral
Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion
pounds of copper (Measured Mineral Resource of 192 million tons at 0.37% containing 1.42 billion
pounds of copper and Indicated Mineral Resource of 655 million tons at 0.31% containing 3.77 billion
pounds of copper).
The Strong & Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing
facilities, is also included in the mine plan and hosts an Inferred Mineral Resource of 76 million tons
grading 0.49% total copper (0.32% CuOx) at a 0.07% cutoff, 0.56% zinc and 0.12 oz/ton silver,
containing approximately 740 million pounds of copper, including 483 million pounds of oxide copper, as
well as zinc (856 million pounds) and silver (9.0 million ounces).
A preliminary economic assessment ("PEA") was completed in March 2026 for the Gunnison Project
yielding robust economics including an NPV8% of $2 billion, IRR of 23%, and payback period of 3.9
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.
Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite
feeder deposits for Gunnison Project infrastructure, include South Star, and eight other deposits.
For more information on the Company, please visit our website at
www.GunnisonCopper.com
.
For additional information on the Gunnison Project please refer to the technical report titled "Gunnison
Project NI 43-101 Technical Report, Preliminary Economic Assessment, Cochise County, Arizona,
USA" with an effective date of March 18, 2026 filed on SEDAR+ at
www.sedarplus.ca
.
For additional information on the Johnson Camp Mine please refer to the technical report titled "Johnson
Camp Mine NI 43-101 Technical Report, Cochise County, Arizona, USA" with an effective date of March
18, 2026 filed on SEDAR+ at
www.sedarplus.ca
.
Dr. Roland Goodgame, Senior VP of Project Development of the Company is a Qualified Person as
defined by NI 43-101. Dr. Goodgame has reviewed and approved the technical information contained in
this news release.
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
E:
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 expected receipt and timing of US$1.62 million in
refundable tax credits in Q4 2026; (ii) the expected creation of an additional 19 qualifying jobs during the
2026 tax year and the expected receipt and timing of a further US$0.38 million in refundable tax credits
in Q4 2027; (iii) the intention to deploy the Nuton® technology at the Johnson Camp mine and future
production therefrom; (iv) the continued funding of the stage 2 work program by Nuton; (v) the details and
expected results of the stage two work program; (vi) future production and production capacity from the
Company's mineral projects; (vii) the results of the preliminary economic assessment on the Gunnison
Project; and (viii) the exploration and development of the Company's mineral projects.
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, the Company satisfying all applicable
QFTC Program requirements, the timing and receipt of the expected refundable tax credits, the creation
and qualification of the expected additional jobs, 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
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, timelines for government review of permit applications, 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 satisfying applicable QFTC Program
requirements, delays in or failure to receive the expected refundable tax credits, the Company not
creating or qualifying the expected additional jobs, 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, risks related to the delay in review and
approval of work plans and permits, 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 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.
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