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CopperCorp Awarded EDGI Co-Funding for Initial Jukes Cu-Au Prospect Drill Program

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Vancouver, British Columbia--(Newsfile Corp. - September 27, 2024) - CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) ("CopperCorp" or the "Company") is pleased to announce that it has been awarded a co-funded grant under the Tasmanian Government's Exploration Drilling Grant Initiative (EDGI) scheme for drilling at the Jukes prospect on its 100% owned Razorback Copper-Gold-REE property in western Tasmania, Australia (Figures 1 and 2).

The Company applied for co-funding to undertake the drilling of two proposed 200m deep diamond core drill holes (total 400m of drilling) at the Jukes prospect. The EDGI grant allows the Company to apply for a total refund of up to AUD $70,000 from 50% of direct diamond drilling costs incurred in drilling the proposed holes, subject to signing of a funding agreement.

As previously reported1,2, the Company commenced diamond drilling at Jukes during early September with the first drill hole, JDD001 (Figures 3 and 4), successfully completed to a depth of 214m. Drilling of a second diamond drill hole, JDD002, has commenced from the same pad as JDD001 (Figure 4). The planned initial drill holes are designed to target depth extensions to high-grade Cu-Au mineralization recently sampled4 in underground historical Jukes No. 3 Main Adit (31.0m @ 1.48% Cu and 0.83g/t Au, including 9.0m @ 2.92% Cu and 1.79g/t Au) and will test the current interpretation that these high-grade mineralized zones occur associated with NNW-trending fault structures, and in particular at the intersection of these structures with the NE-trending Jukes fault. Pending initial information and results, these drill holes may be extended to test deeper parts of the Jukes system.

Stephen Swatton, President and CEO of CopperCorp commented: 'The Company are delighted to receive this grant from the Tasmanian Government. The grant is merit based and is testament to the quality of the work being undertaken by the CopperCorp team in Tasmania and to the importance of mining, and in particular the development of 'climate transition metals' such as copper, to economy of the State of Tasmania'.

About the Jukes Prospect

The Jukes prospect is located within the 100% owned Razorback Cu-Au-REE property, 10km south of the Sibanye-Stillwater owned Mt Lyell copper-gold mining camp. Recent work by CopperCorp, including 3D inversion modelling of magnetic and gravity data indicates a vertically extensive pipe-like magnetic feature with a partially coincident to off-set residual gravity anomaly at Jukes3. The position of the magnetic and gravity anomalies adjacent to large fertile fault structures is considered highly prospective for structurally controlled mineralized pipes typical of the Mt Lyell system where anomalous gravity features occur associated with larger mineralized pipe bodies that have depth extensive chlorite-magnetite-apatite-biotite alteration zones (e.g. Prince Lyell and Western Tharsis orebodies)3.