Copper Lake Completes Preliminary Assessment on the Gold Potential of Its Marshall Lake Copper-Zinc-Silver VMS Property, Northwestern Ontario

Executive Summary

• Copper Lake Resources completed a preliminary assessment of gold potential on its Marshall Lake VMS property, identifying three prospective east‑west trending zones (Adnarod, Lin, Billiton‑2) with historic drill intercepts and grab/ chip samples showing notable Au, Ag, Cu and Zn grades.
• The Adnarod Zone returned historic drill intercepts of up to 14.54 g/t Au over 3.81 m and 1.64 g/t Au over 2.53 m; the Lin Zone produced grab samples as high as 4.51 g/t Au, 146 g/t Ag and 6.02 % Cu.
• The company plans significant diamond‑drilling programs and a forthcoming large‑loop electromagnetic (LLEM) survey to further define drill targets across all three zones.

Key Details

• Adnarod Zone
• Historic drill Hole 1: 14.54 g/t Au, 0.18 % Cu, 0.87 % Zn over 3.81 m.
• Historic drill Hole 2: 1.64 g/t Au, 189 g/t Ag, 1.99 % Cu, 7.67 % Zn over 2.53 m.

• Zone traced ~300 m strike; completely open along strike and at depth; only two shallow historic holes drilled – additional diamond drilling required.

• Lin Zone

• Structural corridor >1,500 m long, never drill‑tested.
• Historical grab samples:
  • 16.5 % Cu, 0.32 % Zn, 381 g/t Ag, 4.12 g/t Au (MK‑06‑096)
  • 8.72 % Cu, 0.25 % Zn, 229 g/t Ag, 15.35 g/t Au (MK‑06‑098)
  • 18.0 % Cu, 0.46 % Zn, 408 g/t Ag, 5.19 g/t Au (MK‑06‑099)
  • 4.18 % Cu, 0.13 % Zn, 173 g/t Ag, 3.21 g/t Au (MK‑06‑101)
• Chip sampling (2016): up to 2.03 g/t Au, 35 g/t Ag, 0.26 % Cu, 5.10 % Zn over 0.35 m.

• Grab sampling: up to 4.51 g/t Au, 146 g/t Ag, 6.02 % Cu, 1.49 % Zn.

• Billiton‑2 Zone

• Located ~200 m north of historic Billiton deposit; limited historic drilling; traced >300 m strike; strong folding and alteration noted.

• No quantitative drill results disclosed – further work recommended.

• Planned Work

• Diamond‑drilling campaigns to be launched on all three zones to test gold, silver, lead and zinc potential.

• Upcoming ground large‑loop electromagnetic (LLEM) survey covering the three target areas to refine drill targets.

• Quality Assurance / Quality Control

• Sampling overseen by independent geologist Craig Fitchett, P.Geo., Orix Geoscience.

• Samples processed at ALS‑Chemex (Thunder Bay) with fire‑assay for Au and ICP‑AES for multi‑element suite; QA/QC standards and blanks inserted.

• Qualified Person

• Release reviewed and approved by Donald Hoy, M.Sc., P.Geo., Vice President of Exploration – Qualified Person under NI 43‑101.

Notable Quotes

“The preliminary assessment has clearly identified multiple high‑potential gold‑bearing structures that warrant immediate follow‑up drilling,” said Terry MacDonald, CEO of Copper Lake Resources Ltd.

Materiality Assessment: Non‑Material – Positive (exploratory results are encouraging but do not yet constitute a material change to the company’s financial position).