CopperCorp Reports Final Jukes Assay Results, Awarded Tasmanian Government Drilling Grant

CopperCorp Resources Inc. (CPER) has released the final assay results from its Jukes diamond drilling program, completing a campaign that tested approximately 350 meters of strike to depths of roughly 500 meters below surface. The program comprised eight diamond holes totaling 3,202 meters. While assays for holes JDD001 through JDD007 were previously disclosed in releases dated December 18, 2025, and March 10, 2026, the company has now published data for the final hole, JDD008.

The single new assay from hole JDD008 reported 12.0 meters at 0.54% copper, 0.14 g/t gold, and 0.89 g/t silver from 92.0 meters downhole, including a higher-grade interval of 3.0 meters at 0.85% copper, 0.16 g/t gold, and 1.05 g/t silver. The hole was collared at coordinates 383,675E / 5,331,180N (MGA94 Z55) at a reduced level of 625 meters, with an end-of-hole depth of 402.9 meters, an azimuth of 277.8°, and a dip of -71.5°. The reported intervals are based on core length, and the company stated that true widths have not yet been determined.

Assay estimation utilized downhole length-weighted calculations with cutoffs of 0.1% copper for broad low-grade intervals and 0.3% copper for higher-grade zones. Internal dilution was applied at 5.0 meters and 2.0 meters respectively, with no top-cut applied.

In corporate developments, CopperCorp announced a binding agreement on October 26, 2026, to sell 100% of its Skyline Cu-Au project to Bubalus Resources (ASX: BUS). The transaction includes A$1.0 million in cash, inclusive of a prior A$100,000 exclusivity payment and net of bridge-loan principal and interest, along with 28,571,429 Bubalus shares valued at a deemed A$0.07, totaling A$2.0 million. The deal also features a contingent payment of A$1.5 million if a JORC Measured and Indicated resource of at least 200,000 tonnes of contained copper equivalent is achieved within five years, and a 0.5%/2.0% net smelter return. CopperCorp would retain approximately 19.95% of Bubalus.

The company also received A$100,000 under Round 12 of the Tasmanian EDGI, which provides up to 50% co-funding of eligible direct drilling costs, allocated to the Jukes prospect. CopperCorp indicated that comprehensive results from ground north and northeast of the Alpine-Stellar zone will be released in the coming months. The Alpine-Stellar area is described as having yielded 37 holes exceeding 9,000 meters in total drilling.

The recent disclosure contained inconsistencies regarding the allocation of the Tasmanian grant. The same A$100,000 grant was referenced in the October 26, 2026 release as part-funding Jasper Hills drilling, but seven days later it was allocated to Jukes, a prospect within the divested package. The release simultaneously described Jukes as strategically positioned on the eastern margins of the AMC Property package, leaving unresolved which entity retains the benefit. Additionally, the release used past tense to describe the divestment transaction, despite the deal not yet having closed.

CopperCorp Resources Inc. (CPER) did not release earnings results today. The company provided prior-period context, noting that for the first half of 2026, it reported a net loss of C$1,516,095 and an operating cash outflow of C$1,434,560. Cash holdings stood at C$235,809 as of 30 June 2026, down from C$1,677,866 at 31 December 2025. Working capital was recorded at C$189,310, and the company issued an explicit going-concern statement indicating that additional financing is required within twelve months, with no assurance of success.

The company has agreed to sell Jukes. A 12 m at 0.54% Cu result cannot re-rate an equity that no longer owns the tonnes. CopperCorp's remaining economic interest is ~19.95% of an ASX microcap, a 0.5-2.0% NSR with a buyback, and a A$1.5M contingent payment that requires a JORC M&I resource of 200,000 t contained CuEq — roughly 1.3-1.7x the entire Alpine-Stellar exploration target's contained copper, and far beyond anything Jukes has demonstrated in eight holes. Today's assay neither accelerates nor threatens that trigger.

The stock broke from a five-month C$0.04 shelf on 23 Oct 2026 and closed at C$0.03 on 30 Oct, at its 52-week low, having fallen from C$0.11 in late January. The market has paid nothing for Jukes, for the sale, or for the story. This release is neither damaging nor positive for the stock.

CopperCorp is a pre-revenue explorer with ~C$3.6M market cap, C$0.24M of cash at the last balance sheet, and no resource. The material items in the portfolio right now are the pending closing (A$1.0M cash, less a bridge loan, plus A$2.0M of escrowed Bubalus paper), any financing, and Alpine-Stellar. The A$100,000 grant moves nothing.

The expected share-price impact is flat to marginally negative drift, on the order of 0-3%, dominated by the >C$0.03 financing overhang rather than by this hole.

CopperCorp Resources Inc. (TSXV: CPER; OTCQB: CPCPF) is a pre-revenue explorer headquartered in Vancouver, operating in western Tasmania with a technical office and core facility at Zeehan. The company’s management team includes President, CEO, and Director Stephen Swatton, a former executive at BHP and Rio Tinto, alongside CFO Rob Scott. The board of directors comprises Sam Garrett, Sean Westbrook, Jason Bahnsen, and Alan Coutts.

Following the closing of recent transactions, CopperCorp retained the AMC Project and the 70 km² Jasper Hills Project, which includes the Whaler target. The AMC Project’s tenement area was reduced by approximately 438 km² to 628 km², a figure that supersedes the 1,066 km² and "~1,600 km²" areas cited in the company’s January 2026 presentation. The Alpine-Stellar target within the Jasper Hills Project serves as the company’s flagship exploration target. This area features an exploration target of 15-25 Mt @ 0.6-0.8% Cu, representing 120-150 kt contained copper. The target is supported by 37 holes totaling 9,114 m of drilling, a strike extent of approximately 600 m, and a depth of at least 440 m. Reported intercepts include 23.0 m @ 1.14% Cu from 393 m, 5.0 m @ 2.06% Cu within 31.6 m @ 0.64% Cu, and 18.0 m @ 0.90% Cu within 45.0 m @ 0.62% Cu. The company notes that this is an exploration target, not a mineral resource, and is not yet supported by a preliminary economic assessment.

The company divested the Skyline and Razorback projects, including the Jukes and Hydes properties. Channel sampling at Hydes returned 24 m @ 0.74% Cu / 0.36 g/t Au.

In the first half of 2026, CopperCorp reported a net loss of C$1,516,095 and an operating cash outflow of C$1,434,560. The company held C$235,809 in cash and C$939,911 in total equity, with 118,957,146 shares outstanding. A going-concern flag was disclosed in the financial statements. At a share price of C$0.03, the equity trades at roughly 3.8x book value.

CopperCorp operates in a jurisdiction with established infrastructure, including sealed road access, heavy rail, grid hydro power, and the Burnie deep-water port.