Gunnison Copper Launches Major District-Wide Drilling Program to Support Resource Expansion, Metallurgical Optimization, and Resource Conversion

Executive Summary

• Gunnison Copper Corp. announced a fully contracted, major district-wide drilling program at its Gunnison Copper Project and Strong & Harris satellite deposit in Arizona's Cochise Mining District.
• The program comprises up to 120 drill holes (~138,000 ft) with a total direct cost of US$15.0M, designed to support a Pre-Feasibility Study (PFS), resource expansion, and metallurgical optimization.
• Drilling will commence in June 2026 with two rigs for metallurgical work, scaling to six rigs after a new core processing facility is completed in Q3 2026, with preliminary results expected in 6 months and full results in 12-15 months.

Key Details

• Drilling Scope & Cost: Up to 120 drill holes totaling approximately 138,000 feet (42,000 meters); total direct cost estimated at US$15.0M (excluding employee payroll).
• Timeline & Rig Mobilization: Mobilization expected June 2026; initial phase utilizes 2 drill rigs; capacity will increase to up to 6 drill rigs following completion of a new core processing and storage facility in Q3 2026.
• Metallurgical Optimization Phase: Up to 36 drill holes (~33,000 ft / 10,000 m) to provide representative samples for engineering studies and mine planning; includes up to 270 column leach tests over the next 12 months to optimize heap leaching.
• Resource Expansion & Conversion Phase: Following metallurgical drilling, up to 84 holes (~105,000 ft / 32,000 m) will focus on testing mineralization extensions, identifying new zones, upgrading Inferred resources to Measured/Indicated categories, defining deposit limits, and evaluating depth continuation.
• Results Timeline: Preliminary drilling results expected within 6 months; full results expected within 12 to 15 months.
• Project Context & Economics: Program supports ongoing PFS and permitting initiatives for the district-scale copper assets. The project's March 2026 PEA yielded an NPV8% of $2 billion, IRR of 23%, and a 3.9-year payback period. The flagship Gunnison pit hosts 846M tons @ 0.33% Cu, while the Strong & Harris satellite deposit hosts 76M tons @ 0.49% Cu (Inferred).

Notable Quotes

• "We are moving forward with a great sense of urgency to deliver on our vision of fueling America's security and prosperity by acting to rapidly increase the domestic copper supply," said Craig Hallworth, President and CEO. "This program is designed not only to potentially add more copper to our flagship project, but also support metallurgical optimization and the resource conversion required to support a mineral reserve in our planned PFS."