Historic Resources at Blue Lake, additional and clarifying disclosure

Executive Summary

• Cupani Metals clarifies that the historical resource estimate for the Blue Lake project (4.37 Mt @ 0.87% Cu, 0.52% Ni, 0.84 g/t Pt‑Pd) is not a current mineral resource and should not be relied upon for valuation.
• The estimate was derived in 1989 by A.T. Avison using a rectangular polygonal technique with a 60 × 60 m drilling pattern and a 1% Cu+Ni cut‑off; no qualified person has verified it to NI 43‑101 standards.
• Cupani is actively seeking original drill logs, analytical certificates, and plans additional drilling to verify or update the historical resource.

Key Details

• Historical estimate: 4.37 million tonnes grading 0.87% Cu, 0.52% Ni, 0.84 g/t Pt‑Pd (reported 1989, classified as indicated at that time).
• Methodology used in 1989: rectangular polygonal technique; drilling spacing 60 × 60 m; cut‑off 1.5 m of 1% combined Cu+Ni; specific gravity assumed 4.6.
• No qualified person has performed sufficient work to reclassify the estimate as a current NI 43‑101 resource or reserve.
• Cupani is searching for original logs and analytical certificates from the 1987‑88 drilling program (no reports filed with Québec government).
• Historical context: nine mineralized lenses first drilled in the 1950s; La Fosse Platinum Group completed >100 drill holes (1987‑89) and a 350‑m adit for metallurgical testing; Rockland Mineral Corp confirmed lenses in 2011 with 16 drill holes.
• Core from La Fosse is stored on‑site; core from Rockland (2011) is stored in Chicoutimi, Québec.
• The historical estimate was used only as an illustrative example of deposit type in the Retty Lake region and is not indicative of other zones within Blue Lake.
• Cupani continues exploration for Cu‑Ni‑PGE magmatic deposits and potential extensions of the known lenses.

Notable Quotes

• “We believe this estimate is reasonable but cannot be relied upon as current.” – Cupani Metals (release)
• Technical content reviewed and approved by Jacquelin Gauthier, P.Geo., Vice President of Exploration, a Qualified Person under NI 43‑101.