Copper Road reviews Ben Nevis project option terms

Executive Summary

• Copper Road Resources Inc. issued a corporate update correcting errors in two prior press releases: one regarding the issuance of flow-through units and another regarding the grant of stock options to consultants.
• The company corrected the number of flow-through units issued in a financing completed on Dec. 31, 2025, reducing the count from 3,380,889 to 3,380,886 units.
• The company corrected the number of stock options granted to consultants on Dec. 8, 2025, increasing the grant from 1 million to 2 million options, with specific vesting terms and exercise prices clarified.
• The update reaffirms the company's option agreements to acquire the Ben Nevis project in Northeastern Ontario, noting initial milestone payments made and remaining obligations.

Key Details

• Ben Nevis Project Acquisition:
  • Entered into four separate option agreements to earn a 100% interest in 174 mining cell claims and 13 patented mining claims.
  • Total area: approximately 10,232 hectares in Northeastern Ontario.
  • Initial aggregate milestone payments made: $37,500 and 2.25 million common shares.
  • Remaining payments are detailed in an attached table (not provided in text).
• Financing Correction (Dec. 31, 2025 Release):
  • Original error: Reported issuance of 3,380,889 flow-through units.
  • Correction: The actual number issued was 3,380,886 flow-through units.
  • Total financing context: Aggregate total of 8,747,500 common share units and 16,033,333 flow-through units for gross proceeds of approximately $1,084,900.
• Stock Option Grant Correction (Dec. 8, 2025 Release):
  • Original error: Reported grant of 1 million stock options to consultants.
  • Correction: The actual number granted was 2 million stock options.
  • Terms: Each option exercisable for a common share at an exercise price of $0.05 per share.
  • Term: Two-year term.
  • Vesting: Half vested immediately; the other half is subject to the company reaching certain exploration milestones.
  • Investor Relations Status: Consultants are not performing investor relations activities. All prior IR agreements have been terminated.
• Safe Harbor: The release includes a standard "We seek Safe Harbor" disclaimer.

Notable Quotes

• None provided in the text.