Gunnison to use Lunasonde tech for survey at Cochise

Mr. Stephen Twyerould reports GUNNISON COPPER ENTERS INTO COLLABORATION FRAMEWORK AGREEMENT WITH LUNASONDE TO PERFORM INITIAL SURVEY FOR CRITICAL MINERALS IN ARIZONA'S COCHISE MINING DISTRICT Gunnison Copper Corp. has entered into a collaboration framework agreement (CFA) with Lunasonde Inc., a defence and mineral exploration technology company focused on next-generation subsurface remote sensing using airborne georadiotomography (aGRT) technology. Under the agreement, Lunasonde will deploy its proprietary remote sensing technology to conduct an initial high-resolution subsurface survey over a defined portion of Gunnison's mineral property portfolio within the company's Cochise mining district in southern Arizona. The work program is expected to include test and calibration flights, followed by data processing and analysis to generate three-dimensional subsurface imaging of identified anomalies with the potential to host critical minerals. The collaboration is intended to evaluate the potential application of Lunasonde's technology as a complementary exploration and targeting tool across Gunnison's land position, which hosts multiple known copper deposits within close proximity to existing infrastructure and operations. "This collaboration reflects Gunnison's disciplined approach to innovation and data-driven decision-making," said Stephen Twyerould, president and chief executive officer of Gunnison Copper. "We are continuously evaluating advanced technologies that have the potential to enhance our geological understanding, improve targeting efficiency and support long-term value creation across the Cochise mining district." "Our partnership with Gunnison is a pivotal first step towards deploying aGRT for mineral exploration across the globe and securing our nation's critical mineral supply," said Jeremiah Pate, founder and chief technology officer of Lunasonde. Lunasonde's technology is designed to identify subsurface features from aerial and space-based platforms, offering a non-invasive method of data acquisition that may complement traditional geophysical and geological data sets. Results from the initial survey will be assessed alongside Gunnison's existing technical information to determine potential future applications. The company also announces that it has received a third conversion notice from Nebari Natural Resources Credit Fund I LP pursuant to the terms of the second amended and restated credit agreement (the second ARCA). See the company's press release dated April 24, 2025, for further details of the second ARCA. The conversion benefits the company as it reduces the principal amount of the second ARCA. With a full conversion of the convertible principal amount by Nebari, and the intention to use the proceeds to be received from sale of the previously announced 48C tax credits to repay the remaining convertible portion of the second ARCA, the second ARCA could be repaid in full. The third conversion is for $500,000 (U.S.) at the conversion price of 20.97 U.S. cents (converted from 30 cents), resulting in the issuance of 2,384,358 common shares. Nebari have advised that they are converting for the purpose of sale and may convert further amounts. About Gunnison Copper Corp. Gunnison Copper is a multiasset pure-play copper developer and producer that controls the Cochise mining district (the district), containing 12 known deposits within an eight-kilometre economic radius, in the Southern Arizona copper belt. Its flagship asset, the Gunnison copper project, has a measured and indicated mineral resource containing over 831.6 million tons with a total copper grade of 0.31 per cent (measured mineral resource of 191.3 million tons at 0.37 per cent and indicated mineral resource of 640.2 million tons at 0.29 per cent), and a preliminary economic assessment (PEA) yielding robust economics including an NPV 8 per cent (net present value, 8-per-cent discount rate) of $1.3-billion, IRR (internal rate of return) of 20.9 per cent and payback period of 4.1 years. It is being developed as a conventional operation with open pit mining, heap leach and SX/EW refinery to produce finished copper cathode on site with direct rail link. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. In addition, Gunnison's Johnson Camp asset, which is now in production, is fully financed by Nuton LLC, a Rio Tinto venture, with a production capacity of up to 25 million pounds of finished copper cathode annually. Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite feeder deposits for Gunnison project infrastructure, include Strong and Harris, South Star, and eight other deposits. Dr. Stephen Twyerould, fellow of AUSIMM, president and chief executive officer of the company, is a qualified person as defined by National Instrument 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this news release. We seek Safe Harbor.