Certification submission validates delivery on commitments supporting domestic copper production and U.S. critical mineral supply chains

Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) is pleased to announce that it has submitted its certification documentation to the U.S. Department of Energy for the Section 48C Advanced Energy Project Tax Credit awarded to the Company’s Johnson Camp Mine in Arizona, a key milestone towards monetization that validates the successful execution of the Company’s commitments under the program and the commencement of domestic copper production.

The submission confirms that the project has met the requirements outlined in the Company’s 48C application, including placing the eligible assets into service and commencing production in 2025.

“We are deeply grateful to the Department of Energy for supporting our project and believe certification proves our ability to successfully deliver on our commitments to the U.S. Government,” said Craig Hallworth, President and Chief Executive Officer of Gunnison Copper. “The Johnson Camp Mine is now producing and selling copper in Arizona consistent with our vision to fuel America’s security and prosperity through a resilient domestic copper supply that powers innovation, industry, and future generations.”

The Section 48C Advanced Energy Project Tax Credit program was established to support investments in domestic manufacturing, critical minerals production, and advanced energy projects that strengthen U.S. supply chains and enhance energy security. Gunnison and Nuton were selected to receive US$13.9 million in tax credits under the program, with the certification submission representing an important step toward the sale and monetization of the certified credits.

The Company’s Johnson Camp Mine achieved first production in 2025 and is currently producing copper cathode from run-of-mine oxide material and Nuton® bioleaching technology of sulfide material. JCM has created skilled employment opportunities, generated investment throughout southeastern Arizona, and re-started copper production in the Cochise Mining District. Through the deployment of Nuton’s sulfide bioleaching technology alongside conventional SX/EW processing, the operation is also advancing a lower environmental impact approach to domestic copper production.

The project also reflects the benefits of collaboration between government and industry to accelerate investment in strategically important domestic resources.

Building on the success of Johnson Camp Mine, Gunnison is accelerating development of its larger flagship Gunnison Copper Project, which has the potential to become a significant source of domestic copper production in the United States. The final step in the 48C process is the approval by the Department of Energy of the certification documents and thereafter the tax credits will be distributed to Gunnison. The actual amount of tax credits received will be determined at the conclusion of the process and are subject to an allocation agreed to with Nuton LLC under a tax partnership agreement.

ABOUT GUNNISON COPPER

Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in the Southern Arizona Copper Belt.

Its flagship asset, the Gunnison Copper Project, has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion pounds of copper (Measured Mineral Resource of 192 million tons at 0.37% containing 1.42 billion pounds of copper and Indicated Mineral Resource of 655 million tons at 0.31% containing 3.77 billion pounds of copper).

The Strong & Harris satellite deposit, located approximately 1.9 miles from the Gunnison processing facilities, is also included in the mine plan and hosts an Inferred Mineral Resource of 76 million tons grading 0.49% total copper (0.32% CuOx) at a 0.07% cutoff, 0.56% zinc and 0.12% silver, containing approximately 740 million pounds of copper, including 483 million pounds of oxide copper, as well as zinc (856 million pounds) and silver (9.0 million ounces).

A preliminary economic assessment was completed in March 2026 for the Gunnison Project yielding robust economics including an NPV8% of $2 billion, IRR of 23%, and payback period of 3.9 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 funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million lbs 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 South Star, and eight other deposits.