Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) is pleased to announce the closing of its previously announced non-brokered financing for aggregate gross proceeds of C$13,112,270.10 from the issuance of 29,138,378 Units. This total comprises: (i) a LIFE (defined below) offering of 24,858,878 Units for gross proceeds of C$11,186,495.10; and (ii) a concurrent 4-Month Hold offering of 4,279,500 Units for gross proceeds of C$1,925,775.

Each Unit, issued at a price of C$0.45 per Unit, consists of one common share of the Company and one-half of one common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at a price of C$0.65 for a period of 36 months from the date of issuance.

Net proceeds from the Offering will be used for drilling, metallurgical testing and permitting activities that will be incorporated in a pre-feasibility study for the Gunnison Copper Project, funding US head office general and administrative expenses, partial repayment of outstanding debt due to Nebari, and for general working capital purposes.

The LIFE Offering Units were sold to purchasers resident in Canada pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable pursuant to the sale of the LIFE Offering Units to purchasers resident in Canada are immediately freely tradeable under applicable Canadian securities legislation.

The Hold Offering Units were offered by way of private placement in Canada and in jurisdictions outside of Canada on a private placement or equivalent basis, in each case in accordance with all applicable laws. The securities issuable pursuant to the sale of Hold Units will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws that expires March 1, 2026.

Red Cloud Securities Inc. and certain other finders received cash commissions equal to 6% of the gross proceeds raised from subscribers introduced by such finders and were issued non-transferable finder warrants equal to 6% of the number of Units sold to such subscribers. Each finder warrant issuable in connection with the LIFE Offering Units is exercisable into one Common Share at C$0.45 for a period of 36 months from issuance. Each finder warrant issuable in connection with the Hold Offering Units is exercisable into one Common Share at C$0.485 for a period of 36 months from issuance.

There is an offering document related to the Units being sold pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.gunnisoncopper.com.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 Measured and Indicated Mineral Resource containing over 831.6 million tons with a total copper grade of 0.31% (Measured Mineral Resource of 191.3 million tons at 0.37% and Indicated Mineral Resource of 640.2 million tons at 0.29%), and a preliminary economic assessment (“PEA”) yielding robust economics including an NPV8% of $1.3 billion, IRR of 20.9%, 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 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 Strong and Harris, South Star, and eight other deposits.

For additional information on the Gunnison Project, including the PEA and mineral resource estimate, please refer to the Company’s technical report entitled “Gunnison Project NI 43-101 Technical Report Preliminary Economic Assessment” dated effective November 1, 2024 and available on SEDAR+ at www.sedarplus.ca.

Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of the Company is a Qualified Person as defined by NI 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this news release.