Accretive transaction prevents the issuance of 28.9 million common shares at a 54.4% discount to the Company’s recent equity financing price

Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) is pleased to announce that it has completed the cash settlement of its outstanding convertible debentures with Greenstone Excelsior Holdings LP and Greenstone Resources LP, preventing the issuance of approximately 28.9 million common shares that would have been issued had the Debentures been converted into common shares of the Company.

The cash settlement significantly reduces potential shareholder dilution and further strengthens the Company’s capital structure. The effective conversion price of the Debentures was approximately US$0.135 per share, which was a 54.4% discount to the effective price of approximately US$0.2958 per share of the Company’s recently completed equity financing. Based on these numbers, the transaction reduces the dilution to shareholders by a value of approximately US$4.66 million relative to the Company’s recent equity financing price, equivalent to approximately US$0.01 per outstanding common share.

“This transaction reflects our disciplined approach to capital allocation and our commitment to creating shareholder value,” said Craig Hallworth, President and Chief Executive Officer of Gunnison Copper. “By settling the convertible debt in cash, we prevented the issuance of approximately 28.9 million common shares, eliminating a significant source of potential dilution while removing a meaningful market overhang. Together with our recently completed financing, this transaction strengthens our balance sheet and positions us to accelerate advancement of the Gunnison Copper Project.”

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.