Study Projects a Total Present Value Output Of $14.6 Billion, Supporting More than 53,000 Job-Years of Employment and Generating $2.07 Billion In Labor Income Across the U.S. Economy Over the Life of the Gunnison Project

Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) America’s newest copper producer, is pleased to announce the preliminary results of an independent Economic Impact Study conducted by the Eller Partnerships Office at the University of Arizona, which underscores the transformative economic potential of the Company’s flagship Gunnison Copper Project in Southern Arizona. All amounts are reported in U.S. dollars unless otherwise noted.

The study employed nationally accepted economic modeling tools to assess the cumulative potential impact of the Company’s flagship Gunnison Project’s operations across the national, state, and county levels. The report is currently being finalized, with full publication expected to be available soon.

“The University of Arizona’s findings support what we have long emphasized — the Gunnison Copper Project has the potential to not only be a nationally significant source of Made-in-America copper, but also a generational economic driver for Arizona and Cochise County,” stated Craig Hallworth, Senior Vice President and CFO of Gunnison Copper. “The projected multi-billion-dollar impact and thousands of jobs over the life-of-mine demonstrate the scale of the opportunity, reinforcing Gunnison’s importance to U.S. energy, defense, and manufacturing supply chains.”

“Eller Partnerships Office was happy to collaborate with Gunnison Copper on this project, building on the strength of the Eller College in economic impact analysis and the University’s strategic focus on sustainable mining,” said Anastasiya Ghosh, associate dean, partnerships, Eller College of Management.

Key Report Metrics and Findings Include:

Average Annual Effects (Direct):

• Revenue: $625 million
• Employment: 524 jobs
• Labor Income: $50 million

Combined Direct, Indirect & Induced Effects (Annual):

• National level: $1.43 billion in output, 2,676 jobs, $209 million in labor income
• Arizona: $978 million in output, 1,739 jobs, $129 million in labor income
• District 6, including Cochise County: $880 million in output, 765 jobs, $64 million in labor income

Cumulative Life-of-Mine Impacts:

• United States: $14.6 billion in output, 53,521 job-years, $2.07 billion in labor income
• Arizona: $10.01 billion in output, 34,783 job-years, $1.28 billion in labor income
• District 6, including Cochise County: $9.02 billion in output, 15,308 job-years, $633 million in labor income

All amounts from the study represent the forecasted economic impact of the Gunnison Project in the State of Arizona and nationally in the USA. They do not represent an economic analysis of the Gunnison Project itself and actual economic impact will be determined after the Gunnison Project is developed into an operating mine, which remains subject to completion of a feasibility study, financing and permitting.

The Company also announces that it has received an initial conversion notice from Nebari Natural Resources Credit Fund I LP pursuant to the terms of the Second Amended and Restated Credit Agreement. 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 non-convertible portion of the Second ARCA, the Second ARCA could be repaid in full.

The initial conversion is for US$500,000 at the conversion price of US$0.2097 (converted from C$0.30), 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. Nebari has agreed to orderly resale restrictions for any sales made through the Toronto Stock Exchange, such that such sales shall not exceed 10% of the daily trading volume on the Toronto Stock Exchange unless such sale price is not less than a 5% discount to the closing price per Common Share on the previous trading day, provided that, within any 120-day period, the cumulative discount of the sale price as it relates to the closing price on the day prior to the Lender’s first sale in such 120 day period shall not exceed 25%.

About the University of Arizona Eller College of Management

Home to 8,100 undergraduate and 1,300 graduate students, the University of Arizona Eller College of Management is a comprehensive business school with a global reputation for innovative research, rigorous curriculum, a distinguished faculty, excellence in entrepreneurship and social responsibility. The college’s mission is to support and develop a community of scholars and learners whose knowledge, integrity and entrepreneurial spirit will transform business and society. For more, visit https://eller.arizona.edu/.

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  yielding robust economics including an NPV8% of $1.3Billion, 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.