Canadian Copper closes $44M project financing with OR Royalties

Toronto, Ontario--(Newsfile Corp. - July 16, 2026) - Canadian Copper Inc. (CSE: CCI) ("Canadian Copper" or the "Company") announces that it has closed its precious metals stream and equity subscription of up to $43,830,000 ("Project Financing") with OR Royalties Inc. ("OR Royalties"), a global top-5 precious metal streaming company, to advance development of its 100%-owned Murray Brook Project and Caribou Process Plant ("Combined Strategy" or "Bathurst Complex"). The Project Financing represents a significant de-risking milestone as the Company aims to become a near-term critical mineral producer in Bathurst, New Brunswick, Canada. A total of $12,500,000 was received from OR Royalties on July 16 th , 2026.

Amounts presented are in Canadian dollars assuming a CAD Exchange Rate (USD:CAD) of 1.40. Simon Quick, CEO of Canadian Copper stated, "July is off to a productive start. The Company received a positive court vesting order regarding our Caribou Process Plant acquisition, we registered the EIA with the New Brunswick Department of Environment and Local Government just three days ago, a first for the Province since 2013.

Closing our precious metal stream financing and equity subscription with OR Royalties was our next milestone as we simultaneously advance our Feasibility Study in parallel with starting the provincial permitting approval process. We look forward to seeing drill core this month as we increase our exploration efforts in close proximity to the Murray Brook deposit." OR Royalties Financing Impact on Company Balance Sheet As of April 30 th , 2026, the Company had available cash of $17.3 million. The OR Royalties investment results in an additional cash inflow of $12.5 million to support Murray Brook permitting, engineering, and development activities.

We anticipate an additional $31.5 million to be available to draw from the OR Royalties Project Financing package to fund the construction of the Bathurst Complex. This capital plus further liquidity available from the Ocean Partners UK Limited electable $48 million in project debt announced April 14 th , 2026, positions the Company well for project development. The Company also currently has 36.8 million "in-the-money" warrants priced at $0.25 that, if fully exercised, would result in proceeds to Canadian Copper of $9.1 million.

These warrants are subject to a forced acceleration clause at the Company's election and expire in November 2026. For illustration purposes only, the Company has an approximate cash balance of $32.6M [1] net of the Caribou acquisition cost as of today if all warrants were exercised. OR Royalties Project Financing Structure Pursuant to the terms of the precious metals purchase agreement entered into between OR Royalties and the Company on April 13 th , 2026, as amended, OR Royalties will provide up to $38,350,000 in exchange for the Company delivering 20% of the payable silver and gold from the Bathurst Complex.

OR Royalties will purchase 20% of the payable silver and gold produced by the Company at a cash purchase price equal to 20% of the spot price for silver and gold, with the remaining 80% credited against the deposit advanced by OR Royalties until the deposit is reduced to nil, after which only the 20% cash price is payable (the "OR Stream"). The OR Stream consists of: 1) A $7,020,000 upfront deposit payable upon closing (the "Upfront Deposit"). This was paid by OR Royalties on July 16 th , 2026. 2) $31,500,000, the balance of the deposit under the OR Stream, payable in quarterly installments throughout the construction period of the Bathurst Complex and subject to customary conditions precedent ("Construction Funding").