Copper Lake launches non-brokered private placement

Toronto, Ontario--(Newsfile Corp. - September 3, 2026) - Copper Lake Resources Ltd. (TSXV: CPL) (FSE: W0I0) (OTC Pink: WTCZF) ("Copper Lake" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement financing for total gross proceeds of up to $5,000,000. The financing will consist of up to 33,333,333 Units ("Units") at a price of $0.15 per Unit. Each Unit is comprised of one common share in the capital of Copper Lake (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional share at an exercise price of $0.20 per Common Share. Warrants issued as part of the Units will be exercisable for a period of 24 months from the closing date.

The Warrants shall be subject to an accelerated expiry date clause whereby. At any time following the expiry of the four-months and one day hold period, should the weighted average closing price of the Common Shares on the TSX Venture Exchange (the "TSX-V") be more than $0.40 for a period of 15 consecutive trading days, the Company shall be entitled to accelerate the expiry date of the warrants to a date which is 30 days following the date on which the Company announces the accelerated expiry of the Warrants by press release.

Closing of the proposed private placement is subject to obtaining all required approvals, including the approval of the TSX-V and any other regulatory approval. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws. The securities have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

The Company may pay a finder's fee consisting of cash and finders' warrants to certain qualified individuals. Each finders' warrant would be issued upon the same terms as the Warrants issued as part of the offering.

The financing is expected to close on or about September 29, 2026. The net proceeds of the financing will be used for exploration at the Company's Marshall Lake project and for general working capital purposes. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is accessible by all-season road from the Trans-Canada Highway and just 22 km north of the main CNR rail line. Copper Lake has a 79.45% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.