Copper Lake Resources Ltd. announced the filing of the technical report for the updated Mineral Resource Estimate prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), on its Norton Lake Nickel-Copper-Cobalt-Palladium-Platinum Deposit (the "Deposit"), situated 50 km northeast of Fort Hope and approximately 413 km northeast of the port City of Thunder Bay, northwestern Ontario. The Report is titled, "National Instrument 43-101 Mineral Resource Estimate and Technical Report for the Norton Lake Ni-Cu-Co-Pd-Pt Property", with an effective date of August 12, 2023, and prepared for Copper Lake by Caracle Creek Chile SpA and Atticus Geoscience Consulting S.A.C. Highlights of the current Mineral Resource Estimate are as follows: Open pit and underground Measured + Indicated Resources of 1,795,000 tonnes at an average grade of 0.72% NI, 0.69% Cu, 339 ppm Co, 0.52 g/t Pd, 0.17 g/t Pt and containing 28.3Mlbs of nickel and 27.3Mlbs of copper. Open pit and underground Measured Resources of 861,000 tonnes at an averagegrade of 0.66% Ni, 0.62% Cu, 326 ppm Co, 0.46 g/t Pd,0.17 g/t Pt & containing 12.5Mlbs of nickel and 11.8Mlbs of copper.

A total of 121 specific gravity measurements were used, and as a reference, the average estimated density value within the mineralised domain is 3.35 g/cm3 (t/m3). The Norton Lake Mineral Resource Estimate and Technical report was prepared by Simon Mortimer, FAIG of Atticus Geoscience ConsultingS.A.C., Scott Jobin-Bevans, P.Geo, PhD, PMP of Caracle Creek Chile SpA, and John Siriunas, P.Eng., M.A.Sc. of Caracle Creek International Consulting Inc. who are all independent Qualified Persons, for the purposes of National Instrument 43-101, standards of Disclosure for Mineral Projects.

Dr. Jobin-Bevans., Mr. Mortimer, and Mr. Siriunas have reviewed and approved the technical content of this news release. Drill holes U-4 and U-14 returned drill intercepts of 0.80% Ni, 1.07% Cu and 3.2 g/t Pt + Pd over 7.0 metres and 0.80% Ni, 0.30% Cu and 1.10 g/t Pt + PD over 5.0 metres, respectively. The South zone appears to underlie the Norton Lake deposit and has only been tested by the 2 above drill holes, both at very shallow depth.

Additional drilling is clearly warranted to expand this new zone of mineralization. Borehole and large-loop EM data generated from an earlier exploration program testing the Norton Lake deposit and immediate locale, have been retrieved by Copper Lake. Interpretation and modelling of such data will be completed to assist in directing future drilling programs, specifically to expand on the limits of the known Norton Lake deposit and to provide targets prospective for satellite or nearby magmatic Ni-Cu-Co-PGE deposits.

The scientific and technical information in this press release has been reviewed and approved by Donald Hoy, M.Sc., P.Geo. and Copper Lake's Vice President of Exploration, the Qualified Person as defined in National Instrument 43-101. However, the Company expressly disclaims any intention or obligation to update or revise any information in this news release.