Copper Lake Resources Ltd. announced that it has commenced the winter diamond drilling program on its copper-zinc-silver-gold volcanogenic massive sulphide (VMS) property, situated in northwestern Ontario. The first of the drill holes will test the Deep IP discovery, previously identified by diamond drilling and supplemented by bore-hole electromagnetic (BHEM) and large-loop electromagnetic surveys (LLEM), completed in 2022. Drilling by Copper Lake in 2022 yielded high-grade assays at the Deep IP discovery including: 8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au (13.59% CuEq2) over 2.11 metres; 5.81% Cu, 171.20 g/t Ag & 0.02 g/t Au (10.45% CuEq2) over 1.95 metres; and 2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au (7.00% CuEq2) over 6.00 metres, including 2.26% Cu, 2.66% Zn, 1,580 g/t Ag (55.7 oz/t Ag3) & 1.28 g/t Au (18.12% CuEq2) over 1.21 metres.

Subsequent BHEM and LLEM surveys completed by the Company, delineated a conductive centre consisting of several very strong conductors, situated below and along stratigraphic trend from the high-grade mineralization. The conductive center, approximately 500 metres by 300 metres in extent, is situated below the high-grade mineralization documented above. The size, strength and location of the conductive centre in relation to the high-grade mineralization is very promising and suggests that additional high-grade mineralization may be present in the area surrounding the Deep IP discovery.

A minimum of five drill holes, each with a minimum length of 600 metres, will test the conductive centre, in efforts to expand on the limits of the high-grade mineralization. Results will be released as they become available. Concurrent with the diamond drilling, additional LLEM surveying will be completed by the Company in the locale of the conductive centre, to more firmly delineate the trend, dimensions and strength of it, in efforts to assist in drill targeting.

Additional LLEM surveying will also help further characterize a number of other interesting build-up conductors, yielded by an earlier LLEM survey completed by Copper Lake in the summer of 2022. Such build-up conductors are situated apart and away from the conductive centre, but within the favorable stratigraphic trend of the mineralization and alteration. Abitibi Geophysics, the contractor completing the LLEM surveys, is also equipped with BHEM survey equipment and each of the holes testing the conductive centre will also be probed by BHEM surveys, providing directional information to mineralization trends and orientation.

Finally, line-cutting and orientation LLEM surveying will be completed on two other mineral occurrences on the Marshall Lake property known as the Teck Hill-Gazooma and Gazooma North-RM-Lease target areas. The purpose of the surveys is to delineate deeper conductors below shallow but significant drill intercepts including 2.05% Cu, 33 g/t Ag and 0.31 g/t Au over 26.9 metres as well as 1.38% Cu, 54 g/t Ag and 0.10 g/t Au over 43.0 metres. Historic drilling deeper than 150 metres below surface is rare on these zones, as well as elsewhere on the Marshall Lake property.