CEO.CA Chairman's Briefing

Vancouver, British Columbia--(Newsfile Corp. - February 28, 2024) - CopperEx Resources Corp. (TSXV: CUEX) (the "Company" or "CopperEx") provides results from the recently completed surface trenching (and rock chip sampling) program centered on the Sorpresa Trend within the Franja del Oro gold target which now consists of at least two parallel gold trends (Agua de la Piedra "ADLP" and Sorpresa) which is defined by approximately 15 kilometers of discontinuously outcropping, gold-bearing clastic sedimentary rocks located in the northwest portion of the 23 by 13-kilometer (20,800 hectare) Exploradora Norte Project located in Northern Chile (Figure 1).

Highlights:

Table 1: Significant Trench Intercepts

• CopperEx's Trenching program defined gold and arsenic anomalism over 4.9 kilometers in the Sorpresa Trend which is part of the Companies broader Franja del Oro gold target.

• Gold mineralization in the Sorpresa Trend is oxidized and exposed at surface and has not previously been drilled.

• The Sorpresa Trend will be tested by 3 holes drilled as part of an upcoming drill campaign focused on the Franja del Oro gold target.

Dave Prins, President & CEO of CopperEx stated, "The results from the surface trenching along the Sorpresa Trend significantly increase the Franja del Oro target potential to host a large bulk tonnage oxidized gold resource. This work has established that the Franja del Oro target contains multiple north-south trending parallel zones of gold mineralization with inadequately tested depth potential. We are scheduled to commence drilling this extremely compelling surface gold target, "Franja de Oro", in the very near future."

2023/2024 Trenching Program

A total of 463 surface rock geochemical samples were collected from 12 trenches and outboard surface rock sampling along the Sorpresa Trend (Figure 2; Tables 1-4). The objective of the trenching campaign was to test the gold grade and continuity of the Sorpresa Trend and to delineate the extent of gold and arsenic geochemical anomalism.

The Sorpresa Trend trenching campaign tested the potential of mid Jurassic fossiliferous limestones, calcareous sandstones, and siltstones and associated stocks and dikes (dacite, diorite and quartz diorite) to host bulk tonnage oxide gold mineralization. The sedimentary rocks at Sorpresa are folded into a series of anticlinal and synclinal geometries that have north-south trending axes. Gold mineralization is associated with advanced argillic alteration, iron oxides including jarosite and goethite, black and white calcite stockwork veinlets (distal) and quartz and barite veinlets (proximal) and locally vuggy silica.

Trench sampling and surface rock sample results at Sorpresa returned anomalous gold and arsenic geochemistry over a total distance of 4.9 kilometers and identified significant mineralized intercepts in trenches ST-01-E, ST-01-W, ST-03 and ST-04 (Figures 2-4; Tables 1-2). The variability in gold grades across the trenches suggests that the zone may be offset vertically and laterally across the trend. This apparent offset may explain the variability in gold and arsenic values (north-south) because of the juxtaposition of different erosional levels of the system (Figure 2)

Previous Drilling and Trenching at Franja del Oro (ADLP and Sorpresa Trends)

Historic drilling in this area by Aur Resources / Arizona Star returned the following results ⁽¹⁾:

• AP-01: 65m @ 1.59gpt (from surface)

• AP-02: 60m @ 2.02gpt (starting at 59m)

• AP-10: 24m @ 1.22gpt (starting at 94m)

The historical drill results are from the adjacent north-south trending ADLP Zone located approximately 1,300 meters west of the Sorpresa Trend. These results demonstrate that surface gold mineralization exposed at surface within at Franja del Oro (e.g., ADLP and Sorpresa) has the potential for significant depth continuity with robust grades.

In addition, CopperEx conducted trenching and sampling in 2023 at the northern extent of the Sorpresa Trend and obtained:

• 43.4m @ 0.98gpt Au including 22.0 meters @ 1.40 g/t Au and 12.0 meters @ 1.72 g/t Au^3,4

Figure 1: Exploradora Norte - Location Map.

Note: The deposits and projects shown outside of the CopperEx land position provide geologic context for the CopperEx's Property, but this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/199586_c52310e1f42d4b78_002full.jpg

Figure 2: Exploradora Norte - Sorpresa Trend, Franja del Oro Target.

Note: The deposits and projects shown outside of the CopperEx land position provide geologic context for the CopperEx's Property, but this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/199586_c52310e1f42d4b78_003full.jpg

Figure 3: Au Creek Trench Results and Cross Section¹.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/199586_c52310e1f42d4b78_004full.jpg

Figure 4: Trench ST-03 Results and Cross Section.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/199586_c52310e1f42d4b78_005full.jpg

Figure 5: Trench ST-04 Results and Cross Section.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10257/199586_c52310e1f42d4b78_006full.jpg

Table 2: Trench Intercepts.

Table 3: 2.5 Meter Composite Rock Samples Collected Outboard of Trenches.

QA/QC Methods and Procedures.

All rock samples have been sent to AAA CHILE Ltd. ("AAA") in Santiago Chile, for preparation and analysis. AAA meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Trench samples were collected on 2.5 meter centers, and sample mid-points were marked with metal tags (including sample identification) and assigned a GPS location. Samples were analyzed using AAA's Fire Assay Fusion method (Au-AA24) with an AA finish for gold and by a 48-element four acid digest ICP-AES analysis (MS61) with additional analysis for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu-OG62). Results are be reported in parts per million (ppm) and converted to percent (%), or grams per tonne (g/t) where applicable. In addition to AAA Laboratory quality assurance- quality control (QA/QC) protocols, CopperEx implements an internal QA/QC program that includes inserting fine and coarse blank samples (3.3%), inserting OREAS series standards (total 2.3%, including of OREAS 153, OREAS 501b, OREAS 523, OREAS 606, OREAS 607, OREAS 608 and OREAS 620) and duplicate samples in the field and laboratory (2.0%), obtaining a total of 7.7% laboratory control.

All scientific and technical information in this news release has been approved by Daniel MacNeil, PGeo, Technical Advisor to the Company. Mr. MacNeil is a qualified person for the purposes of NI 43-101.

Some of the drilling and trench results disclosed in this news release relates to historical results on the Exploradora Norte Property. CopperEx has not undertaken any independent investigation of the historic sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. CopperEx considers these historical drill results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.

Additional information about CopperEx and its Projects can be found on the Company's website at copperexcorp.com, and at www.sedar.com, or email info@copperexcorp.com.

On behalf of the Board of Directors

CopperEx Resources Corp.

Dave Prins
President & CEO

For further information contact:
info@copperexcorp.com
+1 (604) 646-4527

Table 4: Trench Collar and Survey Information.

About CopperEx Resources Corp.

CopperEx is a copper and gold focused exploration company with three porphyry and porphyry related gold and copper projects located in Chile and Peru in established mineral belts near producing mines. The Company's Flagship Property, Exploradora Norte, located in Northern Chile, has multiple high quality drill ready targets. At Exploradora Norte, CopperEx has the option to earn 65% and a Preferred Option for an additional 35% with no attached royalty.

In addition to the Exploradora Norte property, CopperEx owns 100% of its Kio Buggy (Northern Chile) and La Rica (Apurimac province Peru) properties, also with no attached royalties. The CopperEx Exploradora Norte property is immediately adjacent to the north and east of the Codelco Exploradora property which hosts a resource estimated by Codelco to contain 190-280 Mt @ 0.40% Cu.⁽²⁾

The Company's priority is to drill the advanced exploration Franja Del Oro Target at Exploradora Norte and includes the Sorpresa and Agua de la Piedra (ADLP) sub sectors, and the surrounding favorable host rocks which remain significantly underexplored.

Exploradora Norte Advanced Exploration Targets.

• The Franja del Oro target contains sediment hosted gold mineralization with associated replacement textures and alteration consistent with epithermal gold deposits that form distal to a porphyry copper-gold system (Figure 2). Gold mineralization at Franja del Oro is widespread, with values up to 3.97 ppm Au at ADLP^3,4 (Trench AT-04; Figure 3) and values up to 4.57 ppm Au at Sorpresa^3,4 (Au-Creek-Trench; Figure 4). The Franja del Oro target hosts multiple parallel, north trending stratigraphically and structurally controlled mineralized zones (Figure 2). CopperEx has conducted extensive exploration along 4-kilometer-long north-south trending segments of the high priority Sorpresa and Agua de la Piedra ("ADLP") zones to assess surface gold grades and continuity (along strike) and to define individual drill targets (Figures 2-4). CopperEx has identified gold mineralization over approximately 7 kilometers on the ADLP system (surface rock geochemical results). CopperEx leveraged the correlation between gold and arsenic to expand the geochemical footprint of the Franja del Oro target using Portable XRF technology to approximately 15 kilometers (and remains open).

• Peuco - Porphyry Copper Gold target: Geochemical and geophysical anomalies spatially associated with tourmaline breccia bodies with values up to 1.69 ppm Au^3,4 (Figure 2). Copper rock surface samples range from laboratory below detection to 1,021 ppm^3,4. Breccias consist of potassically altered porphyry clasts in quartz-tourmaline matrix associated with peripheral polymetallic veins and skarn alteration.

• Florencia Copper Gold target - Centered on a NW-SE trending structural corridor extending to the Exploradora porphyry Cu deposit (Codelco) ~5 km to the NW. IP Geophysical features (resistivity and chargeability) suggest the potential for porphyry style copper-gold mineralization at depth. Epithermal style quartz veins and breccia, alteration, and geochemical anomalism exist at surface (up to 1.02 ppm Au & 1,320 ppm Cu^3,4; see Figure 2).

Strategic Alliances.

CopperEx is a member of Discovery Group based in Vancouver, Canada. For more information please visit: discoverygroup.ca.

Notes:

(1) Source: Arizona Star press release dated June 12, 2001, on www.sedar.com.
(2) Source: www.codelco.com/prontus_codelco/site/docs/20220808/20220808110240/fexmin_brochure.pdf
(3) Source:
https://www.sedarplus.ca/csaparty/records/document.html?id=1069427aeb203d76b95101c88e7bc8bde983e42c05518680d0d90c1c90b04209
(4) Note: Gold values at ADLP range from 0.01 (detection limit) to 3.97 ppm, gold values at Sorpresa range from 0.01 (detection limit) to 4.57 ppm, gold values at Peuco range from 0.01 (detection limit) to 1.69 ppm and gold ranges from 0.01 (detection limit) to 1.02 ppm at Florencia Copper Gold. Copper values range from 0.5 ppm copper (detection limit) to 1,021 ppm at Peuco and 0.5 ppm (detection limit) to 1,320 ppm at Florencia Copper Gold.

Cautionary Note.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information.

Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks, and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors, and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199586