Gunnison Copper Corp. (TSX: GCU,OTC:GCUMF) (OTCQB: GCUMF) (FSE: 3XS0) (“Gunnison” or the “Company”) is pleased to announce the closing of a second and final tranche of its previously announced non-brokered private placement (the “Offering”) for aggregate gross proceeds of C$150,000.30 from the issuance of 333,334 Units (each one “Unit”) to a single institutional investor. Each Unit, issued at a price of C$0.45 per Unit, consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of C$0.65 at any time on or before October 31, 2028. The securities issued pursuant to the sale of the Units will be subject to a four-month hold period in Canada in accordance with applicable Canadian securities laws, expiring on March 1, 2026. The Company raised aggregate gross proceeds of approximately C$13.3 million in connection with the Offering. Please refer to the Company’s press release dated October 30, 2025 for additional details.
This press release does not constitute an offer to sell or the solicitation of an offer to sell the securities in the United States. The securities have not been and will not be registered under the US Securities Act or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT GUNNISON BUYER
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District (the District), with 12 known deposits within an economic radius of 5 miles, in the Southern Arizona Copper Belt.
The project’s flagship project, the Gunnison Copper Project, has a measured and indicated mineral resource containing more than 831.6 million tonnes with a total copper content of 0.31% (measured mineral resource of 191.3 million tonnes at 0.37% and indicated mineral resource of 640.2 million tonnes at 0.29%), and a preliminary economic assessment (“PEA”) providing robust economic figures including an NPV of 8% of $1.3 billion, IRR of 20.9% and payback period of 4.1 years. It is being developed as a conventional operation with open pit mining, heap leach and SX/EW refinery to produce finished copper cathodes on site with a direct rail link.
The PEA is preliminary in nature and includes inferred mineral resources that are considered geologically too speculative to apply economic considerations that would allow them to be categorized as mineral reserves. There is no assurance that the PEA’s conclusions will be realized. Mineral resources that are not mineral reserves have no demonstrated economic viability.
In addition, Gunnison’s Johnson Camp Asset, now in production, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million pounds of finished copper cathode per year.
Other significant deposits operated by Gunnison in the district that have the potential to be economic satellite feeder deposits for the Gunnison Project infrastructure include Strong and Harris, South Star and eight other deposits.
For additional information on the Gunnison Project, including the PEA and Mineral Resource Estimate, please refer to the Company’s technical report entitled “Gunnison Project NI 43-101 Technical Report Preliminary Economic Assessment” dated November 1, 2024 and available on SEDAR+ at www.sedarplus.ca.
Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of the company, is a qualified individual as defined by NI 43-101. Dr. Twyerould has reviewed and is responsible for the technical information contained in this press release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements in this press release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to the use of the net proceeds from the Offering; the intention to deploy Nuton® technology at the Johnson Camp mine and its future production; the continued funding of the Phase 2 work program by Nuton; the details and expected outcomes of the phase two work programme; future production and production capacity of the Company’s mineral projects; the results of the preliminary economic assessment of the Gunnison project; and the exploration and development of the company’s mineral projects.
In some cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “budget”, “scheduled”, “estimates”, “predicts”, “intends”, “anticipates” or “does not expect”, or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “could”, “occur” or “may be achieved,” which suggests future results or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions relating to, among other things, Nuton will continue to finance the Phase 2 work program, the availability of financing to continue as a going concern and implement the company’s operating plans, the estimation of mineral resources, the realization of resource and reserve estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labor and operating costs (including the price of acid), the availability of labor, material and acid supplies, receipt and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage and assumptions regarding currency fluctuations, environmental risks, ownership disputes or claims, and other similar matters. Although the Company believes these assumptions to be reasonable based on the information currently available, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company’s failure to obtain adequate financing to continue operations, Nuton’s failure to continue financing the Phase 2 work program, the breach of debt covenants, risks inherent in the construction and exploitation of mineral deposits, including risks related to changes in project parameters as plans continue to be redefined, including the possibility that mining operations cannot continue at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, quality or recovery rates, risks related to the ability to access infrastructure, risks related to changes in the prices of copper and other raw materials and the global supply and demand for copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions of the Company’s business, uncertainties inherent to the estimation of mineral resources, access and supply risks, risks associated with the ability to access acid deposits on commercially reasonable terms, dependence on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labor disputes, increases in capital and operating costs and the risk of delays or increased costs that may occur during the construction or mining process, regulatory risks, including the risk that permits are not issued on a timely basis or at all acquired, financing, capitalization and liquidity risks, risks related to disputes over title and interest, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking information.
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