Mr. Vince Sorace reports

KUTCHO COPPER ANNOUNCES RESULTS OF FEASIBILITY STUDY

Kutcho Copper Corp. has released the results of the 2021 feasibility study for the development of the 100-per-cent-owned Kutcho copper and zinc project in Northern British Columbia.

Highlights:

• Robust project economics:
  • Base-case metal prices of $3.50 per pound copper and $1.15 per pound zinc:
    • Pretax net present value (discounted at 7 per cent) of $737-million and internal rate of return of 31 per cent;
    • After-tax NPV (discounted at 7 per cent) of $461-million and IRR of 25 per cent;
  • Spot metal prices of $4.50 per pound copper and $1.57 per pound zinc:
    • Pretax NPV (discounted at 7 per cent) of $1,467-million and IRR of 51 per cent;
    • After-tax NPV (discounted at 7 per cent) of $931-million and IRR of 41 per cent;
• Low-cost production:
  • Cash costs of $1.11 (U.S.) per pound of copper equivalent;
  • All-in sustaining costs of $1.80 (U.S.) per pound of copper equivalent;
  • Initial capital cost of $483-million;
• 11-year open-pit and underground mine life:
  • Metal production of 533 million pounds copper, 841 million pounds zinc, 10.6 million ounces silver and 129,700 ounces gold;
• High-grade mineral resource:
  • 22.8 million tonnes grading 2.26 per cent copper equivalent containing 1.1 billion pounds copper equivalent (764 million pounds copper and 1,096 million pounds zinc);
  • An additional 12.9 million tonnes grading 1.62 per cent copper equivalent containing 460 million pounds copper equivalent in the inferred category (312 million pounds copper and 449 million pounds zinc);
• Stable mining jurisdiction situated in Northern British Columbia, Canada:
  • One of the safest global mining jurisdictions, located in the traditional territories of the Tahltan Nation and Kaska Dena Nation.

Vince Sorace, president and chief executive officer of Kutcho Copper, commented: "The feasibility study represents a major milestone for Kutcho Copper as we continue to advance the high-grade Kutcho copper-zinc project towards a development decision. The significant redesign and engineering of the project delivers a mine plan that is a predominantly open-pit mining operation, with the concurrent development of two underground mines. The mine plan has resulted in a technically robust and capital-efficient project with a minimized footprint. The results of the feasibility study highlight the attractive economics of the Kutcho project, which are resilient at lower metal prices, very attractive at base-case prices and exhibit significant leverage to rising prices, as reflected in spot metal prices with a $931-million after-tax NPV (7 per cent) and a 41-per-cent IRR. We believe that the results of the feasibility study mean that Kutcho Copper is now one of the most undervalued copper investment opportunities in North America."

Qualified persons

Robert Sim, PGeo, a qualified person as defined by National Instrument 43-101, is responsible for the estimate of mineral resources presented in this news release and has reviewed, verified and approved the contents of this news release as they relate to the mineral resource estimate, including the sampling, analytical and test data underlying the mineral resource estimate. Mr. Sim is a consultant to the company, independent from Kutcho Copper, and confirms there were no limitations from the company in verifying the drilling and sample data with site visit observations and monitoring of the quality assurance/quality control program. Andrew Sharp, PEng (CSA Global), Paul Heaney (CSA Global), Shervin Teymouri, PEng (Mineit), Andre de Ruijter, PEng (Mineit), James Garner, PEng (Tahltan Allnorth), Kelly McCleod, PEng (Tahltan Allnorth), Brent Hilscher, PEng (ABH Engineering), are qualified persons as defined by NI 43-101. They were involved in the preparation of the feasibility study and they have reviewed, verified and approved the technical and scientific contents of this news release. The aforementioned are consultants to the company and independent from Kutcho Copper. Garth Kirkham, PGeo, technical adviser for Kutcho Copper, who serves as a qualified person under the definition of NI 43-101, has reviewed and approved the technical and scientific information in this news release.

Technical disclosure

Data verification programs have included review of QA/QC data, resampling and sample analysis programs, and database verification. Validation checks were performed on data and comprise checks on surveys, collar co-ordinates and assay data. In the opinion of CSA, sufficient verification checks were undertaken on the database to provide confidence that the database is virtually error-free and appropriate to support mineral resource and reserve estimation. For readers to fully understand the information in this news release, they should read the technical report (to be available on SEDAR within 45 days of Nov. 8, 2021) in its entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release that qualifies the technical information contained in the technical report. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in this news release is subject to the assumptions and qualifications contained in the technical report.

About Kutcho Copper Corp.

Kutcho Copper is a Canadian resource development company focused on expanding and developing the Kutcho high-grade copper-zinc project in Northern British Columbia. Committed to social responsibility and the highest environmental standards, the company intends to progress the Kutcho project through the feasibility study and permitting to a positive construction decision.

We seek Safe Harbor.