Coppernico Metals Announces C$1.5 Million Private Placement and Provides Project Update

*VANCOUVER, BC / ACCESSWIRE / September 28, 2023 /* *Coppernico Metals Inc. ("Coppernico" or the "Company")* is pleased to announce that it is undertaking a non-brokered private placement of up to 10,000,000 units of the Company (each, a "*Unit*") at an offering price of C$0.15 per Unit (the "*Unit Price*") for target gross proceeds to the Company of C$1,500,000 (the "*Offering*").

Each Unit consists of one common share of the Company (a "*Share*") and one full common share purchase warrant of the Company (each, a "*Warrant*"). Each Warrant shall entitle the holder thereof to purchase one common share of the Company at a price of C$0.30 at any time on or before the date which is 24 months after the closing date of the Offering. The Warrant is subject to an accelerated expiry on 10 trading days' notice if the common shares trade above $0.50 for 10 consecutive trading days any time after the first 12 months of trading of the Company's common shares, if and when the Company is listed on a recognized stock exchange. The securities will be offered exempt from prospectus and registration requirements and will be targeted to accredited investors and institutions. All securities are subject to a 4-month resale restricted period in Canada.

The Company plans to use the net proceeds of the Offering for general working capital and to complete the social access agreement, as well as the drill permits required for the Company's Sombrero project.

*Sombrero Project Access Update*

The Company has recently made very positive advancements at its Sombrero project where the stakeholder community has collected the 426 signatures necessary to complete a 3-year social access agreement for the project which allows exploration work, including drilling. The key final step required is a customary notarial legal formalization process which is now underway and being managed by local advisors, and the responsible community is expected to be completed in a matter of weeks.

Ivan Bebek, President & CEO of Coppernico, commented, "The collection of the community signatures is a significant step for our company and the Sombrero project. Not only is it a key step in the advancement towards completing access, but it also demonstrates the majority support within the community, which we are thankful for, and we look forward to continuing to work with them.

We are now in the final stages of completing our social access agreement at our flagship Sombrero project which, once completed, will enable us to pursue listing on a recognized exchange and advance our exploration efforts. We are very thankful for the support and patience of our shareholders as we look forward to completing these final steps as we believe Sombrero is unique and ranks as one of the premier copper-gold exploration opportunities internationally."

ON BEHALF OF THE BOARD OF DIRECTORS

Ivan Bebek
President, CEO & Director

For further information on Coppernico, please visit www.coppernicometals.com or contact Katie Bromley, Manager of Corporate Communications, at +1 (778) 729-0600 or info@coppernicometals.com.

*About Coppernico*

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through careful project evaluation and exploration excellence in pursuit of the discovery of world-class copper-gold deposits in South America. The Company's management and technical teams have a successful track record in raising capital, discovery and monetization of exploration successes. The Company is currently focused on the Sombrero project in Peru, its flagship project, and is reviewing additional premium projects in South America.

Coppernico is currently an unlisted reporting issuer and intends to be listed on a recognized stock exchange once it qualifies. For more information, please visit www.coppernicometals.com.

*Cautionary Note*

No regulatory organization has approved the contents hereof.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events, including securing the necessary investor interest for the offering, finalizing agreements with local communities, and the goal of securing a stock exchange listing about which there cannot be any certainty. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company's continuous disclosure filings with the Canadian Securities Administrators, available at www.sedar.com.

*SOURCE:* Coppernico Metals Inc.
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