Gunnison Copper

Gunnison Copper Corp. is an American copper producer focused on developing a multi-asset copper production hub in Arizona's prolific copper porphyry belt. Following a strategic transformation from Excelsior Mining's unsuccessful in-situ leaching approach, the company has emerged as America's newest copper producer with its Johnson Camp Mine commencing operations in August 2025. The company's flagship Gunnison Copper Project features a robust preliminary economic assessment with a $1.26 billion after-tax NPV (8% discount) and 20.9% IRR, positioning it to supply up to 8% of U.S. copper production upon development.

The company benefits from exceptional government support, including $13.9 million in Section 48C tax credits from the U.S. Department of Energy and strategic backing through Executive Order 14241, which declared a national emergency on critical mineral supply. With a mineral resource base of 832 million tons at 0.31% copper in the measured and indicated category, plus 76 million tons at 0.52% copper inferred at its Strong & Harris satellite deposit, Gunnison has assembled a generational asset portfolio.

The company is listed on the Toronto Stock Exchange (TSX: GCU), OTCQB (GCUMF), and Frankfurt Stock Exchange (FSE: 3XS), backed by a management team with deep expertise in copper development and operations.

Gunnison Copper offers a compelling investment opportunity as America's newest domestic copper producer with significant near-term catalysts. The Johnson Camp Mine produces 25 million pounds of copper cathode annually using both conventional and Nuton LLC's innovative leaching technology, with first sales achieved in September 2025. The feasibility study highlights a pre-tax NPV of $1.26 billion and an IRR of 20.9%, underpinned by robust project economics at copper prices of $4.00/lb. With an estimated sustaining cash cost of $1.94 per pound of copper, Gunnison stands out for its cost efficiency in the first quartile of global copper producers.

With an estimated all-in sustaining cost advantage and significant government backing, Gunnison is strategically positioned in Arizona, a top-tier mining jurisdiction with state-level permitting (no federal nexus) and strong governmental support for critical mineral development. The company's commitment to environmental stewardship, including its partnership with the University of Arizona on environmental studies and active community engagement, positions it as a responsible domestic copper operator. As global demand for copper continues to rise amid electrification and defense priorities, Gunnison Copper is poised to deliver long-term value to its investors, offering significant leverage to rising commodity prices and a de-risked path to scaled production.

Gunnison Copper Corp. is led by a seasoned management team with deep expertise across mining, project development, and corporate finance. At the helm is CEO Stephen Twyerould, Ph.D., a geologist and mining executive bringing over 35 years of resource sector experience and a proven track record in advancing mining projects from exploration to production across numerous early-to-late stage companies worldwide. The company's financial strategy is guided by CFO Craig Hallworth, CPA, CFA, who contributes 19 years of mining and resource sector financial management expertise, including involvement in financing and constructing three mines and former CFO of Hudbay's Arizona Business Unit.

Technical operations are overseen by COO Robert Winton, P.Eng., whose 25-year career in North American mining operations ensures effective project execution from engineering through production. Business development initiatives are led by Senior VP Roland Goodgame, Ph.D., who brings over 35 years of mining industry experience across numerous large companies worldwide. This executive team is complemented by a Board of Directors comprising industry veterans including Fred DuVal (former Arizona gubernatorial nominee and Chairman of Arizona Board of Regents), Jason Howe (co-founder of Capstone Mining Corp.), and Joseph Gallucci, MBA, ICD.D (Managing Director and Head of Mining Investment Banking at Ventum Financial), positioning Gunnison strongly for achieving its strategic objectives while maintaining strong stakeholder engagement.

Gunnison Copper Corp. is executing a comprehensive growth plan focused on advancing its multi-asset portfolio to scaled production while emphasizing operational excellence and sustainability. The company is moving through critical engineering and permitting stages for its flagship Gunnison Project, targeting an updated PEA in Q1 2026, pre-feasibility studies by 2027, and first production by 2030. This development timeline supports a significant 18-year mine life, establishing Gunnison as one of America's major long-term copper operations.

Environmental stewardship and innovation are central to Gunnison's strategy, with the company pursuing advanced mineralized material sorting technology that achieves 75% acid reduction while increasing head grades by 80%. Through active engagement with local communities and government agencies, Gunnison ensures its development plans meet rigorous environmental standards while leveraging its limestone by-product potential for additional revenue streams. While the project already contains substantial mineral reserves, the company continues aggressive exploration at its Strong & Harris satellite deposit to expand its resource base and extend production potential. A key advantage in Gunnison's growth plan is its strategic partnership with Nuton LLC, a Rio Tinto venture providing $167 million in non-dilutive funding, significantly reducing capital requirements and improving the project's financial outlook.

As of December 2025, Gunnison Copper Corp. is well-positioned financially, with a strong asset base and a strategic focus on advancing its multi-asset copper portfolio. The company benefits from significant non-dilutive funding from Nuton LLC, a Rio Tinto venture that has provided over $167 million to fund Johnson Camp Mine construction and ramp-up activities through October 31, 2025. The initial capital cost for the Gunnison Project is estimated at $1.08 billion based on the preliminary economic assessment, with the company pursuing multiple funding approaches to minimize shareholder dilution.

The Gunnison Copper Project is projected to deliver robust financial returns with an after-tax net present value of $1.26 billion at an 8% discount rate and an internal rate of return of 20.9%. On a corporate level, Gunnison maintains a market capitalization of C$158.3 million (US$113.1 million) as of December 4, 2025, with C$31.9 million (US$22.8 million) in cash and only C$14.9 million in convertible debt as of September 30, 2025. With 395.7 million shares outstanding and 540.9 million fully diluted, the company has a strong ownership base including Greenstone Resources (34%), institutional investors (36%), and management (13%). With a favorable economic outlook, low sustaining cash costs of $1.94 per pound, and strong government support including $13.9 million in DOE tax credits, Gunnison is well-positioned to advance its projects toward full-scale production, creating long-term value for investors.

Gunnison Copper Corp. has successfully transformed from a failed in-situ leaching operator into America's newest copper producer, with its Johnson Camp Mine actively producing and its flagship Gunnison Project positioned as one of the most significant copper development opportunities in the United States. With an 18-year mine life, substantial copper reserves, and a commitment to responsible mining practices, Gunnison offers a unique investment opportunity in a top-tier jurisdiction with unprecedented government support.

The company's strong management team, capital-efficient strategy leveraging existing infrastructure and strategic partnerships, and dedication to environmental stewardship position it for long-term success. As Gunnison advances through key project milestones—ranging from updated PEA results and strategic transactions to pre-feasibility studies and permit amendments—the company is well-positioned to deliver robust returns, benefiting from favorable commodity prices and growing domestic demand for critical minerals. For investors seeking exposure to a scaled, de-risked copper producer with significant growth potential, Gunnison Copper Corp. presents an attractive opportunity at a compelling valuation discount to peers.