Northisle Copper and Gold Reports 36% Increase in Indicated Resources at North Island Project

• Indicated Resources grew by 330 million tonnes (36%) to 1.2 billion tonnes, adding 685 million pounds of copper and 1.8 million ounces of gold in contained metal.
• Contained copper equivalent metal in Indicated Resources increased 60%, now totalling 10.1 billion pounds, equal to 16.2 million ounces of gold equivalent.
• West Goodspeed contributed 113.1 million tonnes of new Indicated Resources, containing 873 million pounds of copper equivalent metal.
• Northwest Expo converted material from the Inferred to the Indicated category, lifting contained gold by 81% and contained copper by 84%, with the deposit remaining open to the northwest.
• The estimate, effective July 31, 2026, will support the North Island Project pre-feasibility study, targeted for the first quarter of 2027.

Northisle Copper and Gold Inc. (TSX-V: NCX, OTCQX: NTCPF) is a Vancouver-based company advancing its 100% owned North Island Project on Vancouver Island, British Columbia. The project, held through the wholly owned subsidiary North Island Mining Corp., covers a land package of more than 34,000 hectares stretching roughly 50 kilometres northwest from the former Island Copper Mine, previously operated by BHP Billiton. Since 2021, the company has discovered two new deposits and expanded its resource base, working with the Quatsino, Kwakiutl, and Tlatlasikwala First Nations, in whose territories the project is located, as it advances the project towards development.

36% Increase in Indicated Resource Tonnage to 1.2 Billion Tonnes With 60% Growth in Contained Copper Equivalent Metal

The 2026 Resource Estimate integrates four deposits at the North Island Project. Indicated Resources increased by 330 million tonnes, or 36%, to reach 1.2 billion tonnes, adding 685 million pounds of copper and 1.8 million ounces of gold in contained metal.

At an average grade of 0.14% copper and 0.22 grammes per tonne gold, with additional molybdenum and rhenium content, the Indicated Resource contains 10.1 billion pounds of copper equivalent metal, or 16.2 million ounces of gold equivalent. Copper equivalent expresses the combined value of multiple metals in a deposit as a single copper-based figure, allowing for easier comparison of overall resource scale. A further 260 million tonnes are classified as Inferred Resources, containing 1.5 billion pounds of copper equivalent metal, or 2.6 million ounces of gold equivalent.

Contained copper equivalent metal in Indicated Resources increased 60%, a larger increase than the growth in tonnage. 

Chairman Alex Davidson said:

"This integrated resource update represents another important milestone for Northisle and is a critical step towards the completion of the North Island Project PFS. With 10.1 billion pounds of copper equivalent or 16.2 million ounces of gold equivalent contained in Indicated Resources, the 2026 Resource Estimate is finally beginning to tell the story of the district-scale potential of the North Island Project."

West Goodspeed Addition of 113.1 Million Indicated Tonnes and Northwest Expo Conversion Driving Resource Growth Across Four Integrated Deposits

West Goodspeed exceeded the company's resource objectives, adding 113.1 million tonnes of Indicated Resources, containing 873 million pounds of copper equivalent metal, or 1.2 million ounces of gold equivalent.

At Northwest Expo, drilling converted material from the Inferred to the Indicated category, increasing Indicated tonnage at that deposit by 133%. Contained gold in Indicated Resources rose 81% to 1.7 million ounces, and contained copper rose 84% to 198 million pounds. The deposit remains open along strike to the northwest.

Red Dog recorded a 30% increase in contained copper equivalent metal within Indicated Resources. The company plans additional drilling in 2026 to investigate a potential connection between the Red Dog and West Goodspeed deposits. The update also increased exposure to critical minerals, with contained molybdenum up 46% and contained rhenium up 43%. 

President and CEO Sam Lee said:

"Over the past 18 months, we have either achieved or exceeded each of the goals we set in respect to resource growth and conversion. ... These results, in addition to improved commodity prices, have driven meaningful resource growth and provide a solid foundation for the North Island Project PFS, which remains on target for completion in Q1 2027."

Integrated 2026 Resource Estimate Providing Foundation for Q1 2027 Pre-Feasibility Study

The 2026 Resource Estimate has an effective date of July 31, 2026, and was prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services, an independent qualified person under NI 43-101. It replaces the company's 2025 Preliminary Economic Assessment, which is no longer considered current. A supporting technical report is expected to be filed within 45 days.

Within the overall estimate, the Northwest Corridor deposits (Northwest Expo, Red Dog, and West Goodspeed) together with a shallow, higher-grade portion of the Hushamu deposit contain 405 million tonnes of Indicated Resources grading 0.50% copper equivalent, containing 4.5 billion pounds of copper equivalent metal, or 6.0 million ounces of gold equivalent. This higher-grade material is expected to be included in the first phase of mining at Hushamu.

The resource estimate uses a cut-off value of $11.00 per tonne, the minimum estimated value per tonne of rock required for it to be included in the estimate. This cut-off reflects preliminary processing and administrative cost assumptions, which may be adjusted during the pre-feasibility study, results for which remain targeted for completion in the first quarter of 2027.

Milestones and Next Steps

Northisle has completed a C$115 million financing, drilling programmes at Northwest Expo and Red Dog, early engagement on mine waste storage planning, and the integrated resource update. Upcoming steps include drilling at regional exploration targets in the third quarter of 2026, filing of an Initial Project Description, and commencement of a BC Hydro System Impact Study in the second half of the year, along with further drilling results from the Northwest Corridor and regional targets. Results from the North Island Project pre-feasibility study are targeted for the first quarter of 2027.

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