Copper Lake Resources Ltd. announces non-brokered private placement of up to 70,000,000 non-flow-through units at a price of CAD 0.025 per non-flow-through unit for gross proceeds of CAD 1,750,000; and up to 25,000,000 flow-through units at a price of CAD 0.03 per flow-through unit for gross proceeds of CAD 750,000; for aggregate gross proceeds of CAD 2,500,000 on June 13, 2024. Each non-flow-through unit is comprised of one common share and one common share purchase warrant. Each flow-through unit is comprised of one flow-through common share and one-half of one common share purchase warrant.

Each warrant entitles the holder to acquire one additional share at an exercise price of CAD 0.06 per common share. The warrants issued as part of the non-flow-through units will be exercisable for a period of 24 months from the closing date. The warrants issued as part of the flow-through units will be exercisable for a period of 24 months from the closing date.

The closing of the proposed private placement is subject to obtaining all required approvals, including the approval of the TSX-V and any other regulatory approval. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws. The company may pay a finder?s fee consisting of cash and finders?

warrants to certain qualified individuals. Each finders? warrant would be issued upon the same terms as the NFT Unit Warrants issued as part of the offering.

The financing is expected to close on or about July 4, 2024.