Vancouver, B.C. - Northisle Copper and Gold Inc. (TSX-V: NCX) ('Northisle' or the 'Company') is pleased to announce the results of its previously announced surface exploration program at the North Island Project (the 'Project'). The program was a continuation of the work completed in early 2022 and covered the Pemberton Hills and Northwest Expo target areas, as well as the area between the Red Dog Deposit and the Goodspeed target plus the recently recognized Downward Dog target.

Multiple drill targets were identified at each of the survey areas which augment previous work and demonstrate attractive opportunities for further exploration during the 2023 field season and beyond. Of particular interest, the geophysical survey completed by Simcoe Geoscience in the Pemberton Hills area has identified coincident magnetic and chargeability signatures which are consistent with the existing data indicating the existence of a very large porphyry-style hydrothermal system with a more than 6km long lithocap visible at surface. Northisle has created a VRIFY deck which can be found at https://vrify.com/decks/12597-northisle-copper-and-gold-inc-pemberton-hills and provides a visual representation of the existing geological model at this highly prospective target.

Sam Lee, President and CEO of Northisle commented, 'The results from the surface geophysical program completed during the fourth quarter have provided numerous drill targets for us to pursue during 2023 and beyond, and highlights the superb prospectivity of the 50km long porphyry belt on the North Island Project. 2023 is anticipated to be an exciting and busy year for our exploration team.'

Robin Tolbert, Vice President, Exploration added, 'Coincident anomalies from surface mapping and sampling, historical geochemical surveys and recent geophysical programs provide confidence in our overall geological thesis and approach to exploring this extensive porphyry belt. I look forward to the start of the 2023 field season and the opportunity to drill test many of these exciting targets.'

Summary of Results

The fall 2022 program included approximately 55 line-kilometers of wireless ground induced polarization and magnetic surveys covering the Pemberton Hills, Northwest Expo, Red Dog, Downward Dog and Goodspeed targets. The survey commenced at Pemberton Hills on October 20, 2022 and concluded on December 4, 2022 with final reports received during January 2023.

This reinterpretation is a result of the integration of the results of Northisle's work with a previously confidential report completed by researchers from Lakehead University, the University of Tasmania's Centre for Ore Deposits and Earth Sciences, UBC's Mineral Deposit Research Unit and the BC Geological Survey. Utilizing this integrated model, the indications are that the core of the porphyry system is to the northeast of the location of previous work on the target.

As a result, Northisle specified a target area for geophysics (see Figure 3), which was anticipated to help identified the key subsurface structures which might support the overall thesis. The completed survey included a total of 23.55 line-kilometers covering an area of 4.4 km by 2.2 km.

Fifteen preliminary targets have been defined by coincident high IP chargeability and magnetic susceptibility within or adjacent to the mapped quartz-white mica-pyrite alteration zone, of which five have been selected as near-term priority targets which will be permitted for work during 2023. The holes are planned to be oriented to drill through the high chargeability anomalies into the magnetic anomalies which are considered to be the most likely host of potential mineralization in the porphyry system.

Northwest Expo

At Northwest Expo (see Figure 5), the geophysical survey totaled 11.1 line-kilometres covering an area of 2.6 km by 1.0 km northeast of the Zone 1 area where Northisle carried out drilling in 2021 and identified a gold-enriched zone which is interpreted to be a portion of a larger porphyry system.

Fifteen preliminary targets have been defined by coincident high IP chargeability and magnetic susceptibility within or adjacent to the mapped quartz-white mica-pyrite alteration zone, of which five have been selected as near-term priority targets which will be permitted for work during 2023. The holes are planned to be oriented to drill through the high chargeability anomalies into the magnetic anomalies which are considered to be the most likely host of potential mineralization in the porphyry system.

Northwest Expo

At Northwest Expo (see Figure 5), the geophysical survey totaled 11.1 line-kilometres covering an area of 2.6 km by 1.0 km northeast of the Zone 1 area where Northisle carried out drilling in 2021 and identified a gold-enriched zone which is interpreted to be a portion of a larger porphyry system.

The results of that survey (Figure 11) showed coincident chargeability and magnetic anomalies in the area of the coincident soil geochemical anomalies noted above. Previous drill holes, including Northisle's 2021 drill hole RD21-02, were either drilled away from the coincident geophysical anomalies, were too short or did not penetrate overburden.

About Northisle

Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada's leading sustainable mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.

Contact:

Northisle Copper and Gold Inc.

Nicholas Van Dyk, CFA

Chief Financial Officer

Tel: (604) 638-2515

Email: info@northisle.ca

WEB: www.northisle.ca

Cautionary Statements regarding Forward-Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as 'may', 'should', 'anticipate', 'expect', 'intend' and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to outcome of exploration programs as well as any other future plans, objectives or expectations of Northisle. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

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