NorthIsle Copper and Gold : Intersects 0.72% Cu Eq. over 50m, 0.47% Cu Eq. over 101m; Drilling Extends Mineralization more than 200m beyond the Modelled Pit Shell

August 5, 2022

TSX Venture Exchange Symbol: NCX

Northisle Intersects 0.72% Cu Eq. over 50m, 0.47% Cu Eq. over 101m; Drilling Extends

Mineralization more than 200m beyond the Modelled Pit Shell

Highlights:

• 2022 drilling at the Hushamu deposit ("Hushamu") of the North Island Copper and Gold Project (the "North Island Project") has continued to demonstrate potential to improve Mineral Resource grade and tonnage within the existing Hushamu pit design area
• HU22-01,HU22-02 and HU22-05 each extended higher-grade mineralization into areas which are currently modelled to contain waste or lower-grade mineralized material
• In addition, HU22-06 indicates mineralization continues into alteration previously interpreted as unmineralized, more than 200 m beyond the existing modelled pit shell boundary.

Vancouver, B.C. - Northisle Copper and Gold Inc. (TSX-V: NCX) ("Northisle" or the "Company") is pleased to announce assay results from its 2022 Spring drill program at Hushamu. These new results continue to affirm the interpretation that higher grade mineralization exists in under-drilled areas of the modelled pit at Hushamu. In addition, HU22-06 was continued in copper mineralization for at least 200 meters beyond the outline of the modelled pit shell.

Table 1: Hushamu 2022 Significant Intercepts

Copper and gold equivalent calculations based on the following metal prices which were used in the Company's 2021 PEA (as defined below) on the North Island Project: Cu = US$3.25/lb, Au = US$1,650/oz, Mo = US$10/lb, Re = $1,256/kg. Calculations assume 100% recovery; totals may not add due to rounding.

Note on equivalent calculation:

Copper equivalent is determined by calculating total contained metal value/ tonne, dividing by the copper price, and then dividing the resultant number of pounds of copper by 2204.6. Gold equivalent is determined by calculating total contained metal value/tonne, dividing by the gold price, and then multiplying the resultant number of troy ounces of gold by 31.103.

Robin Tolbert, Vice President Exploration of Northisle stated "Drilling at Hushamu during early 2022 continues to demonstrate the potential for improved grade and tonnage at Hushamu. In addition, we have demonstrated that historical visual interpretations of the alteration profile at Hushamu may have underestimated the overall size of the mineralized portion of the system."

Figure 1 shows the Company's existing deposits as well as key exploration targets at the North Island Project. The Hushamu deposit forms the core of the technical report titled "North Island Copper and Gold Project Form 43-101F1 Technical Report Preliminary Economic Assessment" issued June 8, 2022, with an effective date of February 4, 2021 (the "2021 PEA").

Northisle Copper and Gold Inc. | 1200 - 1166 Alberni St. | Vancouver, BC | V6E 3Z3

www.northisle.ca|info@northisle.ca

Figure 2: Hushamu Deposit Spring 2022 Drilling Plan Map

The significance of the additional 2022 Spring infill holes at Hushamu are:

• HU22-01shows significant mineralization extends from hole H-12-03 along the base of the proposed pit bottom. This may add tonnes and maintain the mineral grades over a longer distance than previously estimated.
• HU22-02shows a thicker combined mineralized interval than holes EC-184 and H-12-09 on either side of it. An additional hole will be drilled in the gap between these two holes.
• HU22-03and HU22-04 were infill holes drilled to the south of the main mineralized zone. Both intersected leached altered zones with a few narrow copper intercepts >0.01% Cu.
• HU22-05was part of a two-hole program to fill in the gap between H-12-08 and H17-02 and test the extent below the planned pit bottom. This hole showed mineralization extends to this point but not to depth. An in-fill hole between this hole and H17-02 is required to test to the south of an interpreted fault along Section 5613600E.
• HU22-06indicates that mineralization extends significantly beyond the modelled outline of the 2021 PEA pit shell on Section 581000 E:
  o Historical drilling generally ends at the interpreted interface of CMG alteration and propylitic alteration. o XRF scanning of drill core in real time indicated that core contained copper below the previously
  interpreted bottom of CMG alteration, so drilling was continued.
  o Results suggest future drilling should continue to greater depth and may represent a significant extension of mineralization.
• The spring drilling program continues to demonstrate the potential to improve tonnage and grade in an updated Mineral Resource estimate at Hushamu through both upgrading of existing blocks as well as extension of the overall orebody.

Figure 3 shows Section 580300E, where HU22-02 can be seen in the context of other drill holes.

Northisle Copper and Gold Inc. | 1200 - 1166 Alberni St. | Vancouver, BC | V6E 3Z3

www.northisle.ca|info@northisle.ca

Figure 5: Section 580700E

Figure 6: Section 581000E

As Table 1 and Figure 6 indicates hole HU22-06 extended mineralization 1200 meters beyond the 2021 PEA modelled pit shell outline on Section 581000

Logging, Sampling, Assaying and Quality Control ("QA/QC") Procedures

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are typically HQ to 100 m and NQ

Northisle Copper and Gold Inc. | 1200 - 1166 Alberni St. | Vancouver, BC | V6E 3Z3

www.northisle.ca|info@northisle.ca