Northisle Copper and Gold Inc. announced an initial mineral resource estimate (the ?Resource Estimate?) for the Northwest Expo deposit at its 100% owned North Island Project, located on Vancouver Island in BC, Canada. The initial Northwest Expo Indicated Resource contains 40.3 million tonnes grading 0.80g/t Au Eq. for 1.0 million ounces Au Eq.

plus an additional 30.6 million tonnes grading 0.68g/t Au Eq. for 0.7 million ounces Au Eq. in Inferred Resources, at a 0.18g/t Au Eq.

cut-off grade. Based on exploration costs by Northisle at Northwest Expo to date, this represents a discovery cost of well below $10/oz Au Eq. following the addition of the Northwest Expo deposit, the total resource for the North Island Project now comprises an Indicated Resource of approximately 2.4 billion lbs Cu and 4.9Moz Au plus Inferred Resource of approximately 1.4 billion lbs Cu and 3.0Moz Au.

The Northwest Expo deposit boasts an attractive NSR value of $55/t for the Indicated resource as a whole and $67/t for the higher grade zone which represents 2-3 times the NSR value of Hushamu and Red Dog, due to higher gold grade and higher recovery rates. At spot prices NSR values are approximately $80/tonne at a 0.5 g/t Au Eq. cut off.

The near surface sizeable initial resource delineated within the gold-enriched Zone 1 at Northwest Expo provides the opportunity to optimize the development plan of the North Island Project. Trade-off studies have been launched to study the possibility for a lower capex staged approach, prioritizing the higher-grade Northwest Expo deposit with potential to concurrently focus on the higher-grade areas of the Red Dog and Hushamu deposits. These trade-off studies are expected to be completed in Q2-2024 and will form the basis for advanced economic and technical studies.

The Northwest Expo Resource Estimate includes a total of 32 diamond drill holes totaling 14,333 meters drilled by Northisle and previous operators from 2005 through the end of 2023, of which 20 holes totaling 9,367 meters were completed by Northisle between 2021 and 2023.