Northisle Copper and Gold Inc. announced that it has received a 5-year area-based exploration permit covering its Northwest Expo, Red Dog, Downward Dog and Goodspeed exploration targets on the North Island Project, in addition to the existing Hushamu permit. Northisle followed a robust engagement process which included extensive information sharing and discussions with impacted First Nations in advance of and throughout the permitting process. The multi-year permit covering the Pemberton Hills area has completed its referral and consultation period and is anticipated in the coming weeks.

Drilling crews are in the process of travelling to site and the Company's fully funded 2023 field season will commence with an approximately 4,000m Phase I drill program focused on defining an initial resource at Northwest Expo. Phase II will be a further approximately 4,000m of drilling to be allocated on a priority basis between Northwest Expo, Pemberton Hills and the Red Dog /Goodspeed area. Northisle has now received multi-year area-based permits covering the Northwest Red Dog, Downward Dog, Goodspeed, and Hushamu areas on the North Island Project.

The Northwest permit is valid for a total of five years through May 2028, while the Hushamu permit is currently valid through November 2024. The Pemberton Hills permit has completed the referral and consultation period and is expected in the coming weeks. Northisle plans to complete up to 8,000 meters of drilling during 2023 and will begin exploration with an approximately 4,000 meter program at Northwest Expo, which is intended to support the definition of an initial resource in the gold-enriched Zone 1. Based on drilling to date, as well as mapping and geophysical surveys, the Company has a target of 40-50 million tonnes of mineralized material for the initial resource in the gold-enriched Zone 1. With drilling anticipated to commence during the last week of May, assays are expected to be available during third quarter of 2023, with a target for completion of the initial resource estimate by late 2023.