Copper Road Identifies Priority JR Zone Targets for Upcoming Drill Program at Its Project in Batchewana Bay, Ontario

TORONTO, June 22, 2023 (GLOBE NEWSWIRE) -- Copper Road Resources Inc. (TSXV: CRD) (“Copper Road” or the “Company”) is pleased to announce the proposed 2023 drill program at the highly-prospective JR Zone at its Copper Road Project in Batchewana Bay, Ontario.

The Company plans to test the following priority targets at the JR Zone:

• J-P-23-01: the hole will test the Jogran porphyry at depth proximal to historical DDHs from 1964: JDH-13 (5 to 152 m: 147 m @ 0.27% Cu, 0.068% MoS₂, 0.55% Cu Eq) and JDH-16 (5 to 170 m: 165m @ 0.23% Cu, 0.054% MoS₂, 0.44% Cu Eq), neither of which were assayed for potential by-product metals (e.g. Au, Ag, Re, W). The hole will be designed to test the porphyry mineralization to a vertical depth of 400 m which is approximately twice the extent of known mineralization.
• J-P-23-02: the hole will test an area of mid-grade Cu mineralization in historical DDH JDH-07 which intercepted 14.6 m of 0.50% Cu from 126.8 to 141.4 m, 11.5 m of 0.34% Cu from 184 to 195 m and bottomed in quartz stringers with clusters of chalcopyrite and bornite at 197 m. According to historical drill logs, chalcopyrite was evident in 74% of the core yet only 232 feet (35%) of the core was sampled in 1964.
• R-P-23-01: the hole will test the extension of the historic high-grade intercepts in the Richards Breccia by stepping out approximately 50 m to the west of AR97-07 (27 m @ 1.46% Cu, 0.17 g/t Au, 3.8 g/t Ag) at a vertical depth of approximately 50 m. The company interprets the high-grade mineralization to follow the perimeter of the breccia pipe similar to the Breton Breccia, Tribag Mine Zone. This is supported by the semi-circular geometry of the Gradient IP anomaly associated with the Richards Breccia (see Figure 3).
  

Note: Assumptions used in USD for the copper equivalent calculation were metal prices of $3.87/lb Copper, $56.57/kg Molybdenum, and recovery is assumed to be 100% as no metallurgical test data is available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Molybdenum (%) x 6.624122) (Mo% = MoS₂ x 0.6).

Additional holes have been designed to follow-up JR Zone targets laterally and at depth based on the visual results of the proposed holes listed above, as well as to test two new targets, the J2 “Roof Zone” MMI anomaly at Jogran and the Richards northwest target, a potentially larger (150 x 250 m) and more intense chargeability and resistivity anomaly similar to the Richards Breccia anomaly.