Universal Copper Amends Poplar Property Option Payment Terms

VANCOUVER, BC / ACCESSWIRE / September 19, 2023 / Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture:UNV)(Frankfurt:3TA2) is pleased to announce it has re-negotiated the previous agreement with Doctors Investment Group Ltd. (the "Vendor") whereby the companies have agreed to amend the remaining payment schedule for the Poplar Copper Project ("Poplar") as set out in the original Option Agreement dated November 17^th, 2017 as amended March 9, 2018, May 17, 2018, and May 25, 2019.

The Company maintains its option to earn a 100% interest in the Poplar property located in British Columba, Canada, and in consideration for extending the time in which to fulfil the Company's obligation as set out below, the Company and the Vendor have agreed to the following:

Schedule of remaining Cash Payments as follows:

• Pay $150,000 to the Vendor by November 17th, 2023; and
• Pay $250,000 to the Vendor by December 15th, 2024; and
• Pay $500,000 to the Vendor by December 15th, 2025; and
• Pay $750,000 to the Vendor by December 15th, 2026; and
• Pay $4,000,000 to the Vendor by December 15th, 2027.

Clive Massey, Universal Copper's CEO, stated, "We are pleased that Universal has successfully negotiated an amended payment schedule with the vendor. This will enable the Company to focus its financial resources on exploiting the exploration potential that we believe exists at the Poplar Copper Project. We are eager and optimistic to expand the higher-grade mineralization as well as initiating further exploration on some of the outlying targets."

About Poplar

The 61,566-hectare Poplar Project hosts a current undiluted indicated mineral resource of 152.3 million tonnes grading 0.32 per cent copper, 0.009 per cent molybdenum, 0.09 g/t gold and 2.58 g/t silver and an undiluted inferred mineral resource of 139.3 million tonnes grading 0.29 per cent copper, 0.005 per cent molybdenum, 0.07 g/t gold and 4.95 g/t silver. The mineral resource estimate has a cut-off grade of 0.20% copper. Universal Copper cautions investors mineral resources, which are not mineral reserves, do not have demonstrated economic viability.

Poplar lies in a historic mining region, located 35km from the Huckleberry Mine and 42km from Equity Silver Mine, where low snowfalls will allow year-round work. The road accessible property is bisected by a 138 Kva Hydro electric line and lies 88km from the rail head at Houston and 400km from the deep-water port at Prince Rupert by rail.