Company Announcements

2025 Successes Include Newly Identified Copper-Gold Mineralization at Cougar, Expansion of West Goodspeed and Initiation of PFS Targeted for Completion during 2026

Highlights:

• In 2026, we are advancing the North Island Project towards PFS
• Building on our largest ever field program completed at the North Island Project in 2025
  • Identified copper-gold mineralization at the Cougar target between the existing Northwest Expo and Red Dog deposits
  • 4 drills turning in Q4, with 20,297 meters of exploration and infill drilling across 58 holes completed
  • Continue to extend mineralization at West Goodspeed over 1.2km strike
  • Advance district-scale exploration program to delineate the potential of the 50-kilometre North Island porphyry district
• Continued positive engagement with First Nations partners, municipal, provincial, and federal governments, and local community stakeholders, underscores alignment towards the continued development of the North Island Project
• Ongoing team expansion to support growth
  • Addition of Alex Davidson and Jill Donaldson to the Board of Directors
  • Appointment of Kevin O’Kane as Chief Operating Officer and the additions of Dr. Pablo Mejia Herrera as VP Exploration and Brian Ferrey as VP Corporate Development & Investor Relations

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 21, 2026-- Northisle Copper and Gold Inc. (TSX-V: NCX, OTCQX: NTCPF) (“Northisle” or the “Company”) is pleased to provide an update on its progress at the North Island Project during 2025 and to highlight the Company’s execution plan for 2026.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260121765252/en/

Figure 1. North Island Property Showing Deposits and Targets

Sam Lee, President & CEO commented “2025 was a transformational year for Northisle. We demonstrated the robust economic and strategic merits of the North Island Project and are now advancing the project in a disciplined and responsible manner. In parallel, we are pursuing what we believe to be a significant copper-gold opportunity across our 40-kilometre, 100%-owned porphyry district, supported by a systematic, district-wide exploration program designed to expand resource grade, project scale, and long-term optionality.

“We continue to build a leading technical and operational team, strengthening our ability to execute our high-growth, value-creation strategy. Our progress is underpinned by strong, respectful partnerships with First Nations and ongoing engagement with Municipal, Provincial, and Federal governments, supporting responsible development, environmental stewardship, and a clear permitting pathway in a stable, low-risk jurisdiction.

“The objectives we have established for 2026 and beyond are ambitious, achievable, and transformative, and are aligned with the growing demand for responsibly sourced copper – critical to electrification and decarbonization – and gold – a growing critical currency. We believe these qualities position Northisle to deliver meaningful shareholder value, resource growth, and district-scale upside in a premier copper-gold jurisdiction.”

As with prior years, the Company is providing a set of project milestones which set out its ambitious plans for the year.

Exploration and Development Milestones

Key project milestones for 2025 and 2026 include the following:

• COMPLETED – Updated Preliminary Economic Assessment on North Island Project
• COMPLETED – C$39.5 million financing
• COMPLETED –BC Hydro Conceptual Review of Interconnection
• COMPLETED – Team additions and enhancements to support growth
• COMPLETED – Commencement of expanded baseline study program to support EA Readiness
• COMPLETED – Largest ever field program at North Island Project with 20,297 metres and 58 holes drilled
• COMPLETED – Confirmed mineralization at West Goodspeed over 1.2km strike
• COMPLETED – Identified copper-gold mineralization at the Cougar Target, between the Northwest Expo and Red Dog deposits
• COMPLETED – Infill drilling at Northwest Expo (pending assay results)
• Q1 2026 – Assays from infill drilling at Northwest Expo
• Q1 2026 – Infill drilling ongoing at Red Dog (pending assay results)
• Q2 2026 – Initial Metallurgicaltest results for the North Island PFS
• Q2 2026 – Assays from Red Dog infill drilling
• Q2 2026 – Integrated resource update for the North Island Project
• Q2 2026 – Commence extension drilling in Northwest Corridor
• Q3 2026 – Target for initiation of early engagement on mine waste storage area
• Q3 2026 – Initiate drilling at regional exploration targets
• Q4 2026 – Results from drilling at regional exploration targets
• Q4 2026 – North Island PFS results announced
• H2 2026 – Commence BC Hydro System Impact Study
• H2 2026 – Initial Project Description filed
• Ongoing –Continued positive engagement with indigenous rightsholders and local stakeholders
• Ongoing – Additional team additions to support further growth

North Island Project Development Update

In February 2025, Northisle completed a Preliminary Economic Assessment (the “2025 PEA”) for the Company’s 100% owned North Island Project (see news release “Northisle 2025 PEA Indicates 29% After-tax IRR and $2 Billion NPV for Staged Development of the North Island Project”, dated February 19, 2025).¹ The 2025 PEA demonstrated robust economics with a $2.0 billion NPV (7%) and 29% IRR at base case prices and $3.8 billion NPV (7%) and 45% IRR at February 2025 prices.² The phased development approach considered in the 2025 PEA indicated a payback period of less than 2 years, strong leverage to copper and gold prices, compelling capital intensity, and an attractive return profile.

The Company subsequently commenced a comprehensive, multidisciplinary program to support the completion of a Pre-Feasibility Study at the North Island Project (the “North Island PFS”), as well as advance the exploration thesis across the 50-kilometre North Island porphyry district. In total, the Company completed 20,297 metres of drilling across 58 holes in 2025, which included infill drilling at the Northwest Expo and Red Dog deposits with the objective of upgrading Inferred Resources to the Indicated category in support of the North Island PFS. The Company also continued environmental baseline work and is finalizing the selection of a lead consultant for further expansion of the baseline program. Finally, the Company has commenced a geotechnical site investigation program to support the North Island PFS, as further detailed in this press release.

Work on the North Island PFS is ongoing, and the Company is currently targeting completion of the North Island PFS in Q4 2026.

Discussion of Drill Results

During 2025, the Company completed 20,297 metres of drilling across 58 holes, comprising 9,478 metres across 26 holes of infill drilling, 9,007 metres across 26 holes of exploration drilling, and 1,811 metres across 6 holes of geotechnical drilling. 2025 drilling activity focused principally on the Northwest Expo, Red Dog, and West Goodspeed areas (Figure 1).

The 2025 exploration program was designed with two primary objectives:

1. Resource definition in support of the North Island PFS; and
2. Advance the understanding of property-wide geology and the exploration thesis across the North Island porphyry belt

At Northwest Expo, 9,867 metres of drilling across 26 holes were completed in 2025. The Company’s activities at Northwest Expo focused on infill drilling with the objective of upgrading Inferred Resources to the Indicated category in support of the North Island PFS. Preliminary XRF data from Veracio TruScan scanning indicate continuity within the core of the inferred resources intersected by infill drilling. Assay results for the final 9,867 metres of drilling at Northwest Expo are targeted for release during Q1 2026.

1,761 metres across 7 holes were drilled at Red Dog during 2025, where infill drilling is ongoing. Similar to Northwest Expo, the Company’s activity at Red Dog focused on infill drilling to upgrade resources in support of the North Island PFS. Preliminary results from infill drilling at Red Dog, supported by XRF analysis using Veracio TruScan, have confirmed mineralization within the Inferred Resources and identified additional zones of copper mineralization. These new zones will be further evaluated upon completion of the drilling campaign and receipt of assay results from the approximately 3,000 metres of planned drilling. Assay results for the final 3,000 metres of drilling at Red Dog are targeted for release in Q2 2026.

Drilling at West Goodspeed has outlined a broad zone of copper-gold mineralization extending from near surface to depth across the central and northwestern portions of the system. 6,653 meters across 20 holes were drilled at West Goodspeed in 2025. To date, mineralization has been outlined over more than 1.2 kilometres of strike and to a vertical depth of approximately 280 metres below surface (see news release “Northisle Announces Continued Growth of West Goodspeed Target to over 1.2km Strike with Additional High-Grade Intervals”, dated November 17, 2025).³ The 2025 results confirm the extent of the system and copper and gold grades observed in previously disclosed drilling, while also providing a better understanding of the lithological and structural controls that govern mineralization in this part of the North Island Project. The Company is assessing the potential for a future drilling campaign to test further extensions of mineralization to the east and at depth.

At the Cougar target, the Company identified copper-gold mineralization in three holes with a total of 1,275 metres of drilling completed in 2025. This drilling intersected multiple zones of copper mineralization across several holes (Table 1). Hole NW25-38 returned two mineralized intervals, including 18.0 metres grading 0.19% Cu Eq., followed by a broader interval of 29.9 metres grading 0.36% Cu Eq. Hole NW25-39 intersected three mineralized intervals, comprising 14.0 metres grading 0.23% Cu Eq., 29.7 metres grading 0.37% Cu Eq., and a deeper interval of 29.7 metres grading 0.34% Cu Eq. Hole NW25-40 returned a continuous mineralized interval of 42.0 metres grading 0.31% Cu Eq.

These results confirm the presence of copper mineralization at Cougar, a target initially outlined by a magnetic anomaly located approximately 1.0 kilometres northeast of NW Expo and 2.3 kilometres northwest of Red Dog (see news release “Northisle Provides Update on Largest Ever Field Program at North Island”, dated October 6, 2025).⁴ The proximity of hole EC-242, which intersected 61.0 metres grading 0.30% Cu Eq. from 210.3 metres and 23.2 metres grading 0.46% Cu Eq. from 278.6 metres (see news release “Northisle Announces Positive Results of Surface Exploration Program”, dated January 23, 2023)⁵, and which is located approximately 280 metres west of the Cougar target, indicates a broad footprint of copper-gold mineralization in this sector. An assessment of the exploration potential at Cougar is currently underway.

Note on equivalent calculation for Cougar:

Copper equivalent grade is determined by calculating total contained metal value per tonne, adjusted for recoveries, if known, dividing by the copper price, and then dividing the resultant number of pounds of copper by 2204.6. Gold equivalent grade is determined by calculating total contained metal value/tonne, adjusted for recoveries, if known, dividing by the gold price, and then multiplying the resultant number of troy ounces of gold by 31.103. Analyzed metal equivalent calculations are reported for illustrative purposes only and assume 80% recoveries as metallurgical testing has not yet been completed on material from the Cougar target.

Copper and gold equivalent calculations based on the following metal prices which were used in the Company’s 2025 Preliminary Economic Assessment for North Island: Cu = US$4.20/lb, Au = US$2,150/oz, Mo = US$21/lb, Re = US$1,950/kg. Intervals were selected based on continuous intercepts with a copper grade above 0.1% Cu or a gold grade above 0.1g/t Au. Totals may not add due to rounding.

Intervals are drill intersections and not necessarily true widths. True widths cannot be provided at this time due to the uncertainty in the geometry of the mineralization. Drill intersections have been selected and composites calculated independently by Northisle. The locations and distances highlighted on all maps in this news release are approximate.

Regional Exploration Program

Stream Sediment Program

Northisle plans to follow up on stream sediment anomalies identified during the 2025 regional sampling program. This work will focus on evaluating anomalous signatures that may indicate the presence of previously unrecognized porphyry-style mineralization and will be used to further refine the ranking of priority areas (see news release “Northisle Provides Update on Largest Ever Field Program at North Island”, dated October 6, 2025).⁶ Results from this follow-up stream sediment program are expected to support the advancement of the highest-priority areas to drill-ready targets for evaluation in 2026.

District-Scale 3D Geological Modeling

Northisle continues to advance its district-scale 3D geological model through the integration of regional geophysical surveys with an improved understanding of porphyry-style mineralization across its principal deposits (see news release “Northisle Provides Update on Largest Ever Field Program at North Island”, dated October 6, 2025).⁶ Geophysical inversions are constrained using available geological information, including surface mapping and drilling data from the 2025 campaign. The evolving district-scale models are being used to evaluate the potential for extensions of known porphyry mineralization at depth at NW Expo, Red Dog, West Goodspeed, and Hushamu, as well as to identify other areas within the district that exhibit geophysical signatures comparable to those associated with known mineralization.

2026 Property-wide Exploration Plan

Northisle plans to continue the systematic exploration of its property in 2026, pursuing two primary objectives:

1. Improve the geological understanding and expand the mineral inventory of the North Island Project in support of the North Island PFS
2. Further evaluate the regional potential of the 50-kilometre North Island porphyry district

To support the North Island PFS, the Company intends to evaluate potential of new target areas within and nearby the Northwest Corridor, including Cougar and Hep, as well as the extension of existing deposits and targets. In principle, the Company’s exploration activities will focus on identifying: (i) additional porphyry-style mineralization, and (ii) higher grade material, which has the potential to be incorporated into the North Island Project PFS. (Figure 3)

The focus of the Company’s 2026 regional exploration program will be on identifying larger porphyry systems outside the Northwest Corridor, with the objective of demonstrating the broader geological potential of the Company’s extensive land package. Planned activities include continued compilation and integration of historical exploration data, detailed surface sampling supported by the existing road and access network, geological mapping, and targeted drilling within high-priority areas, including North Hushamu and the West Pemberton area. (Figure 3)

Environmental Baseline and Geotechnical Site Investigation Program Details

Planning, First Nation engagement, and selection of consultants for environmental baseline work is ongoing. Field work is expected to commence in Q1 2026. The geotechnical site investigation program for the PFS was initiated in October 2025 and includes drilling, test pitting, and seismic testing. Work is ongoing and is planned for completion during Q2 2026.

Government, First Nations, and Local Community Engagement

Central to the Company’s sustainable development strategy are strong, respectful partnerships with First Nations, local communities and governments.

In January 2026, the Company hosted the Honourable Jagrup Brar, Minister for Mining and Critical Minerals for the Province of British Columbia at its 100% owned North Island Project near Port Hardy, BC.

As part of the visit, the Company was honoured to participate in an introductory discussion between Minister Brar, Council of the District of Port Hardy, and Chief James Nelson of Quatsino First Nation. This initial meeting confirmed a shared interest in collaboratively evaluating the North Island Project and established a foundation for further engagement among all parties.

Ongoing Team Build-Out

In order to support successful execution at the North Island Project and future growth, the Company continues to expand its executive team and Board of Directors. Key team additions and enhancements include the following:

• March 2025: Dr. Pablo Mejia Herrera – Vice President, Exploration
• April 2025: Alex Davidson – Independent Director (Committees: Technical and Sustainability (Chair), Audit)
• May 2025: Jill Donaldson – Independent Director (Committees: Corporate Governance, Compensation and Nominating (Chair), Audit)
• September 2025: Kevin O’Kane appointed to Chief Operating Officer. Mr. O’Kane continues to serve as a Non-independent Director of the Company (Committees: Technical and Sustainability)
• January 2026: Brian Ferrey – Vice President, Corporate Development & Investor Relations

The Company expects to continue enhancing its team during 2026.

Additional Technical Details

Logging, Sampling and Assaying Procedures and QA/QC

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control (QA/QC) program. Drill intersections in this release are typically HQ to 150 metres and NQ thereafter to the end of holes. After drilling, core was logged for geology, structure, and geotechnical characteristics utilizing MX Deposit — core logging software, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples of 3-metre length or less. Drill core was cut lengthwise in half with a core saw. Half-core was sent for assays reported in this news release.

A minimum of +7.1% assay standards or blanks and +3.9% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and Pulps Blanks were obtained from CDN Resource Laboratories, Langley, British Columbia. Coarse Blanks were obtained from unmineralized course bagged limestone landscaping rock. Standards and blanks in 2025 drill results to date have been approved as acceptable. Duplicate samples sourced from both pulp and coarse rejects as well as quarter-core field duplicates add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels.

Samples were sent to the MSALABS in Langley, British Columbia, where the samples were dried, then crushed, split and a 250-gram (g) split was pulverized to 85% passing -200 mesh (-75 micrometres (µm)) size pulps. Clean crush material was passed through the crusher, and clean silica was pulverized between each sample. The pulps were analyzed for gold by fire assay fusion of 50 g of the 250 g split. Total gold content was determined by digesting the silver doré bead from the fusion and then analysing by AA (MSA Code FAS-121). All samples were also analyzed for multiple elements by taking a 0.25 g of the 250 g split which was heated in HNO3, HClO4 and HF to fuming and taken to dryness. The residue was dissolved in HCl and then analyzed utilizing ICP-MS (MSA Code IMS-230). Any copper analysis exceeding 1% had the pulp re-analyzed using the “Ore grade” ICP-ES finish to constrain copper content up to 40% (MSA Code ICF-6Cu). Any sulphur analysis from this latter analysis with a value greater than 10% was reanalyzed utilizing a Leco sulfur analyzer. Iron and Tungsten accelerators are added to the sample and a stream of oxygen is passed over the sample in the induction furnace. As the sample is heated, sulfur dioxide released from the sample is measured by an IR detection system and the Total Sulphur content is determined. (MSA Code SPM-210). MSALABS (Langley) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Pulps and rejects of holes with significant assay intervals are stored at West Coast Mineral Storage. The remaining split core is indexed and stored at the Company’s logging and office facility in Port Hardy, BC.

Drill Results in this news release are length weighted averages.

Qualified Persons and Data Verification

Dr. Pablo Mejia Herrera, P.Geo., Vice President Exploration of Northisle, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this news release. Dr. Mejia Herrera has verified the data disclosed, including the sampling, analytical and test data underlying the disclosure, through multiple visits to drill sites, oversight of sample preparation protocols, and review of the QA/QC procedures applied to analytical results received from MSALABS.

About Northisle

Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada’s leading sustainable mineral resource company for the future. Northisle, through its 100% owned subsidiary North Island Mining Corp., owns the North Island Project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle on a belt stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Since 2021, the Company has discovered two significant deposits, expanded resources, demonstrated the economic potential of the project, and is now focused on the development of this compelling project while exploring within this highly prospective land package.

For more information on Northisle please visit the Company’s website at www.northisle.ca.

Cautionary Note Regarding Adjacent and Historical Property Disclosure

This news release contains information regarding adjacent and historical properties and deposits. Investors are cautioned that adjacent mineral deposits or systems, or past performance of historical mines, do not necessarily indicate and certainly do not prove the existence, nature or extent of mineral deposits on the North Island Project.

Cautionary Statements regarding Forward-Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions. Forward-looking statements in this news release include, but are not limited to: plans and expectations regarding the 2026 exploration program; plans and expectations regarding future project development; timing of key catalysts; planned activities, including further drilling, at the North Island Project; the Company’s anticipated exploration activities; the Company’s planned team additions or enhancements; and the Company’s plans for advancement of the North Island Project. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, the Company’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260121765252/en/

On behalf of Northisle Copper and Gold Inc.

Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: (604) 335-3590
Email: info@northisle.ca
www.northisle.ca

Source: Northisle Copper and Gold Inc.