Canadian Copper Inc. (CNSX:CCI) entered into a letter of intent to acquire 28% stake in Murray Brook Project located in the Bathurst Mining Camp of New Brunswick from MetalQuest Mining Inc. (TSXV:MQM) on September 11, 2023. With the completion of this acquisition, Canadian Copper will control 100% of the Murray Brook deposit. The Company and Seller have agreed to the following considerations under the LOI signed on September 11th, 2023.

Canadian Copper Inc entered into definitive agreement to acquire 28% stake in Murray Brook Project on January 31, 2024. Closing of transaction is subject to exchange approvals, satisfactory Completion of Due Diligence and the execution of a definitive purchase agreement: A CAD 100,000 deposit paid to Seller upon signing LOI and commencement of five-month exclusivity arrangement ending January 31st, 2024. A CAD 200,000 to be paid by the Company to the Seller upon PA execution.

The issuance of 2,500,000 units of Canadian Copper. Each unit to consist of one common share priced using the 30-day volume-weighted average price ("VWAP") ending on the date immediately before the closing of the PA ("Unit Price") with a four month hold period plus one day after which, 25% of the total units shall be released to MetalQuest every three months (a "quarter") resulting in 100% of the units being released to MetalQuest after four (4) quarters from the conclusion of the initial hold period, and one full warrant exercisable for five years at an exercise price that is a 50% premium to the Unit Price. A 0.33% net smelter return ("NSR") royalty on the MB asset.

50% of NSR can be repurchased by the Company for CAD 1.0 million. A final installment of CAD 1,000,000 to be paid by the Company to the Seller within 31 days of commercial production.