CopperCorp Resources Inc. announced an update on exploration activities at its Razorback property located in western Tasmania, Australia. Highlights: Preliminary assay results from reconnaissance surface sampling confirm high-grade REE in outcrop up to 18.58% TREO. The outcrop occurs 1km southeast of previously drilled REE mineralization.

Significant widths of REE mineralization confirmed by resampling of historical drill core at Darwin prospect, with intercepts including: SDD005: 72.0m @ 1.13% total rare earth oxides (TREO) from 286m, including, 30.0m @ 2.26% TREO from 296m, including 10.0m @ 3.0% TREO from 307m, SDD001: 105.0m @ 0.46% TREO from 110.0m, including, 8.0m @ 1.05% TREO from 129.0m. REE and associated IOCG style Cu-Au mineralization remains open along strike and at depth with only 10% of a 7km long highly prospective Darwin Zone currently drill tested. Distribution of REE grades in drill holes suggests an inner and deeper core of high-grade REE mineralization is enveloped by a wide outer halo or shell of lower-grade REE mineralization.

REE expert Dr Phillip Hellman has been engaged as an advisor to the Company. Permits for surface geological work and exploration diamond drilling programs have recently been awarded to CPER. Field crews have initiated mapping and sampling programmes and planning for diamond drilling at Darwin prospect is underway.

The Darwin zone target area is defined by a 7km long north-south trending coincident magnetic and potassium-thorium radiometric anomaly. Historical drilling1 into part of this extensive anomaly at the South Darwin prospect intercepted significant IOCG style Cu-Au and REE mineralization associated with north-south trending hydrothermal breccias comprised of magnetite-hematite-pyrite-chalcopyrite-bornite mineralization hosted in intensely K-feldspar-chlorite-tourmaline altered volcanics proximal to granitic and porphyry intrusives. The mineralization at South Darwin remains open at depth and along strike.

Previous drilling has tested less than 10% of the 7km-long magnetic-radiometric anomaly suggesting significant potential to expand the REE and Cu-Au discovery at Darwin Zone. The IOCG style mineralization drilled at South Darwin comprises vein, breccia and semi-massive to massive magnetite-pyrite-chalcopyrite. The previous drilling returned a best intercept of 13.0m @ 1.2% Cu and 0.45g/t Au from 345m (SDD005) and the same hole also intercepted significant REE mineralization which has been resampled as part of the Company's verification of historical assays.

Assay results have been received for the partial re-sampling of six historical diamond drill core holes (SDD001 to SDD006) from the South Darwin prospect area. Historical drilling at the South Darwin prospect comprises 8 diamond core holes totaling 2,293m, drilled between 1971 and 2018. Only 6 of the historical drill holes were available for resampling.

Previous explorers sampled the drill core using a range of gold and multi-element analytical techniques (commonly not consistent between successive drill campaigns). However, due to the historical focus on Cu-Au mineralization, previous sampling did not include routine assaying for full suite rare earth elements. The Company undertook resampling and assaying of a full suite REE elements from the available drill holes in order to further assess the REE potential of the Razorback property.

Sample intervals were selected based on anomalous Ce and La values from previous multi-element assay results. A total of 504 samples of well-preserved half- and quarter-core were collected from six drill holes and submitted to ALS Global laboratories in Australia. Samples were taken on nominal 1-meter intervals.

All samples were assayed by analytical method ME-MS81h which incorporates a lithium borate fusion prior to acid dissolution and ICP-MS analysis. The resampling assay results confirm that the high-grade REE mineralization at South Darwin is enriched in critical listed and valuable REE minerals including a high-value component of approximately 25m at 0.57% MREO in SDD005. Preliminary assays from reconnaissance field sampling has confirmed high-grade REE mineralization in outcrop at the South Darwin prospect with rock chip samples returning 14.28% to 18.58% TREO in the vicinity of historical samples that assayed up to 16.2% TREO.

The high-grade mineralization appears to be associated with a biotite-allanite-monazite bearing late-stage intrusive rock, however, follow-up field mapping and mineralogy work is in progress to develop a better understanding of the style and controls to the REE mineralization. Importantly, these rocks chip samples were taken approximately 1km southeast of the high-grade REE intercept in drill hole SDD005. These recent results and historical rock chip sampling illustrating the exploration potential of the project to deliver further REE discoveries.

The Company has commenced field mapping and sampling programs at Razorback. Drilling programs proposed to test for extensions to REE and Cu-Au mineralization at the South Darwin prospect were recently permitted and the Company has commenced preparatory access work.