Granite Creek Copper Ltd. provided additional detail on the acquisition of a 100% interest in the Lucky Ship molybdenum project (LS Project) from two arm's-length vendors (Vendors). The LS Project is located within the traditional territory of the Wet'suwet'en First Nation in central British Columbia and is in a region with a long history of mining, including the Endako molybdenum mine, the Huckleberry copper-molybdenum mine, the Equity silver mine, and others. The project is accessible year-round along a well-developed network of forestry roads, with a high-capacity power line within 50 kilometres and paved highway and rail line access within 85 kilometres.

Under the terms of the option agreement, the Company can acquire a 100% interest in the LS Project for the following consideration: Issue the Vendors 3,7500,000 common shares as follows: 500,000 shares within 10 days following TSXV approval; 750,000 shares on or before the 12 month anniversary of TSXV approval ("Year One"); 1,000,000 shares on or before the 24 month anniversary of TSXV approval ("Year Two"); and 1,500,000 shares on or before the 36 month anniversary of TSXV approval ("Year Three"). Keep the LS Project in good standing by completing work, filing Portable Assessment Credit or paying cash in lieu thereof of: (i) a minimum number of work credits equal to two years' assessment credit on or before the conclusion of Year One; (ii) a minimum number of work credits equal to two years' assessment credit on or before the conclusion of Year Two; and (iii) a minimum number of work credits equal to four years' assessment credit on or before the conclusion of Year Three (the "Work"). On completion of the share issuances and the Work, if the total aggregate cash value of the share issuances totals less than $300,000, then the Company will make a cash payment to the Vendors equal to the difference between the aggregate cash value of the share issuances and $300,000.

On exercise of the option agreement, the Company will grant the Vendors from and after commercial production an aggregate 2.0% net smelter returns royalty on the LS Project(the "NSR Royalty"). The Company shall have the right at any time to purchase the first 1% of the NSR Royalty for $500,000 and the remaining 1% NSR Royalty for $1,000,000. The acquisition of the LS Project is subject to approval by the TSX Venture exchange.