Northisle Copper and Gold Inc. announced that it has commenced its 2024 Phase I exploration program at the North Island Project. The 2024 Phase I exploration program will consist of approximately 10,000 metres (m) of drilling and is designed to systematically vector towards the core of several identified porphyry systems trending across Goodspeed and Northwest Expo. Surface mapping and additional geophysics will continue on high priority targets throughout Northisle?s district-scale North Island Project.

In addition, the Company has released its Pemberton Hills 2023 drill results which confirms the overall exploration thesis and demonstrates progress towards the porphyry system?s potassic layer. A drill is currently being staged to the West Goodspeed target, with a second drill rig to be added to support helicopter-assisted drilling at Northwest Expo within the coming weeks. Key Catalysts: In 2024, the Company will continue advancing the North Island Project, with development and exploration catalysts throughout the year leading to measurable impacts for shareholders, including the following: COMPLETED - Geophysics results from Northwest Expo and West Goodspeed; COMPLETED - Final 2023 Pemberton Hills Drill Results; COMPLETED - Commencement of 2024 drilling program; Second Quarter 2024- Preliminary Project Trade-offs; Late Q2/Early Third Quarter 2024 - Initial Exploration Results from 2024 Phase 1 drilling program; Third Quarter 2024 - Commencement of advanced economic and technical studies; H2 2024 ?

Full Results from 2024 Phase 1 drilling program; and Ongoing - Continued positive engagement with indigenous rightsholders and local stakeholders. West Goodspeed Exploration: Drilling in 2024 will commence with the West Goodspeed target, the discovery of which was announced by Northisle in December 2023. The West Goodspeed target was identified through a combination of a ground geophysical survey and a review of historical exploration activity including recent surface alteration mapping, examining 2017 drill logs adjacent to Red Dog and historical assessment reports.

Mineralization in GS23-04 and GS23-05, which starts immediately below 6 metres of overburden and includes 125m grading 0.49% copper equivalent (Cu Eq) in GS23-05 and 78m grading 0.48% Cu Eq. in GS23-04 is associated with quartz-sericite-pyrite (QSP) alteration which suggest the drill holes are proximal to the potential causative intrusion for this porphyry system. The initial follow-up drill program will systematically seek to vector towards the source intrusion with the goal of intercepting the potentially higher grade potassic zone commonly found in similar porphyry systems. At the previously producing Island Copper mine the potassic alteration consisted of biotite-magnetite.

GS23-04 and GS23-05 are peripheral to and north of a large northerly trending magnetic anomaly which will be further explored by drilling. GS23-05 ended in mineralization proximal to this anomaly. The 2024 program at West Goodspeed will include approximately 3,600m of drilling in at least 7 step-out holes to the south and east of the two West Goodspeed discovery drill holes.

Additional holes are proposed for a magnetic anomaly southeast of the original Goodspeed surface exposure of stockwork quartz-magnetite veinlets hosting chalcopyrite and bornite. Northwest Expo Exploration: After drilling at Goodspeed concludes, Northisle will be systematically testing several targets at Northwest Expo for the source of the gold-enriched mineralization contained in the recently announced Northwest Expo Mineral Resource Estimate (MRE). In addition, the 2024 exploration program includes several in-fill holes designed to convert a significant portion of the inferred resource within the higher-grade southwest portion of the deposit, while also testing the potential for a porphyry source at depth, highlighted by an intercept in NW23-13 which included 130m grading 2.13 grams per tonne (g/t) gold equivalent (Au Eq).

Within the deposit footprint, the Company has planned approximately 3,600m of drilling in 8 drill holes. Three of the drill holes at the south of the resource shell are planned to test for the potential source of the higher-grade mineralization that was observed during 2023 drilling in stockwork covellite, chalcocite, and bornite veinlets in porphyry xenoliths, within a hydrothermal breccia encountered in drill hole NW23-13. This breccia was observed from 320m to 338m and graded 3.5g/t gold (Au) and 1.0% copper over 18 m. In addition, a review of Northisle drill core and from programs carried out by previous operators identified drill core which includes stockworked A and B style quartz veining at depth in drill hole EC-233 200m northwest of NW23-13.

The mineralized material contains fluorine bearing topaz, which in upper parts of porphyry systems occurs above the hydrothermal up-flow zone, higher temperature, low pH clays including pyrophyllite and dickite which also occur in adjacent drill holes and suggest proximity to the potassic zone below this area, which is typical of porphyry systems. The proposed location of drill holes within the Northwest Expo deposit as well as the location of identified porphyry-style veining relative to the existing resource model and the target area for potential causative intrusions at depth. In addition, step-out drilling is planned, subject to receipt of all relevant approvals, to test several additional potential porphyry occurrences in the area between Northwest Expo and Goodspeed which is part of the larger trend on the northwest end of the North Island Project.