Canadian Copper receives New Brunswick approval for Caribou Complex transaction

Company appoints Christian Brousseau as vice president of projects

Canadian Copper (CSE:CCI) received Lieutenant-Governor approval for the Province of New Brunswick's Minister of Natural Resources to enter into a limited environmental liability agreement with the company for the Caribou Complex. The company also announced the appointment of Christian Brousseau as vice president of projects.

The limited environmental liability agreement represents a key approval milestone in Canadian Copper's acquisition of the Caribou mining complex from the court-appointed receiver of Trevali Mining New Brunswick Ltd.

CEO welcomes milestone progress

"Receiving this approval milestone for the Caribou transaction is excellent news. Commensurate with nearing the transaction close, we are also pleased to announce Mr. Brousseau's appointment to Vice President, Projects, responsible for delivering the Murray Brook and Caribou integrated development project," Simon Quick, CEO of Canadian Copper, said "The CCI team is growing, and I am really looking forward to learning from, and working with, Christian on building New Brunswick's next critical minerals mine. I think Christian brings the right technical expertise, temperament, and project delivery experience to achieve our Company production objectives."

Transaction moves toward completion

With the LELA approval secured, Canadian Copper outlined the remaining steps to close the Caribou Complex transaction. The company and FTI Consulting Canada, the court-appointed receiver of Trevali Mining New Brunswick, will finalize the asset purchase agreement described in the Caribou Transaction Term Sheet announced on October 28, 2024.

Following completion of the asset purchase agreement, FTI will schedule a hearing to seek court approval of the agreement and a vesting order for the Caribou Complex transaction. After court approval, the company expects customary exchange of closing documents between Canadian Copper, the receiver and the New Brunswick Government. The title transfer for Caribou is expected to occur in the second quarter of 2026.

Experienced executive joins leadership team

Brousseau brings 35 years of experience in engineering, construction and project management for both greenfield and brownfield projects across precious and base metal development assets. His project execution history includes work on some of Canada's largest mining projects, including Osisko Mining's Malartic project, Detour Gold's Detour Lake project and Goldcorp's Elenore project.

The new vice president spent eight years with Falconbridge working on various capital projects including Raglan, Kidd Creek and the Horne Smelter. Brousseau obtained his engineering degree from École Polytechnique de Montréal, holds professional engineer registration in Quebec and Ontario, and earned an MBA from Université du Québec.

His appointment positions Canadian Copper to advance development of the integrated Murray Brook and Caribou project under experienced technical leadership.

More information is available at www.CanadianCopper.com