Vancouver, British Columbia–(Newsfile Corp. – November 4, 2024) – CopperEx Resources Corp. (TSXV: CUEX) (the “Business” Or “CopperEx“) is pleased to announce that it has closed its previously announced non-brokered private placement financing on October 14, 2024 (the “Private placement“).

The Company raised a total of $545,000 with the issuance of 2,725,000 units (“Units“). Each unit was issued at a price per unit of $0.20 and is composed of one common share in the capital of the Company (“).Common stock“) and one-half of one common share purchase warrant. Each whole warrant (one “Unit Purchase Order“) giving the holder the right to acquire one additional common share for a period of 24 months at the exercise price of $0.30 per unit subscription warrant.

Proceeds from the sale of the private placement will be used to finance exploration activities at the Company’s projects in Chile and for general working capital.

The Company paid a total of $9,150 in cash finder’s fees in connection with the private placement. All securities issued in the Private Placement are subject to a restricted resale period of four (4) months and one day expiring on March 2, 2025 in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

In connection with the private placement, a director and an officer of the Company participated in the private placement and purchased a total of 1,000,000 units. The issuance of units in favor of the director and officer of the Company constitutes a “related party transaction” within the meaning of the Multilateral Instrument – Protection of minority security holders in securities transactions (“MI 61-101“). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the shares issued nor the consideration paid by such person exceeds 25% of the market capitalization of the Company.

Disclosure of early warning report

David Prins, President, Chief Executive Officer and Director of the Company, acquired 1,000,000 Units in a private placement consisting of 1,000,000 Common Shares and 500,000 Unit Warrants . Immediately prior to the Private Placement, Mr. Prins had direct or indirect ownership or control of 4,435,757 common shares of the Issuer, representing approximately 15.24% of the issued and outstanding common shares of the Issuer, 1,325,794 incentive stock options (“Possibilities“), and 451,449 ordinary share subscription warrants (“Warrants“). In connection with the Private Placement, Mr. Prins acquired 1,000,000 Units, consisting of 1,000,000 Common Shares and 500,000 Unit Warrants (the Unit Warrants, as well as options and warrants, the “Convertible securities“). Following the closing of the private placement, Mr. Prins holds, directly or indirectly, ownership or control of 5,435,757 common shares of the Company, representing approximately 17.08% of the issued and outstanding common shares of the Company. Company and 2,277,243 convertible securities Assuming Upon exercise of the convertible securities, the acquirer would own 7,712,990 shares of the Company’s common stock, representing approximately 22.61% of the Company’s then issued and outstanding common stock. .

The securities of the Company were acquired by Mr. Prins for investment purposes. Mr. Prins may acquire or dispose of additional securities of the Company in the future through the market, privately or otherwise, depending on circumstances or market conditions.

In accordance with the requirements of National Regulation 62-103 – TThe Early Warning System and Issues Related to Takeover Bids and Insider Reporting and applicable Canadian securities legislation, an early warning report will be filed by Mr. Prins. A copy of the Early Warning Report will be available under the Company’s SEDAR+ profile at www.sedarplus.ca and available upon request from David Prins c/o CopperEx Resources Corporation, Suite 1020 – 800 West Pender St., Vancouver, BC, V6C 2V6.

This press release does not constitute an offer to sell or the solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “WE Securities Act“) or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and the state securities laws. applicable state or an exemption from such registration is available.

Additional information about CopperEx and its projects can be found on the company’s website at copperexcorp.com, or by email. This email address is protected from spambots. You must enable Javascript to view it..

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On behalf of the board of directors
CopperEx Resources Corp.

Dave Prins
President and CEO

About CopperEx Resources Corp.

CopperEx is a copper and gold focused exploration company with three porphyry and porphyry-related gold and copper projects located in Chile and Peru in established mineral belts near producing mines. The Company’s flagship property, Exploradora Norte, located in northern Chile, has several high-quality drill-ready targets. HAS Exploradora Norte, CopperEx has the opportunity to earn 65% and a preferred option for an additional 35% with no royalty attached.

In addition to the Exploradora Norte property, CopperEx owns 100% of its Buggy Kio (Northern Chile) and La Rica (province of Apurimac Peru), also without royalties attached. The CopperEx Exploradora Norte property is immediately adjacent (to the north and east) of Codelco Exploradora Property which hosts a resource estimated by Codelco to contain 190-280 Mt @ 0.40% Cu.^(1,2)

Strategic alliances.

CopperEx is a member of the Discovery Group based in Vancouver, Canada. For more information, please visit: www.discoverygroup.ca.

Cautionary note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Forward-Looking Statement (Safe Harbor Statement): This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “goal”, “may”, “will”, “project”, “should” , “predict”, “potential” and similar expressions are intended to identify forward-looking statements. This press release contains, among other things, forward-looking statements regarding the Company’s exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Because forward-looking statements relate to future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, as well as assumptions and risks regarding the receipt of regulatory and shareholder approvals.