Copper Lake Resources Announces Share Consolidation

About this update from Copper Lake Resources Ltd.

Toronto, Ontario--(Newsfile Corp. - May 6, 2026) - Copper Lake Resources Ltd. (TSXV: CPL) (FSE: W0I) ("Copper Lake" or the "Company") announces that the Company intends to consolidate the common shares in the capital of the Company (the "Common Shares") on the basis of twenty (20) pre-consolidation Common Shares for every one (1) post-consolidation Common Share (the "Consolidation") effective as of Friday May 8, 2026 (the "Effective Date"). The Company currently has 271,003,770 Common Shares issued and outstanding, and following the Consolidation, the Company will have approximately 13,550,188 Common Shares issued and outstanding, prior to rounding for fractional shares. The Company's outstanding options (19,500,000) and warrants (15,896,000) will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices. The Consolidation was approved by the shareholders on June 12, 2025 and the Board of Directors of the Company (the "Board") in accordance with the Articles of the Company, but remains subject to the approval of the TSX Venture Exchange (the "Exchange"). The shareholder approval expires on June 12, 2026. The Company name and stock symbol remain unchanged. The new CUSIP number for the post-consolidation shares will be 21750Y202. Upon completion of the consolidation and Exchange approval, a "Letter of Transmittal" will be mailed by the Company's transfer agent (Odyssey Trust Company) to shareholders holding physical share certificates, advising that the consolidation has taken effect and shareholders should surrender their existing (pre-consolidation) common share certificates, for new (post-consolidation) common share certificates. No fractional common shares of the Company shall be issued in connection with the consolidation and the number of common shares to be received by a Shareholder shall be rounded down to the nearest whole number. ON BEHALF OF THE BOARD OF COPPER LAKE RESOURCES LTD.Terry MacDonald, Chief Executive OfficerPhone: 416-561-3626 ABOUT COPPER LAKE RESOURCES Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north o...

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