Carube Announces Grant of Stock Options

Toronto, Ontario--(Newsfile Corp. - August 28, 2018) - Carube Copper Corp. (TSXV: CUC) ("Carube" or the "Company") announces that pursuant to the Company's stock option plan approved by shareholders at its Annual General and Special Meeting held on May 24, 2018, a total of four million incentive stock options have been granted to its President and Chief Executive Officer, Mr. Stephen Hughes. Mr. Hughes was appointed to the position on August 1, 2018 and the board approved a grant of the options subject to terms established in the employment agreement being finalized.

Mr. Hughes has been granted an aggregate of 4 million stock options which expire five years from the date of grant. The exercise price of the options ranges from $0.10 per share to $0.25 per share, with the initial million options having an exercise price of $0.10 per share and the exercise price of each subsequent tranche of 1 million increasing by $0.05 per share. Options vest as to 2 million on the anniversary of Mr. Hughes commencement of employment with the balance vesting on the second anniversary of the commencement of employment.

About Carube Copper Corp.

Carube is focused on creating substantive long-term value for its shareholders through the discovery and development of world class copper and gold deposits. The Company currently holds a 100% interest in 11 licenses covering 535 square kilometres of highly prospective copper-gold terrain in Jamaica, and a 100% interest in three porphyry copper-gold properties covering 492 square kilometres within the Cascade Magmatic Arc in southwestern British Columbia. Carube is actively searching for additional high potential copper and gold properties to add to its portfolio.

Stephen Hughes, President and CEO • +1 (647) 517-4574 • [email protected]
Jeff Ackert, Vice President, Business Development • +1 (647) 957-2249 • [email protected]
www.carubecopper.com

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

DISCLAIMER & FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".

IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf