CopperBank Continues to Intercept Broad Intervals of Significant Copper Mineralization at Pyramid

VANCOUVER, BC / ACCESSWIRE / October 30, 2017 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE: CBK) (OTC PINK: CPPKF) is pleased to report results from the fifth and sixth holes from its thirteen diamond drill hole (DDH) summer 2017 program on its 100% controlled Pyramid Copper Project in Alaska. Highlights include:

• DDH 17PY035 intersected a total of 251 meters at a weighted average grade of 0.41% copper over two intervals; a near surface intercept of 137 meters of 0.45% copper (0.60% CuEq), and a second interval of 114 meters of 0.37 % copper (0.45% CuEq).
• DDH 17PY036 intersected 179.5 meters of 0.37% copper (0.52 % CuEq), confirming the continuity and width of the North Zone.
• As previously observed, no deleterious chemical elements such as arsenic, antimony, or selenium are present in significant levels.

The 2017 drilling program, comprising 3,690 meters in thirteen diamond drill holes, was designed to verify the extensions of known mineralization within the deposit and to validate the existing block model established by the historical resource estimate (SRK, June 2013). Detailed maps and cross sections can be found here. Previous diamond drill holes were reported in press releases dated October 5 and 23, 2017.

CopperBank Executive Chairman, Gianni Kovacevic, commented, "We're very pleased with the ongoing drilling success at Pyramid, as we continue to intersect broad intervals of copper mineralization. Importantly, numerous high-grade intercepts received to date from the 2017 program fall outside of the historical resource envelope, which should help further our goal of expanding upon the historic resource estimate at Pyramid. Six holes have now been reported, representing phase one of our 2017 drilling program, and we look forward to reporting the results of our final seven holes that test open areas in the Central and West Zones in due course."

Drill Hole 17PY035:

Located in the Main Zone, DDH 17PY035 was drilled to a depth of 349.9 meters and confirmed the existence of significant copper mineralization associated with the main quartz diorite porphyry intrusion as reported in DDH 11PY016 located 108 meters to the West. Two significant intervals of mineralization were intersected, separated by a 26 meter fault zone of clay altered quartz diorite porphyry. Mineralization is dominantly chalcopyrite with chalcocite, disseminated throughout the stratigraphic sequence. Detailed results are included in the table below. The results from 17PY035 and previously reported drill holes confirm a minimum length of 800 meters for the Main Zone. Significant amounts of high grade mineralization intersected to date in 2017 falls outside the envelope of the historical resource model.

Note: The copper equivalent (CuEq) values in all tables in this press release were calculated based on estimated prices of US$2.75/lb of copper, US$1200/oz of gold and US$7.25/lb of molybdenum. No metallurgical tests were done. Metal recovery is unknown and was not taken into account. True width of intervals is yet to be defined.

Drill Hole 17PY036:

Located in the North Zone between historical holes DDH 11PY004 and 10PY001, DDH 17PY036 was drilled to a depth of 250.85 meters. Hornfels intruded by several porphyry dykes hosts chalcopyrite and chalcocite disseminations and composes the mineralized interval. The weighted average grade of the interval returns 0.37% Cu over 179.5 meters. The drill hole bottomed in a quartz biotite magnetic diorite.

Quality Control:

All core samples collected during the 2017 drilling program are pulverized at the ALS Fairbanks facilities then pulps are sent to ALS Minerals Laboratories in Reno, NV. All pulps are analyzed by a 4 acid multi-element analysis for 61 elements by ICP-AES method and assayed for Au by standard atomic absorption spectrometry (Au-AA23) following the fusion by fire-assay of a 30 gram sample. Samples returning copper values higher than 1% are re-analyzed in Vancouver by ICP-AES following a four-acid digestion and those exceeding 1 g/t gold by gravimetric finish (Au-GRA21). Standards, blanks and duplicates were inserted every 20 samples consistent with industry best practices then revised by a qualified person using a Quality Assurance/Quality Control program before calculating the intervals. A series of samples from hole 17PY-035 were sent back for verification following the detection of a possible contamination. The new analyses were used for the calculation of the mineralized intervals reported in this release.

About Pyramid:

The Pyramid project is located on private property with the subsurface controlled by The Aleut Corporation, an Alaska Native-owned corporation. Pyramid is a porphyry copper deposit containing a historical inferred mineral resource estimate of 122 million tonnes at 0.41% copper, 0.02% molybdenum, and 0.10 g/t gold (SRK, 2013) applying a 0.4% copper equivalent cut-off, divided into three main recognized zones: Main, North and West. The mineralization is related to a multi-phased calk-alkaline intrusion, intruding sediments of Tertiary Age. The porphyry system is of a minimal extent of 1.5 square kilometres, displays a leached cap, phyllic, propyllitic and potassic alteration analogous to the other copper deposits of the circum-Pacific Belt. The observed mineralization consists mainly in disseminations of chalcocite, chalcopyrite and local molybdenite and sulphide veinlets. Bornite, malachite and chrysocolla are also reported as accessory minerals.

This press release was prepared by Brigitte Dejou, P.Eng and a Qualified Person as defined by NI 43-101.

For more information on CopperBank Resources visit our website at www.copperbankcorp.com.

Contact Gianni Kovacevic, President and Executive Chairman of CopperBank, at:

Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: [email protected]
Website: www.copperbankcorp.com

CopperBank is a Canadian exploration mining company focused on energy related metal exploration in the United States of America.

The Company trades on the Canadian Securities Exchange - CSE under the symbol "CBK."

Advisory Regarding Forward-Looking Statements:

Certain information in this release constitutes forward looking statements or information ("forward-looking statements") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," or "be achieved," or the negative of these terms or comparable terminology. Examples of forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's ongoing review of its existing portfolio, the involvement of CopperBank in any potential divestiture, spin-out, partnership or other transactions involving the Company's portfolio assets, and the ability of the Company to complete any such transactions, the ability of CopperBank to enter into transactions that will ultimately enhance shareholder value, and potential future work or activities in respect of the Pyramid project or the Contact project. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to, the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.

SOURCE: CopperBank Resources Corp.