Company Announcements

VANCOUVER, BC , May 20, 2026 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) today reports assay results from directional daughter holes MD-061 and MD-062 at its flagship Mocoa copper-molybdenum porphyry project in Putumayo, Colombia. Mocoa is a Jurassic-age porphyry Cu–Mo deposit where drilling to date has delineated continuous copper and molybdenum mineralization from surface to depths exceeding 1,100 vertical metres. Hole MD-062 returned 258 metres of 0.70% CuEq (0.38% Cu and 0.06% Mo), above the current MRE¹ average of 0.51% CuEq* (0.31% Cu and 0.039% Mo), confirming the continuity and grade of higher-grade domains within the resource model ahead of PEA-level studies. Hole MD-061, drilled in an area previously modelled as waste below the current conceptual pit design, returned 291 metres of 0.50% CuEq* (0.27% Cu and 0.044% Mo), extending mineralization southward into the corridor between Mocoa and La Estrella where the Company's third drill rig is now conducting maiden drilling from the La Estrella end.

• MD-062 intersected 411 metres of 0.56% CuEq* (0.31% Cu and 0.05% Mo) from the kick-off point, including 258 metres of 0.70% CuEq* (0.38% Cu and 0.06% Mo) from 356 metres depth (Table 1), above the current MRE¹ average of 0.51% CuEq* (0.31% Cu and 0.039% Mo), confirming the continuity and predictability of higher-grade domains within the current resource model.
• MD-061 intersected 291 metres of 0.50% CuEq* (0.27% Cu and 0.044% Mo) from 557 metres depth within 707 metres of continuous mineralization from the kick-off point (Table 1), in an area previously modelled as waste below the current conceptual pit design, advancing the southern expansion vector into the Mocoa–La Estrella corridor.
• The Company's third drill rig is conducting maiden drilling at La Estrella, testing the target from the southern end of the corridor.
• Three drill rigs operating on site at full capacity. 

"These results advance both ends of the same story. MD-062 confirms that the high-grade domains we modelled are exactly where we expected them, that gives us confidence in the model as we move toward the PEA. MD-061 takes us beyond the current resource boundary and into the corridor toward the La Estrella, where our third rig is now drilling from the other end. We are building a picture hole by hole, and it is coming into focus." – Edwin Naranjo Sierra, Vice-President of Exploration.

MD-061

Hole MD-061 was drilled as a directional daughter hole from mother hole MD-056 to continue evaluating the southern expansion potential of the Mocoa system below the current conceptual pit design. The hole forms part of a systematic follow-up to previously reported holes MD-054, MD-056 and MD-058 (refer to news releases dated January 29, 2026, March 16, 2026 and April 14, 2026, respectively), which progressively identified stronger mineralization along the southern margin of the current MRE¹ footprint. Historically, this area was only sparsely tested by shallow and sub-vertical drilling completed by Ingeominas and the United Nations, leaving the deeper extent and continuity of the system largely unconstrained.

Table 1 – Assay results for drill holes MD-061 and MD-062. Directional daughter hole MD-061 was drilled from mother hole MD-056. Directional daughter hole MD-062 was drilled from mother hole MD-057. Kick-off depth means starting point of each daughter hole. *Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 5.278 × Mo (%), utilizing metal prices of Cu - US$4.00/lb and Mo - US$20.00/lb and metal recoveries of 90% Cu and 95% Mo. Grades are uncut. Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.

Figure 1. Plan view of the exploration targets and the Mocoa porphyry Cu-Mo deposit. Black dots represent drill pads. The figure also shows the position of the Company's third drill rig, currently drilling (MD-065) northwest from the La Estrella target area toward the southern extent of the Mocoa–La Estrella corridor.

MD-061 returned broad and continuous intervals of copper and molybdenum mineralization below the current conceptual pit design, including 707-metres of 0.37% CuEq (0.20% Cu and 0.032% Mo) starting from kick-off point, with grades increasing at depth with 291-metres of 0.50% CuEq (0.27% Cu and 0.044% Mo) starting from 557m (Figure 3). These results continue to demonstrate that mineralization along the southern margin remains open and is strengthening toward the La Estrella target area immediately south of the current MRE footprint, while potentially contributing additional mineralized material currently outside the existing resource model. This evolving trend is increasingly supporting the interpretation of a broader mineralized corridor linking the southern extent of Mocoa with the emerging La Estrella target, where drilling is currently underway with the Company's third drill rig. Drilling is now advancing toward the same corridor from both directions, while MD-061 continues to push mineralization southward from the Mocoa deposit, the Company's third drill rig is actively drilling northwest from La Estrella, testing the emerging connection between both systems.

Figure 2. Plan view of holes MD-061 and MD-062 reported in this release and the position of the cross-section shown in Figures 3 and 5. The distribution of drilling illustrates the emerging corridor between the Mocoa deposit and the La Estrella target, with MD-061 extending Cu-Mo mineralization southward from Mocoa while the Company's third drill rig advances drilling northwest from La Estrella. MD-062 continues to validate the continuity and predictability of higher-grade domains within the MRE¹ footprint. Kick-off (KO) points for directional daughter holes are indicated, illustrating the use of a single drill platform to test multiple targets. *Collar for daughter hole MD-061 is 313689E, 136976N and 1,514 m.a.s.l. Collar for daughter hole MD-062 is 314014E, 137979N and 1,720 m.a.s.l. Coordinates are UTM system, zone 18N and WGS84 projection. For MD-061: azimuth of 15-degrees and dipping 55-degrees. For MD-062: azimuth of 296-degrees and dipping 50-degrees.

Figure 3. Figure 3. Cross-section along hole MD-061 (section width of 100 metres), showing the 2026 MRE block model and the Cu and Mo grades intercepted. Results to date continue to demonstrate Cu and Mo mineralization below the current conceptual pit design and within areas previously modelled as waste, supporting the potential for resource expansion along the southern margin of the system toward the La Estrella corridor. Kick-off (KO) points for directional daughter holes are indicated.

Figure 4. Representative core photographs from holes MD-061 (Fig. 4A - c) and MD-062 (Fig. 4D - F) illustrating porphyry-style mineralization and associated hydrothermal alteration. Images highlight the presence of well-developed sulfide mineralization and vein-hosted copper and molybdenum, including higher-grade core zones intersected in directional daughter holes.

Hole MD-062

Drill hole MD-062 was completed as a directional daughter hole from previously reported mother hole MD-057 (refer to news release dated March 16, 2026), as part of the Company's ongoing infill drilling and resource conversion strategy within the current MRE¹ footprint. Similar to previously reported daughter holes MD-059 and MD-060 (refer to news release dated April 14, 2026), the hole targeted areas characterized by wider historical drill spacing (Figure 5) with the objective of increasing geological confidence and validating the continuity of modeled higher-grade domains ahead of future PEA-level studies.

Figure 5. Cross-section showing mother hole MD-057 and directional daughter hole MD-062, illustrating the geometry of targeted infill drilling within the MRE¹ footprint. High-grade intervals intersected in MD-062 continue to validate the continuity, predictability, and spatial distribution of higher-grade domains within the current resource model, supporting increased geological confidence ahead of future PEA-level studies. The kick-off (KO) point is shown, highlighting the ability to efficiently test multiple portions of the system from a single drill platform.

The directional drilling approach continues to demonstrate significant operational advantages by allowing multiple targets to be efficiently tested from a single platform while reducing surface disturbance and improving geological control. MD-062 successfully intersected long and continuous intervals of copper and molybdenum porphyry mineralization typical of the Mocoa system (Figure 4C - F), returning 411-metres of 0.56% CuEq (0.31% Cu and 0.05% Mo), including 258-metres of 0.70% CuEq (0.38% Cu and 0.06% Mo). The results are consistent with, and locally exceed, grades predicted by the current MRE block model¹, further validating the Company's geological interpretation and the spatial predictability of higher-grade domains within the deposit. Importantly, these results continue to demonstrate that the current resource model is effectively predicting both grade distribution and mineralized continuity in areas of tighter drill spacing, supporting the ongoing advancement of Mocoa toward future engineering and PEA-level evaluation.

Qualified Person and Technical Notes

Edwin Naranjo Sierra, Vice-President of Exploration for Copper Giant, is the designated Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and approved the technical information in this news release. Mr. Naranjo holds an MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo is not independent of the Company.

Copper Giant operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. For surface samples, 2.5kg of material is taken on each outcrop using chip or channel techniques. Samples are taken by well-trained field helpers supervised by the geologist of the company. Core diameter is a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged in maximum 2-metre intervals, stopping in geological boundaries. Samples were bagged, tagged and packaged for shipment by truck from Copper Giant's core logging facilities in Mocoa, Colombia to the ActLabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. Samples are processed in the Medellin facilities where they are analyzed for copper, gold, silver, molybdenum, zinc and lead by 4-Acid digest Atomic Absorption (AA) analysis. The sample pulps are air freighted from Medellin to the ActLabs certified laboratory in Guadalajara, Mexico, where they are analyzed for a suite of 57 elements using 4-Acid digest and ICP-MS. In order to monitor the ongoing quality of assay data and the database, Copper Giant has implemented QA/QC protocols which include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis) randomly inserted into the sampling sequence. QA/QC program also includes ongoing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that all or any part of the Inferred Mineral Resources will be upgraded to an Indicated or Measured category.

Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 5.278 × Mo (%), utilizing metal prices of Cu - US$4.00/lb and Mo - US$20.00/lb and metal recoveries of 90% Cu and 95% Mo.

¹ Notes on the MRE of the project

1. The MRE was completed by Kevin Hon, B.Sc., P.Geo., Senior Resource Geologist, and Warren Black, M.Sc., P.Geo., Senior Consultant: Mineral Resources and Geostatistics, both of APEX. Mr. Hon and Mr. Black are independent Qualified Persons, as defined by NI 43-101, and are responsible for the completion of the Mineral Resource Estimate, with an effective date of November 18, 2025. Michael Dufresne, M.Sc., P.Geo., President & CEO of APEX, completed a peer review of the estimate.
2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
4. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
5. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
6. Economic assumptions used include US$4.00/lb Cu, US$20.00/lb Mo, process recoveries of 90% for Cu and 95% for Mo, a US$10/t processing cost, G&A costs of US$1.00/t, and a 3% NSR royalty
7. CuEq* values are calculated using a Cu-to-Mo value ratio of 1:5.278, incorporating both metal prices and metallurgical recoveries.
8. The constraining pit optimization parameters include a US$2.5/t mining cost for both mineralized and waste material and 45° slopes. Pit-constrained Mineral Resources are reported at a cutoff of 0.25% CuEq*.

About the Mocoa Porphyry System

The Mocoa Project is located in Colombia'sDepartment of Putumayo, approximately 10 kilometres from the town of Mocoa in the country's south. Copper Giant controls more than 128,300 Ha of district-scale tenure through granted titles and applications, covering a significant portion of the Jurassic porphyry belt--an underexplored and highly prospective metallogenic corridor within the northern Andes.

Mocoa was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government. Follow-up programs between 1978 and 1983 included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Subsequent drilling by B2Gold in 2008 and 2012 refined the geological interpretation and confirmed the large scale of the system.

The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics of the Central Cordillera, a 30-kilometre-wide tectonic belt that extends into Ecuador and also contains major porphyry systems such as Mirador, Warintza, San Carlos, and Panantza. Mocoa exhibits classic porphyry-style zonation with a potassic core surrounded by sericite and propylitic alteration. Mineralization consists principally of disseminated chalcopyrite and molybdenite, accompanied locally by bornite and chalcocite, and is associated with stockwork veining and hydrothermal breccias.

A distinguishing geological feature of Mocoa is the presence of a fertile magmatic window spanning roughly ten million years, a prolonged and unusually productive interval of magma generation and evolution that is not commonly observed in other Jurassic porphyry systems within the same belt. This extended fertile period provides a compelling explanation for the system's large metal endowment, broad alteration footprint, and overlapping intrusive and hydrothermal events.

The deposit demonstrates more than 1,100 metres of vertical continuity, with multiple intrusive phases, brecciation episodes, and vein generations reflecting a dynamic and long-lived magmatic–hydrothermal evolution, likely influenced by more than one porphyry center. Mocoa remains open in all directions, and several satellite targets across the broader land package support the interpretation of a district-scale mineralized system.

Mocoa's Mineral Resource Estimate¹ comprises Inferred resources of 12.7 billion pounds (Blbs) copper-equivalent (CuEq*) at an average grade of 0.51% CuEq*, including 7.7 Blbs of copper at 0.31% Cu and 1.0 Blbs of molybdenum at 0.039% Mo, within 1,120 million tonnes (Mt).

¹ For further information refer to NI 43-101 Technical Report, entitled "Technical Report and Updated Mineral Resource Estimate for The Mocoa Project, Putumayo Department, Colombia", dated January 8, 2026, prepared by Michael Dufresne (P.Geo, P.Geol, MSc), Warren Black (MSc, P.Geo), Kevin Hon (BSc, P.Geo) and Chester de Leon (P.Eng), with an effective date of December 23, 2025.

About Copper Giant

Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition--responsibly, efficiently, and with long-term positive impact.

The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction.

Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity--and the catalyst for the Company's name and evolution.

Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring values for all stakeholders and playing a meaningful role in the global energy transition.

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. 

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the assay results of drill holes MD-061 and MD-062, the outcome of the Company's current resource expansion strategy; the potential release and timing of future PEA-level studies; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Copper Giant does not assume any obligation to update any forward-looking statements.

SOURCE COPPER GIANT RESOURCES CORP.