Dec 16, 2024, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; OTCQB: IMIMF; FRA: 3MX) (“Interra” or the “Company”) is pleased to announce that it has acquired the Stellar Property (“Stellar”, or the “Property”), comprising mineral tenures that cover 5,389 hectares (“ha”) of prospective ground within the Bulkley Porphyry Belt in northern British Columbia, Canada (Figure 1).

Brian Thurston, President & CEO of Interra, comments: “Interra management believe that the Bulkley Porphyry Belt is underappreciated amongst British Columbia’s prodigious porphyry districts, and we are excited to now have three very promising properties within the belt. Relative to other porphyry districts the Bulkley Porphyry Belt, which includes Imperial Metals’ past producing Huckelberry Cu-Mo mine, boasts proximity to infrastructure, easy access, and subdued topography.  In other words, it is relatively easy and cost effective to explore. With today’s acquisition of the Stellar Property and the pending completion of the Stars Property acquisition, Interra has assembled a dominant land position in the belt with three properties covering 19,852 ha that will be owned or optioned by the Company. We are eagerly awaiting the 2025 exploration season when we plan to advance each of these exciting properties.”

Highlights of the Stellar Property:

• 5,389 ha of highly prospective ground within the Bulkley Porphyry Belt, including 10 British Columbia Minfile mineral showings (Figure 1).
• The Cassiopeia geophysical anomaly (Figure 1): a 2.5 km diameter circular magnetic anomaly with a classic porphyry-related pattern of a high magnetic intensity ring cored by a magnetic low. The anomaly was identified during a 2018 airborne geophysical survey in an area that has no record of previous or subsequent exploration.
• The Jewelry Box area (Figure 1): approximately 5 x 3 km area that is host to eight BC Minfile mineral showings associated with Hazelton Group volcanic and sedimentary rocks intruded by porphyritic stocks. Mineralization includes locally high-grade gold (“Au”) (nil – 42 grams per ton [“g/t”]), silver (“Ag”) (nil – 4,860 g/t) and copper (“Cu”) (nil – 36%) (Table 1). Interra considers this cluster of mineralized zones to be underexplored for porphyry Cu-Au potential.
• Historical exploration (ca. 1965 – 2021) including 1,223 metres (“m”) of diamond drilling in 8 drill holes, 3 induced polarization surveys (“IP”), and 2 high-resolution airborne magnetic surveys. Aurwest Resources Corp. conducted the most recent (2021) exploration on the property, with a $743,978 expenditure on extensive geochemical and IP surveying. The results of the surveys were interpreted to confirm porphyry Cu-Au potential on the Property.

Figure 1 Location and Claim Map of the Stellar and Stars Properties with Mineral Showings and Prospective Areas

The Stellar Property

The Stellar Property comprises 22 mineral tenures covering 5,388.66 ha within the Omineca Mining district of northern British Columbia, Canada.  It is contiguous with and located to the northeast of the Stars Property (Figure 1), which Interra has entered into a mineral claims purchase agreement to acquire a 100% interest in (see news release dated October 7, 2024). The southern portion of the Stellar Property can be accessed from the community of Huston via a network of logging roads and the northeastern portion of the property can be accessed via a maintained ATV trail. The community of Huston is approximately 25 kilometres (“km”) east of Stellar and Smithers is approximately 40 km to the north.

The Stellar Property is underlain by Hazelton Group volcanic and sedimentary rocks, which host at least two Cretaceous intrusive bodies and are cut by north-south oriented faults. Mineralization is best described in the Jewelry Box area where exploration predates the 1960’s when Phelps Dodge conducted extensive bulldozer trenching. The mineralization appears to be focused near the contacts between intrusive bodies and volcanic and sedimentary rock. It includes bornite, chalcopyrite, tetrahedrite, chalcocite, malachite and azurite in quartz veins and stringers, as well as in local disseminations or massive sulfide lenses.  High grade historical* rock sample results are in Table 1.

Table 1 High Grade Historical* Assay Results from the Jewelry Box Area

The Cassiopeia anomaly (Figure 1) is another high-priority exploration target on the property.  It consists of a 2.5 km diameter aeromagnetic “bullseye” porphyry style target over an area that has no record of surface exploration.

There are two other areas of exploration interest on the Stellar Property. On the southern portion of the property, the road accessible “Galena Zone” (Figure 1) comprises a 100 X 150 m area where soil and grab samples from sparse outcrops define a zone of Pb-Ag-Zn mineralization in carbonate rocks with grades that range from nil up to 11.6% lead (“Pb”), 68 g/t Ag and 0.5% zinc (“Zn”). The northwestern portion of the property contains two poorly described Cu-Pb-Zn mineral showings (Figure 1) associated with a syenite intrusion.

* Historical samples reported in this news release have not been verified by Interra. Except where noted, they are grab samples, which are selective in nature and may not be representative of a volume of rock.

Acquisition Terms

The acquisition of Stellar has been made pursuant to three separate transactions, specifically (i) 18 mineral claims totalling 5,256.79 ha (the “Stellar Claims”), which includes the Cassiopeia claims, previously staked by two arm’s-length individuals; (ii) three mineral claims comprising the Jewelry Box area of 91.19 ha (“Jewelry Box Claims”), previously staked by an arm’s-length individual; and (iii) the Sparkle claim comprising 37.68 ha (“Sparkle Claim”), previously staked by an arm’s-length individual.

In consideration for a 100% interest in the Stellar Claims, Interra will issue an aggregate of 5,000,000 transferable common share purchase warrants of the Company (the “Warrants”), whereby each Warrant will be exercisable at a price of $0.085 into a common share of the Company (“Share”) for a period of 60 months from the date of issuance. In addition, Interra will reimburse the holders of the Stellar Claims staking costs of approximately $8,000.

In consideration for a 100% interest in the Jewelry Box Claims and the Sparkle Claim, Interra will issue an aggregate of 117,647 Shares representing consideration of $10,000 based on a deemed price of $0.085 per Share to each present holder of such claims. In addition, the Company will grant the present holder of the Sparkle Claim a 1.0% net smelter returns royalty (the “Royalty”) on all minerals produced from the Sparkle Claim or any portion thereof. The Company may purchase 0.5% of the Royalty from the present holder of the Sparkle Claim to reduce the rate of the Royalty from 1.0% to 0.5% by payment of $1,000,000.

All securities to be issued in connection with the transactions noted above shall be subject to a statutory hold period expiring four months and one date from the date of issuance in accordance with applicable securities legislation. Completion of the acquisition of the claims described herein remains subject to customary conditions for transactions of this nature and the acceptance of the acquisitions by the Canadian Securities Exchange.

Advisor Appointment

Interra appoints James Dixon as Board Advisor.  Mr. Dixon began his career in petroleum reservoir engineering as a research technologist in the 1980’s. He then moved onto engineering operations in the 1990’s. He has twenty-four years of prospecting experience in the Bulkley - Morice region of British Columbia where his family has been involved in mineral exploration for over a century. This pioneering work included the Sibola Mine, the Owen lake Mine, and more recently; the discovery of a 110 million tonne mineral resource. His family also played a role in the development of the area in the form of saw milling/planning and fur trading with First Nations. Mr. Dixon’s generational experience both in mining and working directly with First Nations will greatly benefit Interra as it strives to reinforce strong community involvement and sustainable exploration practices in the Houston area where Mr. Dixon and his family have forged strong community ties.

Stock Options

The Company has granted stock options to a consultant of the Company to acquire an aggregate of 150,000 common shares in the capital of the Company, pursuant to the Company’s Equity Incentive Plan. The stock options are each convertible into a common share of the Company at an exercise price of $0.12 until December 12, 2029, and are subject to vesting over a period of 18 months.

Qualified Person

Tony Barresi, Ph.D., P.Geo., the Company’s technical advisor and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.

About Interra Copper Corp.

Interra Copper Corp. is focused on building shareholder value through the exploration and development of its two early-stage copper exploration assets located in British Columbia, Canada.

The Thane Project located in the Quesnel Terrane of Northern BC spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization. The Company has an earn-in option up to 80% and joint-venture agreement on the Rip Project located in Stikine Terrane in a prolific belt of Late Cretaceous (Bulkley plutonic suite), known for copper-molybdenum deposits. Interra has staked 5,932 ha of ground adjoining the Stars Property that includes the ‘Big Dipper’ magnetic anomaly, which is interpreted to be a continuation of the magnetic anomaly that defines the Stars porphyry project within the Bulkley Porphyry Belt.

Interra’s leadership and advisory teams are comprised of senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Interra is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "IMCX". For more information on Interra, please visit the Company’s website at www.interracoppercorp.com.

On behalf of the Board of Interra Copper Corp.

Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829

For further information contact:

Kelly Abbott
Investor Relations
moc.procreppocarretni@ofni

Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, relating to the Rip Copper Project, including the Phase One drilling program, the exploration potential thereof, and the expected satisfaction of the Company’s 2024 and 2025 earn-in obligations are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Interra does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.