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Source: https://www.northisle.ca/wp-content/uploads/2026/08/20260806-NCX-Mineral-Resource-Update.pdf
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August 6, 2026
TSXV: NCX
OTCQX: NTCPF
Northisle Announces Significant Increase to North Island Resource Estimate
Contained Metal in Indicated Resources Increased to 10.1 billion lbs Cu Eq. or 16.2 million oz Au Eq.
All dollar figures are C$ unless otherwise stated
Highlights:
• Increased Indicated Resources by 330 million tonnes (+36%), adding 685 million lbs Cu (+22%) and
1.8 million oz Au (+26%) in contained metal
• 60% increase in contained Cu Eq. metal in Indicated Resources
• Exceeded resource objectives at West Goodspeed
o Addition of 113.1 million tonnes of Indicated Resources containing 873 million lbs Cu Eq. or 1.2
million oz Au Eq.
• Successful resource conversion at Northwest Expo and expansion of the resource along strike, which
remains open to the northwest
o Contained Au in Indicated Resources increased 81% to 1.7 million oz
o Contained Cu in Indicated Resources increased 84% to 198 million lbs
• 30% increase in contained Cu Eq. metal in Indicated Resources at Red Dog with connection between
Red Dog and West Goodspeed to be investigated with additional drilling in 2026
• Additional critical minerals exposure with contained molybdenum in Indicated Resources increasing
by 46% and contained rhenium in Indicated Resources increasing by 43%
See below for further details
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: NCX, OTCQX: NTCPF) (“Northisle” or the
“Company”) is pleased to announce the release of an integrated mineral resource estimate for its 100%
owned North Island Project (the “2026 Resource Estimate”), which integrates the Northwest Expo, Red
Dog, West Goodspeed, and Hushamu deposits. The 2026 Resource Estimate will be used for the
development of a pre-feasibility study (“PFS”) on the North Island Project, which remains on target for
completion in Q1 2027.
Alex Davidson, Chairman, noted “This integrated resource update represents another important milestone
for Northisle and is a critical step towards the completion of the North Island Project PFS. With 10.1 billion
pounds of copper equivalent or 16.2 million ounces of gold equivalent contained in Indicated Resources,
the 2026 Resource Estimate is finally beginning to tell the story of the district-scale potential of the North
Island Project.”
Sam Lee, President & CEO, stated “Over the past 18 months, we have either achieved or exceeded each of
the goals we set in respect to resource growth and conversion. At West Goodspeed, we added over 113
million tonnes of Indicated Resources with 873 million lbs Cu Eq., or 1.2 million oz Au Eq. in contained
metal. At Northwest Expo, we successfully converted Inferred material, increasing Indicated tonnage by
Northisle Copper and Gold Inc. | 520 – 1050 West Pender St. | Vancouver, BC | V6E 3S7
www.northisle.ca | info@northisle.ca
133%, and expanded the resource along strike. Significantly, at Red Dog, we increased contained copper
equivalent metal in Indicated Resources by 30% and plan to investigate the connection between Red Dog
and West Goodspeed with additional drilling in 2026. We additionally increased our exposure to critical
minerals beyond copper, adding 68 million lbs Mo and 362,000 lbs Re in Indicated Resources. These
results, in addition to improved commodity prices, have driven meaningful resource growth and provide a
solid foundation for the North Island Project PFS, which remains on target for completion in Q1 2027.”
The 2026 Resource Estimate contains an Indicated Resource of 1.2 billion tonnes grading 0.14% Cu, 0.22
g/t Au, 79.5 ppm Mo and 0.44 ppm Re for total contained metal of 10.1 billion lbs copper equivalent (“Cu
Eq.”) or 16.2 million oz gold equivalent (“Au Eq.”) (recovery adjusted), plus an Inferred Resource of 260
million tonnes grading 0.12% Cu, 0.15 g/t Au, 62.0 ppm Mo, and 0.37 ppm Re for total contained metal of
1.5 billion lbs Cu Eq. or 2.6 million oz Au Eq. (recovery adjusted), at an $11.00/tonne NSR cut-oƯ.
Additionally, the 2026 Resource Estimate describes a shallow higher-grade portion of the Hushamu
deposit (the “Hushamu Shallow Higher-Grade Core”), which is expected to be included in the first
pushback to be extracted from the Hushamu deposit. In aggregate, the deposits comprising the Northwest
Corridor, including Northwest Expo, Red Dog, and West Goodspeed, plus the Hushamu Shallow Higher-
Grade Core, contain an Indicated Resource of 405 million tonnes grading 0.50% Cu Eq. or 0.46 g/t Au Eq.
for total Indicated contained metal of 4.5 billion lbs Cu Eq. or 6.0 million oz Au Eq.
The 2026 Resource Estimate has an eƯective date of July 31, 2026, and is summarized in Table 1 below by
deposit. The 2026 Resource Estimate was prepared by Sue Bird, P.Eng. of Moose Mountain Technical
Services (“MMTS”) who is independent of Northisle. Metallurgical test work which is referenced in the
Design Basis (as defined below) was completed under the supervision of Peter Mehrfert, P.Eng. of Ausenco
Engineering Canada ULC (“Ausenco”). A technical report (the “Technical Report”) prepared in accordance
with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed
on the Company’s website and SEDAR+ within 45 days of the date of this press release.
Key assumptions reflected in the 2026 Resource Estimate are detailed below for each deposit and will be
further described in the Technical Report. With the release of the 2026 Resource Estimate, the Company’s
previous technical reports, including the 2025 North Island Project Preliminary Economic Assessment
dated February 12, 2025, are no longer current and should not be relied upon.
The $11.00/tonne NSR cut-oƯ was selected as having reasonable prospects of eventual economic
extraction as this value covers preliminary estimated Phase 2 processing and G&A costs as detailed in the
Design Basis below. The economic assumptions presented may change during the completion of the
ongoing North Island Project PFS.
Northisle Copper and Gold Inc. | 520 – 1050 West Pender St. | Vancouver, BC | V6E 3S7
www.northisle.ca | info@northisle.ca
Table 1: 2026 Integrated North Island Project Resource Estimate ($11.00 NSR cut-oƯ)
Grade Contained Metal
Tonnes Cu Au Mo Re Cu Eq. Au Eq. Cu Au Mo Re Cu Eq. Au Eq. NSR
(000 T) (%) (g/t) (ppm) (ppm) (%) (g/t) (mm lbs) (000s oz) (mm lbs) (000 lbs) (mm lbs) (000s oz) ($/t)
Indicated
Northwest
105,156 0.09 0.50 89.2 0.35 0.79 0.58 198 1,690 21 81 1,823 1,959 77.46
Expo
Red Dog 90,463 0.19 0.22 32.6 0.20 0.42 0.41 379 627 7 40 845 1,181 48.51
West
113,070 0.16 0.16 61.2 0.40 0.35 0.32 397 573 15 99 873 1,166 35.14
Goodspeed
Hushamu 927,672 0.14 0.20 85.2 0.48 0.32 0.40 2,818 5,825 174 988 6,604 11,862 31.51
Total
1,236,361 0.14 0.22 79.5 0.44 0.37 0.41 3,793 8,715 217 1,209 10,145 16,168 36.99
Indicated
Inferred
Northwest
7,395 0.04 0.26 69.7 0.28 0.44 0.30 7 62 1 5 72 72 40.45
Expo
Red Dog 3,421 0.21 0.14 31.6 0.22 0.37 0.36 16 16 0 2 28 39 42.43
West
38,991 0.13 0.13 52.3 0.38 0.28 0.26 111 157 4 32 243 323 28.24
Goodspeed
Hushamu 210,433 0.12 0.14 64.0 0.38 0.25 0.32 545 979 30 176 1,174 2,142 24.52
Total
260,240 0.12 0.15 62.0 0.37 0.26 0.31 678 1,214 36 214 1,517 2,576 25.77
Inferred
Notes to the Resource Table:
1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.
2. The Mineral Resources have been confined by an open pit with "reasonable prospects of eventual economic extraction" using the 125% revenue
factor case and the following assumptions:
• Metal prices of US$3,587/oz Au, US$4.82/lb Cu, US$20/lb Mo US$2,000/lb Re
• Forex of 1.32 $CDN:$US
• Payable metal of 97.5% payable Au, Payable of 96.5% for Cu, 99% payable Mo, and 50% payable Re
• Refining Costs of US$4.86/oz for Au, US$0.053/lb for Cu, US$0.95/lb for Mo, and US$0.60/lb for Re
• Smelting costs for Cu of US$53.20/dmt for Cu and US$98.80 for Mo
• Transportation and insurance costs of CDN$120/wmt proportionally distributed between Au, Cu and Mo
• Royalty of 1% NSR for Red Dog and West Goodspeed deposits
• Pit slopes are variable based on geotechnical zones and range from 31 degrees to 49 degrees, depending on sector
• Mining cost of US$3.00/t for waste and mineralized material
• Processing costs of CDN$10.30/t, general and administrative costs of CDN$0.70/t
3. Metallurgical recoveries for Au are: 91% for NW Expo, 84.5% for Red Dog, 78.2% for WGS and 59.2% for Hushamu in the CMG and 54.3%
outside the CMG.
4. Metallurgical recoveries for Cu are variable at NW Expo and WGS as in Table 9. At NW Expo averaging 73.8% and averaging 79.2% at WGS. Cu
recovery is 89.7% at Red Dog and 77.8% at Hushamu within the CMG and 75.4% outside the CMG.
5. Metallurgical recoveries for Mo are 45.0% at NWExpo and Red Dog and variable at WGS with an average of 43.0%, and 49.2% at Hushamu within
the CMG and 44.6% outside the CMG.
6. Metallurgical recoveries for Re are 36% at NWExpo and Red Dog and variable at WGS with an average of 34.5% at WGS, and 39.3% at Hushamu
within the CMG and 35.7% outside the CMG.
7. The NSR equations are:
• NW Expo within the CMG: NSR (CDN$/t)=(Au*91%*CDN$146.04g/t)+(Cu*CuRec%*CDN$5.98+Mo%*45%*CDN$24.63 +
Re%*36%*CDN$1306)*2204.62
• Red Dog: NSR (CDN$/t)=(Au*84.5%*CDN$141.34g/t) + (Cu*89.7%*CDN$5.79+Mo%*45%*CDN$24.39 +
Re%*36%*CDN$1293)*2204.62
• Hushamu within the CMG: NSR (CDN$/t)=((Au*59.2%*CDN$141.29g/t) + (Cu*77.8%*CDN$5.78 + Mo%*24.63*49.2% +
Re%*CDN$1306*39.3%)*2204.62
• Hushamu outside the CMG: NSR (CDN$/t)=((Au*54.3%*CDN$142.20g/t) + (Cu*75.4%*CDN$5.82 + Mo%*24.63*44.6% +
Re%*CDN$1306*35.7%)*2204.62
Northisle Copper and Gold Inc. | 520 – 1050 West Pender St. | Vancouver, BC | V6E 3S7
www.northisle.ca | info@northisle.ca
• WGS: NSR (CDN$/t)=(Au*78.2%*CDN$140.08g/t) + (Cu*CuRec%*CDN$5.74+Mo%*MoRec%*CDN$24.39 +
Re%*ReRec%*CDN$1293)*2204.62
8. The Equivalent equations are: Cu Eq. = NSR/(Cu_NSP*Cu_Rec%*22.0462), Au Eq. = NSR/(Au_NSP*AuRec%)
9. The specific gravity for each deposit and domain ranges from 2.62-2.86 depending on alteration and is assumed to be 1.5 in overburden.
10. Numbers may not add due to rounding.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no
certainty that all or any part of the mineral resources will be converted into mineral reserves. Inferred
mineral resources are subject to uncertainty as to their existence and as to their economic and legal
feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to
apply relevant technical and economic factors likely to influence the prospects of economic extraction in
a manner useful for evaluation of economic viability.
These mineral resource estimates include Inferred mineral resources that are considered too speculative
geologically to have economic considerations applied to them that would enable them to be categorized
as mineral reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic
viability.
The Qualified Person(s) are of the opinion that issues relating to all relevant technical and economic factors
likely to influence the prospects of eventual economic extraction can be resolved with further work. These
factors may include environmental permitting, infrastructure, sociopolitical, marketing, or other relevant
factors.
Figure 1 shows the location of the deposits within the North Island Project in the context of regional
infrastructure.
Northisle Copper and Gold Inc. | 520 – 1050 West Pender St. | Vancouver, BC | V6E 3S7
www.northisle.ca | info@northisle.ca
Figure 1: North Island Project Showing Location of Deposits and Prospects
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Exploration and

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