Copper Lake Resources Ltd. reported the results generated from the winter diamond drilling program, recently completed on its Marshall Lake copper-zinc-silver VMS property (the "Property"), located in Northwestern Ontario. Two new target areas were the focus of diamond drilling, including a prominent MT (magneto-telluric) conductor, situated proximal and below high-grade copper-zinc-silver mineralization, known as the Conductive Centre. The second new drill target comprised an EM conductor situated 2 km to the east of the Billiton deposit.

The drilling results have provided with additional information to zero in on what believe is anore-grade VMS deposit. MT Conductor 1 comprised the highest priority target for drilling, given its close association with bore-hole electromagnetic (BHEM) conductors and associated high-grade mineralization, situated 250 metres to the SE of the Billiton deposit (collectively known as the Conductive Centre). MT Conductor 1 consists of a moderate to strong conductor, persistent over a vertical range of approximately 700 metres, extending from a depth of 300 to 1000 metres below surface, respectively.

The Conductive Centre is closely associated with several high-grade intercepts including 8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres as well as 2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.,37 g/t Au over 6.00 metres. When examining the New BHEM Conductor and the Conductive Centre in the model, three features stand out: The general trend of the Conductive Centre is sub-parallel to the NE strike of the Billiton Zone, suggesting that the Conductive Centre may host a parallel zone of base-metal mineralization, similar to that of the Billiton Zone. Only the upper portion of the Conductive Centre has been tested by diamond drilling; there is a 200-metre gap in drilling between the high-grade intercepts and the down-dip extension of the Conductive Centre; The Conductive Centre remains open down-dip despite what is shown on Figures 1 & 2: the location of the drill hole trace for MAR-23-03 and the New BHEM conductor are not aligned in the same plane, indicating there is an area of significant size in the gap.

Drilling continues to indicate a robust hydrothermal system certainly capable of producing a significant VMS deposit. Follow up drilling to define the continuity of previously encountered high-grade mineralization in the conductive centre is clearly warranted. The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line.

Copper Lake has an 82.55% interest in the joint venture property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property. In addition to the original Marshall Lake property above, Marshall Lake also includes the Solloll of the Solloll of Solloll, Solloll, Soll, Solloll, and gold project.

The project also includes the Solloll, Sollide conductor situated 2 km to the west of the Billiton deposit.