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2022 Proposed Work Program

Follow up on outstanding previously announced drill results from 2021 campaign with a drilling program on nine (9) high priority targets throughout the property

The Company is planning to drill on a further eighty (80) sites as the company continue to move the Poplar inferred resources to indicated resources forward and work at increasing resources to depth and to the west. The Company is reviewing exploration plans for the nine (9) high priority targets throughout the property for drilling.

Initiate systematic evaluation of historic core by Vector Geological Solutions for exploration targeting At Poplar Project

The Company has the engaged Vector Geological Solutions Inc. of North Vancouver, Canada to compile, review and re-interpret surface and subsurface exploration data collected between 2011 through 2021, and to execute a targeted re-logging program designed to enhance exploration drill targeting.

Poplar Project claims map

Project Overview

The Poplar Project spans 61,566 hectares and is bisected by a 138 Kva Hydro electric line, and accessible by road. The property is located in a historic mining region, 35km from the Huckleberry Mine and 42km from Equity Silver. The property is also accessible via rail – only 88km from Houston or 400km to the deep-water port at Prince Rupert. Typical snowfall consists of 150cm on an annual basis, making year-round work possible.

Project History

Initially discovered from outcrop exposure in the early 1970’s, the Poplar Project has seen multiple segments of historic exploration including 1974 to 1982, 1992, 2005, 2009 to 2013.

Historic exploration included:
  • Soil and till geochemical surveys
  • Ground magnetics and IP surveys
  • Airborne magnetics and electro-magnetic surveys
  • Diamond drilling: 39,648 meters in 147 holes in Poplar Deposit area resulted in calculation of historic resource
  • Additional 135 diamond or percussion holes totaling 6,817 meters over remaining property
  • 2004 Metallurgical Study – 93% Cu recovery, 81% Mo recovery

Historic Indicated Mineral Resource of 152.3 million tonnes grading 0.32 per cent copper (Cu), 0.009 per cent molybdenum (Mo), 0.09 gram per tonne gold (Au), and 2.58 g/t silver (Ag); and an undiluted Historic Inferred Mineral Resource of 139.3 million tonnes grading 0.29 per cent copper (Cu), 0.005 per cent molybdenum (Mo), 0.07 g/t gold (Au), and 4.95 g/t silver (Ag).

The technical report supporting the Mineral Resource Estimate can be found under the Universal Copper profile on SEDAR.

Poplar Project claims map

Current Resource Estimate

Indicated Resource – Within Total Blocks
Cut-off Cu (%)
0.20
Million (tonnes)
152.3
Grade > Cut-off
Cu (%)
Mo (%)
Au (g/t)
Ag (g/t)
0.32
0.009
0.09
2.58
Contained Metal
Millions lbs of Cu
Millions lbs of Mo
Million ozs Au
Million ozs Ag
1090.9
29.5
0.430
12.640
Inferred Resource – Within Total Blocks
Cut-off Cu (%)
0.20
Million (tonnes)
139.3
Grade > Cut-off
Cu (%)
Mo (%)
Au (g/t)
Ag (g/t)
0.29
0.005
0.07
4.95
Contained Metal
Millions lbs of Cu
Millions lbs of Mo
Million ozs Au
Million ozs Ag
903.2
16.0
0.320
22.180

The Mineral Resources are supported by the following 43-101 report filed on SEDAR under Universal's profile on September 8, 2021: Technical Report 2021 Update On The Poplar Deposit, Omineca Mining Division British Columbia Report For: Universal Copper Ltd. Prepared By: James Ashton, P.E., SME-RM Independent Mining Consultant and Warren Robb, P.Geo. Report Date: September 2, 2021. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues. The CIM definitions (2014) were followed for classification of Mineral Resources. The quantity and grade of reported inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred Mineral Resources as an indicated Mineral Resource. It is probable that further exploration drilling will result in upgrading them to an indicated or measured Mineral Resource category. To determine the mineral resource present on Poplar a three-dimensional solid was constructed to constrain the interpolation of mineralization, using a 0.1 % Cu grade limit as a guide. Large internal waste zones were modelled, as were some larger post mineral dykes. Of the total database, 133 drill holes totaling 38,854 m were within the modelled area and were used in the MRE. Drill holes were compared to the mineralized solid and assays were tagged if inside. Copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.8 % Cu, 0.16 % Mo, 0.80 g/t Au and 70 g/t Ag respectively. Five-meter composites were calculated and used for variography. For this estimate and to aid with some preliminary planning, the blocks were 5m x 5m x 10m in dimension and were estimated for Cu, Mo, Au and Ag by ordinary kriging. The resource is classified as Indicated and Inferred based on each block’s proximity to data and the grade continuity within the mineralized solid. A 0.20 % Cu cut-off has been selected as a possible open pit cut-off, since at this time, no economic evaluation has been completed. At a 0.20 % Cu cut-off within the mineralized solid the undiluted Indicated resource is 152.3 million tonnes at 0.32% Cu, 0.009 % Mo, 0.09 g/t Au and 2.58 g/t Ag while the undiluted Inferred resource is an additional 139.3 million tonnes grading 0.29 % Cu, 0.005 % Mo, 0.07 g/t Au and 4.95 g/t Ag.

2019 Drill Results

Hole-ID M From M To M Interval % Cu % Mo g/t Au g/t Ag
18-PC-126 23.5 404.47 380.97 0.365 0.015 0.10 2.31
374.3 404.47 30.17 0.554 0.027 0.15 4.44
18-PC-127 5.5 270.36 264.86 0.421 0.013 0.10 2.63
24.40 78.00 53.60 0.552 0.025 0.14 1.73
51.00 78.00 27.00 0.643 0.030 0.15 2.62
18-PC-128 5 422.76 417.76 0.197 0.001 0.07 3.03
122.80 273.90 151.10 0.330 0.002 0.12 3.46
19-PC-129 48.8 538 489.2 0.362 0.012 0.11 2.22
143.18 538 394.82 0.413 0.013 0.12 2.27
48.8 143.18 94.38 0.152 0.008 0.04 2.06
143.18 230.36 87.18 0.259 0.011 0.08 2.12
230.36 487.97 257.61 0.488 0.016 0.14 2.42
487.97 538 50.03 0.324 0.002 0.12 1.92
Hole-ID18-PC-126
M From23.5
M To404.47
M Interval380.97
% Cu0.365
% Mo0.015
g/t Au0.10
g/t Ag2.31
Hole-ID18-PC-126
M From374.3
M To404.47
M Interval30.17
% Cu0.554
% Mo0.027
g/t Au0.15
g/t Ag4.44
Hole-ID18-PC-127
M From5.5
M To270.36
M Interval264.86
% Cu0.421
% Mo0.013
g/t Au0.10
g/t Ag2.63
Hole-ID18-PC-127
M From24.40
M To78.00
M Interval53.60
% Cu0.552
% Mo0.025
g/t Au0.14
g/t Ag1.73
Hole-ID18-PC-127
M From51.00
M To78.00
M Interval27.00
% Cu0.643
% Mo0.030
g/t Au0.15
g/t Ag2.62
Hole-ID18-PC-128
M From5
M To422.76
M Interval417.76
% Cu0.197
% Mo0.001
g/t Au0.07
g/t Ag3.03
Hole-ID18-PC-128
M From122.80
M To273.90
M Interval151.10
% Cu0.330
% Mo0.002
g/t Au0.12
g/t Ag3.46

2021 Drill Results

Poplar 2021 Drill Locations
Hole-ID M From M To M LENGTH % Cu % Mo g/t Au g/t Ag cuEQ*
21-PC-131 2.20 435 432 0.42 0.01 0.15 1.80 0.57
21-PC-131 242 318 76 0.51 0.01 0.18 2.74 0.68
21-PC-132 5.65 192 186.35 0.436 0.019 0.1 1.72
21-PC-133 21.25 501 479.75 0.408 0.013 0.13 2.89
21-PC-134 27 90 63 0.47 0.00 0.13 2.66 0.57
21-PC-134 225 270 45 0.39 0.00 0.10 3.81 0.49
21-PC-134 247.25 315.5 68.25 0.655 0.016 0.167 2.92
21-PC-134 315 351 36 0.36 0.00 0.11 1.85 0.44
21-PC-134 420 501 81 0.34 0.00 0.08 2.35 0.41
21-PC-135 258 336 78 0.390 0.000 0.13 12.01 0.554
21-PC-135 369 498 129 0.546 0.001 0.15 6.94 0.685
21-PC-135 5.3 498 492.7 0.288 0.001 0.09 4.16 0.374
21-PC-136 237 282 45 0.430 0.002 0.17 3.81 0.561
21-PC-136 345 369 24 0.514 0.001 0.19 6.86 0.678
21-PC-136 417 432 15 0.375 0.005 0.09 3.26 0.470

* Copper equivalents based on the following: copper US$9,972.10 per tonne, gold US$1,816.60 per ounce, silver US$22.90 and molybdenum US$41,836.39 per tonne

Poplar Project Zones

Wide Historic Zones

Additional Historic Targets: Incredible Opportunity to Increase Tonnage Through New Discoveries

Dual Dilys

  • Quartz vein stockwork with chalcopyrite and minor molybdenite

Dual Con

  • Several periods of soil, IP
  • Strong porphyry alteration
  • Grab sample 0.55% Cu, 24 g/t Ag

Hill

  • Several periods of soil, IP
  • Strong porphyry alteration
  • 0.18% Cu over 2m drill hole

Ida

  • Extensive sulphide system
  • Disseminated chalcopyrite 0.01% to 0.61% Cu
  • 1973 14 holes defined area 120 by 275 m
  • averaging 0.16% Cu

Universal Copper has yet to verify historical information.

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