Northisle Secures $115M to Fast-Track Major BC Copper-Gold Project

VANCOUVER, BC – March 06, 2026 – Northisle Copper and Gold Inc. has successfully closed a landmark $115 million financing, a major capital injection that significantly de-risks and accelerates the development of its North Island Project, positioning it as one of Canada’s next potential major copper and gold mines. The successful offering underscores strong investor confidence in the project's robust economics and its strategic alignment with British Columbia's critical minerals objectives.

A Major Capital Injection for a Promising Asset

Northisle announced the closing of aggregate gross proceeds of $115,003,300, achieved through a combination of a "best efforts" brokered public offering and a non-brokered private placement. The financing saw the issuance of 37,706,000 common shares at a price of $3.05 per share, attracting a mix of new institutional investors and securing continued support from existing major shareholders, including Wheaton Precious Metals Corp., which participated with a nearly $5 million placement.

The brokered offering was led by a syndicate of agents headed by Paradigm Capital Inc., signaling broad support from the financial community. The net proceeds are earmarked for the advancement of the North Island Project and for general working capital, providing a substantial treasury to execute the company's ambitious plans for 2026 and beyond.

“We are pleased to welcome many new institutional investors to our share registry and are thankful for the ongoing support of our existing shareholders, including Wheaton,” stated Sam Lee, President & CEO of Northisle. “The financing and our inclusion in the BC Critical Minerals Office, combined with our growing engagement with First Nations and North Island communities, highlights the opportunity for Northisle to rapidly advance the development of our North Island Project.”

This capital infusion is critical as it fully funds the company through its next major milestone: the completion of a Pre-Feasibility Study (PFS), which is targeted for the fourth quarter of 2026. The PFS will build upon previous technical work and upgrade the project's economic and engineering parameters, moving it from a promising exploration concept to a tangible development plan.

The North Island Project: A Strategic Copper Resource

Located near Port Hardy on Vancouver Island, the North Island Project encompasses a massive 34,000-hectare land package on a mineral belt that hosted the formerly producing Island Copper Mine. Northisle's project is widely considered one of the most significant copper and gold porphyry projects in Canada.

Its potential was quantified in an updated Preliminary Economic Assessment (PEA) from February 2025, which outlined impressive economics. The PEA projected a robust after-tax net present value (NPV) of C$2 billion and an internal rate of return (IRR) of 29%, with a rapid 1.9-year payback period based on conservative metal prices. The study envisioned a large-scale, long-life open-pit operation with a staged development approach, starting with a 40,000 tonnes per day operation before expanding.

The strategic value of the project is amplified by the growing global demand for copper, a metal essential for the green energy transition. From electric vehicles and charging infrastructure to wind turbines and solar panels, the global push for decarbonization is forecast to create a significant supply deficit for copper. Projects like North Island are therefore viewed as critical future sources of this essential metal, aligning with both national and global priorities for securing a stable supply of critical minerals. Northisle’s extensive 2025 field program, which included over 20,000 meters of drilling, has already identified new mineralization, suggesting the full potential of the 50-kilometer district is still being uncovered.

Government Backing and a Clearer Path to Production

A pivotal development for Northisle has been its selection for inclusion in the BC Critical Minerals Office. This initiative by the provincial government is designed to accelerate the permitting process for high-priority projects by providing a coordinated, "one-stop" approach for regulatory approvals and engagement.

This inclusion does not lower environmental or social standards but rather streamlines the complex web of regulatory requirements, facilitating more efficient and predictable timelines. By coordinating with various government bodies and supporting First Nations and community engagement, the office helps projects like North Island navigate the path to production more effectively. This government endorsement is a significant vote of confidence and a crucial de-risking factor, providing investors and stakeholders with greater certainty regarding the project's development trajectory.

The initiative is part of British Columbia's broader strategy to bolster its critical minerals sector, which is mirrored by Canada's national Critical Minerals Strategy. These government frameworks aim to promote domestic production, enhance economic resilience, and ensure that resource development proceeds in partnership with Indigenous groups. The direct support from provincial leadership signals a clear political will to see the North Island Project advance.

A Model for Collaboration with First Nations

Perhaps one of the most significant achievements underpinning the project's progress is Northisle's successful and respectful engagement with local First Nations. The North Island Project is located within the traditional territories of the Quatsino First Nation, Kwakiutl First Nation, and Tlatlasikwala First Nation. Critically, Northisle has now established formal agreements with all three Nations.

These agreements, built on years of dialogue, provide a solid framework for collaboration, information sharing, and ensuring that the project advances in a way that respects Indigenous rights and creates mutual benefits. This "consent-driven" approach has been instrumental in gaining support and expediting exploration permits. The agreements include provisions for joint implementation committees, business development opportunities, and concurrent environmental monitoring.

A leader from the Quatsino First Nation has previously characterized their agreement as a foundational first step that establishes a strong basis for their relationship with the company. This proactive and partnership-based model is increasingly seen as the blueprint for successful resource development in Canada, moving beyond historical conflicts and toward a future of shared prosperity. The visible support from hereditary and elected leadership from all three Nations at recent company events further solidifies the strength of these crucial relationships.

With its treasury now full, its path through permitting clarified by government support, and its foundational relationships with First Nations secured, Northisle is in a formidable position. The focus now shifts to execution, as the company deploys its new capital to complete the vital drilling, metallurgical, and engineering work required to deliver a comprehensive Pre-Feasibility Study by the end of the year.