Acquisition of Common Shares of Lowell Copper Ltd.

VANCOUVER, July 31, 2013 - The Lowell Family Trust (the "Trust") reports that the Trust has acquired an aggregate of 11,416,029 common shares (the "Shares") in the capital of Lowell Copper Ltd. (formerly Waterloo Resources Ltd.) (the "Corporation") consisting of:

- 10,416,029 Shares (the "RTO Shares") issued pursuant to the reverse takeover transaction completed on July 9, 2013 (the "RTO") whereby the Corporation acquired all of the issued and outstanding shares of Lowell Copper Inc. ("Lowell") in exchange for post-consolidation common shares of the Corporation (consolidated on a two-for-one basis) at a ratio of one Share for every 1.47 common shares of Lowell; and

- 1,000,000 units of the Corporation purchased under a concurrent private placement of units of the Corporation (the "Private Placement") at a price of $0.54 per unit, with each unit consisting of one Share and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Share at a price of $0.72 until July 9, 2018.

As a result of the RTO and the Private Placement, the Trust beneficially owns an aggregate of 11,416,029 Shares and 500,000 Warrants or approximately 16.41% of the 69,571,494 issued and outstanding Shares on a non-diluted basis or approximately 17.0% of the issued and outstanding Shares calculated on a partially-diluted basis assuming the exercise of the Trust's Warrants. The Trust does not hold any other securities of the Corporation at this time.

The RTO Shares and the 1,000,000 units were received pursuant to the RTO and the Private Placement. Subject to compliance with applicable securities laws in respect of the resale of the Shares, Warrants and any Shares issued upon exercise thereof, the Trust may purchase, sell or acquire securities of the Corporation in the future on the open market or in private transactions, depending on market conditions and other factors material to its investment decisions.

The RTO Shares were issued pursuant to the business combination exemption provided for in section 2.11 of National Instrument 45-106 ("NI 45-106"). The Trust relied upon the accredited investor exemption provided for in section 2.3 of NI 45-106 to acquire the 1,000,000 units under the Private Placement.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). For further information and to obtain a copy of the Early Warning Report filed in connection with the RTO, please see the Corporation's profile on the SEDAR website at www.sedar.com or contact the person listed below.



Contact

Lowell Family Trust
c/o J. David Lowell
(520) 281-8271

Lowell Family Trust
789 Avenida Beatriz
Rio Rico, Arizona, USA
85648