Carube Announces Exploration Program at the Mackenzie Copper Project

Toronto, August 14, 2019 - Carube Copper Corp. (TSXV: CUC) is pleased to report that it has completed a mapping and sampling program on its 100% owned Mackenzie Copper Project in southwestern British Columbia (Figure 1). Previous work by Carube Copper and its predecessor Miocene Metals has identified three copper bearing trends (Figure 2) across the 125 square kilometre project area. This year's initial program of exploration focused on two of the areas, namely the Bornite Trend and the Breccia Trend prospects. A total 40 samples have been submitted for assay, which are pending.

Highlights of Mapping and Sampling Programs

Breccia Trend

• Broad zones of gossanous and silicified rock have been identified over a 1,200m by 600m area.
• Copper staining observed in multiple outcrops.
• Host rock is a breccia cut by sheeted and quartz stockwork veins.

Bornite Trend

• Bornite and chalcopyrite mineralization hosted by planar and quartz stockwork veins.
• Vein style mineralization defined along a 7.5-kilometer strike length.

Figure 1: Carube Project Locations

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Mackenzie Copper Project

The Mackenzie property is located in southwestern British Columbia, approximately 100 kilometres west of Lillooet, the nearest population centre, railhead, source of high-tension power and major roads. Forest service access roads cross the northern and southern claim boundaries and link the property with the town of Gold Bridge, which is located about 40 kilometres to the east. The property consists of 12 mining claims covering 125 square kilometres.

Figure 2: Map showing the Mackenzie project area and mineralized trends identified to date

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Breccia Trend

The easternmost prospect area at Mackenzie contains a highly weathered, silicified and gossanous breccia cut by northwest-southeast trending sheeted and stockwork quartz+/-carbonate veins. The vein system has been mapped along strike for over 1.2-kilometres and remains open to the south and east. Stream sediment samples collected in the area confirm anomalous copper values ranging from 12.7 to 98.6 ppm copper with associated elevated arsenic (5.1 to 34.3 ppm), antimony (1.1 to 25.7 ppm) and zinc (12.8 to 45.0 ppm). Historic samples collected from the gossanous breccia (Figure 3) assayed up to 0.21% Cu, with elevated levels of arsenic (4.8 to 693 ppm), antimony (2.9 to 751 ppm), and zinc (37 to 284 ppm). Recent mapping and sampling identified several new occurrences of gossanous breccia with quartz veining that contain chalcopyrite and malachite mineralization. Several new zones of outcropping gossan were also observed up to 4km from the Breccia Trend proper and will be followed up during the next field program. A total of 35 samples were collected, assays are pending.

Figure 3: Silicified ledges at the Breccia Trend with strong quartz veining and copper stain (Note: Photo insets of X941258 and X941262 are located 65m and 225m from photo location, respectively)

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Bornite Trend

Historic mapping and sampling at the Bornite Trend identified scattered quartz-bornite-chalcocite-magnetite ± chalcopyrite ± tetrahedrite veins and stringers over a strike length of 7.5 kilometres. Copper mineralization at Bornite Trend occurs along the eastern margin of the Miocene-age Bridge River pluton, which is part of the Coast Plutonic Complex. Carube geologists collected 23 rock chip samples (Figure 4) in previous mapping and sampling programs, with 14 samples assaying above 0.3% Cu and up to 4.3% Cu, with associated gold (0.01 to 0.45 g/t) and silver (3.34 to 4,170 ppm). A high resolution airborne magnetic survey was conducted in 2015 which identified a large, deep-seated magnetic anomaly adjacent to the central Bornite Trend prospect area. The magnetic anomaly measures 2.5km by 1km and is interpreted to have three apophyses emanating off the top, none of which have been drill tested. Recent geological mapping and sampling identified three new occurrences of quartz-magnetite veining with bornite, chalcocite, and malachite mineralization (Figure 5). The new targets were mapped over an area measuring 70m by 140m. A total of 5 samples were collected from the newly discovered copper occurrences, with assays pending.

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Historic mapping and sampling at the Tillworth Trend identified a northwest to southeast trending zone of quartz-chalcopyrite ± bornite ± molybdenite veining and stringers that can be traced along strike for more than 13km. A total 88 rock samples were collected by Carube during previous exploration programs, with a total 59 samples assaying above 0.30% Cu and up to 23.4% Cu with associated gold (0.01 to 1.65 g/t) and silver (0.17 to 78 g/t). The mineralized structure varies from cm-scale to nine metres in width and is spatially associated with a younger, fine-grained granodioritic to dioritic dyke. The Tillworth Trend prospect was not visited during this mapping and sampling program.

Cascade Magmatic Arc

Carube's Mackenzie Property and Amarc Resources' recently discovered IKE Deposit (592 metres of 0.44% CuEq @ 0.30% Cu, 0.032% Mo and 2.1g/t Ag), are located within the Cascade Magmatic Arc, a belt of Tertiary and younger intrusive and extrusive rocks, which stretches from Northern California up to the southern end of the Alaska Panhandle. This Arc, formed as a result of the subduction of various Pacific Ocean plates, transform faults and ridges beneath the North American continent over the past 65 million years. The majority of the Cu, Au and Mo resources being mined in the world, primarily in Chile, Peru, the United States and Indonesia, come from similarly aged belts of porphyry intrusions. In the United States, the Cascade Magmatic Arc has produced mineral deposits of significant size, such as Quartz Hill (1.6 BT of 0.127% MoS₂)¹ in Alaska, and Glacier Peak (1.7 BT @ 0.334% Cu and 0.015% MoS₂)² and Margaret (523 MT @ 0.36% Cu, 0.013% MoS₂.)² in Washington State (historic resources).

1. Maas, K.M., Bittenbender, P.E., and Still, J.C., 1995, Mineral investigations in the Ketchikan mining district, southeastern Alaska: U.S. Bureau of Mines Open-File Report 11-95, 606 p.
2. R. Lasmanis, Regional geological and tectonic setting of porphyry deposits in Washington State: Porphyry Deposits of the Northwestern Cordillera of North America, CIM Special Volume 46, p77-102.

ABOUT CARUBE COPPER

Carube Copper is focused on creating substantive long-term value for its shareholders through the discovery and development of world class copper and gold deposits. Carube currently holds a 100% interest in 5 licenses covering 207 km² of highly prospective copper-gold terrain in Jamaica, and a 100% interest in two porphyry copper-gold properties covering 337 km² within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46-square-kilometre Stewart Brook gold project in the Meguma gold belt of Nova Scotia. Carube is actively searching for additional high potential copper and gold properties to add to its portfolio.

QP Statement: This press release has been reviewed and approved by Mr. Shannon Baird, P.Geo., Carube Copper's Exploration Manager, in his capacity as a qualified person as defined under NI 43-101.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".

IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf

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