Universal Copper Announces Results of AGSM

VANCOUVER, October 23, 2020 - Universal Copper Ltd. ("UNV", "Universal Copper" or the "Company") (TSXV:UNV) is pleased to announce that the shareholders of the Company approved all matters at its annual general & special meeting ("AGSM") held on October 21, 2020:

1. Setting the number of directors at five (5);
2. The re-election of Clive Massey, Alexander Helmel, James Hyland, Wesley Pomeroy and Wesley C. Hanson as directors of the Company for the ensuing year;
3. The appointment of Dale, Matheson, Carr-Hilton, Labonte, LLP, Chartered Professional Accountants as Auditor for the Company;
4. The approval and confirmation of the Company's stock option plan;
5. The approval by Disinterested Shareholders to amend the exercise price of *509,583 outstanding Stock Options previously granted to directors to $0.10 per share.

The directors resolved in writing on September 8, 2020 to approve the re-pricing to $0.10 of all 1,197,083 outstanding stock options previously granted to directors and consultants, including *509,583 previously granted to directors of the Company (the "Option Amendment"). All other terms of the Option Agreements remain unchanged and none of the Options may be exercised until TSX Venture Exchange approval has been obtained.

About Universal Copper

Universal Copper Ltd. is a Canadian-based exploration company focused on the acquisition and exploration of copper and precious metals properties. Our objective is to build shareholder value through the acquisition of projects with significant technical merit. The Company's management team has many years of experience in exploration, finance and efficient public company management.

ON BEHALF OF THE BOARD OF DIRECTORS

Clive H. Massey
President & CEO

For additional information please visit the Company's website at www.universalcopper.com

For further information, please contact:

Investor Relations
Phone: (604) 644-6794

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

Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Universal Copper Ltd.