CAVU Mining Corp. Mobilizes to Hopper Porphyry Project in Yukon and Announces Drill Targets

Highlights

• Four targets will be tested (Figure 1), including the Copper Castle skarn and porphyry zone
• Drill results^[1] in the Copper Castle skarn have previously yielded:
  • 22.28 m @ 1.405% Cu, 0.532 g/t Au, 11.7 g/t Ag from 55.44 m in HOP21-DDH01
  • 13.70 m @ 0.41% Cu, 0.25 g/t Au, 3.84 g/t Ag from 2.95 m in HOP11-01
  • 16.93 m @ 0.22% Cu, 1.76 g/t Au, 1.75 g/t Au from 125.67 m in HOP11-01
  • 8.5 m @ 1.62% Cu, 0.54 g/t Au, 9.30 g/t Ag from 58.28 m in HOP11-03
• The porphyry zone was drilled in 2021 with one hole (HOP21-DDH06) which yielded:
  • 114.38 m @ 0.216% Cu, 0.025 g/t Au, 1.3 g/t Ag from surface

"Crews are now onsite to prepare for the drill program", stated Dr. Jacob Verbaas, CEO of CAVU. "The initial 5,000 m of drilling will start the delineation of the high-grade zone in Copper Castle, further the porphyry zone we discovered last year, and drill 2 targets that have never been drilled. We expect to be drilling by the second half of May".

Figure 1 -Planned collars (white) and historic diamond drill collar overview of the Hopper Property. Target zones are outlined in white.

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Copper Castle

The first phase of drilling in Copper Castle will further test high-grade zones associated with a geophysical anomaly that has not been fully tested along strike. The Copper Castle is a zone with up to 10 stacked shallow-dipping skarn horizons that are up to 20 m thick. The mineralized skarn horizons contain variable amounts of copper, silver, gold and molybdenum. Skarn mineralization in the Copper Castle zone occurs over an area of 1,350 x 650 m and over a 400 m vertical extent. The zone remains open both along strike and to depth, except to the north where it abuts the Hopper Intrusive Complex. Drilling in 2021 by CAVU was successful in extending mineralization to the south, highlighted by 22.28 m of 1.84% CuEq. in HOP21-DDH01 and 10.96 m of 1.76% CuEq. in Hole HOP21-DDH03. Most drilling in Copper Castle has been done to the west of a sizeable EM anomaly shown in Figure 2. The EM anomaly likely correlates to semi-massive sulphides in the Franklin skarn (Figure 2, inset), a mineralized horizon at shallow depth but may also be indicative of deeper semi-massive sulphides. For instance, hole HOP11-04 intersected 8.01 m @ 1.58% Cu, 0.84 g/t Au, 14.82 g/t Ag from 174.86 m, below the Franklin skarn.

Figure 2. Drilling will commence in the Copper Castle zone where (semi-)massive sulphides host copper, gold, and sliver. Inset figure (i) shows massive sulphides in drillhole HOP21-DDH01 in an 80 cm interval from 64.0. m of 11.418 % Cu, 147 g/t Au, 2.56 g/t Au. Black mesh linework are interpreted faults.

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Primary Porphyry Target

The first phase of drilling over the primary porphyry target is a 5-hole test. This porphyry target yielded an intersect of 0.22% Cu over 114.38 m during CAVU's first drill test of the zone (Figure 3). The drill hole intersected the altered propylitic margin of a mineralized porphyry intrusion. Geophysical and geochemical data indicate potential mineralization over a roughly circular area that is 1450 m in diameter (Figure 1). The aim of this 5-hole test is to determine 3D mineralogical and chemical vectors towards higher-grade mineralization for a second phase of drilling.

Figure 3. Sectional view of Hopper porphyry zone with two planned DDH traces depicted in relation to HOP21-DDH06. Inset shows example of chalcopyrite mineralized drill core from HOP21-DDH06. Copper (Cu, ppm) displayed right of drill traces (cutoff at 3000 ppm, full spectrum is colour coded). Inset figure shows HOP21-DDH06 at 29m, in an interval of 19.89 m from 16.50 m that graded .272% Cu, 1.1 g/t Ag, and 0.043 g/t Au.

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Secondary Porphyry Target

During the analysis of historical data and the drill core from 2021, a secondary porphyry target was identified proximal to the Copper Castle skarn zone. This porphyry target is located in a separate phase of the Hopper Intrusive Complex and is immediately adjacent to the skarns. Two 400 m holes are planned in this target. The target has never been drilled and is considered high priority for the following reasons:

• Molybdenum in skarn and molybdenum enrichment in granodiorites occurs immediately adjacent to each other in drill core in HOP15-004 and HOP21-DDH05.
• Molybdenum commonly only occurs in skarns very close to the causative intrusion.
• The target is located over a large K⁺ radiometric anomaly, likely associated with potassic alteration of the host intrusion (e.g., Figure 4).
• A large gold, molybdenum and copper in soil anomaly overlaps with the K⁺ radiometric anomaly.

Figure 4 - Example of granodiorite from HOP21-DDH05 (152 m) with K-feldspar altered vein haloes (HF^- stained). Potassic alteration occurs as both a primary and a secondary component of granodiorite intersected in HOP21-DDH05.

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Additional Targets

Several additional targets occur on the claim, most notably the Mitsu West and the northern skarn (Figure 1). These zones are also drill-ready and may be tested later in 2022 but are not part of the first phase of drilling.

Mitsu West target

The Mitsu West showing is located approximately 1500 m north-northwest of Copper Castle and the secondary porphyry target. The showing contains both porphyry, breccia and endoskarn mineralization over an area that is 600 x 200 m. The Mitsu West showing has yielded the following results:

• 0.43% Copper, 0.06 g/t gold and 1.83 g/t silver over 51.3m in trench TR14-11.
• Grab samples of endoskarn with up to 2.270% copper.
• Grab samples of granodiorite with up to 0.998% copper.

Northern Skarn

There is a 350 x 350 m area of chalcopyrite mineralization associated with magnetite skarn and calc-silicate alteration along the northern boundary of the Hopper intrusive complex, adjacent to the porphyry copper mineralization. Values of 0.32% Cu over 5.1 m, 0.36% Cu over 1.4 m and 0.78% Cu over 2.75 m were obtained from DDH 15-06, the only diamond drill hole to test the zone. Two (PDH 11-13 and -17) of the eight short percussion holes (totalling 271 m), which tested but did not directly target mineralization within this zone, returned significant intervals of 0.54% Cu over 3.05 m and 0.16% Cu over 16.76 m, both ending in mineralization. Anomalous copper soil geochemistry and a favourable conductive, high chargeability induced polarization geophysical anomaly extends through the northern region with isolated anomalous rock samples, including 0.86% Cu, 0.7 g/t Au, 12.45 Ag across 1 m. Rock exposure is more limited at the northern skarn and very little work has been done, in part due to previous limited access.

Data Verification

All data discussed is available in the 43-101 Report filed on SEDAR and was verified by the author, Jean Pautler, P.Geo., unless otherwise noted.

Qualified Person

Roger Hulstein, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.

About CAVU Mining Corp.

CAVU Mining Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its Hopper Copper-Gold Project in Yukon which is under option for a 70% interest and continues to evaluate complimentary mineral projects in mining-friendly jurisdictions. For more information visit www.cavumining.com

On behalf of the board of directors,
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Mining Corp.
jverbaas@cavumining.com
604-493-2997

Forward-Looking Statements

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and the Ontario Securities Commission.

^[1]All drill results discussed here have been previously disclosed by CAVU and/or its project partner Strategic Metals unless otherwise noted, and are described in the Company's NI43-101 on the Hopper Project filed on SEDAR.