Northisle and Quatsino First Nation Sign Inaugural Agreement Supporting Key Project Activities

Northisle Copper and Gold Inc. (TSX-V: NCX) ("Northisle" or the "Company") is pleased to announce that its 100% owned subsidiary North Island Mining Corp. ("NIMC") has entered into an agreement (the "Agreement") with Quatsino First Nation ("Quatsino", and together with NIMC, the "Parties") which is the culmination of many years of mutually respectful engagement between the Parties. The Agreement covers all NIMC mineral claims within Quatsino Territory (as defined in the Agreement) and provides for an open, honest, transparent and fair process through which NIMC can conduct certain activities to determine the viability of developing mines, mills, or related facilities for the commercial production of minerals in a manner which recognizes Quatsino Rights (as defined in the agreement).

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Quatsino Chief Tom Nelson stated, "This agreement represents a good first step and sets a strong foundation for our relationship with Northisle. We look forward to working with Northisle to further explore how we can work together to create a stronger future for our Nation today, and for the generations to follow, while standing firm in our duty as stewards of the land. The recognition of Quatsino rights embedded in the agreement will allow us to work together to continue to evaluate Northisle's mineral projects within Quatsino Territory."

Sam Lee, President and CEO of Northisle commented, "We deeply appreciate the time and effort Quatsino First Nation Council and representatives have invested in building our relationship to date. We acknowledge that our work does and will continue to have an impact on the traditional and unceded territories of Quatsino and other First Nations on the North Island while we seek to further advance the opportunity that our project could bring in the area. This agreement is a significant step and provides a clear process for us to ensure mutual understanding of and support for our activities."

He continued, "From day one, Northisle has proactively engaged with potentially impacted First Nations, and we continue to focus on working in a collaborative, consent-driven basis. We are extremely pleased to have progressed our discussions with Quatsino First Nation to this point and are confident that the Joint Implementation Committee provides the framework to make increasingly complex decisions together. With this agreement in place, we have a clear path to finalize our 2023 exploration programs, engage all communities fully, and rapidly move the North Island Project forward."

Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation commented, "In the 21st century, successful resource development companies see First Nations' rights as an opportunity, a chance to nurture B.C.'s world-class exploration and mining sector through respect, reconciliation and support for local communities. The respectful process Northisle followed in developing this collaboration with the Quatsino First Nation exemplifies the goals and objectives of the BC Regional Mining Alliance, of which Northisle is a member, and will help to position B.C. as a leader in the critical metals revolution."

Northisle continues to execute on its surface exploration program, as described in its November 1, 2022 press release (see here). 2023 drilling programs are currently being finalized and will be advanced in collaboration with Quatsino through the Joint Implementation Committee (the "JIC"), which is anticipated to augment existing BC Government permitting and referrals processes.

Agreement Details

A key feature of the Agreement is the creation of a JIC through which the Parties will consider matters of mutual interest, including potential future activities by NIMC within Quatsino Territory.

In addition, the Agreement provides for, among other things:

• confirmation of support by Quatsino for NIMC's existing exploration authorizations;
• advance review of new authorizations by Quatsino, via the JIC, prior to submission;
• funding by Northisle to support community initiatives and to support the principle of "no net cost" to Quatsino for its consideration of NIMC's activities; and
• the Parties will work jointly to identify opportunities for business development and third-party funding.

The framework of the Agreement is anticipated to be a framework for continued relationship and trust building between Northisle and Quatsino First Nation as the North Island Project continues to advance.

About Quatsino First Nation

Our people have been living on the Northern tip of Vancouver Island for millennia. We are the descendants of five (5) traditional Kwakwaka'wakw "tribes" which are as follows: T'latsinuxw (Klaskino), Huyalas (Hoyalas), Gusgimukw (Koskimo), Gob'inuxw (Giopino), Qwat'sinuxw (Quatsino) that spoke a similar dialect of the Kwak'wala language and amalgamated starting in the 1700's. We have used and occupied the full extent of this territory since time immemorial. It was a land of plenty that supported a dense population, complex society and vibrant economy. We will always be the stewards of this land and rely on its rich bounty to support our culture, community and economy.

About Northisle

Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada's leading sustainable mineral resource company for the future. Northisle, through its 100% owned subsidiary North Island Mining Corp., owns the North Island Project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.

For more information on Northisle please visit the Company's website at www.northisle.ca.

Cautionary Statements regarding Forward-Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to outcome of discussions between the Parties, exploration programs as well as any other future plans, objectives or expectations of Northisle. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Neither the 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 news release.

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Northisle has signed an agreement with Quatsino First Nation supporting key project activities. "This agreement is a significant step and provides a clear process for us to ensure mutual understanding of and support for our activities." - Sam Lee, CEO

On behalf of Northisle Copper and Gold Inc.

Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: (604) 638-2515
Email: info@northisle.ca
www.northisle.ca