Interra Copper Corp. has received the final report from the 2021 work program undertaken on its 100% owned, 20,658 ha Thane Property, located in north-central BC. The report summarizes the results from the diamond drilling, Induced Polarization ("IP"), geological mapping, rock and soil sampling studies and includes interpretations and recommendations for future work.

Diamond drilling and core analysis targeted the Cathedral Area, which is one of eight high priority targets on the Property. In addition to the Cathedral Area, geological mapping, IP surveying, rock and soil sampling was also undertaken at the Gail and Mat Areas. Key interpretations from the report include: Geological mapping at the Gail Area has identified four plutonic suites, which include (from oldest to youngest): Thane Creek suite (207 and 194Ma), Duckling Creek suite (182 and 175 Ma), Osilinka suite (maximim emplacement 160Ma) and the Mesilinka suite (135 to 128Ma); The Re-Os date of (202.8 +/-0.8Ma) from molybdenite from the Gail Showing is within the alkalic porphyry Cu-Au age of mineralization cluster of 205-200Ma observed within porphyries located throughout British Columbia; Results from drilling provide further evidence of north-south trending zones of copper-gold mineralization with calc-potassic to peripheral outer propylitic hydrothermal alteration assemblages relate to a structurally controlled moderately westward tilted Alkalic porphyry system; and A significant increase in epidote and quartz-epidote veins and fracture intensity containing low-grade copper mineralization overprints calc-potassic and inner propylitic alteration within the Cathedral South area.

This increase corresponds to a broad increase in both Au/Cu and Cu/Mo ratios not seen in other areas of the property and could be a potential vector to an outer stockwork around the central quartz-rich stockwork at depth in the western area of the Cathedral South area. Additionally, a massive magnetite breccia within the ARC Showing, located approximately 350m southwest of the Cathedral South drill hole (TH21-4), contains significate copper, gold and silver mineralization. Sampling of this structure in 2017 returned 11.1% Cu, 2.77g/t Au and 29.20 g/t Ag (Gordon et al, 2018).

Key recommendations from the report include: Geological mapping, rock sampling and geophysical surveys within the central region of the Property, which includes current prospects at the Cirque, Ootes, Gail and CJL areas, to develop to drill ready status. At the Cirque area, rock sampling in 2020 returned 77.8 g/t Au from a 12 cm wide quartz vein (Naas et al, 2020). At the CJL area, historical rock sampling has returned up to 9.51% Cu, 28.9 g/t Ag and 680 ppm Mo (Naas, 2016); A total of 2,000m of drilling is an ideal minimum in order to properly test structurally controlled mineralization and westerly tilt porphyry potential in the west, southwest and northwestern areas of the Cathedral South area; and To assist in the understanding of the deposit, electron microprobe and laser ablation inductively-coupled plasma mass spectrometry of chlorite has been recommended in addition to a Sulphur isotope zonation study.

These are new tools that have been developed and have demonstrated success in defining the limits of porphyry systems and should help in identifying Thane property's next priority drill hole locations. Exploration work on the Property for the 2022 field season will focus on developing new drill targets in the central region, which hosts the Gail, Aten, Cirque, Ootes and CJL Showings. Work is planned to include IP surveying, geological mapping, rock and soil sampling, to further this area towards a most effective drill-ready stage.