Vancouver - Northisle Copper and Gold Inc. (TSX-V: NCX) ('Northisle' or the 'Company') is pleased to announce that it has received the first assay results from its 2021 drill program at Northwest Expo confirming a zone of high-grade, gold-rich porphyry mineralization approximately 3 kilometers northwest of its Red Dog Deposit.

In addition, preliminary surface geophysical surveys at Macintosh have identified numerous chargeability and resistivity anomalies. Northisle commenced drill testing these anomalies on January 19, 2022 and anticipates completion during Q1 2022. In addition, Northisle recently completed 4 holes at Hushamu, and will continue in-fill and step-out drilling following completion of drilling at Macintosh.

Highlights

Drilling confirms a trend of gold-rich copper porphyry mineralization covering 480 meters strike length by 360 meters dip length with an average width of 86 meters and open in multiple directions

Grades in the gold-rich zone at Northwest Expo in the range of three to five times higher than those at Hushamu and Red Dog

Assays for five drill holes at Northwest Expo remain pending that are targeting the eastern extent of interpreted large porphyry-related alteration system

Northwest Expo is approximately 3km to the northwest of Red Dog and not part of current resources

Sam Lee, President & CEO of Northisle stated 'We are pleased with the results at Northwest Expo to date which demonstrates the potential to add higher grade resources to the North Island Project. This gold-rich zone is not within the current resource at the North Island Project and is only 14 kilometers from the proposed plant site. Grades in the new zone are approximately three to five times higher than the grades at Hushamu and Red Dog which could have a positive impact on project economics and support our belief that we are just scratching the surface of the potential of our 50km camp scale porphyry belt.'

Robin Tolbert, Vice President Exploration of Northisle added 'With the receipt of assay results from NW21-03, we have now defined an area of approximately 480 meters by 360 meters of porphyry copper-gold mineralization, with an interpreted average width of 86 meters, and this volume is open in multiple directions. This is just the beginning of exploration on Northwest Expo. A ground-based geophysical program is scheduled to commence shortly and will allow targeting of an expanded drill program, to commence upon receipt of permits. The positive assay results have confirmed the regional interpretation of the importance of the chlorite-magnetite mineralization in this area, which will help to inform our approach to exploring the rest of our large and prospective land package.' He added, 'I am very excited to get back in the field during Q1 to test the drill targets identified by recent geophysical surveys at Macintosh and continue to see immense opportunities across our more than 33,000 hectares of exploration tenure.'

Northwest Expo Details

Northwest Expo has been the subject of several drill programs dating back to at least 2005. Current exploration is focused on gaining a better understanding of three zones, labelled Zone 1, Zone 2, and Zone 3. Zone 1 contains significant intercepts of gold-rich copper porphyry mineralization and is a compelling target for near-term exploration. Zone 2 exhibits extensive faulting and may represent a down faulted block. Zone 3 contains historic drill intercepts of significant (>0.1 % Cu) copper-gold porphyry mineralization from 91 metres to 176 metres in length. Two holes were drilled in 2021 in this area with assays pending.

The objective of the 2021 program at Northwest Expo was to drill test anomalies indicated by limited induced polarization (IP) geophysical surveys completed in 2012. A review of historical drilling from 2005 and 2007, and updated with additional data from 2008, identified several intercepts of economically significant gold and copper which are detailed below. The previous IP geophysics identified a 550 m wide chargeability anomaly (>15mV/V) extending south from a line running northeast from 5619500 North (north of DDH EC245) to 571400 East (northeast of DDH NW21-02). This anomaly is open to the northeast. The IP/Mag survey planned to commence in Q2 2022 will cover that un-surveyed area.

The observed styles of alteration and mineralization in drill holes at Northwest Expo are consistent with the current hypothesis that this porphyry system is tilted to the southwest so that the core of the porphyry system lies to the northeast.

Zone 1 - Gold-rich Porphyry Target

This zone is underlain by Jurassic Bonanza Formation andesitic volcaniclastics, flows and feldspar porphyry dykes and minor diorite with intense silica-clay-pyrite alteration imposed upon them, as well as hydrothermal breccias and silica immiscibility textured rocks emanating from an aerially extensive hydrothermal system. Mineralization occurs predominantly in characteristic chlorite-magnetite altered rocks (CMG) which is identical to the mineralization observed at Island Copper, Hushamu, Red Dog and Goodspeed areas.

Drill hole NW21-03 is of particular interest as it confirms a zone of high-grade gold-copper porphyry mineralization which extends from EC-254 in the west approximately 480 meters horizontally to NW21-03 in the east, and from EC-254 in the north 120 metres horizontally to EC-228 in the south, for an interpreted total extent of at least 500 meters strike length by between at least 240 - 480 metres dip length. Drill holes which intersect this zone have significant mineralized intercepts (>0.1% Cu) ranging from 70 metres to 116 m in length, and an interpreted average true width of 86 metres.

The surveys identified two main IP chargeability anomalies which extend to over 400 metres depth, with branches approaching near surface, and trend across MacIntosh Mountain over 2,000 m from northeast to southwest and over 2,700 m from northwest to southeast. These anomalies are open at depth and to the northeast and southwest. The northwest anomaly to be tested by proposed holes PH-6 and PH-7 is adjacent and contiguous with the Hushamu Deposit. The central anomaly and branches will be tested by PH-1 to 5 and Ph-8 and PH-A. This central anomaly has coincident magnetic anomalies at depth and to the northeast. One of the main ore types at Hushamu, Northwest Expo and Red Dog is chlorite-magnetite altered Bonanza Formation and is, as the name suggests, very magnetic. These proposed holes will also test these magnetic anomalies.

Contact:

Tel: 1-604-638-2515

Fax: 1-604-669-2926

Email: info@northisle.ca

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