Interra Copper Corp. Reports Further Anomalous Cathedral Main Zone Drill Results

Results are from drill holes TH21-3, TH21-4, TH21-6, and TH21-12. TH21-3 and TH21-12 were designed to test the southern extent of a 600 square meter IP chargeability along line 5300N within the Cathedral Main zone. TH21-4 was drilled within the Cathedral South zone on the western extent of IP line 5200. TH21-6 was designed to test a broad, hidden, near surface 200 square meter IP chargeability anomaly approximately 350 meters to the east also on line 5300N. Drill holes intersected indicator low grade copper-gold mineralization. Anomalous mineralized intervals of significant copper (Cu), gold (Au), silver (Ag) or molybdenum (Mo) include:

TH21-3

20.65m of 0.08% Copper from 20.10 to 40.75m hole depth.

TH21-4

17.30 m of 0.05% copper, 0.03 ppm gold, 0.2 ppm silver and 7.20 ppm molybdenum from 108.20 to 125.50 m hole depth and a 0.08 Copper Equivalent ("CuEq") CuEq grade.

TH21-6:

36.71 meters of indicator mineralization within an intercept from 120.0 m to 156.71m hole depth, containing 0.07% copper, 0.5 ppm silver and 5.0 ppm molybdenum and a "CuEq" grade of 0.09%.

TH21-12

5.00 meters of indicator mineralization within an intercept from 113.35m to 118.35m hole depth, containing 0.21% copper, 0.07 ppm gold, 0.6 ppm silver and 23.6 ppm molybdenum and a CuEq grade of 0.28%.

See chart in Table 1 for significant mineralized intercepts.

As with all other holes previously released, mineralization styles intersected within the drill holes consist of localized, structurally controlled, quartz-pyrite-chalcopyrite-?arsenopyrite fractures, veins and rare semi-massive mineralization at shallow to moderate depths proximal to diorite-(quartz) monzonite and latite porphyry contacts and south-southwest to south-southeast trending moderate to steeply (40-80?) westerly dipping chloritic shears and dilational breccias.

Continued Drilling within the Cathedral Main and the Valley zones on 300N ( see figure 5) focused on the following;

• 100 meter step out to the south of TH21-1 and TH21-2 to further test mineralization within the 600 square meter IP chargeability high (up to 34 mV/V with a background of 5 mV/V) within highly K-spar and silica altered and resistive diorite to (quartz) monzonite and (quartz) syenite hosts;
• test a broad, blind, near surface 200 square meter IP chargeability anomaly approximately 350 meters to the east.

Drilling within the Cathedral South zone on Line 5200N focused on the following;

• 350m step out to the west of the Cathedral Main zone chargeability targeted the depth extent of north-south trending, west dipping sheeted-stockwork actinolite-magnetite-pyrite-chalcopyrite mineralization and the potential for porphyry related potassic alteration and mineralization at depth below pervasive surficial sodic to sodic-calcic alteration within an associated chargeability low.
  

A plan map and cross section of these holes with drill results are included below. See Figure 5 for plan view of relevant drill holes, and Figures 6 through 8 for cross-section view of the drill holes illustrating mineralized intercepts.

Interra's goals at the Cathedral Main, Cathedral South, and Valley Areas in 2021 included:

• confirming and expanding hidden copper and gold mineralization to the south, east, west and at depth from previous surface exploration programs;
• testing near sub-surface chargeability and resistive high and deeper resistive low targeted areas observed within the 2019 and 2020 IP programs; and
• drilling angled holes across interpreted porphyry related alteration and associated mineralization and structural zones.
  

A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f13b3d6-7aca-48cb-8914-fc1ac913f987

1. True widths of the reported mineralized intervals have not been determined.

2. Assumptions used in USD for the copper equivalent calculation were metal prices of $3.25/lb. Copper, $1,650/oz Gold, $20/oz Silver, and USD $40/ lb. Molybdenum. Recovery is assumed to be 100% / even par given no current metallurgical testing at Thane Property to date. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.74) + (Silver (g/t) x 0.0090) + (Molybdenum (ppm) x 0.0006)

Interra's Thane Property summer drill program results to date have confirmed:

• mineralization and associated alteration within the reported intervals above are hosted within the Thane Creek diorite (207 and 194Ma) and the Duckling Creek monzonite to syenite (182 and 175Ma) intrusive phases of the Hogem Batholith;
• porphyry related K-spar, lessor albite alteration and structurally controlled quartz-sulphide vein style mineralization is observed throughout the Cathedral Area;
• late phase tourmaline-quartz-pyrite veining and associated sericitic alteration may be potentially related to an overprinting upper alkalic-cap;
• Copper-gold mineralization is coincident with near sub-surface, sub-vertical to easterly dipping areas of moderate to high chargeability observed within the 2019 and 2020 IP programs;
• sub-vertical to westerly dipping resistive areas observed within the 2019 and 2020 IP programs appear associated with increased K-spar-quartz?albite alteration and silicified, interpreted south-southeasterly trending sub-vertical and shallow westerly dipping chloritic shear structures;
• sulphides of pyrite, chalcopyrite, molybdenite and localized arsenopyrite and bornite occur as quartz-sulphide veins (Figure 1), fractures and disseminations proximal to intrusive contacts (Figure 2) localized magnetite veins and breccias (Figure 3), and within silica?carbonate (calcite) healed and brecciated south-southeasterly trending subvertical to westerly dipping shear structures (Figure 4) proximal to intrusive contact margins;
• increased copper and gold grades on surface samples are frequently observed proximal to mapped diorite-(quartz) monzonite sheared contact margins
• both sulphides and areas with increased veining, brecciation and replacement magnetite are noted to correlate with areas of high chargeability and increased magnetic intensity within airborne magnetics;
• copper and gold mineralization at depth is at reduced grades to samples collected from the surface, which may be due to secondary supergene enrichment of the surface samples; and
• at least one phase of mineralization within Thane Creek and Duckling Creek suites of rocks may be related to a later intrusive phase within the batholith.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7c108173-a566-418f-a37e-af2b38c5d048

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The scientific and technical information disclosed in this news release was reviewed, verified, and approved by Christopher O. Naas, P. Geo., COO of Interra Copper Corp., who is a "Qualified Person" as defined in N.I. 43-101 regulations.

ON BEHALF OF Interra Copper Corp.

Jason Nickel, P.Eng.
Chief Executive Officer
Telephone: +1-604-754-7986
Email: CEO@interracopper.com

INVESTOR RELATIONS:

Email: invest@interracopper.com
Telephone: +1-604-588-2110
Website: https://interracopper.com

ABOUT INTERRA COPPER CORP.

Interra is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia. Utilizing its heavily experienced management team, Interra continues to source and evaluate assets to further generate shareholder value.

The Thane Property covers approximately 206 km² (50,904 acres) and is located in the Quesnel Terrane geological belt of north-central British Columbia, midway between the previously-operated open pit Kemess Mine and the current open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane Property includes several highly prospective mineralized areas identified to date, including the 'Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration on the Company's Thane Property, the submission of core samples and receipt of assays thereof. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.