CAVU Energy Metals Extends Porphyry Propylitic Zone by 400m and Reports 0.348% Cu over 31.82m at Hopper Project, Yukon

Vancouver, August 2, 2022 - CAVU Energy Metals Corp. (CSE: CAVU) (OTCQB: CAVVF) (FSE: 5EO) ("CAVU" or the "Company") is pleased to report additional results from the 2022 diamond drilling at its road-accessible Hopper Copper-Gold porphyry project in Yukon, Canada. The Hopper Project is located in the Traditional Territory of the Champagne and Aishihik First Nations.

Highlights

• Hole HOP22-DDH04 extends the known propylitic zone of the porphyry target by 400m.
• Mineralization occurred throughout hole HOP22-DDH04 with assay intervals including:
  • 0.106% Cu over 306.75m from 25.25m until EOH;
  • 0.348% Cu over 31.82m from 163m, including 3.63% Cu over 2m; and
  • 0.442% Cu over 15.56m from 267.44m.
• The highly enriched background values in the propylitic zone of HOP22-DDH04 and the higher-grade intervals within that zone are indicative of a significant porphyry copper system hosted within the Hopper Intrusive Complex.

"The results from HOP22-DDH04 clearly indicate the presence of a large propylitic zone, the type of alteration that commonly forms halos around the mineralized centres of porphyry systems," stated Dr. Jaap Verbaas, CEO of CAVU. "It is encouraging that we intersected several higher-grade zones within the propylitic zone at Hopper because typically this type of porphyry alteration zone contains only small amounts of copper and the richer mineralization usually occurs closer to the core of the system. Alteration zones in porphyry copper systems normally form well-defined patterns and these patterns can be used to vector in on the mineralized core. We are seeing all the right ingredients for a substantial porphyry copper discovery on the Hopper Copper-Gold Porphyry project."

Context of HOP22-DDH04
Hole HOP22-DDH04 was collared roughly 400m east-northeast of HOP21-DDH06 which returned 116.18m at 0.21% Cu^[1] from surface before intersecting roughly 200m of unmineralized dikes and intrusive phases. HOP21-DDH06 proved the presence of porphyry-style mineralization within alteration typical of porphyry deposits. However, it also showed that the Hopper Intrusive Complex contains unmineralized intrusive phases. The presence of unmineralized intrusive phases and later dikes complicates targeting but is a common feature of large porphyry systems.

Hole HOP22-DDH04 intersected various intrusive phases of the Hopper Intrusive Complex from 25.25m onwards until the end of hole at 332m with enriched background content of copper (0.106% Cu over 306.75m). Strong to locally intense propylitic alteration occurs over the entire intersect with intervals of increased mineralization in veins (Figure 1). These are characteristic features of an outer envelope to a large porphyry system. The vein-hosted mineralization also included an isolated occurrence of secondary biotite (Figure 1), indicative of potassic alteration more central to a porphyry system. The hole contains several sections with higher copper and silver grades of up to 0.442% Cu and 2.57 g/t Ag over 15.56m (Table 1).

Figure 1. Top left: quartz-carbonate-chalcopyrite vein in propylitic alteration at 173m. Centre left: banded chalcopyrite-biotite-quartz-carbonate vein with vein-controlled potassic alteration at 279m. Top right: banded vein with chlorite-chalcopyrite (top) and quartz-pyrite (bottom) in intensely propylitic altered host rock at 192m. Bottom: pyrite-chalcopyrite-quartz vein at 192.5m.

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Drill results

Table 1. Drill highlights from HOP22-DDH04.

¹This intersect contains two unsampled intervals from 218.73m to 234.14m and from 236.45m to 239.56m for which metal values were assumed to be nil.

Table 2. Collar information as surveyed by differential GPS.

Data Verification
Drill core was halved on site. One half of the drill core remains on site in a core storage facility. The other half of the core was bagged and security tagged and sent to ALS Laboratories for multi-element chemical analysis and assay. Upon receipt of the samples CAVU's QAQC protocol flags any sets of samples that may not meet standards for disclosure, which are then sent back to the laboratory for re-assay. All assays reported here passed ALS and CAVU QAQC protocols.

QP Statement
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 Energy Metals Corp.
CAVU Energy Metals 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 and recently acquired Star Copper-Gold Porphyry Project in BC. For more information visit www.cavumining.com

On behalf of the board of directors,
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Energy Metals 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 from prior to 2022 were described in: "Technical Report on the Hopper Project in the Dawson Range Copper-Gold belt, Aishihik Lake area, Yukon Territory, Canada." By Jean Pautler, February 12, 2022.

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