Granite Creek Obtains Securityholder Approval for Arrangement

Vancouver, British Columbia--(Newsfile Corp. - August 5, 2025) - Granite Creek Copper Ltd. (TSXV: GCX) ("Granite Creek") is pleased to announce securityholder approval of its previously announced plan of arrangement (the "Arrangement"), pursuant to which, among other things, Cascadia Minerals Ltd. ("Cascadia") will acquire all of the issued and outstanding common shares of Granite Creek (the "Granite Creek Shares"), following a vote at the special meeting of Granite Creek's securityholders held on August 5, 2025. At the meeting, Granite Creek securityholders voted approximately 92% in favour of the Arrangement.

The Arrangement remains subject to obtaining a final order from the Supreme Court of British Columbia approving the Arrangement, and the satisfaction of certain customary closing conditions. It is currently expected that the transaction will close on or about August 13, 2025.

In accordance with the policies of the TSX Venture Exchange, Granite Creek also provides the following disclosure with respect to its previously announced non-interest bearing bridge loan (the "Bridge Loan") from Cascadia. Cascadia provided Granite Creek with the Bridge Loan in the principal amount of $375,000 to finance transaction expenses incurred in connection with the Arrangement. The Bridge Loan is evidenced by two tranches of promissory notes issued by Granite Creek to Cascadia, consisting of (i) a first tranche promissory note in the amount of $125,000 dated June 18, 2025, and (ii) a second tranche of promissory note in the amount of $250,000 dated June 27, 2025. The Bridge Loan has a term of one year and includes a conversion right whereby Cascadia may convert all or a portion of the outstanding principal amount into Granite Creek Shares at a price per Granite Creek Share of $0.05. The Granite Creek Shares underlying the promissory notes are subject to a hold period of four months and one day from the date of the issuance of each respective promissory note.

Shares for debt transaction.

In accordance with the policies of the TSX Venture Exchange, Granite Creek also provides the following disclosure with respect to its previously announced settlement of an aggregate of approximately $521,000 of indebtedness owing to TruePoint Exploration Inc. ("TruePoint") and a Carmacks North royalty holder in exchange for Granite Creek shares (the "Shares for Debt Transaction"). Pursuant to the Shares for Debt Transaction, Granite Creek issued an aggregate of 13,265,705 Granite Creek shares at a price of $0.04 per share. The shares will be exchanged for Cascadia shares pursuant to the Arrangement.

TruePoint is a privately held exploration service company that provides exploration and administrative services to Granite Creek. Granite Creek's indebtedness to TruePoint relates primarily to certain long-term loans (the "TruePoint Loans"), and also includes certain current accounts payable owing to TruePoint for past services rendered. The TruePoint Loans in the amounts of $100,000 and $257,286.78 were advanced to Granite Creek on February 5, 2020 and February 28, 2023, respectively, to pay certain outstanding debts and bore interest from the date of advance at a rate of 5% per annum.

Following the Shares for Debt Transaction, TruePoint holds 11,515,705 Granite Creek shares, representing approximately 5.43% of the outstanding Granite Creek shares following issuance.

About Granite Creek

Granite Creek is a growth stage exploration company, focused on the acquisition and development of exploration properties that host, or have the potential to host, precious base or battery metals. GCX's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada. The project is located south and within 35km of the formerly producing Minto mine.

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.

Cautionary note regarding forward-looking statements:

This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia and Granite Creek undertake no obligation to update forward-looking information, except as required by securities laws.

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