Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") is pleased to announce that it intends to complete a fully subscribed non-brokered private placement ("Private Placement") of 3,041,397 flow-through shares of the Company (the "FT Shares", and each, a "FT Share") at a price of $0.29 per FT Share for aggregate gross proceeds of $882,005. There are no warrants associated with this financing. Subject to the receipt of all necessary regulatory and other approvals, the Company anticipates closing of the Private Placement to occur on or about December 15, 2023.

"This raise of flow through funds demonstrates a vote of confidence for our newly acquired Rip project and will allow us to significantly advance our exploration work and earn-in with ArcWest Resources in British Columbia," commented Interra Chairman and CEO Rick Gittleman.

Each FT Share will constitute a "Flow-through share" within the meaning of the Income Tax Act (Canada) (the "Tax Act") and the gross proceeds of the Private Placement will be used by the Company for exploration and related programs, which qualify as "Canadian exploration expenses" and "flow-through critical mineral mining expenditures", as such terms are defined in the Tax Act, in connection with Interra's projects in British Columbia. Subject to compliance with the policies of the Canadian Securities Exchange and applicable securities legislation, the Company may pay finder's fees in connection with the Private Placement.

All securities issued pursuant to the Private Placement will be subject to a statutory hold period under applicable Canadian securities laws of four months and one day from the date of closing of the Private Placement.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Interra Copper Corp.

Rick Gittleman
Interim CEO & Chairman

For further information contact:

Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com

Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the Private Placement, the receipt of all necessary regulatory and other approvals, and the use of proceeds from the Private Placement are forward-looking statements. 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. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Interra does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

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