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Carube Copper Adds Tony Manini and Yale Simpson to Board

Company Reports Results from AGM

Ottawa, Ontario--(Newsfile Corp. - June 16, 2017) - Carube Copper Corp. (TSXV: CUC) is pleased to report the appointment of two new directors at its Annual General and Special Meeting ("AGM") held in Carp, Ontario, on June 16, 2017.

Tony Manini is a geologist with over 30 years of diverse experience in the resource industry. His background covers a wide range of commodities in more than 20 countries and includes technical, commercial, senior management and executive roles in exploration, project evaluation, business development, strategy and operations with Rio Tinto, Oxiana - OZ Minerals, Tigers Realm Group and EMR Capital.

Tony is a founder and CEO of private incubator company, Tigers Realm Group and a co-founder of resource private equity firm, EMR Capital. Tigers Realm Group has listed three highly successful exploration companies, each of which has made a major discovery and is in studies and/or development stage (Tigers Realm Coal - ASX; Nexgen Energy - TSX and Asiamet Resources - AIM). He is currently Executive Chairman of Asiamet Resources Limited and an Executive Director of EMR Capital.

He has been closely involved in the discovery and development of the Sepon copper and gold mines in Laos, the early stage acquisition and development of the Prominent Hill IOCG copper-gold mine in South Australia, brownfields discoveries in the Golden Grove VHMS district in Western Australia and the discovery of the Okvau IRG gold district in Cambodia.

Yale Simpson is the Co-Chairman of Exeter Resource Corporation which has agreed to be acquired by Goldcorp in a transaction valued at approximately $247 million. He is a professional geologist with a Bachelor of Applied Science (Geological Engineering) from the University of British Columbia. Yale has more than 30 years' experience as a senior geologist, exploration manager and CEO of companies involved in precious metals projects in Australia, Africa, Eastern Europe and South America. Those companies include Pennzoil Company, Chevron Exploration, Australmin Holdings, Argosy Gold Mines and Black Swan Gold Mines Ltd. He was Co-chairman of Extorre Gold Mines Ltd., a successful spinout from Exeter, which was bought by Yamana Gold Ltd. in 2012. His particular expertise is in strategic resource planning, financing and corporate communications. Yale is currently a director of Rugby Mining Limited, and Chairman of Adamera Minerals Corp.

Results of Voting

More than 52% of the record date outstanding shares of the Company were represented at the meeting by proxy or in person. All of the matters submitted to the shareholders for approval set forth in the Company's Notice of Meeting and Information Circular dated May 1, 2017, were approved by more than 95% of votes cast; including the re-election of Alar Soever, Vern Rampton, Marz Kord, Jeffrey Ackert, Greg LeBlanc, and Mark Pfau as directors.

The appointment of PricewaterhouseCoopers LLP as auditors was confirmed unanimously.

The Stock Option Plan and the RSU/DSU Plan and the reservation for issuance of the maximum number of shares permitted under the plans were approved by 95% of the disinterested shareholders.

The officers of the company remain:

Mr. Alar Soever, P. Geol. Chairman of the Board, Independent Director
Mr. Jeffrey Ackert, B.Sc. (Geology) President and Chief Executive Officer, Director
Dr. Vern Rampton, Ph.D, P. Eng Executive Vice President of Corporate Development, Director
Mr. John McNeice, C.A., CPA. Chief Financial Officer
Mr. Chris Irwin, B.A., LL.B. Corporate Secretary and Counsel
Mr. Darrell Munro, BB.A, LL.B Corporate Administrator

Additional Corporate Information

In other corporate news, the company announced the award of 329,565 Restricted Share Units @ $0.115 per Unit to certain officers and consultants along with 250,000 common share purchase options @ $0.10 per share to each of Messrs. Manini and Simpson, valid until May 15, 2022. The company will also pay off certain indebtedness by issuing common shares at a deemed price of $0.115 per share in lieu of cash to Wallbridge Mining Company in the amount of $250,000 (2,173,913 shares) and Irwin Professional Corp in the amount of $50,000 (434,783 shares) thus enabling the company to immediately apply more resources to its aggressive drill programs in Jamaica. The settlements are subject to the approval of the TSX Venture Exchange and upon issuance, the shares will be subject to a four month hold period. 

Wholly Owned Projects

Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia. Carube is currently drilling on its Bellas Gate Project in Jamaica where it intersected over 300m of copper and gold mineralization in the summer of 2016.

Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • jackert@carubecopper.com
Vern Rampton, VP of Corporate Development • 1-613-839-3258 • vrampton@carubecopper.com

www.carubecopper.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARD LOOKING STATEMENTS

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".

IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf

Newsfile Corp.
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17 Oct
$CUC.CA Carube Copper Corp. files News Release on SEDAR https://t.co/Mmqj3pnflw
Newsfile Corp.
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17 Oct
$CARCF $CUC.CA Carube Copper Intersects Wide Zones of Copper Within a 5 Kilometre Long Mineralized Trend https://t.co/GZAbqXRnSt
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