Diamond Drilling Commences at Bell Copper's Perseverance Porphyry Copper Project in Arizona, USA

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2021) - Bell Copper Corporation (TSXV: BCU) (OTCQB: BCUFF) ("Bell Copper" or the "Company") is pleased to report the recommencement of diamond drilling at the Perseverance porphyry copper project, located in northwestern Arizona, USA. The Perseverance project is under a Joint Venture - Earn In with Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF).

Highlights:

• Assay results from drill hole K-20, drilled in late 2018, to a vertical depth of 1,319 metres, returned anomalous copper values averaging 415 ppm copper over 595 metres (using a 200 ppm copper cut-off grade), beginning at a depth of 683 metres (refer to news release dated May 21, 2019). This long intercept of anomalous copper indicates that the hole intersected the low grade, peripheral envelope to a porphyry copper system.
  
  
• Magneto-telluric ("MT") data collected to date have defined two low resistivity anomalies of less than 10 ohm-m located to the north and to the east of drill hole K-20. A low resistivity anomaly of less than 14 ohm-m is a characteristic feature of the giant, high-grade Resolution porphyry copper deposit in Arizona owned by Rio Tinto and BHP.
  
  
• An initial two diamond drill hole program is underway to test the Northern MT anomaly.

Bell Copper President & CEO Dr. Tim Marsh stated- "The coming few months at Bell Copper are expected to be the most exciting that our company has seen. Bell now has drills turning at both Perseverance and its 100% owned Big Sandy project here in Arizona. I believe that there is no other junior explorer who stands on the cusp of demonstrating two porphyry copper deposits, each of potential global significance. Ultimately the drill will determine our success, and I like our chances."

K-20 Suggested Proximity to Porphyry Copper System

Bell Copper previously reported that diamond drill hole K-20 was halted at a depth of 1,319 metres (refer to news release dated February 25, 2019). Assay results from drill hole K-20, drilled vertically to a depth of 1,319 metres, returned anomalous copper values averaging 415 ppm copper over 595 metres (using a 200 ppm copper cut-off grade), beginning at a depth of 683 metres. This long intercept of anomalous copper indicates that the hole intersected the peripheral part of a porphyry copper system (refer to news release dated May 21, 2019).

Magneto-Telluric Survey

In early 2020, Quantec Geoscience was contracted (see news release dated January 20, 2020) to conduct a Spartan Magneto-telluric ("MT") survey over the Perseverance project area to extend a previous Quantec Titan MT survey conducted in 2017 for a previous JV operator. The previous Titan survey indicated a deep 50 ohm-m conductor trending NE towards the K-20 drill hole (refer to news release dated May 21, 2019). With the combination of the trending deep MT anomaly and the 595 metres of anomalous copper in K-20, Bell Copper believed a porphyry centre could lie to the NE of K-20.

Quantec had surveyed 52 sites spaced approximately on 500 metre centres when the survey was suspended due to the start of the COVID-19 pandemic. While the full extent of the planned survey was never completed, the smaller survey covering 16 square km succeeded in defining two low resistivity anomalies of less than 10 ohm-m - comparable to the giant, high-grade Resolution porphyry copper deposit near Superior, Arizona (Figure 3).

The larger of the two anomalies, designated the Northern MT feature, is centred 1.5 km north of K-20 while the slightly smaller Eastern anomaly is centred 2.3 km east of K-20 (Figure 1). The anomalies both initiate at basement contact with the valley fill approximately 300 metres below surface and extend over 1 km vertically down in bedrock (Figures 2 & 6). A horizontal MT conductor also lies along the bedrock surface at the base of valley fill and could represent groundwater pooled at the top of the bedrock surface. The Company believes the cause of the vertical, bedrock MT anomaly may be conductive porphyry-style alteration and mineralization similar to the MT anomaly that caps the Resolution deposit (Figure 3).

Drilling

Diamond drilling has commenced with an initial 2-hole program to test the Northern MT anomaly. The first hole K-21 (Figures 1, 2 & 4) is centred on the 2 km long Northern MT anomaly with the second hole, pDDH21-02 targeting a 400 meter step to the north; as shown in Figures 1, 2 & 5). With positive results, a total of 6 additional holes are planned in the future for the Northern anomaly on approximately 400 metres centres to delineate the extent of the MT feature. Drilling on the Eastern anomaly will be predicated on the success of the Northern program.

Figure 1: Plan of Spartan MT results depicting resistivity contoured in ohm-metres with two initial drill holes planned for 2021 highlighted in yellow: K-21 & pDDH21-02

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_001full.jpg

Figure 2: Longitudinal section looking east illustrating 400 metres spaced drill sections to test 2 km long MT anomaly with the initial planned drill holes pDDH21-01 & 02 highlighted.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_002full.jpg

¹ Witherly, K., 2014, Geophysical Expression of Ore Systems - Our Current Understanding: Society of Economic Geologists, Special Publication 18, pp 177-208. Note horizontal MT conductor at base in the Tertiary Whitetail Conglomerate overlying the Cretaceous Volcanic and Epiclastic Rocks. The centre of the low resistivity corresponds to Quartz, Sericite and Advanced Argillic alteration at the top of high grade core (>1%Cu) and extends down into the core of the ore body. Heinke et al, 2012, Geology and Exploration Progress at the Resolution Porphyry Cu-Mo Deposit, Arizona: Econ Geology Special Volume 16 pp 147-166.

Figure 3: MT section through Resolution

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_003full.jpg

Figure 4: MT cross section looking North, illustrating new hole K-21 being drilled to test the centre of the low resistivity MT anomaly below inferred water table.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_004full.jpg

Figure 5: Proposed pDDH21-02 is 400m north of K-21 with future hole pDDH-04 dependent on positive results.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_005full.jpg

Figure 6: East-West vertical section of 3D inverted MT data with proposed future drill holes in 2022 testing both the Northern and Eastern MT anomalies. Note Inferred bedrock surface with possible conductive water table on top of bedrock surface.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/2825/100151_81f07ee1f45a1bdf_006full.jpg

Qualified Person

The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng., the Company's CEO and President and a 'Qualified Person' as defined under Canadian National Instrument 43-101.

About Bell Copper

Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in Arizona. Bell Copper is exploring its 100% owned Big Sandy Porphyry Copper Project and the Perseverance Porphyry Copper Project which is under a Joint Venture - Earn In.

On behalf of the Board of Directors of
Bell Copper Corporation

"Timothy Marsh"

Timothy Marsh, President, CEO & Director

For further information please contact the Company
Tel: 1 800 418 8250
Email: info@bellcopper.net

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 release.

Forward Looking Statements

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation, including, but not limited to, the ability of Bell to identify a mineral resource at the Perseverance or Big Sandy Projects. There is no certainty that the present exploration effort will result in the identification of a mineral resource or that any mineral resource that might be discovered will prove to be economically recoverable. All statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Bell Copper operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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 include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100151