Vancouver, British Columbia--(Newsfile Corp. - October 7, 2026) - Burrell Resources Inc. (CSE: BURY) ("Burrell" or the "Company") is pleased to announce that, through its wholly-owned subsidiary Burrell Resources NV Inc., it has entered into an option agreement (the "Agreement") with Turner Exploration, LLC, a private arms-length company (the "Optionor") to acquire up to a 100% interest in the Rainmaker copper project (the "Rainmaker Project" or the "Property"), a porphyry copper exploration property located in Lyon County, Nevada, U.S.A.

Highlights

• District-scale copper opportunity: The Rainmaker Project lies approximately 25 kilometres south of the Yerington Copper District, a major porphyry copper district in western Nevada, and is interpreted to be geologically analogous to that district.

• Compelling drill target: The Property's Ridge target features a 2.5 by 1.5 kilometre exposure of porphyry-related hydrothermal alteration — the style of alteration that typically forms above a copper ore shell — and is large enough to host a large-tonnage copper porphyry deposit. The target is conceptual in nature.

• Path to 100% ownership: Burrell can earn full title to the Property by making staged option payments, subject to a retained net smelter returns ("NSR") royalty in favour of the Optionor, and completion of work commitments.

• Fully scoped work program: An initial exploration program is planned, culminating in the Property's first-ever drill test.

• Project discovery: Veteran exploration geologist Tom Turner recognized Rainmaker as a copper porphyry prospect and has geologically and geochemically mapped the property. Mr. Turner has multiple discoveries to his credit including the Peñasquito deposit (Mexico) which was purchased by Glamis Gold (now Newmont). Mr. Turner will serve as Burrell's technical advisor.

The Rainmaker Project

The Rainmaker Project is situated in the Walker Lane, a tectonic structural belt along the southwest margin of the Nevada Basin and Range terrain — one of the world's premier metallogenic provinces. The Property lies approximately 25 kilometres south of the Yerington Copper District, which has a long history of production from copper porphyry and skarn deposits. The Yerington District hosts the Yerington, Ann Mason and Bear porphyry deposits, the Pumpkin Hollow skarn deposit and several high-grade skarn deposits in the Mason Graben. Management considers the Rainmaker Project to be geologically analogous to Yerington's Mason Graben and to be prospective for both copper porphyry and skarn mineralization. 

Rainmaker sits in a 5-kilometer wide northeast-striking graben of Triassic mafic volcanic rock that was faulted into the Jurassic Shamrock Batholith. Intense phyllic and lesser argillic alteration is well developed in nearly all of the exposed mafic volcanic rock with associated phyllic-altered to silicified porphyry dikes. This alteration style is characteristic of the upper levels of a porphyry system. The prospective rocks are locally overlain by post-mineral Tertiary volcanic and alluvium cover.

Figure 1: Location of the Rainmaker Project, Lyon County, Nevada, relative to the Yerington Copper District and the Walker Lane belt.

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The key geological attributes of the Rainmaker Project supporting its copper porphyry potential include:

• Location within the mineral-rich Walker Lane.

• A batholith-hosted copper porphyry setting.

• An extensional northeast-trending graben host that is a geologic twin to the smaller Mason Graben, Yerington District.

• The high iron content of the volcanic host rock is favorable for above average copper grade mineralization.

• The exposed hydrothermal alteration typically occurs above the porphyry copper ore shell.

• There are numerous copper showings across the Property.

• Arroyo (drainage) multi-element geochemical anomalies, many of which originate in the Ridge target area.

Exploration Program

Exploration will focus on the Ridge target, where porphyry-related hydrothermal alteration crops out over a 2.5 by 1.5 kilometre area that is of sufficient size to potentially host a large tonnage porphyry copper system. Additional prospects have also been identified for follow-up exploration surveys.

Burrell intends to fund and complete the initial exploration program to advance the exploration targets through to drill testing. Key components include:

• Additional claim staking has been completed to cover the projected extent of alteration beneath post-mineral cover and to provide a buffer around the known mineral occurrences.

• A drone-borne magnetometer survey to be completed over Rainmaker's area of interest.

• An induced polarization (IP) geophysical survey to be completed across the known targets.

• A reverse-circulation (RC) drilling program to test the Ridge target and any targets defined by the geophysical surveys, subject to receipt of the required drill permit.

Terms of the Transaction

Under the Agreement, Burrell has been granted the sole and exclusive option to purchase the Property and, upon completion of the option payments and work commitments, to acquire 100% title, subject to the retained royalty as described below. All dollar figures in this news release are in U.S. dollars unless otherwise stated.

Option Payments

Burrell may earn 100% title by making option payments to the Optionor totalling $900,000, including an initial $25,000 payment, and fulfilling work commitments totalling $5,000,000, both over an approximate six-year period. Burrell may accelerate these payments at its sole discretion to exercise the option early.

Milestone Payments

In addition to the option payments, Burrell will make certain milestone payments totalling $1,500,000, payable at Burrell's election in cash or up to 80% in common shares of the Company (priced at the 20-day volume-weighted average trading price prior to the milestone being achieved). The milestones include the delivery of a compliant NI 43-101 report on a maiden resource.

Royalty

The Optionor will retain a 1.5% NSR royalty on the Property. Burrell has the option to buy back 1.0% of the NSR reducing the royalty to 0.5%, for an aggregate of $1,500,000.

A finder's fee of 200,000 common shares to arms-length third parties is payable on this transaction, which is subject to a four-month statutory hold period.

The Property comprises 77 unpatented lode mining claims held by the Optionor in Lyon County, Nevada.

The transaction, including all securities issuable thereunder, remains subject to the acceptance of the Canadian Securities Exchange (CSE).

Qualified Person

Lawrence O'Connor, RM-SME, a director of the Company and a "qualified person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. O'Connor is not independent of the Company.

About Burrell Resources Inc.

Burrell Resources Inc. is a mineral exploration company listed on the Canadian Securities Exchange under the symbol "BURY". The Company is focused on the acquisition and exploration of prospective copper and precious metal projects in Nevada. More information can be found at www.burrellresources.com.

Cautionary Note Regarding Adjacent and Nearby Properties

This news release contains information regarding mineral deposits and mining operations (including the Yerington Copper District generally) located on properties adjacent to, or in the vicinity of, the Rainmaker Project but which are not owned or controlled by the Company. Mineralization on such neighbouring or nearby properties is not necessarily indicative of mineralization on the Property. The Company has not verified, and cannot rely upon, the geological information from such adjacent or nearby properties. There is no assurance that any mineralization will be encountered on the Property, and readers are cautioned that the Rainmaker Project does not host any mineral resource or mineral reserve. The exploration targets described in this news release are conceptual in nature and should not be construed as an estimate of a mineral resource or mineral reserve.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding the completion and terms of the option transaction, the Company's planned exploration program and expenditures, the timing and success of permitting and drilling, the prospectivity and geological potential of the Rainmaker Project, and the Company's ability to make the required option, milestone and royalty payments. Forward-looking information is based on assumptions and is subject to known and unknown risks and uncertainties — including exploration risk, title risk, permitting and regulatory risk, financing risk, commodity price risk and the risk that the option may not be exercised or that title may not be acquired — that could cause actual results to differ materially from those expressed or implied. Such information is provided as of the date of this news release and, except as required by law, the Company undertakes no obligation to update it. Readers are cautioned not to place undue reliance on forward-looking information.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release, and neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

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Source: Burrell Resources Inc.