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
[email protected]