Axo Copper Corp. Files Preliminary Prospectus for Proposed C$15 Million IPO Offering of Common Shares

Axo Copper Corp. ("Axo" or the "Corporation") is pleased to announce that it has filed a preliminary prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in each of the provinces of Canada, other than Québec, for a proposed C$15,000,000 initial public offering (the "Offering") of common shares of the Corporation (the "Shares"). The number of Shares to be sold and the offering price of the Shares has not yet been determined.

The Offering will be made through a syndicate of underwriters (the "Underwriters") led by Stifel Nicolaus Canada Inc. as sole bookrunner. The Corporation will grant the Underwriters an over-allotment option exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Shares sold in the Offering on the same terms and conditions as the Offering. Axo has applied to list the Shares on the TSX Venture Exchange ("TSXV"). The TSXV has provided their conditional approval for the listing of the Shares.

The Preliminary Prospectus contains important information relating to Axo, the Shares and the Offering and is still subject to completion or amendment. Copies of the Preliminary Prospectus are available under Axo's profile on SEDAR+ at www.sedarplus.ca. There will not be any sale or any acceptance of an offer to buy the Shares until a receipt for the final prospectus has been issued by the relevant securities commissions or authority in Canada.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Axo in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the "United States" (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act or pursuant to exemptions from the registration requirements of the U.S. Securities Act, and in compliance with all applicable U.S. state securities laws.


About Axo

Axo Copper Corp. is a Canadian mineral exploration company engaged in the exploration and development of the La Huerta Project, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-grade copper both at surface through sampling programs, and at depth through initial drilling. The Corporation is focused on continuing to define near-surface mineralization along the La Huerta Trend, expanding mineralization at depth, and targeting new discoveries in an underexplored district.

Additional information can be found at the Corporation's website: www.axocopper.com.



For further information, please contact:

Axo Copper Corp.
Jonathan Egilo, President and CEO
613 882 5126
egilo@axocopper.com



CAUTIONARY STATEMENT:

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Offering, the Corporation's plans in respect of the La Huerta property and receipt of all necessary regulatory approvals, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "will", "propose", "may", "is expected to", "subject to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective", "focus" and "outlook" and other similar words. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the offering price and final terms of the Offering will be finalized in a timely manner and on acceptable terms; that an underwriting agreement in respect of the Offering will be entered into; that all conditions precedent to the completion of the Offering (including the receipt of all requisite regulatory approvals) will be satisfied in a timely manner; general business and economic conditions will not change in a materially adverse manner; the potential of high grade copper mineralization at Axo's properties; the results (if any) of further exploration work to define and expand mineral resources; the ability of exploration work (including drilling) to accurately predict mineralization; and the ability to generate additional drill targets. Although Axo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, 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 Axo's expectations include delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to enter into an underwriting agreement in respect of the Offering or satisfy closing conditions in respect of the Offering, risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility including as a result of tariffs, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Axo with securities regulators.Axo disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Not for distribution to U.S. news wire services or dissemination in the United States.

SOURCE: Axo Copper Corp.