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CARUBE COPPER MAKES EXCITING COPPER GOLD DISCOVERY

Carube Copper Corp. (CUC.V) has released its recent initial drill results from the Bellas Gate and Above Rocks joint ventures in Jamaica. The 2016 exploration programs at both JVs are being operated by OZ Minerals Ltd., a $1.9-billion Australian copper producer.

Highlights of recent drilling

Drilling at Bellas Gate is presently focused on the Provost Prospect where initial drilling yielded:Hole PVT-16-002 — 339m of 0.34% CuEq, including 10m of 1.79% CuEqHole PVT-16-001 — 82m of 0.46% CuEq, including 29m of 0.63% CuEq

Drilling at Above Rocks is presently focused on the Job’s Hill Prospect, where high grade copper oxide had previously been identified over a 45 metre by 600 metre surface area; initial drilling yielded: Hole JBH-16-001 — 5m of 0.87% CuEq and 3m of 0.48% CuEqJeff Ackert, President and CEO of Carube Copper stated: “Results from the new discovery at Provost are extremely encouraging as they show near surface to end of hole copper and gold mineralization situated within the five-kilometre long Porphyry Alley trend from Camel Hill, to Provost and on to Hendley. I believe that we have identified a large and significant copper-gold porphyry system with this discovery.”Cannot view this image? Please visit https://orders.newsfilecorp.com/files/2661/21739_a1469200420764_85.jpg to view this imageFigure 1: Location of the Provost Prospect and Lucky Valley Prospect within the NW Trending Alteration Zones at the Bellas Gate Joint Venture.

Bellas Gate Drilling

At the Provost Prospect, a total of 728 metres in 3 holes has been completed with another hole in progress. Provost is a copper-gold porphyry target, located on the five kilometer long prospective Southern Alteration Zone and Porphyry Alley trend hosting numerous copperplus or minusgold porphyry systems. Soil geochemistry has defined a 400m by 400m copper in soil anomaly where strong to intense density of stockwork veining in volcanic rocks including quartz “A-veins” in malachite-mineralized outcrop are present. A recent ground Induced Polarization (IP) geophysical survey is also coincident with the mapped alteration and copper in soil anomaly.

There has been no historic drilling on this prospect, but Hole PVT-16-001 intersected copper mineralization from 29m downhole to the end of the hole at 111m. It was stopped in mineralization and abandoned due to drilling difficulties. Hole PVT-16-002 intersected copper mineralization from 29m downhole to the end of the hole at 368.15m with anomalous copper values to the end of the hole.

At the Lucky Valley Prospect one hole was drilled where an intrusive complex has been interpreted to be analogous to the Connors porphyry complex. Multiple phases of intrusions, including quartz-feldspar porphyry with strongly sheeted quartz +/- magnetite veining, have been identified in field mapping; individual rock samples yielded up to 0.44% Cu and 0.67g/t Au. A zone of anomalous Cu in soil measuring 200m by 400m has been identified in an area of poor outcrop. Assays are pending for hole LKV-16-001.

At the Provost Southeast Prospect at least one drill hole is planned. Soil sample data outlines an anomalous copper zone 600m long by 100 to 200m wide. Provost Southeast is some 800m southeast of Provost.

The Calabash Ridge Prospect is new and has been identified by surface mapping and sampling and has been upgraded in priority with the completion of the IP survey. It has been brought to the drill-ready stage and will be drilled later this quarter. Calabash Ridge is situated between the Connors Porphyry Complex and the new discovery at Provost.

Table 1: Summary of Most Recent Drilling Intersections from the Bellas Gate and Above Rocks Joint Ventures.

Joint VentureProspect    Hole Name           From (m)  To (m)   Interval (m)Cu (%)Au (g/t)CuEq (%)
 Bellas Gate Provost     PVT-16-001*            29   111.1 (EOH)    82.1     0.37   0.16    0.46  
                           including            61      111.1       50.1     0.4    0.19    0.51  
                                 andincluding   82      111.1       29.1     0.49   0.24    0.63  
             Provost     PVT-16-002             29   368.15(EOH)   339.15    0.28   0.12    0.34  
                           including            80       93          13      0.41   0.16    0.50  
                           including           138       148         10      1.28   0.90    1.79  
                           including           189       204         15      0.38   0.24    0.52  
             Provost     PVT-16-003                          Drilling in progress                 
             Lucky ValleyLVY-16-001                             Assays awaited                    
                                                                                                  
 Above Rocks Jobs Hill   JBH-16-001            160       163         3       0.48    0      0.48  
                                 and           179       184         5       0.87    0      0.87  
             Jobs Hill   JBH-16-002                             Assays awaited                    

*Note: Hole was abandoned before target depth due to technical issues. EOH — End of Hole.

The intervals do not necessarily indicate true width of mineralization, as its geometry is not known. Copper equivalents are calculated using a US $3.00/lb. copper and a US$1200 per ounce gold price assuming unlimited internal dilution and 100% recovery of both metals.

Above Rocks Drilling

At the Jobs Hill Prospect one hole has been drilled for 237 metres while a second is currently being completed. The results of the first hole are reported in Table 1. Jobs Hill has extensive copper oxide showings and numerous exposures of malachite with good gold credits. It is hosted in a northeast trending structural zone, is at least 600m long and 45m wide and is open to the southwest. Drilling has indicated an intensely sheared contact zone between fine-grained volcanic flows and coarse-grained volcaniclastic rocks. Mineralization is comprised of chalcocite with occasional chalcopyrite and bornite. Two narrow zones of copper mineralization were encountered at depth. The second hole (results pending) was drilled beneath surface trench with visible chalcopyrite, bornite, azurite and malachite.

At the Bellas Gate JV the drilling is being fully funded by OZ Minerals under Phase 5 of the JV, which includes all work to the completion of a feasibility study. At the Above Rocks JV, this drilling campaign is part of the ARJV’s Phase One exploration program, which will enable OZ Minerals to earn 40% of the project by sole funding $500,000 in exploration expenses.

Sample Preparation, Analysis and Quality Control: For a description of these items as pertaining to drill core and soil samples please see disclosure in press releases of January 14, 2015 and October 2, 2014. OZ Minerals, Carube Copper and Activation Laboratories all have robust sample security and quality control programs in place for samples collected in Jamaica.

This press release has been reviewed and approved by Dr. Vern Rampton, P. Eng., in his capacity as a qualified person as defined under NI 43-101.