Fabled Copper Corp. ("Fabled" or the "Company") (CSE:FABL)(FSE:XZ7) is pleased to announce that it has completed an initial closing of the non-brokered private placements (the "Offerings") announced in its press release dated April 12, 2023.

The Company issued (i) 3,255,000 conventional units (the "Conventional Units") at a price of $0.08 per Conventional Unit for aggregate gross proceeds of $260,400 and (ii) 350,000 flow-through units (the " Flow-Through Units") at a price of $0.10 per Flow-Through Unit for aggregate gross proceeds of $35,000.

Each Conventional Unit is comprised of 1 common share of the Company ("Common Share") and 1 Common Share purchase warrant (each, a "ConventionalWarrant"). Each Conventional Warrant entitles the holder thereof to acquire 1 additional Common Share at a price of CAD$0.12 per Common Share for a period of 24 months from the date of issuance.

Each Flow-Through Unit is comprised of: (i) 1 Common Share designated as a "flow-through share" (each, a " Flow-Through Share") under the Income Tax Act (Canada) (the "Act")); and (ii) 1 Common Share purchase warrant (each, a "Flow-Through Warrant"). Each Flow-Through Warrant entitles the holder thereof to acquire 1 additional Common Share at a price of CAD$0.15 per Common Share for a period of 24 months from the date of issuance.

The Flow-Through Warrants and Conventional Warrants are each subject to an acceleration right exercisable by the Company which will force their exercise should the Company's Common Shares trade at or above a volume-weighted average price of $0.20 on the TSXV for any 20 consecutive trading days following the closing date.

The gross proceeds from the issuance of the Conventional Units will be used for general working capital purposes and expenses. The gross proceeds from the issuance of the Flow-Through Units will be used for "Canadian Exploration Expenses" within the meaning of the Act (the "Qualifying Expenditures"), which will be renounced with an effective date no later than December 31, 2023 to the purchasers of the Flow-Through Units in an aggregate amount not less than the gross proceeds raised from the issue of Flow-Through Units.

In connection with the closing of this tranche of the Offerings, the Company paid finder's fee commissions in the aggregate amount of $17,724 and issued 120,000 broker warrants (each, a "Broker Warrant"). The Broker Warrants have the same terms as the Conventional Warrants.

The Offerings are subject to the receipt of all necessary approvals, including the final acceptance and approval of the CSE.

All securities issued pursuant to this tranche of the Offerings are subject to the statutory hold period that expires four months and one day from their issuance, being September 26, 2023.

The Company wishes to announce that the Offerings will, subject to the approval of the CSE, remain open for an additional 45 days from the date of this press release, being July 10, 2023.

Resignation of Director

The Company also reports the resignation of David W. Smalley as Chairman and Director of the Company effective May 19, 2023. Mr. Smalley resigned due to constraints on his personal time and in order to concentrate on other opportunities.

About Fabled Copper

Fabled is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing drill ready copper properties located in northern British Columbia.

The Company's current property package consists of the Muskwa Project and the Bronson Property and comprises approximately 16,219 hectares in three non-contiguous blocks and located in the Liard Mining Division of British Columbia. The Company is seeking to broaden and diversify its portfolio. To this end it has added two lithium claims (the VOLT 2 Property) in Miquelon, Quebec to its land package and is seeking to add both the OHM Property and the VOLT 1 Property, each lithium properties, located in the Val D'Or and Miquelon areas of Quebec respectively. The Company is also seeking to add an additional high grade gold and silver property, the TJ Ridge Property in British Columbia for which it has entered into a letter of intent.

Mr. Peter J. Hawley, President and C.E.O.
Fabled Copper Corp.
Phone: (819) 316-0919
peter@fabledcopper.org

For further information please contact:

info@fabledcopper.org