CAVU Intersects Copper-Bearing Skarn at Hopper Copper-Gold Project and Updates on Current Drilling Program

Vancouver, British Columbia--(Newsfile Corp. - July 19, 2021) - CAVU Mining Corp. (CSE: CAVU) (FSE: 8NQ) ("CAVU" or the "Company"), reports that approximately 250 meters has been drilled in 3 holes on the Hopper Copper-Gold Project in Yukon prior to a temporary pause in drilling due to a posed safety risk to personnel from a forest fire in the area. The crew has been temporarily moved to Whitehorse, Yukon and the Company expects the drilling program to commence shortly after receiving clearance from the local authorities. The Hopper Property is in the traditional territory of the Champagne Aishihik First Nations.

Highlights:

• 250 meters of diamond drilling has been completed
• The EM anomaly that was targeted with hole 1 - 3 is associated with semi-massive sulphides
• First skarn horizon was intersected from 57 to 66.8m in hole HOP21-DDH-01
• The Franklin skarn in hole 1 is mineralized over 5.8m (<1% to 20% copper sulphides¹)
• The Franklin skarn in hole 1 contains up to 8% copper sulphides over approximately 2m from 63.5 - 65.5m

"We are nearing the completion of the first three holes in the Franklin skarn," stated Jaap Verbaas, CEO of CAVU. "On the evening of July 17, one of our crew spotted a forest fire in the vicinity of our camp. After we assessed the size and risk posed by the fire to our crew, the decision was made to move our personnel to Whitehorse. The fire has so far not affected CAVU's personnel, camp, or equipment. Neither CAVU personnel nor the Company's contractors were involved in starting the fire and the Company is working with local authorities to identify its source and origin. Drilling activities have been temporarily paused as we wait for approval and guidance from the Yukon Fire department to resume our drilling program safely. We are currently on standby and eager to get back to site."

Figure 1. Chalcopyrite and pyrrhotite in skarn in hole HOP-DDH21-01 from 64.25 to 64.451m.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7764/90689_d68e4c57b40eba16_001full.jpg

The EM anomaly targeted with HOP-DDH21-01, 02 and 03 appears to be caused by massive magnetite-pyrrhotite-chalcopyrite skarn. The skarn is approximately 10m thick and contains local copper mineralization. This anomaly is largely undrilled and continues 500m to the south from hole HOP-DDH21-01.

Drill Hole Coordinates Table for Holes 1-5

*UTM zone NAD83/8N

Data Verification

The drill samples will be sent to MS Analytical Langley, an ISO 9001:2008 certified laboratory for analysis along with certified blanks, standards and field duplicates inserted by the Company for QAQC. The information presented above is based on recently drilled core which has been mineralogically assessed by geologists on-site.

Qualified Person

Jeremy Hanson, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within the news release.

About CAVU Mining Corp.

CAVU Mining Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its flagship Hopper Copper-Gold Project in the Yukon and continues to evaluate complimentary mineral projects in mining-friendly jurisdictions.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Mining Corp.
[email protected]
604-493-2997

Forward Looking Statements

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. 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 the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission and the Ontario Securities Commission.

¹ Visible copper sulphide in the mineralized zone consists of chalcopyrite. Chalcopyrite comprises 34.63% copper.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90689