Update on Filing of 1Q Financial Statements

VANCOUVER, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) -- Northisle Copper and Gold Inc. (TSX-V:NCX) (“Northisle” or the “Company”) announces that as a result of the COVID-19 pandemic, Northisle experienced delays in the completion of its audited year end financials (now available on SEDAR) and a corresponding delay in the preparation of its first quarter financials and Management Discussion and Analysis. In response to similar issues experienced by other businesses, the Canadian Securities Administrators granted blanket relief for all market participants, providing up to a 45-day extension for periodic filings normally required to be made on or before May 30, 2020.

In accordance with the blanket relief, the company will delay the filing of its first quarter financial statements for the three months ended March 31, 2020, the management's discussion and analysis for the corresponding period, and related management certifications of interim filings.

The company intends to file these documents prior to mid-July under the terms of the 45-day extension announced by the B.C. Securities Commission under BCI 51-515, dated March 23, 2020.

Until such time as the filings are made, Northisle’s management and other insiders are subject to a trading blackout that reflects the principles contained in Section 9 of National Policy 11-207 -- Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as disclosed in the company's press releases, there have not been any material business developments since the date on which the company filed its audited financial statements for the year ended December 31, 2019.

For more information on Northisle please visit the Company’s website at www.Northisle.ca.

On behalf of Northisle Copper and Gold Inc.

“D M Douglas”

David M Douglas, CPA, CA
CFO and Director
www.northisle.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.