Calgary, Alberta – TheNewswire - February 16, 2022 - Voyageur Pharmaceuticals Ltd. (“Voyageur” or the “Company”) (TSXV:VM) (OTC:VYYRF) is pleased to announce the completion of the NI 43-101 report, the Jubilee Mountain Property, authored by Craig Dunn, P.Geo, the effective date of February 4, 2022 (the "Report") for the Jubilee Mountain copper polymetallic project (the "Jubilee Project").  In addition, Voyageur has added a second battery mineral project and has staked ground on a prospective polymetallic area of interest named the Falcon (together with the Jubilee Project, the "Projects").

Voyageur is discussing and analysing a cost-effective path forward to have these Projects independently managed. Voyageur's focus is on its Frances Creek project and full integration of the radiology pharmaceutical drug and device market.

Highlights from the Report:

• The copper polymetallic play has been overlooked at Jubilee in favour of barite mining since the 1950s,even though the initial discovery was the copper polymetallic assets 

• The adjacent Giant mine produced 220 tonnes pure copper and 3230 tonnes pure zinc during its lifetime (1920-1957) 

• The historic 10,000 m drilled shows promise in confirming the Jubilee Project is an exploration project of merit 

• The 53.2% copper result is in the Tiger Ridge area of interest, drilled in in the late 1990s and early 2000s 

• Results show average of 3% Cu over an 8 m interval 

• Promising zinc with 21.25% over a 0.9 m interval 

• These results align with a Mississippi Valley Type depositional environment  

According to Goldman Sachs Global Investment Research, Wood McKenzie and Bank of America, to meet demand by 2030, 70 plus new copper projects are required to go into production. It is estimated that there will be an 8.2 megaton deficit in copper by 2039. Copper prices are expected to reach $20,000 per tonne by 2023.

*source:

https://www.marketwatch.com/story/the-world-risks-running-out-of-copper-and-heres-how-high-prices-may-rise-as-the-economy-reopens-bofa-warns-11620073503 

https://www.financialexpress.com/industry/global-supply-gap-likely-to-be-8-2-mt-by-2030-copper-is-a-good-long-term-bet/2264029/ 

https://www.mining.com/building-a-mine-in-british-columbia-hurry-up-and-wait/ 

https://www.cnbc.com/2021/05/06/copper-is-the-new-oil-and-could-hit-20000-per-ton-analysts-say.html 

About Voyageur

Voyageur is a Canadian public company listed on the TSXV under the trading symbol VM. Voyageur is focused on the development of barite and iodine Active Pharmaceutical Ingredients (“API”) and high-performance cost-effective imaging contrast agents for the medical radiology marketplace. Voyageur’s goal is to initially generate positive cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and internationally. Ultimately, Voyageur has plans to build all the required infrastructure to become 100% self-sufficient with all manufacturing. Voyageur owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA.

Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radiology medical field, by controlling all primary input costs under the motto of: "From the Earth to the Bottle".

Independent Qualified Persons

Prepared in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects” of the Canadian Securities Administrators

Qualified Persons | Craig Dunn, P.Geo. of WellDunn Consulting

Contributors: Raj Lakhawat, Madison Ritchie, Patrick Kelley

Effective Date: February 4, 2022

For Further Media Information or to set up an interview, please contact:

Brent Willis

President & CEO

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www.voyageurpharmaceuticals.ca

Ron Love

CFO

T 403.818.6086

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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.

Cautionary Statement Regarding “Forward-Looking” Information

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to: the estimates set out in the Report, the development and management of the Projects, future copper pricing, demand and the number of projects required to go into production. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.