Alpha Copper Announces Acquisition of Okeover Project

Rhea-AI Summary

Alpha Copper Corp. acquires Okeover Copper Project from Northwest Copper Corp.

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• Alpha Copper Corp. has acquired the Okeover Copper Project from Northwest Copper Corp. The acquisition gives Alpha Copper a 100% interest in the project, which includes 12 mineral claims spanning approximately 4,613 hectares in British Columbia. The consideration for the acquisition was 5,675,369 common shares, valued at approximately $500,000.

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• None.

VANCOUVER, British Columbia, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FWB: PP0) (“Alpha Copper” or the “Company”), a resource sector enterprise founded to create value through mineral exploration, technical development, and asset acquisition, is pleased to announce that, further to its news release on September 25, 2023, it has acquired the Okeover Copper (molybdenum) Project (the “Okeover Project”) from Northwest Copper Corp. (the “Seller”).

The Company now holds a 100% undivided legal and beneficial interest in the Okeover Project, which encompasses twelve (12) mineral claims comprising approximately 4,613 hectares located in the Province of British Columbia. As consideration, the Company issued 5,675,369 common shares (the “Consideration Shares”) to the Seller at a deemed price of $0.0881 per Consideration Share for an aggregate value of approximately $500,000. The Consideration Shares are subject to a statutory hold period in accordance with applicable securities laws. In addition, 2,837,684 of the Consideration Shares are subject to a 12-month lock-up. Additional details concerning the acquisition are available in the Company’s news release dated September 25, 2023.

About Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FWB: PP0)

Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The Company is positioned to earn a 60-per-cent interest in the Indata copper-gold project located in north-central British Columbia. After the acquisition of Cavu Energy Metals, the Company holds an option to acquire 100% of the Star copper-gold porphyry project in the Golden Triangle of British Columbia, as well as an option to acquire up to 70% of the Hopper copper-gold porphyry project in the southern Dawson Range copper-gold belt of the southwestern Yukon, and further including the 100% owned Quesnel project in the middle of the Quesnel Trough, host to a number of alkalic copper-gold porphyry deposits running northwest across western British Columbia.

For more information visit https://alphacopper.com/.

On Behalf of the Board of Directors of Alpha

~Darryl Jones~

Darryl Jones
CEO, President & Director
Alpha Copper Corp.

Contact Alpha Copper

Invictus Investor Relations
+1 (604) 343.8661
walter@invictusir.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve 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 include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

FAQ

What did Alpha Copper Corp. acquire?

Alpha Copper Corp. acquired the Okeover Copper Project from Northwest Copper Corp.

What is the extent of the project?

The Okeover Copper Project includes 12 mineral claims covering approximately 4,613 hectares in British Columbia.

What was the consideration for the acquisition?

The consideration for the acquisition was 5,675,369 common shares, valued at approximately $500,000.