Allied Copper Completes RTO and Commences Trading on the TSX-V
Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) announced the completion of its RTO transaction and provided an update on the Silver King Property in Eastern Nevada. The property now includes 316 unpatented claims totaling 2,560 hectares. A surface exploration program was conducted in July 2021, and results from a forthcoming MMI soil survey are anticipated in November 2021. Allied Copper continues to explore potential copper projects for joint ventures. The company's focus remains on developing scalable copper-gold assets in low-risk jurisdictions.
- Completion of RTO transaction enhances corporate structure.
- Silver King Property expanded to 2,560 hectares with 316 claims.
- Exploration activities in a top mining jurisdiction (Nevada).
- Awaiting results from MMI soil survey, causing potential delays in exploration.
- No immediate financial metrics or production estimates provided.
VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) (the “Company” or “Allied Copper”), is pleased to announce the completion of the RTO transaction reported by the Company on May 26, 2021 (See News Release May 26, 2021). Allied Copper would also like to provide an update on activity and exploration work that has been done on the Silver King Property (SK Property), Eastern Nevada, USA. The SK Property lies approximately 104 kilometres (65miles) South of the Robinson Mine (owned by KGHM) at Ely, Nevada, USA.
Allied Copper completed staking additional land in April 2021. The SK Property now consists of 316 contiguous unpatented claims which total 2,560 hectares (6,326 acres). These claims lie on the Battle Mountain-Eureka Trend where it intersects the Warm Springs Lineament. The Company conducted a surface exploration program on the SK Property in July 2021. Allied Copper is currently waiting to receive the results of an MMI soil survey anticipated for November 2021.
Allied Copper is looking forward to receiving those results to further guide continued exploration efforts on the SK Property in the coming months. Allied Copper Corp. SK property is in the number one mining jurisdiction (Nevada, USA) in the world according to 2020 Fraser Institute Annual Survey of Mining Companies.
The Company would like to sincerely thank all existing shareholders for their patience with regards to the recently completed RTO transaction. Allied Copper continues to evaluate a portfolio of various copper projects for Joint Venture (JV) or purchase.
About Allied Copper
Allied Copper Corp. ("Allied Copper”) (TSX-V: CPR) (OTCQB: CPRRF) headquartered in Vancouver, BC Canada is a mineral exploration company focused on acquiring and developing potential long life, scalable copper-gold assets in the Western United States. The Company’s strategy is to focus on low cost and potential high growth operations in low risk jurisdictions. Allied Copper’s management is committed to operating efficiently and with transparency in all areas of the business. Investors and/or Readers may sign up for updates on the Company’s website: www.alliedcoppercorp.com
Qualified Person
Cam Bartsch (P. Geo.) is the “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects who has reviewed and approved the technical information that is contained within this news release.
On behalf of the Board of Directors of Allied Copper Corp.,
Mr. Warner Uhl
Executive Chairman
Contact Information
For Investor Relations inquiries or further information, please contact:
Richard L. Tremblay
Pres., CEO and Director
Cell: (604) 250-4853
E-mail: rtremblay@alliedcoppercorp.com
Forward Looking Statements – Safe Harbour
This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Allied Copper Corp., future growth potential for Allied Copper and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Allied Copper’ ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may Constitute forward looking information and include, without limitation, statements about: anticipated timing and content of upcoming work programs, geological interpretations, receipt of property titles, and potential copper recovery processes; anticipated dates for receipt of permits, approvals and other milestones; anticipated Results of drilling programs, feasibility studies and other analyses; anticipated availability and terms of future financing; future production, operating and capital costs; and operating or financial performance. Information concerning potential contingent copper resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the copper bearing zones that would be encountered if a copper structure were developed and produced. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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