Interra Copper Files 43-101 for Thane Copper-Gold Project

Rhea-AI Summary

Interra Copper Corp. (CSE:IMCX)(OTCQB:IMIMF) has filed a N.I. 43-101 compliant technical report on its Thane Property in British Columbia, effective July 12, 2021. This report details exploration history and recent geophysical work. The company is in a solid cash position due to a CDN $2.7 million financing completed earlier in 2021. While awaiting assay results from the summer drill program, management has opted to discontinue work on the Bullard Pass project to focus entirely on Thane.

Positive

• Filed N.I. 43-101 compliant technical report on Thane Property.
• Strong cash position from CDN $2.7 million financing.
• Summer program expenditures were on budget.

Negative

• Decision to discontinue Bullard Pass project may represent missed opportunities.

VANCOUVER, BC / ACCESSWIRE / September 15, 2021 / Interra Copper Corp. (CSE:IMCX)(OTCQB:IMIMF)(FRA:3MX) ("Interra" or the "Company") is pleased to announce it has completed and filed a technical Report, a N.I. 43-101 compliant report on it's primary asset - the 206 square kilometer Thane Property in North Central B.C.

The Company has filed a current independent National Instrument 43-101 compliant technical report entitled "Technical Report on the Thane Copper-Gold Project, Omineca Mining Division, British Columbia, Canada" (the "Technical Report") with an effective date of July 12, 2021, prior to this summer's drill program. The Technical Report outlines the history of exploration and work completed on the 206 square kilometre project over the past decades, as early as the 1940's, as well as subsequent geophysical and geochemistry work and sampling completed by Interra Copper (and Thane Minerals Inc., acquired by the Company in March 2020.)

See Sedar website: https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00047101 ).

Interra Copper is sitting in a strong cash position, largely from the previously announced CDN $2.7 M financing that was completed earlier this year in Q2 2021.

The summer program expenditures have been on budget. The Company eagerly awaits assay results on cores from the diamond drill program as well as further soils and chip sampling.

Interra also announces management has decided not to pursue further work on the Bullard Pass project in Arizona, in order to focus 100% efforts and company resources on the Thane Project, effective September 1^st, 2021.

ON BEHALF OF INTERRA COPPER CORP.

Jason Nickel, P.Eng.
Chief Executive Officer
Telephone: +1-604-754-7986
Email: ceo@interracopper.com

INVESTOR RELATIONS:

Email: invest@interracopper.com
Telephone: +1-604-588-2110
Website: https://interracopper.com

ABOUT INTERRA COPPER CORP.

Interra is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia. Utilizing its heavily experienced management team, Interra continues to source and evaluate assets to further generate shareholder value.

The Thane Property covers approximately 206 km² (50,904 acres) and is located in the Quesnel Terrane geological belt of north-central British Columbia, midway between the previously-operated open pit Kemess Mine and the current open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane Property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration on the Company's Thane Property, the submission of core samples and receipt of assays thereof. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

SOURCE: Interra Copper Corp.

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FAQ

What is the latest update on Interra Copper's Thane Property project?

Interra Copper has filed a N.I. 43-101 compliant technical report outlining the exploration history and recent work on the Thane Property, effective July 12, 2021.

How much financing did Interra Copper secure in 2021?

Interra Copper completed a financing of CDN $2.7 million in Q2 2021.

What is the focus of Interra Copper as of September 2021?

As of September 2021, Interra Copper has decided to focus 100% of its resources on the Thane Project, discontinuing work on the Bullard Pass project.

When is Interra Copper expecting assay results from the drill program?

Interra Copper is eagerly awaiting the assay results from the diamond drill program conducted during the summer.