King Copper Discovery Corp. Trades as KCP Effective Today

Rhea-AI Summary

King Copper Discovery Corp. (KCP-TSXV, TBXXF-OTCQB, 3RI-FSE) has officially changed its name from Turmalina Metals Corp., effective March 11, 2025. The company's focus is on the Colquemayo copper-gold-silver project in Southern Peru, covering 6,600 hectares of road-accessible terrain.

The project shows significant potential with historical drilling results including:

• 237.3m @ 2.4% Cu, 0.08 g/t Au & 10 g/t Ag
• Including 15.15m of 27% copper

The company is currently designing a drill program based on the re-logging of 20,000 metres of historic drill core. Environmental baseline studies have been completed by INSIDEO for permit applications. Additionally, the company has granted 6.8 million stock options to officers, directors, employees, and consultants at $0.15 per share with a five-year term.

Positive

• High-grade copper mineralization confirmed by historical drilling (237.3m @ 2.4% Cu)
• Option to earn 100% interest in the Colquemayo project
• Environmental baseline studies completed for permit applications
• Project shows potential for both epithermal and porphyry copper systems

Negative

• Dilution from 6.8 million new stock options granted at $0.15
• Still pending drill permits and environmental approvals
• Additional expenses from new IR agreement ($3,000/month)

VANCOUVER, British Columbia, March 11, 2025 (GLOBE NEWSWIRE) -- King Copper Discovery Corp. (“King Copper” or the “Company”; KCP-TSXV, TBXXF-OTCQB, 3RI-FSE) name change and symbol change to KCP-TSXV is effective as of the market open today.

Turmalina Metals Corp. previously announced this corporate name change to “King Copper Discovery Corp.” The new CUSIP number for the Company’s common shares will be 494726102, and the new ISIN number will be CA4947261026. The share capital of the Company is unchanged.

The updating of various presentation materials, which is in progress, will reflect the Company’s focus on the Colquemayo copper-gold-silver project, which is located in the Moquegua department, near the border with the Arequipa department in Southern Peru. The new website address, being constructed now, will be www.kingcopperdiscovery.com

The road-accessible project, of which the Company has an option to earn a 100% interest, covers 6,600 hectares with copper-gold-silver mineralization in high-sulphidation epithermal systems hosted by phreatomagmatic and hydrothermal breccias that have been emplaced into Miocene to Pliocene andesitic volcanic rocks. Intense hydrothermal alteration has been mapped over an area of 10 km by 3 km.

The high-grade potential of the Colquemayo mineralized system is illustrated by prior drilling that returned up to 15.15 metres of 27% copper, within a broader 237.3 metre intercept of 2.4% copper starting at a down-holed depth of 306.25m. In addition to targeting extensions to this high-grade epithermal mineralization, King Copper Discovery Corp.’s exploration will follow up indications of an underlying copper porphyry system identified in prior drilling. The Company’s exploration model at Colquemayo draws on its similarities to linked epithermal and porphyry systems in the Andes, a prime example being Filo del Sol, in Argentina.

Historic drill results from Colquemayo (see King Copper News Release dated July 3, 2024 for details) include an intersection that returned:

• 237.3 m @ 2.4 % Cu, 0.08 g/t Au & 10 g/t Ag, including
  • 161.2 m @ 3.4% Cu, 0.09 g/t Au & 14 g/t Ag, and
  • 31.3 m @ 14.8% Cu, 0.2 g/t Au & 47 g/t Ag.

A drill program is being designed on the basis of an exploration model developed from the re-logging of approximately 20,000 metres of historic drill core, integrated with assay data, mapped geology and mineral alteration zoning.

King Copper Discovery Corp. has established access to the Project for initial baseline fieldwork and has maintained close contact with the communities of Palcamayo and Amata, which own most of the surface rights in the Project area. The Company has also initiated contacts with neighbouring communities and local authorities to inform them about the nature and status of the Project.

The Company has engaged INSIDEO, an environmental consulting company based in Lima, to complete baseline studies and prepare and environmental impact assessment (the Declaracion de Impacto Ambiental - the ‘DIA’), which is a key requirement for the drill permit application. INSIDEO has completed all related fieldwork originally planned, including soil and water sampling, air quality and noise control tests, and all studies related to the biological baseline.

The board of directors of the Company has also approved the grant of 6.8 million stock options to certain officers, directors, employees and consultants of the Company under the Company's stock option plan. The options have an exercise price of 15 cents and a term of five years. The Company has also entered into a 6-month investors relations agreement with Conrad Orzel of Vancouver, British Columbia for a fee of CAD $3000 per month and 100,000 stock options (included within the above mentioned grant total) with a term of five years, vesting over a 12 month period.

On Behalf of the Company,

Jonathan Richards, Chief Executive Officer and Director.

Website: kingcopperdiscovery.com
Address: #1507 - 1030 West Georgia St, Vancouver, BC V6E 2Y3.

For Investor Relations enquiries, please contact +1 604 229 5208 or via info@kingcopperdiscovery.com.

Statements

About King Copper Discovery Corp and Our Projects:  King Copper is a TSXV-listed exploration company focused on the Colquemayo gold-copper project in South America. The Company is led by a team responsible for multiple gold-copper-silver discoveries.

Forward Looking Statement:  This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward looking statements in this news release include the closing of the Name Change.  Factors that could cause the actual results to differ materially from those in forward-looking statements include the receipt of regulatory approvals, market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Qualified Person: All scientific and technical information in this news release has been approved by Dr. Rohan Wolfe, Technical Advisor, MAIG, who serves as the Qualified Person (QP) under the definition of National Instrument 43-101. Dr Wolfe has conducted a review of historic data at the project, reviewed the Company’s due diligence study of the Project and has conducted an independent QA/QC review of historic drilling assays, and consents to the inclusion of this information in the form and context in which it appears.

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 release or has in any way approved or disapproved of the contents of this press release.

FAQ

What are the recent drilling results from King Copper's (TBXXF) Colquemayo project?

Historical drilling at Colquemayo showed 237.3m @ 2.4% Cu, including 161.2m @ 3.4% Cu and 31.3m @ 14.8% Cu with gold and silver credits.

How many hectares does TBXXF's Colquemayo project cover in Peru?

The Colquemayo project covers 6,600 hectares in Southern Peru's Moquegua department.

What is the exercise price and term of TBXXF's recently granted stock options?

The stock options have an exercise price of $0.15 and a five-year term.

What environmental steps has TBXXF taken for the Colquemayo project?

INSIDEO has completed baseline studies including soil, water sampling, air quality, and noise control tests for the environmental impact assessment (DIA).