News Release – Vancouver, British Columbia – October 11, 2022: CopAur Minerals Inc. (“CopAur” or the “Company”) (TSX-V: CPAU) (OTCQB:COPAF) announces that it intends to amend the terms (the “Amendments”) of an aggregate of 12,625,008 outstanding share purchase warrants (the “Historical Warrants”), in accordance with the policies of the TSX Venture Exchange (“TSXV”). The Historical Warrants were originally issued by CopAur, or CopAur’s wholly owned subsidiary New Placer Dome Gold Corp. (“NGLD”), which was formerly a TSXV listed issuer before its acquisition by CopAur pursuant to a plan of arrangement (see CopAur news release disseminated on May 13, 2022 regarding the closing of the acquisition of NGLD, available on SEDAR).
The Historical Warrants were issued pursuant to private placements by CopAur completed on May 27, 2021, November 9, 2021, and March 2, 2022, and an NGLD private placement completed on June 2, 2020. Pursuant to the Amendment, the exercise price of all the Historical Warrants will be reduced to $1.02 and the expiry of the Historical Warrants will become subject to an accelerated expiry provision providing for the exercise period of the Historical Warrants to be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the Historical Warrants, the closing price of the common shares of CopAur on the TSXV exceeds $1.22 (a “Premium Trading Period”). The 30-day expiry period will commence on the day that CopAur disseminates a news release announcing the accelerated expiry period, or if CopAur does not disseminate a new release, then the accelerated expiry period will automatically start seven days after completion of the Premium Trading Period.
Jeremy Yaseniuk, Chief Executive Officer of CopAur, commented, “We believe that a reduction of exercise prices of the Historical Warrants will provide an excellent opportunity for existing investors holding Historical Warrants to continue to participate in the ongoing financing and future growth and development of the Company’s projects in Nevada and British Columbia. At the amended exercise price of $1.02, the Historical warrants could generate up to $12.8 million in working capital if all Historical Warrants are exercised. We encourage all holders of Historical Warrants to provide their consent to the proposed Amendments.”
The Amendments described above are subject to approval by the holders of the Historical Warrants and by the TSXV.
About Copaur Minerals Inc.
CopAur is a Canadian exploration company focused on advancing its combined portfolio of gold and gold-copper projects located in British Columbia and Nevada. CopAur is backed by a dynamic and experienced team of resource sector professionals, including members of Benchmark Metals Inc. and Thesis Gold Inc. on its advisory board.
CopAur owns a 100% interest in the Williams gold copper project, located within the prolific Golden Horseshoe of Northern British Columbia, Canada, as well as a 79.9% interest in the Kinsley Mountain Gold Project, located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture), which hosts Carlin-style gold mineralization, previous run of mine heap leach production, and NI 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes).
CopAur also has the option to acquire up to a 75% interest in the Bolo Gold Project, located 90 km northeast of Tonopah, Nevada, which hosts Carlin-style gold mineralization, and the Troy Canyon Project, located 120 km south of Ely, Nevada. Upon completing US$1,500,000 of work expenditures in the 2022 calendar year, CopAur will acquire an initial 50.01% interest in the Bolo Gold Project. If acquired, CopAur will then have 30 days to give notice electing to acquire an additional 24.99% interest by incurring an additional $4,000,000 in expenditures on the Bolo Gold Project within two years of the date of notice of the election.
Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of May 5, 2021, and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.’s profile on SEDAR (www.sedar.com).
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Forward Looking Information
This News Release includes certain statements about anticipated future events or results that constitute “forward looking information” under Canadian securities laws (“forward looking statements”). All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the acceleration and repricing of the Historical Warrants and the potential exercise of the Historical Warrants are forward-looking statements. Forward looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual outcomes to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from CopAur’s expectations include unanticipated delays in obtaining or failure to obtain regulatory or stock exchange approvals for the extension and repricing of the Historical Warrants and delays in obtaining or failure to obtain warrant holder consent for the repricing of the Historical Warrants as well as future prices of CopAur stock relative to the exercise price of the amended Historical Warrants. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. CopAur does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance onforward-looking statements.
Neither 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.