CopAur Minerals Inc. Exercises Its Option To Own 50.01% Interest In The Carlin-Type Bolo Gold And Silver Project In Nevada
Elects To Move Forward To Own 75%
Vancouver, January 11, 2023 - CopAur Minerals Inc. (TSXV: CPAU) (the "Company") CopAur Minerals Inc. ("Copaur" or the "Company") has provided notice to Allegiant Gold Corp Ltd. and other optionors under the Option Agreement dated June 27, 2018, as amended, to confirm that it has incurred and completed the final US$1.5 million in exploration expenditures to satisfy the remaining option requirements to earn a 50.01% interest in the Bolo Project in Nevada. The Company has also provided notice to Allegiant electing to earn an additional 24.99% interest in the Bolo Project Agreement (the "Additional Interest") under the terms of the Option Agreement by incurring an additional US$4 million in exploration expenditures within two years of the date of notice to earn the Additional Interest. Results from the previous 4,000 metres of reverse circulation drilling for Q4 of 2022, including expansion drilling at the South Mine Fault zone (1,000 metres) and exploration drilling of new targets are expected to be released in Q1, 2023. No further shares payments are too be made to Allegiant to earn 75%.
The Company's CEO, Jeremy Yaseniuk states, "Following this successful earn-in within the last year, CopAur has now acquired a 50.01% ownership interest in the Bolo project, a 79.99% ownership interest in the Kingsley Gold project and a 100% interest in the Troy Canyon property, all in Nevada. CopAur also has a 100% ownership interest in the Williams gold-copper project in British Columbia and is ideally positioned for further growth and development. This year we will continue focusing on a measured and systematic approach to exploration targets on these projects. The Company's initial plan in early 2023 is to focus on the Kingsley gold project and expects to commence further drilling in late January. Kinsley hosts a Carlin-type gold project with current indicated resources of 418 koz at 2.63 g/t gold and inferred resources of 117 koz at 1.51 g/t gold which will be updated later in the year."
Hot Creek Range, Nye County, Nevada
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Figure 1: Bolo Drill Targets
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About CopAur Minerals Inc.
CPAU is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the flagship being Kinsley Mountain Gold Property, a Carlin-style project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture, Nevada Gold Mines) and its 100% owned Williams Project that points to significant gold-copper potential within the prolific Golden Horseshoe of northern British Columbia, Canada. (For a full overview of projects please download CopAurPresentation).
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a director of New Placer Dome and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which include a review of the sampling, analytical and test data underlying the information and opinions contained herein.
On behalf of the Board of Directors,
Jeremy Yaseniuk
Chief Executive Officer
For further information, please contact:
Jeremy Yaseniuk
CopAur Minerals Inc.
Telephone: 604-773-1467
Email: jeremyy@copaur.com
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.
Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, conducting exploration work on its projects, receipt of assays, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
This news release contains forward-looking statements. These statements relate to future events or Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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