Majuba Hill Copper to Acquire Copper KING and Desert Mountain Claims and Leases Including the Historical Cayote MINE Sw of Tintic Mining District
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*Press Release March 27, 2023
MAJUBA HILL COPPER TO ACQUIRE COPPER KING AND
DESERT MOUNTAIN CLAIMS AND LEASES INCLUDING
THE HISTORICAL CAYOTE MINE SW OF TINTIC MINING
DISTRICT
VANCOUVER, BC — March 27, 2023 — Majuba Hill Copper Corp. (CSE: JUBA / OTC:
JUBAF / FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to announce
the Company has entered in to an agreement dated March 20, 2023 (the “Purchase
Agreement”) with Ruby Hollow, LLC to acquire a 100% interest in the Copper King
and Desert Mountain Claim Group SW of the Tintic Mining District in Juab, Utah (the
“Transaction”). The properties consist of 6,827.994 acres of highly prospective claims
and leases (the “Subject Property”).
Copper King and Desert Mountain Claims
The two claim blocks are situated approximately 90 km SW of Kennecott’s prolific
Bingham Canyon Mine Complex (just west of Salt Lake City, Utah) and 40 km SW of
the Tintic Mining District which hosted some of the richest lead/silver mines in the
state.
The Copper King Claims is a greenfield project that hosts numerous quartz -
specularite veins with occasional Cu -oxides, barite, and fluorite showings that
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increase in intensity along the western flank of the mountain range. A field program
took pla ce in 2020 that focused on collecting structural orientation data and
geochemical grab samples of veins to provide further insight into the mineralizing
system. Geophysical anomalies outline potential targets for drilling the 5113.214 acre
property.
The Desert Mountain Claims is a block of land covered by the DMG claims, the Coyote
Knoll claims, and a state section on west side of the claim block. There is alteration,
mineralization, and jasperoids in the volcanic and Precambrian rock covered by the
claims. There is a small mine on the property called the Coyote Mine with small
production and reported 1000 ounces silver. A review of the drilling, including
creating cross sections of the drilling, indicates excellent drilling opportunities along
a mostly east-west structure covered by the claims. Additional opportunities can be
found north and south off this east -west structure. The overall block size is
approximately 1,714.78 acres.
David Greenway, President and CEO, commented: "While we continue to advance
our flagship Majuba Hill Copper Project showcasing the potential for 1.5 Billion pounds
of copper, with results just announced to expand that size, which will contribute to
the development of a NI 43-101 compliant copper resource. Our phased approach is
how the next great copper mines of America will be developed. This in an era when
copper has never been in greater demand, the shortfall for copper been forecasted
to become so significant and the need to find strategic copper reserves in domestic,
safe, American, mining friendly jurisdictions been so imperative. Bravo to 2022. We
couldn’t be more excited to see what 2023 brings. We are excited to add to the
Company’s US based mining portfolio with this strategic acquisition to find the next
‘Majuba Hill’."
The Transaction
In consideration for the Transaction and pursuant to the terms of the Purchase
Agreement, and closing thereof ("Closing"), the Company will issue an aggregate of
3,000,000 common shares in the capital of the Company at a deemed price of $0.13
USD per share (the “Consideration Shares”).
Pursuant to the Purcha se Agreement, the Company has ag reed to undertake and
assume all obligations related to the Properties such as certain royalty interests and
maintaining the Subject Property in good standing.
The Consideration Shares will be subject to a four month and one day restriction on
resale commencing on the closing date.
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Awareness Agreement
Further, the Company has engaged Positive Phil Inc. of San Marcos, California, to
provide digital marketing services to the Company for a term of 30 days, in
consideration of 300,000 RSUs. Positive Phil Inc. will utilize its online programs and
media placement to generate a greater following, increase investor awareness and
attract new investors through many different online platforms and me thods of
engagement.
About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of
latter stage copper and copper/ silver/gold assets. This is in direct response to the
growing worldwide demand and lack of supply for precious metals fueled by the Green
New Deal in the US and most other developed nations with similar programs aimed
at addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper , silver and gold District located 156
miles outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions where government regulations are supportive of mining
operations.
On Behalf of the Board of Majuba Hill Copper Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
P: 1 (855) 475-0745
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies
of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward -looking" statements. Forward looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
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"expects", "plans", "anticipat es", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or "should" occur. Although Majuba Hill Copper Corp. 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 forward
looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Majuba Hill Copper
Corp. management on the date the statements are made. Except as required by law, Majuba Hill Copper Corp.
undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates
or opinions, or other factors, should change.