Interra Enters Purchase Agreement for the Stars Copper Project
CSE: IMCX WWW.INTERRACOPPERCORP.COM
INTERRA ENTERS PURCHASE AGREEMENT FOR THE STARS COPPER PROJECT
October 7, 2024, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; OTCQB: IMIMF;
FRA: 3MX) (“Interra” or the “Company”) is pleased to announce that it has entered into a mineral
claims purchase agreement (the “Purchase Agreement”) with Aurwest Resources Corporation (CSE:
AWR) ("Aurwest") pursuant to which, and subject to the terms and conditions contained therein, it
would acquire a 100% right, title, and interest in the Stars Property (the “Property”), an early-stage
porphyry copper-molybdenum discovery, covering 3,761 hectares (“ha”) in central British Columbia
(the “Acquisition”).
Highlights of the Star Property:
• Road accessible, 3,761 ha property in a top tier exploration and mining district
• A 230 X 180 metre (“m”) domain (the “Tana Zone”) of chalcopyrite-molybdenite-bornite quartz
stockwork that has been intersected from surface to greater than 350 m depth. The zone is
open in two directions as well as to depth. Drill Intersection highlights include:
o 0.466% Cu over 195.07 m* in drill hole DD18SS004 from 23.47 m
o 0.200% Cu over 396.67 m* in drill hole DD18SS010 from 29.37 m
o 0.205% Cu over 207.27 m* in drill hole DD18SS015 from 163.98 m
• A highly prospective, approximately 5 X 2.5 kilometre (“km”), annular magnetic anomaly that
is interpreted to represent an altered monzonite intrusion and surrounding hornfels (Fig. 1).
• Numerous soil and induced polarization geophysical targets within the larger magnetic
anomaly that have not been well tested by drilling (Fig. 1).
Brian Thurston, President & CEO of Interra, commented : "Acquiring the Stars Property is
transformative for Interra. The Company changes from a junior exploring to make a discovery, to a junior
with a discovery that is looking to define a resource. The Stars Property has two complementary exploration
upsides, with an established zone of higher-grade mineralization that Interra can grow and define, and a
much broader under-explored area with high potential for new discovery. After evaluating the technical data
our exploration team is highly motivated to apply a new exploration model to this exciting property."
New Exploration Model
The most recent historical expenditures on the Star Property exceed $2,612,422***, beginning in 1999
when Imperial Metals’ considered the property a potential analogue to the contemporary Huckelberry
(mine) discovery. Interra’s technical advisor, Tony Barresi, Ph.D., P.Geo., reviewed the data generated
during these years of exploration and developed a new exploration model. Historical drilling across a
1.8 X 1.0 km area indicates that the Star Property is underlain by a large altered and weakly
mineralized intrusion. The Tana Zone, which is where the highest grade drill intersections were
encountered, is the only location where drilling (inadvertently) tested the contact between the
intrusion and the surrounding volcanic rock. The new model emphasizes locating this contact and
testing areas with overlapping exploration indicators, including step-out drilling along the defined
contact at the Tana Zone and several other high-priority grassroots targets.
New Board Member
Conditional upon the successful completion of this acquisition, Cameron MacDonald, CEO of Aurwest
will join the Board of Interra. Mr. MacDonald has over 18 years of Capital Markets public company
experience as founder and CEO of the Macam Group of Companies specializing in Capital Markets,
M&A, banking, financial management, and operations. He has been investing in start-up companies
since 2002 and has helped raise over $300 million in equity and over $650 million in debt financings.
Mr. MacDonald is currently the President and CEO of Tenth Avenue Petroleum Corp. (TSXV:TPC),
Director of Pacific Bay Minerals Ltd. (TSXV:PBM), and serves as an investor and board member for
several other businesses.
Cameron MacDonald, CEO of Aurwest, commented: "I am looking forward to assisting Interra in
financing exploration of the Stars Property and exposing the Aurwest shareholders to the upside potential
of advancing the Stars Property. Given the global movement towards electrification, environmental
concerns, infrastructure development, and the forecasted demand for copper, the combined properties of
Interra make a very compelling exploration package."
The Star Property
The 3,761.7-ha, road-accessible Stars Property is situated in central British Columbia, Canada, 40 km
west of Houston. It hosts porphyry copper-molybdenum mineralization associated with a Bulkley
Suite monzonite stock. The Bulkley Suite is linked to mineralization at Imperial Metals' past-producing
Huckelberry mine, 60 km to the south, and other porphyry deposits in the region. Three drilling
campaigns on the Stars Property, totaling 9,016 m, have identified a broad area of anomalous copper,
and molybdenum within the monzonite stock. The most important drilling to date is at the Tana Zone
(Fig. 1), where the contact between the stock and surrounding volcanic rock contains chalcopyrite,
molybdenite and bornite bearing quartz stockwork veining. Tana Zone drilling has defined an
approximately 230 x 180 m domain with significant copper and molybdenum grades (Table 1).
Table 1 Highlights of Tana Zone Intersections*
Drill Hole From
(m) To (m) Length
(m) Cu (%) Mo
(ppm) CuEq (%)**
DD18SS004 23.47 218.54 195.07 0.466 50 0.489
DD18SS010 29.37 426.04 396.67 0.200 82 0.239
DD18SS013 8.53 163.98 155.45 0.209 58 0.236
DD18SS014 29.57 185.01 155.44 0.218 46 0.240
DD18SS014 236.83 370.94 134.11 0.193 48 0.216
DD18SS015 163.98 371.25 207.27 0.205 109 0.257
CS-07 58.51 170.38 111.87 0.255 54 0.281
Outside the Tana Zone, most drilling on the property encountered altered and weakly mineralized
monzonite within an approximately 1.8 x 1.0 km area marked by a broad magnetic low (Fig. 1). While
there is potential for an undiscovered porphyry deposit within the monzonite intrusion, Interra's
future exploration will concentrate on the contact zones. Several historical drill holes are believed to
have approached this contact, with assays at their bottoms showing increased copper and
molybdenite values (Table 2). Their drill logs also indicate an increase in quartz-chalcopyrite-
molybdenite ± bornite veins with pink K-feldspar altered selvages, similar to those found in the Tana
Zone.
Table 2 Drill intersections indicating grassroots exploration opportunities*
Drill Hole From
(m) To (m) Length
(m) Cu (%) Mo
(ppm) CuEq (%)**
DD18SS006 245.98 303.89 57.91 0.086 42 0.105
DD18SS005 279.50 370.95 91.45 0.153 54 0.179
DD18SS007 593.09 676.55 83.46 0.023 202 0.119
DD18SS009 87.17 108.51 21.34 0.134 25 0.146
DD18SS009 203.00 227.38 24.38 0.088 91 0.131
* The true width of historical drill intersections referenced in this news release are not known.
Historical drill data in this news release is derived from previous exploration activities conducted by
other parties. While this data may provide insights into the mineralization potential on the property,
it should not be relied upon as conclusive evidence of mineral potential or project viability.
** Copper equivalent ("CuEq"), is used for illustrative purposes, to express the combined value of
copper and molybdenum, as a percentage of copper. No allowances have been made for recovery
losses that would occur in a mining scenario. CuEq is calculated on the basis of US$4.20 per pound
of copper and US$20.00 per pound of molybdenum.
*** Expenditures are calculated from expenditure reports within publicly available British Columbia
Department of Energy, Mines, and Low Carbon Emissions Property Assessment Reports. Expenditures
are not adjusted for inflation and do not include work that was not filed with the government,
including the collection and analysis of 817 soil samples.
Figure 1 Map of Exploration targets on the Star Property. Datum: NAD83 UTM Zone 9. Historical drilling and
exploration vectors on total-magnetic-intensity geophysical map.
Acquisition Terms
Under the terms of the Purchase Agreement, the Company will earn its undivided 100% right and
interest in the Property upon paying to Aurwest cash payments of C$250,000, and issuing 10,000,000
common shares of the Company (the “Shares”) and 2,500,000 common share purchase warrants of
the Company, exercisable for 24 months at $0.15 per common share (the “Warrants”), to Aurwest
(intended for onward distribution to the Aurwest’s shareholders) which are subject to a statutory hold
period of four months and one day from the date of issuance as well as contractual time based
restrictions on transfer to be affixed as a legend to the Shares and Warrants for up to 24 months from
the date of closing on the Acquisition. There is also a grant to underlying third parties of a 2% net
smelter return royalty (the “NSR”) on all minerals produced from the Property. Interra shall have the
right to repurchase at any time one per cent of the NSR (1.0%) for consideration of C$2,000,000 based
on the terms of the underlying royalty agreements. The transaction contemplated by the Purchase
Agreement is expected to close on or before December 15, 2024 and is subject to customary closing
conditions and approvals, including Aurwest shareholder approval as it relates to sale of the Property.
Qualified Person
Tony Barresi, Ph.D., P.Geo., the Company’s technical advisor and a qualified person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved
the technical information in this news release.
About Interra Copper Corp.
Interra Copper Corp. is focused on building shareholder value through acquisitions the exploration
and development of its two early-stage copper exploration assets located in British Columbia, Canada.
The Company’s 100% owned Thane Project located in the Quesnel Terrane of Northern BC spans over
20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal
mineralization. The Company has a joint-venture agreement and earn-in option of up to 80% on the
RIP Project located in Stikine Terrane in a prolific belt of Late Cretaceous (Bulkley plutonic suite),
known for copper-molybdenum deposits.
Interra Copper’s leadership and advisory teams are comprised of senior mining industry executives
who have a wealth of technical and capital markets experience and a strong track record of
discovering, financing, developing, and operating mining projects on a global scale. Interra Copper is
committed to sustainable and responsible business activities in line with industry best practices,
supportive of all stakeholders, including the local communities in which we operate. The Company's
common shares are principally listed on the Canadian Stock Exchange under the symbol "IMCX". For
more information on Interra Copper, please visit our website at www.interracoppercorp.com.
On behalf of the Board of Interra Copper Corp.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Katherine Pryde
Investor Relations
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of applicable securities legislation.
Forward-looking statements are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or
statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved.
All statements, other than statements of historical fact, included herein, without limitation, relating to
the timing for closing the Purchase Agreement, or that the Purchase Agreement will close at all, are
forward-looking statements. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, w hile
considered reasonable by Interra, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements and the parties have made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitation, risks that Aurwest shareholders will
not approve the sale of the Property, risks associated with possible accidents and other risks
associated with mineral exploration operations, the risk that the Company will encounter
unanticipated geological factors, risks associated with the interpretation of exploration results, 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 political uncertainties and
regulatory or legal changes that might interfere with the Company's business and prospects. Readers
should not place undue reliance on the forward-looking statements and information contained in this
news release concerning these items. Interra does not assume any obligation to update the forward-
looking statements of beliefs, opinions, projections, or other factors, should they change, except as
required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this
press release, and does not accept responsibility for the adequacy or accuracy of this release.