Bell Copper and Cordoba Minerals Amend Earn-In Terms at Bell’s Perseverance Porphyry Copper Project, Arizona
Suite 900 - 885 West Georgia Street | Vancouver, British Columbia | V6C 3H1 | Canada
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March 18, 2024
NEWS RELEASE
Bell Copper Corporation
Bell Copper and Cordoba Minerals Amend Earn-In Terms at Bell’s
Perseverance Porphyry Copper Project, Arizona
VANCOUVER, B.C. - Bell Copper Corporation (TSX.V: BCU) (OTCQB: BCUFF) (“Bell Copper” or the
“Company”) reports that it has agreed to amend the terms of the Perseverance Joint Venture and Earn-in
Agreement (the “Amended Joint Venture Agreement”) with Cordoba Minerals Corp. (“Cordoba”) (TSXV:
CDB; OTCQB: CDBMF). Up to the present, Cordoba has earned a 51% interest and Bell Copper retains a
49% interest in the Perseverance Porphyry Copper Project in Arizona, USA.
Under the Amended Joint Venture Agreement, the current earn-in phase for Cordoba has been adjusted
to spend C$14,200,000 by April 24, 2026 for the option to earn an 80% interest in the Perseverance
Project. This adjusted project expenditure of C$14,200,000 reflects the combination of the Phase 3 and
Phase 4 earn-in spending requirements in the original Agreement . This adjusted earn -in phase includes
additional project expenditures of C$1,200,000 for amending the Agreement. The timing for Cordoba to
have the option to earn the 80% project interest in Perseverance remains the same, but it is now
accomplished by earning straight into the 80% project interest by April 24, 2026 rather than via two earn-
in phases contemplated under the original Joint Venture Agreement (refer to Table 1 below for
comparison between the original and amended Agreements).
Original Joint Venture Agreement Amended Joint Venture Agreement
Phase 1
Expenditures of C$ 1M by April 24,
2020 to earn 25% interest
(completed)
Phase 1
Expenditures of C$ 1M by April 24,
2020 to earn 25% interest
(completed)
Phase 2
Additional expenditures of C$ 3M
by April 24, 2022 for 51% interest
(completed)
Phase 2
Additional expenditures of C$ 3M by
April 24, 2022 for 51% interest
(completed)
Phase 3 Additional expenditures of C$ 3M
by April 24, 2024 for 70% interest
Phase 3
Additional expenditures of C$ 14.2M
by April 24, 2026 for 80% interest (in
progress) Phase 4 Additional expenditures of C$ 10M
by April 24, 2026 for 80% interest
Table 1: Comparison of Earn-in Terms
Bell Copper President & CEO Dr. Tim Marsh stated - “Bell Copper fundamentally believes that our
Perseverance project is an outstanding target for discovering a globally significant copper deposit. Our
earn-in optionee, Cordoba Minerals, continue s to share that belief . Drill data to this point support the
concept, and Bell's quick success pursuing the same concept at Big Sandy lends further credence to
Perseverance's potential. As copper enters a new phase of ascendant market interest, i t is in Bell's best
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interest to retain as much of Perseverance as possible for as long as possible, within the constraints of the
Cordoba Earn-In/JV Agreement. This amendment requires $14.2 million of expenditures by Cordoba on
Perseverance in the next 24 months, a strong commitment from a team with a strong track record of
discovering and developing globally significant deposits.
Meanwhile, Bell Copper is keeping the drill turning at the BS -4 drillhole to further demonstrate the
significance of our porphyry copper discovery at Big Sandy.”
Qualified Person
The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng., the
Company’s CEO and President and a ‘Qualified Person’ as defined under Canadian National Instrument
43-101.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of
large copper deposits located in Arizona. Bell Copper is exploring its 100% owned Big Sandy Porphyry
Copper Project and the Perseverance Porphyry Copper Project which is under a Joint Venture - Earn In.
On behalf of the Board of Directors of
Bell Copper Corporation
"Timothy Marsh"
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
Email: [email protected]
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 Statements
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of
Canadian securities legislation, including, but not limited to, the ability of Bell to identify a mineral resource at the
Perseverance or Big Sa ndy Projects. There is no certainty that the present exploration effort will result in the
identification of a mineral resource or that any mineral resource that might be discovered will prove to be
economically recoverable. All statements included in this news release, other than statements of historical fact, are
forward-looking statements. Forward -looking statements include predictions, projections and forecasts and are
often, but not always, identified by the use of words such as "anticipate", "believe ", "plan", "estimate", "expect",
"potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could"
or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable
by management based on the business and markets in which Bell Copper operates, are inherently subject to
significant operational, economic, and competitive uncertainties, risks and contingencies. There can be no assurance
that such statements will prove to be accurate and actual results, and future events could differ materially from
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those anticipated in such statements. Important factors that could cause actual results to differ materially from the
Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the
mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of
capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks,
regulatory changes, delays or inability to receive requ ired approvals, and other exploration or other risks detailed
herein and from time to time in the filings made by the Company with securities regulators, including those described
in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward -
looking statements, except in accordance with applicable law.