Cordoba Minerals Announces Revised Perseverance Joint Venture Agreement with Bell Copper
Cordoba Minerals Announces Revised
Perseverance Joint Venture Agreement with
Bell Copper
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2024) - Sarah Armstrong-Montoya, President
and Chief Executive Officer of
Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF)
(otherwise "Cordoba" or the "Company")
announces today that Cordoba and Bell Copper
Corporation ("Bell Copper") have agreed to amend the Perseverance Joint Venture and Earn-in
Agreement (the "Amended Joint Venture Agreement"), of which Cordoba has vested a 51% 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, and with additional project
expenditures of C$1,200,000 for amending the Agreement. The timing for Cordoba to have the option to
earn the 80% project interest in Perseverance remains the same, but it is now accomplished by earning
straight into the 80% project interest by April 24, 2026 rather than via two earn-in phases in the original
Joint Venture Agreement (refer to Table 1 below for comparison between the original and amended
Agreements).
Original Joint Venture Agreement
Amended Joint Venture Agreement
Phase 1
C$ 1M by April 24, 2020 to earn 25% interest (completed)
Phase 1
C$ 1M by April 24, 2020 to earn 25% interest (completed)
Phase 2
Additional C$ 3M by April 24, 2022 for 51% interest
(completed)
Phase 2
Additional C$ 3M by April 24, 2022 for 51% interest
(completed)
Phase 3
Additional C$ 3M by April 24, 2024 for 70% interest
Phase 3
Additional C$ 14.2M by April 24, 2026 for 80% interest (in
progress)
Phase 4
Additional C$ 10M by April 24, 2026 for 80% interest
Table 1: Comparison of Earn-in Terms
"Cordoba continues to believe Perseverance has the potential for a massive copper porphyry system
and is glad that Bell Copper is willing to work with us to adjust the Joint Venture Agreement so we could
continue to explore the Project together," commented Ms. Armstrong-Montoya, President and CEO of
Cordoba. "It is our plan to carry out an exploration program and Typhoon
TM
IP-resistivity survey at
Perseverance once we obtain sufficient exploration funding and the Typhoon
TM
system becomes
available."
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and
acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX
Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a
51% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint
Venture and Earn-In Agreement. For further information, please visit
www.cordobaminerals.com
.
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept 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. All statements included in this news release, other than
statements of historical fact, are forward-looking statements including, without limitation, that Cordoba
will fully execute its option to earn into an 80% interest in Perseverance Project; the timing and
availability of Typhoon
TM
system; the availability of exploration funding and timing on the exploration
program; and potential for a massive copper porphyry system. 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 Cordoba
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 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 required 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 under the heading "Risks and Uncertainties" 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. Readers are cautioned not to
put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/202073