Coast Copper Expands Knob Hill NW and Home Brew Properties and Announces AGM Results
Coast Copper Expands Knob Hill NW and
Home Brew Properties and Announces AGM
Results
TSX.V: COCO
VANCOUVER, BC
,
Dec. 7, 2023
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) is pleased to announce that it has recently expanded its Knob Hill NW
property on northern Vancouver Island and its Home Brew property in southcentral
British Columbia
("
BC
"). In addition to the recent staking, the Company also provides an update on the results from
its annual general meeting ("
AGM
") held on
Thursday, December 7, 2023
.
Knob Hill NW Property Expansion
The Knob Hill NW property is located on northern Vancouver Island, approximately 60 kilometres
("
km
") northwest of its optioned Empire Mine property. The property is located at the western end
of a 50 km trend that originates at the past producing Island Copper Mine¹ and passes through
NorthIsle Copper & Gold Inc.'s project¹ and onto the Knob Hill NW property. The new staking more
than doubles the current property size and was completed due in part to the recent news results of
NorthIsle (see Figure 1).
Coast Copper NR2023-14 Figure 1 (CNW Group/Coast Copper Corp.)
Home Brew Property Expansion
The Company significantly expanded its Home Brew property in southcentral BC, adjacent to Gold
Mountain Mining Corp.'s producing Elk Gold project¹ and internal to their mineral claim holdings. The
Home Brew property covers three known mineral occurrences (Brew,
Annie Oakley
and Toe)
hosting polymetallic vein and porphyry copper gold targets with historical results up to 2.43 grams
per tonne ("
g/t
") gold from narrow quartz veins and broad (approximately 2 km wide) copper
anomalies (greater than 189 parts per million copper) in till soils² (see Figure 2).
Coast Copper NR2023-14 Figure 2 (CNW Group/Coast Copper Corp.)
Adam Travis
, Coast Copper CEO comments:
"I'm very pleased that we were able to expand both
our Knob Hill NW and Home Brew properties by claim staking. Both properties are located in
active exploration and/or mining areas and cover prospective zones on trend which is highlighted
by mineral occurrences, similar geology and geophysical anomalies. The area around our
Scottie
West
property (in the Golden Triangle) has also been quite active with Teuton Resources Corp.
announcing some exciting surface results. While Coast Copper remains focused on the optioned
Empire Mine property, we continue to advance our other strategically located projects in a cost-
effective manner."
AGM Results
A total of 29,673,435 common shares, representing 45.79% of the issued and outstanding common
shares of the Company, were represented at the Meeting. The following resolutions were approved
by the Company's shareholders:
1
.
The number of Directors of the Company was set at four (4);
2
.
Fletcher Morgan
,
Adam Travis
,
Dale Wallster
and
Dan Berkshire
were elected Directors of the
Company to hold office until the Company's next AGM;
3
.
Davidson & Company LLP, Chartered Professional Accountants were re-appointed as the
auditors of the Company for the ensuing year and the Directors were authorized to fix their
remuneration;
4
.
Re-approval of the Company's existing fixed 20% Long-Term Incentive Plan which was originally
approved by the Board of Directors on
December 18, 2022
.
Qualified Persons
The technical information contained in this news release has been prepared, reviewed, and
approved by
Wade Barnes
, P.Geo. (BC), Coast Copper's geological consultant and a Qualified
Person ("
QP
") within the context of the Canadian Securities Administrators' National Instrument
("NI") 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine property, located on northern
Vancouver Island, BC, which covers three historical open pit mines and two past-producing
underground mines that yielded iron, copper, gold and silver. Coast Copper's other properties
include its 100% owned Knob Hill NW property located on northern Vancouver Island, its Home Brew
property in central BC, and its
Scottie West
property located in the "Golden Triangle" of northern
BC. Coast Copper's management team continues to review precious and base metals opportunities
in western
North America
.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
NR23-14
Cautionary Notes related to this news release and/or maps
1
.
This news release may contain information about adjacent properties on which Coast Copper
Corp has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent
properties are no indicative of mineral deposits on the Company's properties.
2
.
BC Minfile: Annie Oakley Minfile NO 092HNE029.
https://minfile.gov.bc.ca/Summary.aspx?minfilno=092HNE029
3
.
NorthIsle Copper and Gold Inc website.
https://www.northisle.ca/
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any
information regarding the proposed Transaction, private placement, board, and management
changes, as to our strategy, projects, plans or future financial or operating performance,
constitutes "forward-looking statements." All statements, other than statements of historical fact,
are to be considered forward-looking statements. Forward-looking statements are necessarily
based on a number of estimates and assumptions that, while considered reasonable by Coast
Copper, are inherently subject to significant business, economic, geological, and competitive
uncertainties, and contingencies. Although Coast Copper believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance. Known and unknown factors could cause actual results to differ
materially from those projected in the forward-looking statements. Such factors include but are not
limited to fluctuations in market prices, exploration and exploitation successes, continued
availability of capital and financing, changes in national and local government legislation, taxation,
controls, regulations, expropriation, or nationalization of property and general political, economic,
market or business conditions. Many of these uncertainties and contingencies can affect our actual
results and could cause actual results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-
looking statements are not guarantees of future performance and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in
this press release, or incorporated by reference, are qualified by these cautionary statements. We
do not assume any obligation to update any forward-looking statements.
SOURCE
Coast Copper Corp.
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For further information:
Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904,
Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected]
CO: Coast Copper Corp.
CNW 15:00e 07-DEC-23