CopAur Minerals Inc. Exercises Option To Acquire 79.99% Of The Kinsley Mountain Gold Project In Nevada
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CopAur Minerals Inc. Exercises Option To Acquire 79.99% Of The Kinsley
Mountain Gold Project In Nevada
News Release - Vancouver, British Columbia – May 18, 2022: Copaur Minerals Inc. (“CopAur” or the
“Company”) (TSX-V: CPAU) (OTCQB:COPAF) is pleased to announce that it has made the final option
payments to acquire Liberty Gold Corp.’s (TSX:LGD) 79.99% interest in Kinsley Gold LLC, (the “JVCO”),
a limited liability company holding ownership and leasehold rights in and to 513 unpatented claims
and 5 leased patented claims, covering 4,187 hectares, known as the “Kinsley Mountain Project”,
located in southeast Elko County, Nevada . Nevada Sunrise Gold Corporation (through its subsidiary
Intor Resources Corporation) holds the remaining 20.01% interest in JVCO.
The final payments aggregate US$2.5M t o Liberty Gold comprised of US$1,250,000 in cash and
US$1.25M in Copaur common shares totaling 2,126,451 common shares . Liberty Gold retains a 1%
NSR royalty (the “Kinsley Royalty”) on 79.99% of all proceeds received by JVCO from the production
and sale of all products produced from the Kinsley Project. The Company has an option to purchase
50% of the Kinsley Royalty from Liberty Gold upon payment of US$500,000 in cash.
Jeremy Yaseniuk, Chief Executive Officer commented, “I find it remarkable that we had the
opportunity to acquire the Kinsley asset which hosts a significant gold resource including indicated
resources of 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources
containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes) in one of the world’s
most prolific mining jurisdictions. Despite these significant gold resources, much of the property
remains untested by drilling. Our management and technical team look forward to exploring the
property and demonstrating the significant potential for new discoveries and expansion of the
existing resource base.”
About Copaur Minerals Inc.
CopAur is a Canadian exploration company focused on advancing its combined portfolio of gold and
gold-copper projects located in British Columbia and Nevada. Backed by a dynamic and experienced
team of resource sector professionals, including members of Benchmar k Metals Inc. and Thesis Gold
inc. on its advisory board.
CopAur recently completed a plan of arrangement to acquire all of the issued and outstanding
common shares of New Placer Dome under the Business Corporations Act (British Columbia) (the
“Arrangement”) on May 13, 2022 and New Placer Dome became a direct, wholly -owned subsidiary of
CopAur. New Placer Dome has options to acquire interests in the Kinsley Mountain gold project, the Bolo
project and the Troy Canyon Project, all located in Nevada.
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CopAur owns a 100% interest in the Williams gold copper project, located within the prolific Golden
Horseshoe of Northern British Columbia, Canada. Following the Arrangement and the exercise of the
option with Liberty Gold, CopAur owns a 79.99% interest in the Kinsley Mountain Gold Project, located
90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint
Venture), hosts Carlin-style gold mineralization, previous run of mine heap leach production, and NI
43-101 indicated resources containing 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes)
and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes)1.
The Bolo Project, located 90 km northeast of Tonopah, Nevada, is ano ther core asset of CopAur
following the Arrangement, similarly hosting Carlin-style gold mineralization. The Company also owns
100 percent of the Troy Canyon Project, located 120 km south of Ely, Nevada.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB , a Director of New Placer Dome and a “Qualified Person” as defined in National
Instrument 43 -101 – Standards of Disclosure for Mineral Projects . Mr. Raffle has verified the data
disclosed which includes a review of the sampling, analytical and test data underlying the information
and opinions contained herein.
For more information, please contact:
CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Servic es Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information or
statements” within the meaning of applicable securities law, including without limitation, conducting
exploration work on its projects, receipt of assays, other statements relating to the technical, financial
and business prospects of the Company and its properties, and other matters.
1 Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021, with an effective date of
May 5, 2021, and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer
Dome Gold Corp.’s Issuer Profile on SEDAR (www.sedar.com).
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Forward-looking statements address future events and conditions and are necessarily based upon a
number of estimates and as sumptions. These statements relate to analyses and other information
that are based on forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as “expects” or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that
certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved), and variations of such words, and similar expressions are not statements of historical fact
and may be forward -looking statements. Forward -looking statement are necessarily based upon a
number of factors that, if untrue, could cause the actual results, performances or achievements of the
Company to be materially different from future results, perform ances or achievements express or
implied by such statements. Such statements and information are based on numerous assumptions
regarding present and future business strategies and the environment in which the Company will
operate in the future, including the price of metals, anticipated costs and the ability to achieve goals,
that general business and economic conditions will not change in a material adverse manner, that
financing will be available if and when needed and on reasonable terms, and that third party
contractors, equipment and supplies and governmental and other approvals required to conduct the
Company’s planned exploration activities will be available on reasonable terms and in a timely
manner. While such estimates and assumptions are considered reasonable by the management of the
Company, they are inherently subject to significant business, economic, competitive and regulatory
uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause
actual events, level of activity, performance or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: (i) risks related to gold and other
commodity price fluctuations; (ii) risks and unce rtainties relating to the interpretation of exploration
results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses; (iv) that resource exploration and development is a
speculative business; (v) that the Company may lose or abandon its property interests or may fail to
receive necessary licences and permits; (vi) that environmental laws and regulations may become
more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii)
the possibility that future exploration, development or mining results will not be consistent with the
Company’s expectations; (ix) exploration and development risks, including risks related to accidents,
equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in
exploration and development; (x) competition; (xi) the potential for delays in exploration or
development activities or the completion of geologic reports or studies; (xii) the uncertainty of
profitability based upon the Company’s history of losses; (xiii) risks related to environmental
regulation and liability; (xiv) risks associated with failure to maintain community acceptance,
agreements and permissions (generally referred to as “social licence”); (xv) risks relating to obtaining
and maintaining all necessary government permits, approvals and authorizations relating to the
continued exploration and development of the Company’s projects; (xvi) risks related to the outcome
of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks
related to current global financial conditions; and (xx) other risks and uncertainties related to the
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Company’s prospects, properties and busin ess strategy. These risks, as well as others, could cause
actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements
include, but are not limited to, continued av ailability of capital and financing and general economic,
market or business conditions, the loss of key directors, employees, advisors or consultants, adverse
weather conditions, increase in costs, equipment failures, government regulations and policies,
litigation, exchange rate fluctuations, the impact of Covid -19 or other viruses and diseases on the
Company’s ability to operate, decrease in the price of gold and other metals, failure of counterparties
to perform their contractual obligations and fees charged by service providers. Investors are cautioned
that forward-looking statements are not guarantees of future performance or events and, accordingly
are cautioned not to put undue reliance on forward -looking statements due to the inherent
uncertainty of such statements. The forward -looking statements included in this news release are
made as of the date hereof and the Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.