Copper Lake Acquires Marshall Lake CAMP Assets and Extends Option Agreement
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News Release No: 17-04
COPPER LAKE ACQUIRES MARSHALL LAKE CAMP ASSETS
AND EXTENDS OPTION AGREEMENT
April 18, 2017 – Toronto, ON - Copper Lake Resources Ltd. (TSX -V: CPL, Frankfurt: W0 I)
(“Copper Lake” or the “Company”) is pleased to announce it has signed an agreement with
Rainy Mountain Royalty Corp. (‘RMO’) to acquire all of the camp assets owned by RMO at the
Marshall Lake property. Copper Lake and RMO have also agreed to extend the option
agreement for a further 12 months, to July 15, 2018. As consideration for the purchase of the
camp assets and the one- year extension of the option agreement , Copper Lake will issue a total
of 600,000 shares to RMO.
Terry MacDonald, Interim CEO stated “The purchase of the Marshall Lake camp assets now
gives Copper Lake full operational control over the property, and will allow us to upgrade the
camp in preparation for the planned summer drilling program. T he extension of the option
agreement gives us added flexibility in com pleting the terms of the option agreement to increase
our interest to 75%.”
The agreement is subject to approval by the TSX Venture Exchange.
About Copper Lake Resources
Copper Lake Resources Ltd. is a publicly traded Canadian company currently focused on
advancing two significant properties located in Ontario, Canada:
1. The Marshall Lake VMS copper, zinc, silver and gold property is an advanced exploration
stage property located 120 km north of Geraldton, Ontario via good all weather gravel road
from the Trans-Canada Highway and just 22 km north of the main CNR rail line.
Copper Lake currently has a 68.75% interest in the property and has the option to increase its
interest to 75% b y incurring additional expenditures of $670,000 by July 15, 2018. The
Company can further increase its interest to 87.5% by taking the project to bankable
feasibility stage.
2. The Norton Lake nickel, copper, PGM property (69.79%) is located approximately 100 km
north of the Marshall Lake property.
The Company also recently entered into a mineral property option agreement to acquire up to
100% of four separate properties in Ontario made up of se ven claims. The properties are
situated in the Kenora and Patricia mining divisions in Northweste rn Ontario and are known as
the Queen Alexandria Gold Property, the Mine Lake Gold Property, the Grand Chibougamau
Gold Property and the Centrefire-Redhat Gold-Copper Property.
On behalf of Copper Lake Resources Ltd.
“Terrence MacDonald”
Director and Interim CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the
adequacy or accuracy of this release. This news release includes certain statements that may be deemed
"forward-looking statements". All statements, other than statements of historical facts, that address such
matters as future exploration, drilling, exploration activities, potential mineralization and resources and
events or developments that the Company expects, are forward looking statements and, as such, are subject to
risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although
the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments
may differ materially from those in forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include such matters as market prices, exploitation
and exploration results, continued availability of capital and financing, and general economic, market or
business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary
statement. The information contained herein is stated as of the current date and subject to change after that
date.