Copper Lake Announces $500,000 Financing
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News Release No: 17-07
COPPER LAKE ANNOUNCES $500,000 FINANCING
December 14, 2017 - Toronto, ON - Copper Lake Resources Ltd. (TSX -V: CPL, Frankfurt:
W0I) ("Copper Lake" or the "Company") announces that it is arranging a non- brokered private
placement (the “Offering”) of up to 8,000,000 Flow -Through Units (“FT Units”) and 2,000,000
Non Flow -Through U nits (“NFT Units”) to raise gross proceeds of up to $500,000 (“the
Offering”).
Each FT Unit will be issued at $0.05 and will consist of one flow -through common share and
one-half of one common share purchase w arrant (a “FT Warrant”), with each full FT Warrant
being exercisable at $0.10 for two years. Each NFT Unit will be issued at $0.05 and will consist
of one non flow -through common s hare and one full common share purchase w arrant (a “NFT
Warrant”), with each full NFT Warrant being exercisable at $0.08 for two years.
The Company intends to use the proceeds from the issuance of the FT Units to incur qualified
Canadian exploration expenses for exploration on the Marshall Lake property in connection with
the planned winter drill program. Net proceeds from the issuance of the NFT Units will be used
for general working capital purposes.
Closing of the Offering is anticipated to occur on or before December 31, 2017, and is subject to
receipt of acceptance by the TSX Venture Exchange. All securities issuabl e will be subject to a
four-month hold period from the date of closing. Finder’s fees may be payable in appropriate
circumstances in connection with the Offering, in accordance wi th the policies of 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% by incurring additional expenditures of $595,000 by July 15, 2018. The
Company can further increase its interest to 87.5% by taking the projec t to bankable
feasibility stage.
2. The Norton Lake nickel, copper, PGM property (69.79%) is located in the southern Ring of
Fire area, approximately 100 km north of the Ma rshall Lake property, and has a NI 43-
- 2 -
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101compliant measured and indicated resource of 2 .26 million tonnes @ 0.67% Ni, 0.61%
Cu, 0.03% Co and 0.46 g/t Pd.
On behalf of the Board of Directors,
“Terrence MacDonald”
Chief Executive Officer and Director
www.copperlakeresources.com
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.