Copper Lake Appoints Douglas Cater to Board of Directors
News Release No: 23-06
COPPER LAKE APPOINTS DOUGLAS CATER
TO BOARD OF DIRECTORS
August 22, 2023 – Toronto, ON – Copper Lake Resources Ltd. (TSX -V: CPL, Frankfurt: WOI,
OTC:WTCZF) (“Copper Lake” or the “Company”) is pleased to announce the appointment of Douglas
Cater to the Board of Directors.
Mr. Cater is a n Ontario based professional geologist who has worked extensively across Canada and
internationally for more than 35 years, with a particular focus on gold exploration in the Kirkland Lake and
Timmins areas. He has held positions with both senior and intermediate gold producers, including Barrick,
Placer Dome and Kinross. His most recent executive position was Vice President, Exploration (Canada)
with Kirkland Lake Gold Ltd. Mr. Cater is also a director of Sierra Metals Inc. , Mayfair Gold Corp. and
Exploits Discovery Corp. He is a graduate of the ICD - Rotman Directors Ed ucation Program.
In welcoming Mr. Cater, Copper Lake CEO Terry MacDonald noted: “Doug’s exceptional experience as
a geologist and his strong governance experience add to the strength of Copper Lake’s diverse Board. His
guidance and support will be extremely valuable as we continue to build on our exploration of the Marshall
Lake project, as well as future plans for the Norton Lake project.”
Mr. Cater commented: “I am pleased to be appointed to the Board of Directors of Copper Lake Resources
Ltd, and I am looking forward to contributing to the success of both the Marshall Lake and Norton Lake
projects”.
Copper Lake also announce the granting of 500,000 incentive stock options under the Company’s stock
option plan. The options are exercisable at a price of $0.05 per share up to August 21, 2028.
ABOUT COPPER LAKE RESOURCES
Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company
with interests in two projects both located in Ontario. www.copperlakeresources.com
The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of
approximately 220 square km located 120 km north of Geraldton, Ontario and is accessible by all-season
road from the Trans-Canada Highway and just 22 km north of the main CNR rail line. Copper Lake has a
79.45% interest in the joint ventured property, which consists of 233 claims and 52 mining leases . The
project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any
royalties, which add approximately 30 square km to the original property.
In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and
Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties.
The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of
the Marshall Lake property w here historical EM airborne geophysical surveys have outlined strong
conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake
property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-
round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project
is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”)
First Nations.
Copper Lake also has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and
palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the
Marshall Lake Property. The Norton Lake property has a NI 43 -101 compliant Measured and Indicated
resource of 2.26 million tonnes @ 0.67% Ni, 0.61% Cu, 0.03% Co and 0.46 g/t Pd. The Norton Lake
property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First
Nations.
On behalf of the Board of Directors,
Copper Lake Resources Ltd.
Terry MacDonald, CEO
(416) 561-3626
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 and Forward-Looking Statements
This news release includes certain forward -looking statements and forward -looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein including, without limitation, statements regarding the Private
Placement and proposed uses of the proceeds of the Private Placement, are forward-looking statements. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to
be correct. Often, but not always, forward looking information can be identified by words such as "pro forma",
"plans", "expects", "will", "may", "should", "budget", " scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to
certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to differ materially from any future results, performanc e or
achievements expressed or implied by the forward -looking statements. This forward-looking information reflects the
Company’s current beliefs and is based on information currently available to the Company and on assumptions the
Company believes are rea sonable. These assumptions include but are not limited to: TSX Venture Exchange
acceptance of the Private Placement ; Market acceptance and approvals; and the anticipated closing date for the
Private Placement . Forward -looking information is subject to know n and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking information. Such risks and other factors
may include, but are not limited to: general business, economic, competitive, political and social uncertainties;
general capital Market conditions and Market prices for securities; delay or failure to receive board or regulatory
approvals; the actual results of future operations; competition; changes in legislation, including environmental
legislation, affecting the Company; the timing and availability of external financing on acceptable terms; and lack of
qualified, skilled labour or lo ss of key individuals. A description of additional assumptions used to develop such
forward-looking information and a description of additional risk factors that may cause actual results to differ
materially from forward- looking information can be found in the Company’s disclosure documents on the System for
Electronic Document Analysis and Retrieval ( “SEDAR”) website at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or
intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not
to place undue reliance on forward -looking information as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Forward -looking information contained in this news release is
expressly qualified by this ca utionary statement. The forward -looking information contained in this news release
represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change
after such date. However, the Company expressly disclai ms any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, except as expressly
required by applicable securities law.