Copperbank Reviews Copper Ridge Exploration Targets
CSE: CBK FSE: 9CP OTC: CPPKF
FOR IMMEDIATE RELEASE November 23, 2020
(CBK 2020– NR #07)
COPPERBANK REVIEWS COPPER RIDGE EXPLORATION TARGETS
Vancouver, Canada – November 23, 2020 - CopperBank Resources Corp. (“CopperBank” or
the “Company”) (CSE:CBK) is pleased to report ongoing progress in generating future exploration
targets at its 100% owned Copper Ridge Prospect, located approximately one mile (1.6 km) south-
west of its 100% owned pre-feasibility level Contact Copper Project. These projects encompass a
contiguous 5,935 acres of private property and Bureau of Land Management holdings located in
northeast Elko County, Nevada.
History of the Copper Ridge Prospect Area
The Copper Ridge prospect area was acquired by the previous operator, Enexco International (En-
exco), in a September 26, 2011 land acquisition deal from Allied Nevada Gold Corp. Before the
land acquisition, no field work was performed by Enexco in the Copper Ridge Prospect area. Dur-
ing the summer of 2012 Enexco collected a total of 28 samples over an area of approximately
1,000 acres (400 hectares) from outcrops with copper oxide showings. Copper oxides chrysocolla,
cuprite, and tenorite were found in most locations sampled along with mineral textures indicative
of hydrothermal alteration. On August 27, 2012, Enexco reported significant copper assays from
the 28 samples, returning copper grades up to 12.4 percent. These results can be viewed in the
news section of the Company website, with a reference date of June 7, 2016.
CopperBank CEO comments: “The Copper Ridge area continues to be an impressive exploration
project that could unlock significant shareholder value. Our team’s long history in the Contact
area, combined with Elko County’s vast exploration and mining culture, enable us to form various
scenarios towards important next steps for the Copper Ridge inclusive of further optimizations at
the Contact project area. With improving investor sentiment towards copper, and especially ex-
ploration, we want to highlight the various blue sky exploration opportunities that complement our
later-stage development projects.”
Next Steps And Options For Advancing The Copper Ridge Prospect
The positive results from the historical surface sampling supports further investigation towards
future exploration drilling programs at the Copper Ridge and adjacent prospects. Due to the de-
pressed copper pricing environment since the 2011 land acquisition and 2012 sampling program,
the Copper Ridge Prospect area has not been drilled tested by the Company and historic activity
is limited to small prospect pits and mine workings. The targets at the Copper Ridge Prospect are
similar to the tabular sheeted vein systems encountered at the Contact Copper Project’s historical
reserve area. Exploration success in this area could provide additional copper oxide material for
the Contact Copper Project, which has potential to produce 49 million pounds per year of electro-
lytic copper cathode as outlined in the historical 2013 Pre-feasibility Study. This study can be
found on the CopperBank website in the Contact Project area.
Qualified Person
Enexco’s samples from the Copper Ridge Area surface sampling program were prepared and an-
alyzed by SGS Minerals Services in Vancouver, Canada, an ISO/IEC 17025 certified laboratory
under supervision by Enexco’s Qualified Person, William Willoughby, PhD, PE. Dr. Willoughby
is a Qualified Person under National Instrument 43-101 and has approved the technical portions
of this press release.
About CopperBank
CopperBank is a Canadian exploration mining company focused on energy related metal explo-
ration in The United States of America. The Company trades on the Canadian Securities Exchange
– CSE- under the symbol “CBK”.
On behalf of CopperBank Resources Corp.
“Gianni Kovacevic”
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: [email protected]
Website: www.copperbankcorp.com
Advisory Regarding Forward-Looking Statements
Certain information in this release constitutes forward looking statements or information (“for-
ward-looking statements”) under applicable securities laws and necessarily involves risks and
uncertainties. Forward-looking statements included herein are made as of the date of this news
release and, except as required by applicable law, CopperBank does not undertake any obligation
to update or revise any of the forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained in this document are ex-
pressly qualified by this cautionary statement. Forward-looking statements relate to future events
or future performance and reflect management of CopperBank’s expectations or beliefs regarding
future events. In certain cases, forward-looking statements can be identified by the use of words
such as “plans”, or “believes”, or variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved” or the negative of these terms or comparable terminology. Examples of forward-looking
statements in this news release include, but are not limited to, statements with respect to the Com-
pany’s ongoing review of its existing portfolio, the involvement of CopperBank in any potential
divestiture, spin-out, partnership or other transactions involving the Company’s portfolio assets,
and the ability of the Company to complete any such transactions, the ability of CopperBank to
enter into transactions that will ultimately enhance shareholder value, and potential future work
or activities in respect of the Pyramid project or the Contact project. Although CopperBank be-
lieves that the expectations reflected in the forward-looking statements are reasonable, forward-
looking statements have been based on factors and assumptions concerning future events which
may prove to be inaccurate. Those factors and assumptions are based upon currently available
information available to CopperBank. Forward-looking statements are based, in part, on assump-
tions and factors that may change or prove to be incorrect, thus causing actual results, perfor-
mance or achievements to be materially different from those expressed or implied by forward-
looking information. Such factors and assumptions include, but are not limited to, the Company’s
ability to identify and complete one or more transactions involving the Company’s portfolio assets
that enhance shareholder value as part of management’s ongoing review of strategic alternatives
in the current market conditions. By their very nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual results, perfor-
mance or achievements to be materially different from any future results, performance or achieve-
ments expressed or implied by forward-looking statements. Such factors include, but are not lim-
ited to, the risk that the Company will not be able to identify and complete one or more transactions
involving the Company’s portfolio assets that enhance shareholder value as part of management’s
ongoing review of strategic alternatives in the current market conditions. Although CopperBank
has attempted to identify important factors that could cause actual actions, events or results to
differ materially from forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated by such forward-looking statements. Accordingly, readers
should not place undue reliance on forward-looking statements. For more information on Cop-
perBank and the risks and challenges of its businesses, investors should review the continuous
disclosure filings that are available under CopperBank’s profile at www.sedar.com.