Infinitum Copper Completes Agreement to Sell Partial Interest in Hot Breccia
Infinitum Copper Completes Agreement to Sell Partial Interest in Hot Breccia
VANCOUVER, BC / ACCESSWIRE / January 30, 2023 / Infinitum Copper Corp.
(TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company") announces that it has signed an agreement
granting Prismo Metals Inc. (CSE: PRIZ, OTCQB: PMOMF) ("Prismo") the option to acquire up to a 75% interest
in the Hot Breccia project in Arizona State, by assuming all cash payment and work commitment obligations
remaining under the Option Agreement with Walnut Mines LLC ("Walnut"). Infinitum acquired the Option to earn
100% in Hot Breccia, subject to a 2% NSR to the vendor, in April 2022 (See New Release April 20, 2022). Prismo
will pay $350,000 in cash and issue 500,000 Prismo shares to Infinitum as consideration for the option. Infinitum
will be responsible for the remaining share issuance to Walnut under the Option Agreement.
On the completion of the required Work Commitment and Cash Payments by Prismo, and Share Issuance by
Infinitum, Prismo and Infinitum will form a 75:25 participating Joint Venture to hold 100% interest in Hot Breccia,
subject to the 2% NSR. The detailed obligations for Prismo and Infinitum to earn a 100% interest in Hot Breccia
from Walnut are presented in Table 1 below.
Table 1: Work, Cash and Share Issuance Obligations to earn 100% Interest in Hot Breccia:
Work Commitments Property Payments Share Payments
by Prismo by Prismo by Infinitum
2023 $500,000 $165,000 250,000
2024 $1,000,000 $100,000 500,000
2025 $1,750,000 $275,000 875,000
2026 $2,000,000 - 750,000
Total $5,250,000 $540,000 2,375,000
"Infinitum is strongly dedicated to the on-going exploration work at our flagship La Adelita property in Sonora
State, Mexico. By entering this partnership with Prismo, it allows us to focus our resources and efforts on La
Adelita, while maintaining an interest in Hot Breccia" stated Steve Robertson, President & CEO of Infinitum
Copper. He continued "This is truly a win-win scenario for all involved."
For more information, please contact Steve Robertson, President and CEO of Infinitum Copper at
[email protected], (604) 409-3917.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Steve Robertson
Chief Executive Officer
Neither 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.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the
Company has an option to earn an 80% interest. The high-grade copper-silver-gold La Adelita Project is located in
Sonora and Sinaloa states in Mexico and is subject to a 2% NSR. La Adelita is a Carbonate Replacement Deposit
located in a mineralized district with a rich history. Infinitum Copper also has an option to earn 25% interest in the
Hot Breccia project in the heart of the Arizona Copper Belt about 90km north of Tucson, AZ. The Hot Breccia
project is prospective for porphyry copper and copper skarn mineralization.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation.
The forward-looking information contained in this press release represents the expectations of the Company as of
the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is
based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by
the Company at the date the forward-looking information is provided, are inherently subject to significant risks,
uncertainties, contingencies and other factors that may cause actual results and events to be materially different from
those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other
factors that may cause actual results to differ materially from those expressed or implied by the forward-looking
information may include, but are not limited to, risks generally associated with the Company's business, as described
in the Company's Filing Statement dated February 11, 2022. There is no assurance that either Prismo or the
Company will exercise the option to acquire the Hot Breccia property, or that the Hot Breccia property will prove to
be economically viable. Readers should not place undue importance on forward-looking information and should not
rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.
SOURCE: Infinitum Copper