Kincora Executes Definitive Agreements for Divestment of Mongolian Assets
Kincora Executes Definitive Agreements for
Divestment of Mongolian Assets
Melbourne, Australia--(Newsfile Corp. - July 2, 2026) - Copper-gold explorer and hybrid project
generator Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (
Kincora
or the
Company
) is pleased to
announce it has executed Share Purchase Agreements ("Definitive Agreements") with a wholly owned
subsidiary of Tumen Ail Coal LLC (
TAC
) (such wholly owned subsidiary of TAC being a nominee of
TAC) to divest Kincora's wholly owned Mongolian subsidiaries (the "Transaction").
The aggregate staged consideration for the Transaction is US$10-million, payable in full to Kincora, free
and clear of any taxes, levies, or fees, but excluding certain contractual obligations of Kincora's.
Following the previously announced receipt of US$1.5-million Option Payment (May 19
th
, 2026 release
"
Kincora receives option payment for divestment of Mongolian assets
") and the execution of the
Definitive Agreements described above, a further US$3.5-million stage payment is due to Kincora within
five (5) business days.
A final staged payment of US$5-million is due into an escrow account for release upon registration of the
changes in the shareholders of the Mongolian subsidiaries which is anticipated to occur before year-
end.
Sam Spring, Kincora President & CEO, commented,
"
We are pleased to have achieved this significant milestone for the divestment of Mongolian asset
portfolio.
"The Transaction
materially strengthens Kincora's balance sheet, sharpens our focus on our
Australian portfolio and unlocks inherent value of one of our portfolio of projects."
About Kincora
Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused gold-copper
explorer with a hybrid project generator strategy and currently drilling at two projects (Nevertire South and
Condobolin).
The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes
multiple district-scale landholdings and scalable drill ready targets. These assets are located in
Australia's Lachlan Fold Belt, one of the globe's leading porphyry belts, and the historical Condobolin
mining field within the Cobar basin in NSW.
The Company has already unlocked over $100 million of potential partner funding for multiple earlier
stage and/or non-core porphyry projects. These initial deals have supported over 20,000 metres of
drilling and over A$10m of partner funded exploration since late 2024, with management fees and
exploration ramping up.
Various partner discussions are ongoing for its remaining 100% owned flagship and advanced
exploration stage porphyry projects.
By having a significant portfolio of partner funded large porphyry projects, and a very focused capital
efficient programs at the Condobolin and other sole funded projects, the Company is seeking to position
Kincora as a leading institutional grade explorer in the public Australian and Canadian markets, and the
leading project generator on the ASX.
The Company's website is:
www.kincoracopper.com
This announcement has been authorised for release by the Board of Kincora Copper Limited
(ARBN 645 457 763)
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sam Spring, President and Chief Executive Officer
or +61431 329 345
Kaitlin Taylor, Investor Relations
Media Contact
Julia Maguire, Managing Director, The Capital Network
or +61 2 7257 7338
Executive office
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Subsidiary office Australia
C/- JM Corporate Services
Level 6, 350 Collins Street
Melbourne, VIC, Australia 3000
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements and
"forward-looking information" within the meaning of applicable securities laws (collectively, "forward-
looking information"). Forward-looking information is generally identifiable by the use of words
"believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts",
"projects", and similar expressions, and the negative of such expressions. Such forward-looking
statements or information include but are not limited to statements or information with respect to the
Company's executed Term Sheet, Definitive Agreements and transactions with TAC. TAC and its wholly
owned subsidiary are an arms-length group with assets and operations in Mongolia. Forward-looking
statements may include estimates, plans, milestones, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Readers are cautioned not to place undue
reliance on forward-looking information and statements. In particular, the Company notes a number of
milestones and conditions precedent in the transactions with TAC.
Forward-looking information involves numerous risks and uncertainties, and actual results might differ
materially from results suggested in any forward-looking information. These risks and uncertainties
include, among other items: jurisdictional; counterparty; government approval; ESG; market; no material
adverse change; and/or, general business conditions. Although Kincora believes that the expectations
reflected in such forward-looking statements are reasonable, and noting the receipt of a non-refundable
US$1.5-million option payment and the execution of Definitive Agreements, it can give no assurance that
such expectations will prove to have been correct or the proposed transaction will met the milestones
outlined. Kincora cautions that actual performance will be affected by a number of factors, most of which
are beyond its control, and that future events and results may vary substantially from what Kincora
currently foresees. Factors that could cause actual results to differ materially from those in forward-
looking statements include: market prices; approvals; continued availability of capital and financing and
general economic; market or business conditions; and investor sentiment. Accordingly, readers should
not place undue reliance on forward-looking information and statements. Readers are cautioned that
reliance on such information and statements may not be appropriate for other purposes.
The 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 is subject to change after that date.
Kincora does not assume the obligation to revise or update these forward-looking statements, except as
may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange
accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/303693