Kincora Provides Update on Positive Mongolian Tax Assessment
800–1199 West Hastings Street, Vancouver, BC V6E 3T5
Phone +1 604 283 1722 Fax +1 888 241 5996
Kincora Provides Update
on Positive Mongolian Tax Assessment
• Key milestone for IBEX transaction completed post Mongolian tax office sign off
Vancouver, BC— October 25th, 2016 - Kincora Copper Limited (TSX.V: KCC) (“Kincora” or
the “Company”). As originally disclosed in the Company’s news releases dated May 25, June 8,
and September 30, 2016 (the "IBEX transaction"), Kincora is pleased to provide an update on
the IBEX transaction following sign off from the Mongolian tax authorities, a key milestone
towards the completion of the proposed mergers for the respective Kincora and IBEX
subsidiaries.
The parties to the IBEX transaction, High Power Ventures Inc., (“HPV”) and Kincora, original
tax position have been upheld, with the subsequent administration processes related to closing
the transaction ongoing and expected to shortly complete.
Sam Spring, Kincora President and CEO, stated: “It is pleasing to pass this key milestone
towards completion of the IBEX transaction and we look forward to providing further details
on the Company’s near term strategy in due course.
I would like to thank all involved, including the Mongolian Tax Authority, who ensured this
matter was addressed. This milestone supports the transition to the next stages of completing
the IBEX transaction.”
Background to the IBEX transaction
The transaction will result in a consolidated landholding of over 1,500km2, the majority of the
prospective exploration licenses which dominate a key geological trend between and along strike
from the Oyu Tolgoi and Tsagaan Suvarga (Devonian) copper mines, supporting an industry
leading proposition of copper/gold and gold targets.
• IBEX’s portfolio was secured and targets advanced by former key executives of Oyu
Tolgoi’s exploration team and focused on ‘Tier 1” gold rich copper porphyry targets.
• A large and high quality regional geophysical and surface geochemical dataset
supporting various style targets: i. Devonian porphyries; ii. “Traditional” gold rich
copper porphyries; and, iii. epithermal and Carlin-style gold deposits.
• Consolidates a regional portfolio in an underexplored but potentially world-class gold
rich copper province analogous to exploring the majority of the Northern Chile copper
belt from the 1970s.
• Strengthened team with discovery experience and complementary skill sets for
exploration through to project development internationally and in Mongolia.
800–1199 West Hastings Street, Vancouver, BC V6E 3T5
Phone +1 604 283 1722 Fax +1 888 241 5996
About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral
properties, with a focus on copper-gold projects in Mongolia. For further information:
www.kincoracopper.com.
For further information, please contact:
Sam Spring, President and Chief Executive Officer
[email protected] or +61431 329 345
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.