Pacific Imperial Mines Signs Option Letter Agreements to Acquire 100% of TWO BC Properties with Demonstrated Porphyry Copper Potential
1700-700 West Pender Street, Vancouver, BC, V6C 1G8 Canada
Telephone: (604) 669.6332; Facsimile: (604) 681.5910
www.pacificimperialmines.com
TSXV: PPM
PACIFIC IMPERIAL MINES SIGNS OPTION LETTER AGREEMENTS TO
ACQUIRE 100% OF TWO BC PROPERTIES WITH DEMONSTRATED
PORPHYRY COPPER POTENTIAL
Vancouver, British Columbia – May 29, 2023 – Pacific Imperial Mines Inc. (TSX.V: PPM)
(“Pacific Imperial” or the “Company”) is pleased to announce it has entered into two option letter
agreements dated March 31, 2023 (“Option Agreement”) whereby the Company may acquire a 100%
interest in the two exploration projects, Pam and Babine in Central British Columbia. Both projects are
road accessible with demonstrated porphyry copper potential.
The Pam property consists of seven mineral claims covering 2,403 hectares located approximately 25
km northeast of the Huckleberry Cu-Mo Mine. The Company may exercise the option on the Pam
property by paying an aggregate cash consideration of $165,000, issuing common shares of the
Company valued at $175,00 and incurring exploration expenditures on the Property of $2,413,500 all
in staged amounts by March 23, 2027. Upon the exercise of the option, the Company will own a 100%
interest in the Pam property. The Pam property is subject to a 2% net smelter returns royalty held by
three private owners.
The Pam property is in a low lying extensively drift covered area approximately 25km northeast of the
Huckleberry Cu-Mo Mine. Past exploration has identified granitoid outcrops and float samples with
porphyry style alteration and mineralization. A small section of the property in the northeast corner
was tested with 24 shallow percussion holes with the westernmost hole returning anomalous copper
values. No follow-up drilling has been conducted. A recent regional scale airborne Z-TEM survey
carried out by Surge Copper Corp. identified an anomaly that is similar to other porphyry deposits in
the area, which is situated on the southwestern edge of the project. An exploration program consisting
of geological, geochemical and geophysical surveys is planned for further work.
The Babine property consists of three mineral claims covering 2,226 hectares located 1.5 km north of
Granisle Mine. The Company may exercise the option on the Babine property by paying an aggregate
cash consideration of $161,250, issuing common shares of the Company with a valued of $168,750
and incurring exploration expenditures on the Property of $2,354,500 all in staged amounts by March
23, 2027. Upon the exercise of the option, the Company will own a 100% interest in the Babine
property. The Babine property is subject to a 2% net smelter returns royalty held by four private
owners.
The Babine property is extensively till covered but previous exploration; including, prospecting,
geophysics and drilling located sulphide mineralization in several areas. A number of semi-circular
magnetic anomalies similar in size and shape to the Bell and Granisle mines are located on the
property but have only been subject to cursory exploration. Recent work by other companies to the
north of the Babine project have had success with deep drilling targeting pre-existing geochemical and
geophysical anomalies.
The Option Agreements are subject to the Company obtaining the approval of the TSX Venture
Exchange. The Common Shares issued under the Option Agreement will be subject to a hold period
ending four months and one day after the date of issuance in accordance with applicable securities
laws.
Qualified Person Statement
Pacific Imperial Mines disclosure of technical and scientific information in this news release has been
reviewed by Peter Holbek, Director, Pacific Imperial Mines Inc. Mr. Holbek, B.SC (Hons), M.Sc. P. Geo. is
the qualified person as defined by National Instrument 43-101 and has approved the technical
information in this release.
About Pacific Imperial Mines
Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the
acquisition, exploration, evaluation and development of mineral properties in an acceptable risk
environment. The Company’s current focus is on the Eagle Mountain Lithium property in the USA and
the Brownell property in Saskatchewan.
ON BEHALF OF THE BOARD OF DIRECTORS
“Chris McLeod”
Chris McLeod, CEO
For further information please contact:
Roman Shklanka, Chairman, at 604-649-6195,
or
Chris McLeod, CEO and President, at 604-669-6332
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or
accuracy of the contents of this News Release.