Red Canyon Resources Commences Trading and Provides Corporate Summary
Suite 1210 – 1130 West Pender Street
Vancouver, British Columbia, V6E 4A4 Canada
T +1 (604) 681-9100
Red Canyon Resources Commences Trading and Provides
Corporate Summary
Vancouver, British Columbia, October 24, 2023: Red Canyon Resources Ltd. (CSE: REDC)
(the "Company" or " Red Canyon") is pleased to announce that its common shares will begin
trading on the Canadian Securities Exchange (the “CSE”) at the open of market on October 25,
2023 under the symbol “REDC”.
Company Highlights:
• Focused on impactful, value-added exploration to make discoveries of copper and copper-
gold deposits in established mineral belts in North America;
• Technically-driven management team composed of geoscientists with diverse exploration,
mining, and capital market backgrounds; focused Canadian and US based teams;
• Strong Board of Directors including Wendell Zerb , Alistair Waddell, Caleb Stroup, Cecil
Bond, and Lauren Roberts;
• 34.9 million shares outstanding, with approximately 57% management and insider
ownership. Institutional investments made by Crescat Capital and Plethora Private Equity;
and,
• Large portfolio of 100%-owned internally generated copper projects and advanced by the
Company utilizing a disciplined, methodical exploration approach.
Wendell Zerb, the Chairman and CEO of the Company, states: "This milestone marks a moment
we have been working towards for the last three years. On behalf of Red Canyon, I would like to
thank our exceptional team, all members of whom played a significant role in advancing our
portfolio of high-quality 100% owned copper and copper-gold properties. I would also like to thank
our shareholders whose long-term vision and support have allowed us to bring the Company to
this stage. We very much look forward to advancing the Company toward discovery and are
happy to welcome new shareholders as trading commences”.
Corporate Strategy:
Red Canyon is focused on exploring for copper and copper-gold related mineral systems within
mining friendly jurisdictions in North America, with a particular focus on British Columbia and the
Western United States. The Company is specifically targeting new or underexplored areas within
established, premier copper districts.
The Red Canyon team has sourced and advanced its portfolio of 100% owned projects over the
last three years using leading-edge geoscience to generate new exploration concepts. The
Company is largely focused on exploring for and acquiring new projects by staking claims on open
ground; a strategy which has enabled Red Canyon to build a portfolio of 100% owned properties,
without complicated option or earn in encumbrances.
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Red Canyon intends to drill test several priority projects in 2023 and 2024 with a goal of bringing
targets to a decision point as quickly and cost-effectively as possible. The Company also intends
to advance several additional projects to a drill stage by executin g geologic, geochemical, and
geophysical programs. Red Canyon is executing a corporate strategy of seeking out strategic
alliances and will evaluate opportunities to joint venture, option or sell projects to qualified partners
to maximize its exposure to exploration success.
Key Projects:
The Company holds a portfolio of eight 100% owned projects in British Columbia, Nevada, and
Utah. Initial advanced exploration efforts will focus on the Peak and Ping South projects in central
British Columbia where Red Canyon intends to commence drilling in Q 4 2023. Additional high
priority projects a t Scraper Springs in northeast Nevada and Kendal in west central B ritish
Columbia are expected to advance to an initial drill stage in early to mid 2024.
Figure 1: Location map of Red Canyon’s 100% owned copper and copper-gold projects
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Peak Project: The Peak Property is located in the Cariboo region of southcentral British
Columbia, approximately 30 km NE of the City of Williams Lake. Peak is a large, 6,718-hectare,
strategic land position situated in a copper‐gold district with active large scale mining operations
and excellent infrastructure. The Project is located approximately 28 km SW of the Mount Polley
copper-gold mine and 20 km SE of the Gibraltar copper-molybdenum mine. A series of complex
magnetic highs spanning over approximately 15 km of interpreted Quesnellia Island Arc Terrane
have been identified using magnetic inversion modeling and are considered by the Company to
be prospective for copper-gold. Project wide soil geochemistry has outlined anomalous areas of
copper associated with magnetic features that may reflect the presence of porphyry -type
intrusions in the bedrock. An induced polarization (IP) geophysical survey which focused on
coincident magnetic features with elevated copper in soils was recently completed by the
Company, with final results pending. The Company’s current, primary drill ready target is at Peak
Central, which represents an area of complex magnetic highs and lows associated with a ltered
and mineralized porphyritic rocks. A 2011 IP survey at Peak Central outlined a large chargeability
zone west of outcropping copper bearing porphyritic rocks which has not been drill tested . The
Company plans to drill test this high chargeability zone and an adjacent deep highly resistive zone
in late Q4 2023 or Q2 2024.
Scraper Springs Project: Scraper Springs is located in northern Nevada approximately 125 km
from the cities of Winnemucca and Elko. Scraper is 100% owned, subject to a 2% net smelter
returns royalty and consists of 190 unpatented mining claims, spanning 1,589 hectares. The
approximate 4 km x 4 km alteration footprint surrounding the Scraper Springs target is comparable
in scope to some of the world’s largest copper deposits. Previous operators at Scraper mostly
targeted shallow, high grade gold systems or Carlin related gold systems. A reinterpretation of
the alteration and geology at Scraper by Red Canyon and third-party consultants, suggests high
temperature, low pH clays and Eocene -aged intrusions at Scraper could be associated with a
deeper, large scale copper system. In 2022, Red Canyon completed a deep IP survey at Scraper,
which outlined a significant, chargeable zone never previously drill tested. One historical drill hole
approximately 1.5 km east of this new chargeability target intersected strong propylitic alteration
and ended in anomalous copper mineralization with values up to 0.17% copper. The Company
views Scraper Springs as an important, high-profile copper project.
Ping South Project: The Ping South Property comprises four contiguous mineral claims
covering 3,821 hectares in northcentral British Columbia, located approximately 50 km NW of the
City of Prince George. Ping South lies within the Quesnellia Island Arc Terrane which hosts
numerous deposits of porphyry gold -copper style mineralization, including Mount Polley and Mt
Milligan. Ping South is underlain by a northwest -trending area with an elevated magnetic
signature. Analysis of magnetic data through data inversion techniques was used to define
intrusions related to the magnetic features. Several drill targets have been identified based on
elevated copper in Mobile Metal Ion ( MMI) geochemistry associated with interpreted intrusive
centres with coincident magnetic and IP chargeability highs . Up to three of these targets are
scheduled to be drill tested in late 2023.
Kendal Project: Kendal is 100% owned and comprises of five mineral claims totalling 2,738
hectares located in west central British Columbia, approximately 25 k m northeast of the City of
Terrace. The Company interprets a large 2.5 x 1.5 km zone of highly altered surface rocks to
represent the phyllic (Q uartz-Sericite-Pyrite) alteration of a copper porphyry system. Previous
mapping and sampling also identified propyllitically altered porphyritic rock and breccia zones with
widespread anomalous copper geochemical values and highs up to 0.75% copper in rock. The
Company interprets that the current level of erosion at Kendal is likely above a more prospective
potassic alteration zone, suggesting that the main part of the copper system is preserved and
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could be open laterally and at depth. The 2023 field program included a project wide 213-line
kilometre airborne magnetic and radiometric survey and a detailed trace element ( 4-acid
digestion) surface rock sampling program designed to better vector targets for an anticipated 2024
drill program. This project has never been drill tested.
Additional information on the Peak and Scraper Springs projects can be found in the NI 43 -101
Technical Reports dated May 1, 2023 and September 26, 2023 respectively, as filed on SEDAR+
at www.sedarplus.ca.
Additional information on the Company’s other projects can be found on the Company’s website
www.redcanyonresources.com. Further projects are in development and details will be disclosed
as information comes available.
About Red Canyon Resources:
Red Canyon Resources Ltd. (CSE: REDC) is a technically -driven, discovery-focused mineral
exploration compan y focused on exploring North America ’s top copper jurisdictions. The
Company’s core goal is to make impactful copper discoveries to benefit all stakeholders and aid
in the green energy transition. Red Canyon has a portfolio of 100% owned copper and copper-
gold porphyry exploration projects . The Company’s technical team consists of experienced
geoscientists with diverse capital market, junior and major mining company backgrounds , and a
track record of success.
For more information, please visit the Company's website at www.redcanyonresources.com.
On Behalf of the Board of Directors
Wendell Zerb, P. Geol
Chairman and Chief Executive Officer
+1 (604) 681-9100
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by Mr. Wendell Zerb, P. Geol , a “Qualified Person” (“QP”) as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Forward-Looking Statements:
This news release includes certain forward -looking statements and forward -looking information
(collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation.
All statements, other than s tatements of historical fact, included herein including, without limitation,
statements regarding future capital expenditures, exploration activities and the specifications, targets,
results, analyses, interpretations, benefits, costs and timing of them, a nd the anticipated business plans
and timing of future activities of the Company, are forward -looking statements. Although the Company
believes that such statements are reasonable, it can give no assurance that such expectations will prove
to be correct. O ften, but not always, forward looking information can be identified by words such as “pro
forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
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“anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and
phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken
or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company to differ materially from
any future results, performance or achievements expressed or implied by the forward -looking statements.
Such risks and other factors include , among others, risks related to the anticipated business plans and
timing of future activities of the Company, including the Company’s exploration plans and the proposed
expenditures for exploration work thereon, the ability of the Company to obtain suffi cient financing to fund
its business activities and plans, the ability of the Company to obtain the required permits, changes in laws,
regulations and policies affecting mining operations, the Company’s limited operating history, currency
fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed
under the heading “Risk Factors” in the Company’s prospectus dated October 12, 2023 and other filings of
the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s
profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company
undertakes no obligation to update any of the forward-looking statements, except as otherwise required by
law.