Aguila Copper Acquires Multiple Copper-Zinc-GOLD Resources IN the Sherridon District, Manitoba
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AGUILA COPPER ACQUIRES MULTIPLE COPPER-ZINC-GOLD RESOURCES IN THE
SHERRIDON DISTRICT, MANITOBA
Vancouver, British Columbia – December 7, 2021: Aguila Copper Corp. (formerly Ag uila American
Gold Limited) (“Aguila” or the “Company”) (TSX-V: AGL) (OTCQB: AGLAF) (WKN: A2DR6E) is pleased
to announce signing of a binding Option Agreement (the “Option Agreement ”) dated 6 December, 2021 with a
private British Columbia company (the “Vendor”), to secure rights to earn up to 90% of 28 Mining Claims and 1
Mineral Lease totaling 4968 Ha covering the Sherridon mining district in central western Manitoba (the
“Property”).
Sherridon is one of Canada’s notable Volcanic Hosted Massive Sulphide (VHMS) mining camp s, that lies 65km
northeast of the mining/metallurgical complex in Flin Flon, linked by an all-weather 78 km road. The site is serviced
by a railroad, power line and the small community of Sherridon/Cold Lake.
Mining of the Sherritt Gordon deposit at Sherridon took place between 1931 and 1951, over which time 7.74 million
tonnes were mined at an average grade of 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t Ag (Froese & Goetz, 1981).
Subsequent exploration was completed in the region by a range of companies, which identified numerous massive
sulphide occurrences, typically associated with a similar host-horizon as Sherritt Gordon (Ostry et al, 1998).
Exploration activity peaked with the investment of the Vendor between November 2006 and July 2010, including
the drilling of 159 holes and estimation of near surface indicated and inferred mineral resources. Additional in-fill
and along strike drilling was completed at the project subsequent to resource calculation. No exploration activity is
documented after November 2012. Today, the Vendor is the registered 100% owner of 28 Mining Claims and 1
Mineral Lease covering the Sherridon mining district (see Figure 1) for a total of 4968 Ha. Some Mining Claims are
the subject of royalty agreements relating to prior contracts and agreements.
Full technical data pert aining to the acquisition will be shared at the satisfactory completion of a 40 -day due
diligence period. The executed Option Agreement is binding upon the Vendor . The obligations of the Company
under the Option Agreement are subject to the approval of the TSX Venture Exchange (the “Exchange”). The
closing date of the Option Agreement will be two business days following the receipt of Exchange approval, or such
other date as agreed to by the parties (the “Closing Date”).
The Sherridon Option Agreement requires Aguila pay CA$15,000 cash. To keep the Option Agreement in good
standing, Aguila must issue to the Vendor 100,000 fully paid shares in the Company within six months of the
Closing Date, and incur exploration expenditures of CA$100,000 before the first anniversary of closing. Aguila will
earn an 80% interest in the Property by incurring an additional CA$900,000 exploration expenditures by the 4th
anniversary, and earn an additional 10% (for a total of 90%) by incurring an additional CA$1,000,000 of exploration
expenditures by the seventh anniversary . Upon exercise of the option, the Vendor and Aguila will form a joint
venture to advance the Property. The Vendor may then fund project expenditure in proportion to its interest in the
Property, or its interest will be converted into a 1.5% net smelter royalty that is purchasable by the Company for
CA$2,000,000 at any time. All shares issued pursuant to the terms of the Option Agreement ar e subject to a hold
period under applicable securities laws for a period of four months from the date of issuance.
The 40-day due diligence period shall allow Aguila to collate past exploration data and gain a full understanding of
past royalty agreements.
“The Sherridon mining district is a strategic acquisition for Aguila alongside our US portfolio” said Mark Saxon, CEO
of Aguila Copper Corp. “Our focus during 2021 has been to identify copper -rich projects, of attractive geological
styles, within mining supportive jurisdictions. This Sherridon acquisition has exceeded our expectations, and,
subject to final due diligence, provides an excellent flagship asset alongside our recent US acquisitions. VHMS style
deposits are one of the largest producers of copper, zinc and gold globally, including such world class deposits as
Neves Corvo, Kidd Creek, and the Bathurst camp.”
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We are excited to have this opportunity to play a role in the energy transition, with a high quality copper asset
close to existing mining and processing infrastructure.”
Figure 1: Location map for the Sherridon copper district in central western Manitoba, Canada.
Other significant mines, deposits and mineral districts shown.
Goetz, P., & Froese, E., 1981, The Sherritt Gordon Massive Sulphide Deposit. Precambrian Sulphide Deposits, H.S. Robinson
Memorial Volume, edited by R.W. Hutchinson, C.D. Spence and J.M. Fran klin, Geological Association of Canada Special Paper
25, 1982
Ostry, G., Athayde, P., & Trembath, G., 1998, Mineral Deposits and Occurrences in the Sherridon Area, NTS 63N/3. Mineral
Deposit Series Report No. 17, Manitoba Energy and Mines Geological Survey
Technical Background
The Company has obtained historic exploration data for this press release from Manitoba Agriculture and Resource
Development, and other public archives. Although historic exploration data was generated by reputable companies
applying practice of the day, Aguila cannot verify the data or determine the quality assurance and quality control
measures applied in generating the data. Furthermore, there is no guarantee that the exploration history is fully
captured. Accordingly, the Company cautions that the exploration data reported in this news release may not be
reliable. Readers are cautioned that a "qualified person" as defined by National Instrument 43 -101 has not
completed sufficient work to be able to verif y the historical information, and therefore the information should not
be relied upon.
The qualified person for the Company's projects, Mr. Mark Saxon, the Company’s Chief Executive Officer, a Fellow of the
Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and
verified the contents of this release.
About Aguila Copper Corp (TSX.v: AGL) (OTC: AGLAF) (WKN: A2DR6E)
Aguila Copper Corp is an emerging copper and precious metal company enhancing shareholder value through
exploration and discovery.
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ON BEHALF OF THE BOARD,
“Mark Saxon”
Mark Saxon
President & CEO
For further information, please contact:
aguilacopper.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
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.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward- looking information. Forward looking statements are
often, but not always, identified by the use of words such as "seek", "anticipate ”, "plan", "continue”, "estimate”, "expect",
"may”, "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based
upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain
cases, informati on provided or disseminated by third parties. Forward -looking statements in this news release include
statements regarding the closing of the transactions contemplated in the Option Agreement, the exercise of the option and the
Exchange approval of the Option Agreement. Although the Company believes that the expectations reflected in such forward-
looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable,
they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue
reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from
results contemplated by the forward- looking statements. Accordingly, the actual events may differ materially from those
projected in the forward- looking statements. Such risks include the ability of the Company to complete all payments, share
issuances and expenditures required under the Option Agreement, the Exchange approval to the Option Agreement and
uncertainties relating to exploration activities. When relying on forward- looking statements to make decisions, investors and
others should carefully cons ider the foregoing factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any forward- looking statements, except as may be
required by applicable securities laws.