Crown Mining Proposes $100,000 Non-Brokered Private Placement
CROWN MINING PROPOSES $100,000 NON-BROKERED PRIVATE PLACEMENT
TORONTO, CANADA, February 20 , 20 20 - Crown Mining Corporation (“ Crown” or the
“Company”) (TSX Venture: CWM) announces a proposed non -brokered private placement for
aggregate gross proceeds of u p to $100,000 comprised of up to 2,000,000 units at a price of
$0.05 per unit (each such unit being comprised of one common share and one warrant) (the
"Offering"). Each warrant will entitle the holder to purchase one common share for $0. 05 at any
time within 3 years after closing subject to an acceleration clause. All securities issued pursuant
to this private placement will be subject to a four (4) month hold period. Completion of the
Offering is subject to receipt of all required regulatory and TSX Venture Exchange approvals.
The Company intends to use the proceeds of the Private Placement for general working capital
purposes.
About Crown Mining Corp.
Crown controls approximately 15 square miles of patented and unpatented federal mining claims
in th e Lig ht’s Creek Copper District in Plumas County, NE California; essentially, the entire
District. The District contains substantia l copper (silver) sulfide and copper oxide resources in
three deposits – Moonlight, Superior and Engels, as well as several partially tested and untested
exploration targets.
The Superior and Engels Mines operated from about 1915 -1930 producing over 161 million
pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold
credits.
The Moonli ght D eposit was discovered and drilled by Placer Amex during the 1960’s. A
Preliminary Economic Assessment Study ("PEA"), prepared b y Tetra Tech Inc., had the
following highlights:
➢ After-tax NPV of US$179M at a 8% discount rate and a $3.15 copper price.
➢ After tax IRR of 14.6%
➢ Initial Capital Cost: US$513M, including a contingency provision in the amount of US$71M
➢ Plant Processing Rate: 60,000 tons per day (STPD)
➢ Average Copper Recovery: 86.0%
➢ Mine Life: 17 years, based on the existing Mineral Resource estimate
➢ Life of mine copper production of 1.5 billion pounds
Please note the PEA is preliminary in nature and includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that
would enable them to be categorized as mineral reserves. Furthermore, there is no certainty that
the preliminary economic assessment will b e realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. Readers are encoura ged t o read the
technical report when it is filed.
Further details of the PEA and the resources on Crown’s property and the paramet ers used to
calculate them can be found in the "Technical Report and Preliminary Economic Assessment for
the Moonlight Depos it, M oonlight-Superior Copper Project, California, USA" dated April 12 ,
2018 on both the company’s website at www.crownminingcorp.com or on www.sedar.com under
the Crown Mining Corp profile.
Mr. George Cole is the Qualified Person pursuant to NI 43 -101 responsible for the technical
information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, P resident, CEO and Director, Crown Mining Corporation (416) 361-2827 or
email [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the po licies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press r elease contains forward -looking statements within the meaning of applicable Canadian and U.S.
securities laws and regulations, inclu ding statements regarding the future activities of the Company. Forward -
looking statements reflect the current beliefs and expectations of management and are identified by the use of words
including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may
differ significantly. The achievement of the results expressed in forward -looking statements is subject to a number of
risks, including those described in the Company’s management discussion and analysis as fi led with the Canadian
securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not t o place undue
reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any
jurisdiction. The common shares will not be and have not been registered under the Uni ted States Securities Act of
1933 and may not be offered or sold in the United States absent registration or applicable exemption fr om the
registration requirements.