Crown Mining Proposes $120,000 Non-Brokered Private Placement
CROWN MINING PROPOSES $120,000 NON-BROKERED PRIVATE PLACEMENT
TORONTO, CANADA, June 5, 2019 - Crown Mining Corporation (“ Crown” or the
“Company”) (TSX Venture: CWM) announces a proposed non-brokered private placement for
aggregate gross proceeds of up to $120,000 comprised of up to 2 ,000,000 units at a price of
$0.06 per unit (each such unit bein g comprised of one common sh are and one warrant) (the
"Offering"). Each warrant will entitle the holder to purchase one common share for $0.10 at any
time within 3 years after closing subject to an acceleration cl ause. All securities issued pursuant
to this private placement will be subject to a four (4) month h old 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 Placemen t for general working capital
purposes.
About Crown Mining Corp.
Crown controls approximately 15 square miles of patented and un patented federal mining claims
in the Light’s Creek Copper District in Plumas County, NE Calif ornia; essentially, the entire
District. The District contains substantial copper (silver) su lfide and copper oxide resources in
three deposits – Moonlight, Superior and Engels, as well as sev eral partially tested and untested
exploration targets.
The Superior and Engels Mines operated from about 1915-1930 pro ducing over 161 million
pounds of copper from over 4 million tons of rock containing 2. 2% copper with silver and gold
credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s. A
Preliminary Economic Assessment Study ("PEA"), prepared by Tetr a 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 infer red mineral resources that are
considered too speculative geologically to have the economic co nsiderations applied to them that
would enable them to be categorized as mineral reserves. Furthe rmore, there is no certainty that
the preliminary economic assessment will be realized. Mineral r esources that are not mineral
reserves do not have demonstrated economic viability. Readers a re encouraged to read the
technical report when it is filed.
Further details of the PEA and the resources on Crown’s propert y and the parameters used to
calculate them can be found in the "Technical Report and Prelim inary Economic Assessment for
the Moonlight Deposit, Moonlight-S uperior Copper Project, Calif ornia, 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 r esponsible 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, President, CEO and Director, Crown Mining Cor poration (416) 361-2827 or
email [email protected].
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S.
securities laws and regulations, including statements regarding the future activities of the Company. Forward-
looking statements reflect the current beliefs and expectat ions 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 manag ement discussion and analysis as filed with the Canadian
securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to 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 United States Securities Act of
1933 and may not be o ffered or sold in the United States absent registration or applic able exemption from the
registration requirements.