Crown Mining Proposes $1,500,000 Non-Brokered Private Placement
CROWN MINING PROPOSES $1,500,000 NON-BROKERED PRIVATE PLACEMENT
TORONTO, CANADA, October 16, 2020 – Crown Mining Corporation (“ Crown” or the
“Company”) (TSX Venture: CWM) announces a proposed non-brokered private placement for
aggregate gross proceeds of up to $1,500,000 comprised of up to 30,000,000 units at a price of
$0.05 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 af ter closing. All securities issued pursu ant to this private placement will be
subject to a four (4) month hold period. Completion of the Off ering is subject to receipt of all
required regulatory and TSX Venture Exchange approvals.
The Company is continuing to design a drill program to test its high priority targets as outlined in
its August 11, 2020 press release and intends to use the procee ds of the Private Placement
towards completing this drill program in the first half of 2021.
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. Details of
the resources on Crown’s property and the parameters used to ca lculate them can be found in the
"Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-
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 r esponsible for the technical
information contained in this news release, and he has reviewed and approved this news release.
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.