Crown Mining Proposes $800,000 Non-Brokered Private Placement
CROWN MINING PROPOSES $800,000 NON-BROKERED PRIVATE PLACEMENT
TORONTO, CANADA, February 8, 2018 - Crown Mining Corporation (“ Crown” or the
“Company”) (TSX Venture: CWM) announces a pr oposed non-brokered private placement for
aggregate gross proceeds of up to $800,000 comp rised of up to 4,000,000 units at a price of
$0.20 per unit (each such unit being comprised of one common share and one half of one
warrant) (the " Offering"). Each whole warrant will entitle the holder to purchase one common
share for $0.25 at any time within 2 years after closing subject to an acceleration clause. All
securities issued pursuant to this private place ment will be subject to a four (4) month hold
period. The Company proposes to pay to eligible finders a finder’s fee equal to a cash payment of
8% of the gross proceeds raised and issuance of broker units at 8% of the units issued. Each
broker unit will entitle the holder to purchase on e unit (each such unit being comprised of one
common share and one half of one broker warrant, with each whole broker warrant entitling the
holder to purchase one common share for $0.25 at any time within 2 years after closing subject to
an acceleration clause) for $0.20 at any time w ithin 2 years after cl osing subject to an
acceleration clause. The Company reserves the righ t to increase or decrease the size of the
Offering. Completion of the Offering is subject to receipt of all requi red regulatory and TSX
Venture Exchange approvals.
The Company intends use the proceeds of the Pr ivate Placement to make the final payment for
the acquisition of the Moonlight property and for general working capital purposes.
In addition, the Company announces that ince ntive stock options to purchase up to 830,000
common shares of the Company have been granted to various cons ultants, officers and directors
of the Company pursuant to the Company’s stoc k option plan and subject to any regulatory
approval. Each stock option is exercisable at $0.20 for a period of three years from the grant
date. All securities issued pursuant to this optio n grant will be subject to a four (4) month hold
period from the date of grant if exercised with the first four months from the date of grant.
Crown controls approximately 15 square miles of patented and unpatented federal mining claims
in the Light’s Creek Copper District; essentially, the entire District. The District contains
substantial copper (silver) sulf ide 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 Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s.
The three deposits host the following National Instrument 43-101 (“NI 43-101”) resources,
calculated using ordinary kriging and a cutoff grade of 0.20% copper:
Deposit Tonnes Grade Copper
(tons in brackets) (%) (pounds)
Moonlight (Indicated) 146 million (161mm) .324 1.04 billion
Moonlight (Inferred) 88 million (88mm) .282 496 million
Superior (Inferred) 54 million .41 487 million
Engels – oxide (Inferred) 2.5 million 1.05 60 million
Further details of these resources and the parameters used to cal culate them can be found in the
Technical Report on the Moonlight Copper Pr operty dated April 12, 2007 and the Technical
Report on the Superior Project dated November 7, 2014 filed on Sedar.com. Additional historical
resource estimates are also disclosed in these reports.
As announced in its press rel ease of November 27, 2017 Crown has retained Tetra Tech to
complete a Preliminary Economic Assessment (“PEA”) on the Moonlight deposit. Results of the
PEA are anticipated by the end of the 1st quarter, 2018.
Mr. George Cole is the Qualified Person pursu ant 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, President, CE O 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 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”, “p lanned” 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 offered or sold in the United St ates absent registration or applicable exemption from the
registration requirements.