World Copper Announces Closing of Cardero Plan of Arrangement
LC337583-1
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR 22-02 January 28, 2022
World Copper Announces Closing of Cardero Plan of Arrangement
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World Copper" or
the " Company"; TSXV: WCU , OTCQB: WCUFF ), announces that the previously announced plan of
arrangement whereby World Copper and Cardero Resource Corp . ("Cardero") agreed to combine their
respective businesses (the " Arrangement") has now closed. Pursuant to the Arrangement, a total of
29,389,236 common shares of World Copper have been issued to Cardero shareholders based on an
exchange ratio of 0.200795 , and Cardero has amalgamated with 1302172 B.C. Ltd . to become "Zonia
Holdings Corp.", a wholly-owned subsidiary of World Copper.
"The team at World Copper has been eagerly awaiting the addition of the Zonia property to our portfolio
and we welcome the completion of this merger ," stated Nolan Peterson, CEO of World Copper. "Zonia
will be an integral part of our development plans as we pursue our strategy of advancing and de-risking our
portfolio of assets in premier copper jurisdictions."
ABOUT ZONIA
Zonia is located in the Walnut Grove Mining District, Yavapai County, Arizona, and consist s of 261
patented (96) and unpatented (185) mineral claims, and 566.85 acres of surface rights acquired from the
State of Arizona, all totaling 4,279.55 acres.
Zonia is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late
1960s and '70s. The project has been significantly de-risked with over 50,000 metres of drilling completed
to date and with substantial amounts of detailed engineering completed. Zonia contains Measured resources
of 15.6 million short tons grading 0.43% copper (129.3 million pounds of copper), Indicated resources of
61.4 million short tons grading 0.31% copper (380.6 million pounds of copper) and In ferred resources of
27.2 million short tons grading 0.28% copper (154.6 million pounds of copper) at a 0.2% total copper cut-
off grade. A preliminary economic assessment dated April 17, 2018, eff ective date March 22, 2018
(the "PEA") was prepared by Globa l Resource Engineering Ltd., which suggests that the project can be
advanced utilizing low-cost open pit mining and heap leach with SX-EW processing to produce pure copper
cathode (a copy of the PEA technical report is available on Cardero's SEDAR profile at www.sedar.com).
Zonia was pre-stripped during mining in the late 1960s and 1970s so that, as described in the PEA, the strip
ratio is a low 1:1. Furthermore, GRE outlines a mine plan and development strategy entirely on private
land, which significantly reduces the timeline for permitting. At a copper price of $3.00/lb, Zonia shows
an after-tax NPV@6% of $225 million, and an internal rate of return ("IRR") of 29.0%.
The PEA is preliminary in nature, it 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, and, as such, there is no certainty that th e PEA results will be realized. Mineral
resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty
that all or any part of the resources will be converted into reserves.
World Copper Ltd. - 2 - January 28, 2022
NR22-02 Continued
LC337583-1
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
In addition to the established resource, the Zonia land position contains a copper-molybdenum geochemical
anomaly (associated with depressed manganese values) that is similar in intensity and scale (1000 by 1500
metres) to the main resource, and within the same prospective geology. This anomaly is located two
kilometers northeast of the resource and represents a high-priority copper-oxide porphyry exploration drill
target.
BOARD UPDATE
Concurrent with the closing of the Arrangement, Mr. Robert Kopple and Mr. Keith Henderson have been
appointed as directors of World Copper.
Nolan Peterson commented, "The addition of Mr. Kopple and Mr. Henderson to the Board of Directors of
World Copper strengthen s and enhances our already impressive Board. Mr. Kopple brings a wealth of
legal, business and transaction experience to the Board, and is a committed long -term value investor.
Mr. Henderson's considerable experience in mining will be a strong asset to the Company, and will benefit
the Board as we commit to advancing our assets, and especially our flagship asset, Escalones, in as
sustainable a manner as possible. I look forward to working with Mr. Kopple and Mr. Henderson more
closely as we grow the Company".
Mr. Robert Kopple
Robert C. Kopple is an experienced investor, businessman and lawyer. He is involved in a broad range of
corporate financing activities with public companies. Mr. Kopple is a senior partner in a law firm based in
Los Angeles specializing in estate planning, tax law and business transactions. His investments include
diverse interests in real estate and in several operating companies in mining, healthcare and technology.
Mr. Kopple is a significant investor in World Copper.
Mr. Keith Henderson
Mr. Henderson is a mining industry executive with 25 years' experience throughout Africa, Europe, and
North and South America. He was educated in Europe, graduating with B.Sc. (Hons) and M.Sc. in geology
and has extensive experience in multiple mineral deposit types and commodities.
The Company also makes the following announcement in accordance with National Instrument 62-103 The
Early Warning System and Related Take -Over Bid and Insider Reporting Issues and National Instrument
62-104 Take-Over Bids and Issuer Bids . Pursuant to the Arrangement, the Company acquired one (1)
common share of Zonia Holdings Corp. (the "Amalco Share") for each common share of 1302172 B.C.
Ltd. ("Subco") held by it prior to the closing of the Arrangement . Immediately prior to the closing of the
Arrangement, the Company did not beneficially own or have control and direction over any Amalco Shares.
Immediately after the closing of the Arrangement, the Company beneficially owns and has control and
direction over one (1) share of Amalco, representing 100% of the issued and outstanding Amalco Shares.
The Company acquired the Amalco Share pursuant to the Arrangement . However, the Company will
review its holdings from time to time and may, in the future, increase or decrease its ownership or control
over securities of Amalco as circumstances dictate. An early warning report will be filed under Amalco's
profile on the SEDAR website at www.sedar.com. A copy of the early warning report can also be obtained
by contacting Marla Ritchie, Corporate Secretary, World Copper Ltd., at 604 -638-3287 (#2710 – 200
Granville Street, Vancouver, British Columbia, Canada, V6C 1S4).
World Copper Ltd. - 3 - January 28, 2022
NR22-02 Continued
LC337583-1
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
QUALIFIED PERSON
John Drobe, P.Geo., a qualified person as defined by NI 43 -101, has reviewed the scientific and technical
information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe
is not independent of World Copper as he is a consultant of World Copper.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the
exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in
Arizona. Two of these projects have estimated resources with significant soluble copper mineralization,
and there are at least two other copper porphyry targets with exciting potential to expand the resource base.
The Zonia project was acquired as part of the previously announced merger transaction with
Cardero Resource Corp. Please refer to news releases dated April 20, 2021; June 9, 2021; September 20,
2021; November 9, 2021 and December 13, 2021 for more details.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Nolan Peterson"
Nolan Peterson
Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: [email protected]
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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World Copper Ltd. - 4 - January 28, 2022
NR22-02 Continued
LC337583-1
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
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responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward -looking information (collectively, "forward -
looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other
than statements of historical fact, included herein are forward -looking statements. Although World Copper believes
that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends",
"estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and
phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might
or will occur or be taken or achieved. Forward -looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of World Copper to differ
materially from any future res ults, performance or achievements expressed or implied by the forward -looking
information. Such risks and other factors include, among others, statements as to the anticipated business plans and
timing of future activities of World Copper, the ability of World Copper to obtain sufficient financing to fund its
business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX V),
permits or financing, changes in laws, regulations and policies affecting mining opera tions, currency fluctuations,
title disputes or claims, environmental issues and liabilities, risks relating to epide mics or pandemics such as
COVID-19, including the impact of COVID -19 on World Copper’s business, financial condition and results of
operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World
Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of
any pending litigation, env ironmental issues and liabilities, and risks related to joint venture operations, and other
risks and uncertainties disclosed in World Copper’s continuous disclosure documents. All of World Copper 's
Canadian public disclosure filings may be accessed via w ww.sedar.com and readers are urged to review these
materials.
Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake
any obligation to update any of the forward -looking statements in this news rel ease or incorporated by reference
herein, except as otherwise required by law.