World Copper Files Preliminary Economic Assessment Technical Report for Escalones Project on SEDAR
#2710-200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR 22-09 March 22, 2022
World Copper Files Preliminary Economic Assessment Technical
Report for Escalones Project on SEDAR
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. ("World Copper" or
the "Company"; TSXV: WCU, OTCQB: WCUFF) announces that further to its news release dated
February 15 , 2022, it has filed on SEDAR a National Instrument 43- 101 Standards of Disclosure for
Mineral Projects ("NI 43 -101") technical report with respect to the preliminary ec onomic assessment
("PEA") for its Escalones copper project in Chile ("Escalones").
The technical report is entitled "Preliminary Economic Assessment NI 43-101 Technical Report, Escalones
Copper Project, Santiago Metropolitan Region, Chile" and is dated March 22, 2022, with an effective date
of February 15, 2022 (the "Technical Report"). The Technical Report was prepared by Global Resource
Engineering, with contributions from other firms, including Hard Rock Consulting, LLC . The Technical
Report is available on World Copper's SEDAR profile at www.sedar.com and on World Copper's website
at www.worldcopperltd.com.
Highlights of the PEA
• $1,499.6 million post-tax NPV8 at $3.60 /lb. life-of-mine ("LOM") (20-years) copper price
• $1,822.4 million post-tax NPV8 at US$4.00 /lb. LOM copper price
• First 5-years average annual Copper production of 124.7 Mlbs . (56,520 tonnes); LOM average
114.9 Mlbs. (52,131 tonnes)
• First 5-years average C1 (Cash Operating) costs of $1.13 /lb. Cu; LOM average C1 costs $1.19 /lb.
Cu
• First 5 -years average annual EBITDA $290.8 million; LOM avera ge annual EBITDA $265.1
million
• Initial Capital (CAPEX) cost of $438.4 million (from construction decision)
• LOM Sustaining Capital of $192.5 million
• Conventional heap leach, SX -EW processing facilities, targeting 50,000 tonnes of heap leach
tonnes placed per day
The exceptional results of the Escalones PEA confirm what World Copper has always anticipated – that
Escalones has the potential to be one of the most impressive copper properties in South America. Escalones
now joins a peer group of large -scale, study-backed, development stage assets. Escalones has several
attributes that make it attractive for development including robust economics, strong value metrics and the
potential of rapid returns for a comparably low capital investment. The results of the PEA, combined with
Escalones' large land package and resource expansion potential, make it a truly outstanding project.
The PEA is considered preliminary in nature, contains numerous assumptions and includes Inferred Mineral
Resources that are considered too speculative, geologically , to have the economic considerations applied
that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the
PEA will be realized. No Mineral Reserves have been estimated for Escalones. Mineral Resources are not
Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are that
World Copper Ltd. 2 March 22, 2022
NR 22-09 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
part of the Mineral Resource for which quantity and grade or quality are estimated on the basis of limited
geologic evidence and sampling, which is s ufficient to imply but not verify grade or quality continuity.
Inferred Mineral Resources may not be converted to mineral reserves. It is reasonably expected, though
not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral
Resources with continued exploration. Mineral Resources are captured within an optimized pit shell and
meet the test of reasonable prospects for economic extraction. All values are reported in US dollars unless
otherwise noted.
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 the Company as he is the Chief Geologist of the Company.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headq uartered 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 minerali zation,
and each has additional copper porphyry targets with exciting potential to expand the resource base.
About Escalones
The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes
of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The
3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The
Company is focused on exploring the Mancha Amarilla target immediatel y to the south of the existing
resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000 m
and 3,000m in diameter, lie 8-10 km to the north of the main discovery.
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. Inferred resources are that part
of a mineral resource for which quantity and grade or quality are estimated based o n limited geological
evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated
resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface
rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having
already been mined in the late 1960s and '70s. The Project is at the PEA level and has been significantly
de-risked with over 50,000 m of drilling completed to date and with substantial amounts of detailed
engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members
having worked in the country for more than 40 years and with discovery success.
Detailed information is available at World Copper's website at www.worldcopperltd.com, and for general
Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
World Copper Ltd. 3 March 22, 2022
NR 22-09 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Nolan Peterson"
Nolan Peterson
Chief Executive Officer and President
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
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts 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 historica l fact, included herein including, without limitation, the results of the PEA, the potential
production from and viability of Escalones, the potential tonnage, grades and content of deposits, the discovery and
delineation of mineral deposits/resources/rese rves and the anticipated business plans and timing of future activities
of the Company are forward-looking statements. Although the Company believes that such statements are reasonable,
it can give no assurance that such expectations will prove to be corr ect. 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. In
making the forward-looking statements in this news release, the Company has applied several material assumptions ,
including without limitation, that the Company will receive all necessary approvals required to develop Escalones as
outlined in the PEA, that the assumptions in the PEA are reasonably accurate, that market fundamentals will result
in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in
connection with the future development of the Company's Chilean projects in a timely manner, including Escalones,
the availability of financing on suitable terms for the development, construction and continued operation of the
Company's projects and its ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to differ materially from any future results, performance
or achievements expressed or implied by the forward- looking information. Such risks and other factors include,
among others, re quirements for additional capital, operating and technical difficulties in connection with mineral
World Copper Ltd. 4 March 22, 2022
NR 22-09 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
exploration and development activities, actual results of exploration activities, including on Escalones, the estimation
or realization of mineral reserves a nd mineral resources, the fact that the Company's interests in the Escalones
exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the
timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing
of the development of new deposits, requirements for additional capital, future prices of copper, changes in general
economic conditions, changes in the financial markets and in the demand and mar ket price for commodities, lack of
investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in
obtaining governmental approvals (including of the TSX Venture Exchange), permits or financing or in the completion
of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the
impact of COVID –19 on the Company's business, financial condition and results of operations, changes in laws,
regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any
necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation,
environmental issues and liabilities, and ri sks related to joint venture operations, and other risks and uncertainties
disclosed in the company's continuous disclosure documents. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake
any obligation to update any of the forward- looking statements in this news release or incorporated by reference
herein, except as otherwise required by law.
Cautionary Note to United States Investors
World Copper prepares its disclosure in accordance with the requirements of securities laws in effect in Canada,
which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this news release
are defined in accordance with NI 43 -101 under the guidelines set out in CIM Definition Standards on Mineral
Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on
May 19, 2014, as amended ("CIM Standards"). The U.S. Secur ities and Exchange Commission (the "SEC") has
adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize
the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S.
Securities Exchange Act of 1934.
As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of "measured
mineral resources", "indicated mineral resources" and "inferred mineral resources", whic h are defined in
substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of
"proven mineral reserves" and "probable mineral reserves" to be substantially similar to the corresponding CIM
Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions
under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM
Standards. Accordingly, there is no assurance any mineral resources that World Copper may report as "measured
mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43- 101 would be the
same had World Copper prepared the resource estimates under the standards adopted under the SEC Modernization
Rules.
In accordance with Canadian securities laws, estimates of "inferred mineral resources" cannot form the basis of
feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.