World Copper Receives Environmental Approval for 5,000 m Diamond Drilling Campaign at Escalones
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR 22-08 March 8, 2022
World Copper Receives Environmental Approval for
5,000 m Diamond Drilling Campaign at Escalones
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World Copper" or
the "Company"; TSXV: WCU, OTCQB: WCUFF ), announces that the C ompany has received approval
from the Regional Environmental Committee (Comisión de Evalucaión Ambiental) for a 5,000 m diamond
drilling programme to be carried out at the Company's flagship 100%-owned Escalones project in Central
Chile ("Escalones" or the "Project").
On February 21, 2022 the Regional Environmental Committee approved the drilling application
Declaración de Impacto Ambiental ("DIA") submitted by World Copper's wholly-owned subsidiary and,
subsequent to this favorable decision, a Resolución de Calificación Ambiental ("RCA") was issued on
March 7, 2022. The RCA allows the Company to drill up to 5,000 m of diamond drilling in up to 11 drill-
holes at Escalones.
The Company has already commenced mobilization to the proposed drilling sites at Escalones in
anticipation of receipt of the RCA from the Regional Environmental Committee, and intends to start drilling
in the upcoming days. The main Escalones deposit remains open to expansion laterally to the south, east
and west, with only roughly half of the alteration zone drilled to date. The drilling at the Project will first
target the Mancha Amarilla lithocap ("Mancha Amarilla"), which extends one kilometre farther south from
the limit of drilling that currently defines the Escalones copper oxide inferred mineral resource estimate
(see news release dated August 23, 2021) . The geology in the southern- most drill holes and the surface
alteration at the main Escalones deposit indicates the southern half of the Escalones alteration system is
also deeply oxidized and could contain significant soluble copper mineralization. Subsequent to completing
drilling at Mancho Amarilla, the large east-flanking skarn is expected to be drilled in order to follow up on
encouraging surface sampling results from last year (see news release dated August 12, 2021).
Nolan Peterson, CEO and President of World Copper Ltd commented, "We are pleased with the receipt
of approval from the Regional Environmental Committee to carry out drilling at Escalones. This success is
the culmination of a period of intense joint effort of the World Copper team in Chile and all involved
stakeholders. This decision is a confirmation that having the right team, with the right technical expertise,
is essential to successfully meet all requirements of the comprehensive drilling approval process in Chile.
Twenty-two local and national government agencies, as well as the regional government of the Metropolitan
Region, were invited to participate and provide their respective comments during the process.
The drill programme at Escalones will be executed in strict compliance with the requirements issued in the
RCA evidencing the Regional Environmental Committee's approval. The drill programme is designed to
minimize the environmental footprint and ensure that sensitive areas are fully protected. There will be no
new roads constructed, a mobile camp will be installed and removed after the campaign terminates , and
only light equipment will be used for the drilling. We continue to engage closely with government and local
communities to ensure that interests of all stakeholders are recognized, and to protect the environment as
required by the RCA.
World Copper Ltd. - 2 - March 8, 2022
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#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
In addition, as part of the DIA, the Company proposed additional voluntary commitments, offering higher
standards of environmental and cultural protections, beyond the minimum statutory requirements. These
commitments include additional protective measures related to archeological and paleontological
monitoring, recycling of materials used during the drilling campaign, additional training of teams working
on-site rela ted to environmental and cultural heritage protection , as well as measures to protect local
biodiversity.
The Company expects to be able to publish the initial drilling results in the second half of 2022 and, will
provide updates as it continues mobilizing its team on site and start s drilling. The Company has
simultaneously commenced an in-fill sampling programme on two of the distal targets, Rio Negro and
Argüelles Este, and explor ation of eastern extensions to the East Skarn; this work is expected to be
completed in Q1 2022. The acquired geological information will allow us to continue developing the Project
and update the recently published Preliminary Economic Assessment."
About the Escalones February 2022 PEA study:
On February 15, 2022 the Company announced the results of the Preliminary Economic Assessment
("PEA") for Escalones, the highlights of which are set out below:
• $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 average 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 ha s always believed – 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
part of the Mineral Resource for which quantity and grade or qu ality are estimated on the basis of limited
geologic evidence and sampling, which is sufficient 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
World Copper Ltd. - 3 - March 8, 2022
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#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
meet the test of reasonable prospects for economic extraction. All values are reported in US dollars unless
otherwise noted.
(Further details on the Escalones PEA can be found here).
Conference Call and Webcast Information
Nolan Peterson, World Copper CEO and President will present the results of the PEA on March 22, 2022,
at 8:00AM PST on a Webcast hosted by Amvest Capital.
Please register at the following link:
https://www.amvestcapital.com/webinar-directory/worldcopper032222
A recording of the presentation will be made available after the presentation.
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., 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 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 25,000 m 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 immediately to the south of the existing
resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000 m and
3,000 m 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 on 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.
World Copper Ltd. - 4 - March 8, 2022
NR22-08 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
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.
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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Neither 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 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 including, without limitation, the timing and manner of the 5,000 m
drilling campaign at Escalones, the results of the PEA , the potential production from and viability of Escalones, the
potential tonnage, grades and content of deposits, the extent of mineral resource estimates , anticipated exploration
program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves 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 correct. Forward -looking statements are typically identified by words such as: "believes", "expects",
World Copper Ltd. - 5 - March 8, 2022
NR22-08 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
"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
be able to conduct the drilling campaign at Escalones as planned, 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, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits,
licenses and regulatory approvals in connection with the futur e development of the Company's Chilean projects in a
timely manner, including the Escalones project and the Cristal project, 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, requirements for additional capital, operating and technical difficulties in connection with mineral exploration
and development activities, actual results of exploration activities, including on the Escalones project and the Cristal
project, the estimation or realization of mineral reserves and mineral resources, the fact that the Company's interests
in the Cristal project and 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 market 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 developme nt 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 risks 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 requir ements 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. Securities 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 ", which 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 m ineral reserves" to be substantially similar to the corresponding CIM
Standards.
World Copper Ltd. - 6 - March 8, 2022
NR22-08 Continued
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
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 de finitions under the SEC Modernizati on 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.