Vancouver, Canada – April 24, 2024 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased to announce that its Peruvian subsidiary Sombrero Minerales S.A.C. has now received all permits, including the water permit, required for drilling at its Sombrero Project ("Sombrero" or the "Project") in Peru (see Figure 1 for the permitted area). The Sombrero Project represents a rare exploration opportunity to potentially expand the prolific Andahuaylas-Yauri trend, host of world-class copper mines such as Las Bambas, Haquira, Los Chancas, Cotabambas, Constancia, Antapaccay, and Tintaya. Coppernico’s next step includes finalizing additional capital to fund drilling now that permits are secured.
Figure 1 – Permitted Drill Area at the Sombrero Main/Nioc Area1
Ivan Bebek, CEO of Coppernico commented, "Receiving the final permit puts the Company in a position to commence the first copper-focused exploration program at its Sombrero Project. We are thankful for the cooperation and the support of the local community as well as to our shareholders who have waited patiently for these permits."
Mr. Bebek added, "The timing of this milestone – obtaining drill permits after recently completing a 3-year surface access agreement with the local community – coincides very well with current rising copper prices which are supported by a strong outlook for copper."
ON BEHALF OF THE BOARD OF DIRECTORS
Ivan Bebek
Chair & CEO
For further information, please contact:
Coppernico Metals Inc.
Phone: +1 778 729 0600
Email: [email protected]
Website: www.coppernicometals.com
Twitter: @CoppernicoMetal
LinkedIn: www.linkedin.com/company/coppernico-metals/
About Coppernico
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through careful project evaluation and exploration excellence in pursuit of the discovery of world-class copper-gold deposits in South America. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company, through its Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Sombrero project in Peru, its flagship project, and is reviewing additional premium projects in South America.
The Sombrero Project is a land package of approximately 100,000 hectares located in the north-western margins of the world-class Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems, and precious metal epithermal deposits. The Company is in the final stages of preparing a NI 43-101 technical report which focuses on the Sombrero Main and Nioc target areas.
Coppernico is currently an unlisted public reporting issuer. The Company intends to seek a listing on a recognized stock exchange once it qualifies to do so. For more information, please visit www.coppernicometals.com.
Cautionary Note
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events about which there cannot be any certainty. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular, and without limitation, this news release contains forward-looking statements pertaining to the Company’s exploration and drill plans and the Company’s plans to finance and list the Company’s shares on a recognized stock exchange. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s continuous disclosure filings with the Canadian Securities Administrators, available at www.sedar.com.
No regulatory organization has approved the contents hereof.
1 The map illustrates the primary area of interest related to the drill permit covering a span of 563.37 hectares. There are 3 additional smaller areas, not depicted in the map, which collectively contribute to the total Permit land package of 972.92 hectares.