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TORONTO, 05 nov. 2024 (GLOBE NEWSWIRE) — Doré Copper Mining Corp. (« Golden Copper “) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce, following its press release dated October 15, 2024, an update on the definitive arrangement agreement (the “ entente ») avec Cygnus Metals Limited (ASX: CY5) (« Cygnus “) pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper (the ” shares of Doré Copper “) by means of a plan of arrangement approved by the court under the Canadian Business Corporations Act (the ” transaction »).
One of the key obligations of the deal has been met, with Cygnus successfully raising a minimum of A$5.0 million in a first tranche (see ASX announcement dated October 17 2024).
Cygnus Metals Limited (ASX:CY5) announced that it has received commitments from institutional and sophisticated investors to raise A$11.0 million (before fees) through the issue of 152,777,778 fully paid ordinary shares of the company at an issue price of A$0.072 per share (“ placement “). The placement was extremely well received and oversubscribed.
Agreement with Epstein Research
Doré Copper has entered into a paid advertising services agreement with Peter Epstein (“ Epstein Research ) on October 22, 2024 in order to increase investor engagement and create greater awareness for the company. The Epstein Research retainer is for an initial term of six (6) months and may be renewed or canceled in accordance with its terms. Epstein Research operates out of New York, New York, and provides promotional services, including online and social media advertising by displaying Doré Copper on the Epstein Research homepage, CEO.ca, Substack, and Linked-In; monthly articles written about Doré Copper and/or company interviews written exclusively by Peter Epstein; and frequent online commentary on Doré Copper on websites such as CEO.ca, Stockhouse, TalkMarkets, Linked-In, and Twitter/X.
Doré Copper agreed to pay Epstein Research US$2,000 per month for these services. The service agreement does not provide for common shares or options to be received as compensation. Additionally, Epstein Research is an unrelated and unaffiliated entity of the Company and, at the time of the Agreement, Mr. Epstein held securities of the Company.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. aims to be the next copper producer in Quebec, with an initial production target of more than 50 million pounds of copper equivalent annually, by implementing a hub-and-spoke operating model where several copper-gold assets high grade would feed its Copper Rand central processing plant1. Doré Copper published its EEP in May 2022 and is currently carrying out a feasibility study. The Company has consolidated a large portfolio of properties in the prolific Lac Doré-Chibougamau and Joe Mann mining camps, which produced 1.6 billion pounds of copper and 4.4 million ounces of gold2. The property portfolio includes 13 former mines, deposits and resource target areas within a 60 kilometer radius of the Company’s Copper Rand mill.
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (possibly acquiring up to 70%), Auclair Lithium Project and Sakami Lithium Project in the Class Lithium District. world of James Bay in Quebec, Canada. Additionally, Cygnus owns REE and base metals projects at Bencubbin and Snake Rock in Western Australia. Cygnus’ board of directors and technical management team have a proven track record of exploration and wealth creation for shareholders and all stakeholders over the past several years. Cygnus’s concessions cover early-stage exploration areas through to advanced targets ready for drilling.
For further information about Doré Copper, please contact:
Site web : www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter : @DoreCopper
Instagram : @DoreCopperMining
Caution Regarding Forward-Looking Statements
This press release includes certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, ” forecast”, “expect”, “potential”, “project”, “target”, “timeline”, “budget” and “intend”, as well as statements that an event or outcome “may” , “will”, “should” or “could” occur or be achieved and other similar expressions, including their negative form. All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the proposed transaction and its terms, the consummation of the transaction, including the receipt of all necessary court, shareholder and regulatory approvals and the timing thereof, the listing of Cygnus’ shares on the TSX-V or other recognized North American stock exchange and the intention of the parties to pursue such listing , the Cygnus equity financing and its terms, as well as the plans, activities and prospects of Doré Copper and its properties, are forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that could cause actual results to be affected. Actual and future events differ materially from those expressed or implied in these forward-looking statements. These factors include, without limitation, the ability to obtain approvals relating to the transaction and to consummate the transaction, the ability to obtain approvals for the listing of Cygnus’ shares on the TSXV or another recognized North American stock exchange, the risks of integration, the actual results of current and future exploration activities, the benefits of the use of certain technologies, the ability of past successes and track records to determine future outcomes, changes in project parameters and/or economic evaluations, availability of capital and financing on acceptable terms, general economic, market conditions or business, future metal prices, uninsured risks, estimated cost risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other related risks exploration or other risks detailed in this document and, from time to time, in documents filed by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, these events or results differ significantly from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this press release.
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1 Technical report entitled “ Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada », dated June 15, 2022, in accordance with the requirements of Regulation 43-101 respecting information concerning mining projects. The technical report was prepared by BBA Inc., with input from several consulting firms for sections of the study, including SLR Consulting (Canada) Ltd, SRK Consulting (Canada) Inc. and WSP Inc.
2 Historical production data sources: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Capais-Chibougamau Mining Camp, Northeastern Abitibi, Canadaby François Leclerc et al. (Lac Doré/Chibougamau mining camp) and technical report compliant with Regulation 43-101 on the Joe Mann property dated January 11, 2016, prepared by Geologica Groupe-Conseil inc. for Jessie Resources inc. (Joe Mann mine).
