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Silver Spruce Completes ASTER and LANDSAT 8 Hyperspectral and Image Analysis on El Mezquite, Jackie and Diamante Au-Ag Concessions, Sonora, Mexico

BEDFORD, NS / ACCESSWIRE / September 9, 2021 / (TSXV:SSE) – Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") is pleased to announce the…

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BEDFORD, NS / ACCESSWIRE / September 9, 2021 / (TSXV:SSE) - Silver Spruce Resources, Inc. ("Silver Spruce" or the "Company") is pleased to announce the receipt of its report from Strategic Consultants IGIS, ("SCIGIS") based in Chihuahua, Mexico, providing a comprehensive interpretation of regional ASTER (Advanced Spaceborne Thermal Emission and Reflectance Radiometer) and LANDSAT 8 OLI (Operational Land Imager) data over three exploration properties comprising El Mezquite, Jackie and Diamante (see Figure 1).

Figure 1. El Mezquite, Diamante 1 and 2, and Jackie Concession Location Map. Nicho mine development by Minera Alamos located 6 km SE of Jackie (Image taken from Google Earth).

"We continue to build on the Sonoran project geotechnical database using advanced processing techniques for re-interpretation of available ASTER and LANDSAT 8 OLI imagery. The TLALI algorithm processing clearly illustrated its capabilities in mineral and anomaly identification with clarity of spatial response," said Greg Davison, Silver Spruce VP Exploration and Director. "We are compiling and interpreting the Shortwave Infrared ("SWIR") and Visible to Near-Infrared ("VNIR") hyperspectral data from El Mezquite and Jackie rock samples in concert with the ASTER/LANDSAT alteration fields for the next phase of drill target definition after recently completing our maiden drill program on EL Mezquite and Phase 2 geological and alteration mapping on Jackie. The SCIGIS maps also will be used for focusing and planning of the targeted geological mapping program at Diamante 1 and 2 in Q4 2021."

The SCIGIS study comprised a spectral reconnaissance of the Properties (Diamante 1, Diamante 2, El Mezquite, and Jackie) to understand the structural and lithological controls in a regional context and provide additional detail on the mineral-by-mineral distribution over each of the Properties. SCIGIS research covered an area of 6,500 hectares - the map area shown in Figure 2. The ASTER imagery was processed using the proprietary TLALI algorithm, which has shown significant success in optimizing and recognizing anomalies in a wide range of geological environments from several international projects.

A second run was carried out using LANDSAT 8 OLI imagery and focus on clay minerals, ferrous iron, and iron oxide species. The reporting included a complete set of shapefiles, index raster and RGB images, index reclassifications, and various digital elevation rasters with shading and lineament extraction in ArcGIS format.

Project Geology - Spectral Response

The El Mezquite and Diamante properties each exhibit features that manifest with excellent hyperspectral signatures and responses for a broad suite of oxide and silicate minerals. The remote spectral response distribution, particularly for Jackie, is limited by extensive vegetation. A historical study of ASTER imagery was performed in 2017 principally on the Diamante and El Mezquite properties and identified hyperspectral responses interpreted as supergene oxidation and argillization with propylitic areas, the latter mainly in less altered andesites.

Figures 2 and 3 illustrate examples of the Servicio Geológico Mexicano ("SGM") alteration and the recent LANDSAT 8 OLI interpretation for the three properties mainly for the Diamante and El Mezquite projects. Data available from the GEOINFOMEX SGM web portal displayed alteration with broadly circled areas of grouped minerals or styles. It is noteworthy that the Jackie property showed only minimal LANDSAT 8 OLI responses though the evidence from the current ground exploration successfully identified significant clay and oxide minerals proximal to the Au-Ag anomaly (see Press Releases - June 10th and June 26th, 2021).

El Mezquite - A white mica-dominant assemblage with lesser jarosite, kaolinite and iron oxides, distal zones containing chlorite, and intermittent areas of aluminous minerals locally linked to potential structural lineaments, were identified by the rock hyperspectral response. The LANDSAT 8 OLI TLALI maps illustrate northeast and northwest-trending clusters tied to surfaces exposure and topographic features including faults interpreted from the magnetic and 3D IP surveys. ASTER data documented, in Figures 3 and 4, the kaolinite, alunite and pyrophyllite group, with silica spatially associated with NW-trending lineaments and, in part, were targeted by the Phase 1 drilling. Additional targets to the south of the current drilling are interpreted from the TLALI alteration maps and the initial lineament analysis.

Jackie - The Phase 1 prospecting and Phase 2 mapping programs (see Press Releases - June 10th and June 26th 2021) identified a distinctive andesite ridge with intense oxidation, silicification, argillic alteration, and a notable vegetation-free zone. This location was confirmed by the ASTER and LANDSAT 8 interpretation though was limited to a focused area with ferric oxides, kaolinite, silica and chlorite-epidote-carbonate. The oxide and silicate alteration, was verified by aiSIRIS results of rock hyperspectral analysis, represented oxidized argillic zones with low grade or bleached metal values. Rock samples collected from the northern area of the ridge also displayed intense replacement by zeolite, kaolinite, alunite, montmorillonite, opaline silica, and muscovite and contained the bulk of the anomalous gold and silver values. None of this neighboring and significant alteration was recognized by ASTER and LANDSAT 8 OLI given the coverage by vegetation during the period of image collection. Compilation of the rock sample hyperspectral data is pending and requisite for advancing the alteration mapping of the Jackie property.

Figure 2. Distribution of clay and ferric oxide alteration from LANDSAT 8 OLI data focused around vein and disseminated mineralization targets, with outlined areas sourced from historical SGM database, on the Diamante and El Mezquite properties. Limited response on the Jackie property.

Diamante - Historical ground exploration on the Diamante 1 and 2 concessions identified mineralization accompanied by silicification, and phyllic, argillic, advanced argillic (quartz-alunite-pyrite) and propylitic (chlorite) zones, with overprinting by iron oxide and oxyhydroxide (hematite, goethite, and limonite) staining, jarosite and vuggy silica. The TLALI maps, shown in Figures 2 and 3 for the LANDSAT 8 OLI and combined LANDSAT/ASTER data, respectively, illustrate the spectral response for silicification and argillic alteration, including generic clay, alunite, pyrophyllite, kaolinite and silica, which are in part coincident with known artisanal vein workings and disseminated gold targets, such as the Southern Anomaly in Diamante 2. The areas of alteration require verification by surface exploration as part of the Phase 1 drill target definition program planned for Q4 2021.

Figure 3. Distribution of alunite, pyrophyllite, kaolinite and silica from ASTER and overprinting ferric oxide alteration from LANDSAT 8 OLI data focused on Diamante 2 and El Mezquite identifying potential targets of advanced argillization and silicification, with outlined areas sourced from historical SGM database, on shaded topography.

Figure 4. Distribution of alunite, pyrophyllite, kaolinite and silica from ASTER focused on Diamante 1 and El Mezquite identifying potential targets of advanced argillization and silicification, on shaded topography and regional geology, primarily the Tarahumara Formation (teal color), principal host to known mineralization.

Project Background

The 180-hectare ("ha") El Mezquite and 1,057-ha Diamante Concessions are drill-ready precious metal (Au-Ag) projects, located 10 and 5 kilometres respectively, from Tepoca and 165 km southeast of Hermosillo, Mexico. Diamante 1 is situated adjacent to the west of the El Mezquite project. Diamante 2 is located 700 metres south of Diamante 1. The grassroots 1,130-ha Jackie property is located less than two kilometres south of our El Mezquite and Diamante properties and directly adjacent to the west boundary of Minera Alamos' Santana project.

The Properties are well situated in logistics for exploration, adjacent to each other, and six to fifteen kilometres west and northwest of the Minera Alamos' Nicho deposit in mine development.

The Properties are easily accessible from Mexican Highway #16, which transects Diamante 1 and El Mezquite, ranch trails and dry riverbeds to Diamante 2, and dry riverbed access from the pueblo of La Quema, west of Highway #117 to Jackie. High voltage power lines positioned along with Highway #16.

The El Mezquite, Jackie, and Diamante projects are currently subject to option agreements with Colibri, wherein SSE can earn 50% of the gold and silver projects by meeting specific criteria over periods of two to four years. El Mezquite and Jackie concessions currently have hyperspectral assays pending detailed interpretation from 2021 mapping and prospecting programs, and the Company recently completed Phase 1 drilling at El Mezquite.

The Properties are located within the west-central portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the well-known, precious metals-rich Mojave-Sonora Megashear.

Several nearby large operating mines include Alamos Gold's Los Mulatos gold mine and Agnico Eagle's La India gold mine located 50 and 58 kilometres to the northeast, respectively, Agnico's Pinos Altos Mine, 100 kilometres southeast and Argonaut's La Colorada Mine, 100 kilometres west. Exploration in the surrounding area is very active, with adjacent and nearby properties held by Evrim, Newmont, Garibaldi, Kootenay Silver, and Penoles.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the El Mezquite, Jackie and Diamante Projects and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("N.I. 43-101"), under TSX guidelines.

About Strategic Consultants IGIS

Based in Chihuahua, Mexico, Strategic Consultants have been in mineral exploration for over 30 years, having GIS and Remote Sensing as powerful tools to search for mineral deposits. Strategic Consultants developed an innovative cloud-based algorithm capable of processing an ASTER image anywhere in the world, in a matter of minutes, yielding up to twenty-five spectral signatures representing the same amount of minerals, each in a separate ArcGIS shapefile. This procedure allows to establish types of alteration, a rock-mineral relationship or geological-mineral characteristic, and helps to select specific areas of interest and objectives. Major mining companies, such as Agnico-Eagle México and Redline Minerals Inc., have used the algorithm for exploration in brownfields and greenfields properties in México and the United States.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos's Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed an LOI to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO
(902) 826-1579
mkinley@silverspruceresources.com

info@silverspruceresources.com
ww.silverspruceresources.com

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 release.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.



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Energy & Critical Metals

Benton and Sokoman Shares Rise After Confirming 1st High-Grade Lithium Discovery

Composite grab sampling returns 2.37% Li2OThunder Bay, Ontario–(Newsfile Corp. – September 16, 2021) – Benton Resources Inc. (TSXV: BEX) ("Benton") and…

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Composite grab sampling returns 2.37% Li2O

Thunder Bay, Ontario--(Newsfile Corp. - September 16, 2021) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") (together, "the Alliance") are pleased to announce analyses for 35 of 58 follow-up samples from the recently discovered swarm of Lithium-bearing pegmatite dikes on the Golden Hope Joint Venture Project in southwestern Newfoundland. The 35 grab and chip samples were collected over a 1 km2 area over the swarm of poorly-exposed pegmatite and aplite dykes. The follow-up sampling has confirmed that the pegmatites carry significant Lithium values, the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.

  • 31.4% of the samples gave values >1% Li2O
  • The Lithium-bearing samples were taken over a poorly-exposed pegmatite swarm covering 1 km2
  • Additional results are pending (23 samples) along a 1 km strike of pegmatites
  • Lithium, Beryllium, Cesium, Rubidium and Tantalum values were located 2 km to the west of the initial discovery

Of the 35 samples, 11 gave values greater than 1% Li2O with three greater than 2% Li2O, and a high of 2.37% Li2O. The dominant Lithium-bearing mineral appears to be spodumene (LiAl(SiO3)2) which occurs as clusters of elongated prismatic crystals up to 5-cm-long in a grey-white matrix of glassy quartz and feldspar and a pale-green to white mica (see photo of sample 361716). Multiple samples from the aplite dikes give highly-anomalous Cesium (17 ppm to 508 ppm Cs), Rubidium (226 ppm to 1310 ppm Rb) and Tantalum (5 ppm to 179 ppm Ta), typical of evolved pegmatite swarms. Samples 361715-718 were a series of 0.5 m2 composite samples from the discovery outcrop that measures 10m x 3m and is 100% pegmatite. The dike margins are overburden covered and actual width of the dike is not known. All other samples were taken over the broader mineralized area. The following table gives the results for the composite samples and other higher-grade Li values from the area.

Summary of Significant Results (>500 ppm Li)
Sample Li ppm* Conversion % Li2O
361715 1.10% 2.153 2.37
361716 8450 2.153 1.82
361717 7030 2.153 1.51
361718 5550 2.153 1.19
361725 9950 2.153 2.14
361726 4080 2.153 0.88
717102 3240 2.153 0.70
717103 1.01% 2.153 2.17
717104 5290 2.153 1.14
717105 7190 2.153 1.55
717106 6450 2.153 1.39
717107 3390 2.153 0.73
717110 734 2.153 0.16
717111 1080 2.153 0.23
717112 7240 2.153 1.56
717113 8410 2.153 1.81

 
* Li shown as ppm except where noted as %



Spodumene crystals in Sample 361716 (1.82% Li2O)

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3657/96784_a898e1efb4b52bc8_003full.jpg

The Alliance also discovered high-grade Beryllium values with 2 grab samples grading >5000 ppm Be, with others ranging from 6 ppm to >5000 ppm Be, with associated anomalous Lithium, Cesium, Rubidium and Tantalum values. These samples, mineralogy unknown, are located approximately 2 km to the west of the Li discovery, providing further evidence that it is an evolved pegmatite system. Additional samples, taken up to 1,000 m along strike, have been submitted for analysis and are pending.

  Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2021/09/4a172a527b7e9753f86ca47622bf0bec.jpg

Map outlining Golden Hope Project Pegmatite Sampling

To view an enhanced version of this graphic, please visit:
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Samples were submitted to Actlabs in Ancaster, Ontario for analysis by Sodium Peroxide Fusion ICPOES + ICPMS.

Benton's President and CEO Stephen Stares states: "The discovery of this new Lithium, Beryllium, Cesium, Tantalum and Rubidium mineralization in Newfoundland continues to show the Island's vast potential. Although this is the first discovery of Lithium in Newfoundland, the geological environment and setting to discover these types of large systems have already been proven and discovered in the Appalachian belt. This includes the important deposits held by Piedmont Lithium Inc in the Carolinas, eastern US, as well as the geologically equivalent Avalonia Project being advanced by Ganfeng Lithium in the Caledonides of Ireland. Benton and Sokoman will use these deposits for synergies and modeling as we advance this new discovery towards drilling."

Sokoman's President and CEO Tim Froude adds: "We are very pleased to have unequivocally verified high-grade Lithium mineralization at Golden Hope, the first such significant occurrence in Newfoundland. While still early days, significant Lithium mineralization in similar geological settings, elsewhere in the greater Appalachian belt, bodes well for the potential of this discovery to be of significance to our shareholders. While continuing to explore the pegmatites for Li and associated elements, the claims were originally staked for gold and we are presently processing and merging our recently-flown airborne data with pre-existing data to highlight gold targets on the 750 sq km property."

The Alliance has completed a 5,709 line-km Heliborne, High-Resolution, Aeromagnetic & Matrix Digital VLF-EM Survey, flown by Terraquest Ltd. The survey will provide the structural/ lithological setting to help identify gold-bearing structure extensions, as well as any unrecognized structures including those potentially related to the Lithium-bearing pegmatites.

QP

This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., and Nathan Sims, P.Geo., Senior Exploration Manager for Benton Resources Inc., both the 'Qualified Person' under National Instrument 43-101.

COVID-19 Protocols

To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman and Benton are operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects: flagship, 100%-owned Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint-venture properties including Grey River Gold, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims - 1,500 sq. km), making it one of the largest landholders in Newfoundland, Canada's newest and rapidly-emerging gold districts. The company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100%-interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

About Benton Resources Inc.

Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-prospective property portfolio in Gold, Silver, Nickel, Copper, and Platinum Group Elements and currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties for potential long-term cash flow. Benton has also recently entered into a 50/50 strategic alliance with Sokoman Minerals Corp. (TSXV: SIC) through three large-scale joint venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland that are now being explored.

For further information, please contact:

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com

Sokoman Minerals Corp.
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com

Benton Resources Inc.
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca

Website: www.bentonresources.ca, www.sokomanmineralscorp.com
Twitter: @BentonResources, @SokomanMinerals
Facebook: @BentonResourcesBEX, @SokomanMinerals
LinkedIn: @BentonResources, @SokomanMinerals

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Companies' expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Companies prospects, properties and business detailed elsewhere in the Companies' disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Companies do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Companies' expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96784

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CopperBank Closes $5 Million Private Placement Financing

VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) announces that it has closed the…

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VANCOUVER, BC / ACCESSWIRE / September 16, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK) announces that it has closed the previously announced non-brokered private placement offering (the "Offering") of units of the Company (the "Units") at a price of $0.40 per Unit, for aggregate gross proceeds to the Company of $5,000,000.

"It is great to close this financing so soon after taking over as CEO and seeing such strong demand from seasoned, long-term resource investors," said Paul Harbidge, President and Chief Executive Officer. "This financing bolsters the balance sheet as the Company progresses the advanced Copper Creek project in Arizona, as well as the Contact Copper project in Nevada. We look forward to demonstrating the value of these projects by developing geological models, updating the resource estimates and technical studies, as well as commencing exploration drilling on both properties."

Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.60 at any time up to five years following the closing of the Offering. No finder's fees were paid as part of this private placement.

The net proceeds received by the Company from the Offering will be used to advance the Company's Copper Creek and Contact Copper exploration projects, as well as for general working capital purposes.

The Common Shares and Warrants to be issued under the Offering will have a hold period of four months and one day from the closing of the Offering.

Paul Harbidge and Russell Ball, both insiders of the Company, subscribed for a total of 3,000,000 Units under the Offering, both of which subscriptions constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to the insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares issued to the related parties did not exceed 25% of the Company's market capitalization.

About CopperBank

CopperBank is a Canadian exploration mining company focused on energy related metal exploration in The United States of America. The Company trades on the Canadian Securities Exchange under the symbol "CBK".

For additional information please contact:

Paul Harbidge, President and Chief Executive Officer

CopperBank Resources Corp.
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Phone: 778-987-2761
E-mail: pharbidge@copperbankcorp.com
Website: www.copperbankcorp.com

Forward-Looking and Cautionary Statements

Certain information in this release constitutes forward looking statements or information ("forward-looking statements") under applicable securities laws and necessarily involves risks and uncertainties. Forward-looking statements included herein are made as of the date of this news release and, except as required by applicable law, CopperBank does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Forward-looking statements relate to future events or future performance and reflect management of CopperBank's expectations or beliefs regarding future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.

Examples of forward-looking statements in this news release include, but are not limited to, statements with respect the use of the net proceeds of the Offering by the Company. Although CopperBank believes that the expectations reflected in the forward-looking statements are reasonable, forward looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to CopperBank. Forward-looking statements are based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward looking information.

Such factors and assumptions include, but are not limited to, the Company's ability to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to, the risk that the Company will not be able to identify and complete one or more transactions involving the Company's portfolio assets that enhance shareholder value as part of management's ongoing review of strategic alternatives in the current market conditions. Although CopperBank has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. For more information on CopperBank and the risks and challenges of its businesses, investors should review the continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE: CopperBank Resources Corp.



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Uranium and Lithium Explorer, Azincourt Energy, Timely Upgrade to OTCQB

VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF,…

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VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2), is pleased to announce that its common shares have commenced trading on the OTCQB marketplace under the symbol “AZURF”. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “AAZ”.

The Company expects that the listing on the OTCQB will provide greater visibility and convenience of trading for US investors, resulting in enhanced liquidity and greater reach.

“Trading on the OTCQB gives us the ability to access a larger audience which is an important factor in the Company’s development,” said Alex Klenman, President and CEO. “The US market is obviously extremely significant, and the listing upgrade gives millions of US investors easier access to buy and trade our shares. As the uranium space picks up greater visibility and interest, our ability to introduce the Company to more people during this time of heightened investor awareness is a critical part of our growth strategy,” continued Mr. Klenman.

The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

In addition to the TSX Venture and OTCQB listings, the Company continues to trade on the Frankfurt Stock Exchange under the symbol “A0U2”.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

Neither the 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 release.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

 


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