Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - District Copper Corp. (TSXV: DCOP) ("District Copper", "District", or the "Company") is pleased to congratulate Copper Fox (TSXV: CUU) on the results of an updated mineral resource estimate ("MRE") on Eaglehead copper-gold-molybdenum-silver porphyry copper project located in northwestern British Columbia (see Copper Fox news release August 30, 2023). District Copper holds a 0.5% net smelter returns royalty ("NSR") on the property. Copper Fox has the right to purchase 50% of the NSR for $1,000,000.
Jevin Werbes, President and CEO of District Copper commented, "We are extremely pleased to see that Copper Fox is moving the Eaglehead Project forward. The application of all the old and new data on the project has allowed the operator to gain new insights into the geological setting of the mineralization, a necessary step for further exploration and development of the project."
Chris M. Healey, P.Geo., Chief Geologist, and a Director of District Copper Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release, and consents to its release.
About District Copper
District Copper is a Canadian company engaged in the exploration for porphyry copper deposits in south-central British Columbia.
For further information, please visit www.districtcoppercorp.com to view the Company's profile or contact Jevin Werbes at 604-363-2506.
Jevin Werbes, 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 news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution in the United States or over United States newswires.
Cautionary Statement on Forward-Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
In connection with the forward-looking information contained in this news release, District Copper has made numerous assumptions regarding, among other things: the geological advice that District Copper has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. While District Copper considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause District Copper's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the dimensions and shape of the mineralized areas may not be as estimated; the targets outlined by the MVI study may not be associated with felsic intrusives porphyry style alteration or mineralization; the proposed surface program may eliminate these areas as potential targets for future exploration; the NNW trending structures may not contain indications of magnetite destruction typical of hydrothermal alteration; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity, and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179161