VANCOUVER, British Columbia, January 16, 2024, Alpha Copper Corp. (“Alpha” or the “Company”) (CSE: ALCU) announces that is has entered into an amending agreement (the “Amending Agreement”) dated January 12, 2024 in respect of the option agreement (the “Option Agreement”) dated June 20, 2018 (as previously amended on May 7, 2019, November 16, 2020, July 6, 2022 and March 20, 2023) with Eastfield Resources Ltd. (“Eastfield”), pursuant to which the Company may acquire a 60% interest in the Indata copper-gold project located in north central British Columbia (the “Property”).
In accordance with the Amending Agreement, to earn a 60% interest in the Property, the Company must make remaining payments to Eastfield and incur remaining exploration expenditures on the Property as follows:
- Incur $350,000 in exploration expenditures and pay $35,000 (up to $20,000 of which may be paid in common shares of the Company (“Shares”)) by January 23, 2024;
- Pay $25,000 by June 20, 2024; and
- Incur $966,186 in exploration expenditures and pay $105,000 (up to $20,000 of which be paid in Shares) by December 31, 2024.
If the forgoing payments are made and exploration expenditures are incurred, the Company will have paid an aggregate of $400,000 (up to $150,000 of which was paid Shares) and incurred $2,500,000 in exploration expenditures under the Option Agreement to earn a 60% interest in the Property.
About Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FWB: PP0)
Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The Company is positioned to earn a 60-per-cent interest in the Indata copper-gold project located in north-central British Columbia. After the acquisition of Cavu Energy Metals, the Company holds an option to acquire 100% of the Star copper-gold porphyry project in the Golden Triangle of British Columbia, as well as an option to acquire up to 70% of the Hopper copper-gold porphyry project in the southern Dawson Range copper-gold belt of the southwestern Yukon, and further including the 100% owned Quesnel project in the middle of the Quesnel Trough, host to a number of alkalic copper-gold porphyry deposits running northwest across western British Columbia.
For more information visit https://alphacopper.com/.
On Behalf of the Board of Directors of Alpha
~Darryl Jones~
Darryl Jones
CEO, President & Director
Alpha Copper Corp.
Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
walter@invictusir.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve 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. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.