Vancouver, BC – Coast Copper Corp. (“Coast Copper” or the “Company”; TSX-V: COCO) is pleased to announce that it has recently expanded its Knob Hill NW property on northern Vancouver Island and its Home Brew property in southcentral British Columbia (“BC”). In addition to the recent staking, the Company also provides an update on the results from its annual general meeting (“AGM”) held on Thursday, December 7, 2023.
Knob Hill NW Property Expansion
The Knob Hill NW property is located on northern Vancouver Island, approximately 60 kilometres (“km”) northwest of its optioned Empire Mine property. The property is located at the western end of a 50 km trend that originates at the past producing Island Copper Mine¹ and passes through NorthIsle Copper & Gold Inc.’s project¹ and onto the Knob Hill NW property. The new staking more than doubles the current property size and was completed due in part to the recent news results of NorthIsle (see Figure 1).
Home Brew Property Expansion
The Company significantly expanded its Home Brew property in southcentral BC, adjacent to Gold Mountain Mining Corp.’s producing Elk Gold project¹ and internal to their mineral claim holdings. The Home Brew property covers three known mineral occurrences (Brew, Annie Oakley and Toe) hosting polymetallic vein and porphyry copper gold targets with historical results up to 2.43 grams per tonne (“g/t”) gold from narrow quartz veins and broad (approximately 2 km wide) copper anomalies (greater than 189 parts per million copper) in till soils² (see Figure 2).
Adam Travis, Coast Copper CEO comments: “I’m very pleased that we were able to expand both our Knob Hill NW and Home Brew properties by claim staking. Both properties are located in active exploration and/or mining areas and cover prospective zones on trend which is highlighted by mineral occurrences, similar geology and geophysical anomalies. The area around our Scottie West property (in the Golden Triangle) has also been quite active with Teuton Resources Corp. announcing some exciting surface results. While Coast Copper remains focused on the optioned Empire Mine property, we continue to advance our other strategically located projects in a cost-effective manner.”
A total of 29,673,435 common shares, representing 45.79% of the issued and outstanding common shares of the Company, were represented at the Meeting. The following resolutions were approved by the Company’s shareholders:
1. The number of Directors of the Company was set at four (4);
2. Fletcher Morgan, Adam Travis, Dale Wallster and Dan Berkshire were elected Directors of the Company to hold office until the Company’s next AGM;
3. Davidson & Company LLP, Chartered Professional Accountants were re-appointed as the auditors of the Company for the ensuing year and the Directors were authorized to fix their remuneration;
4. Re-approval of the Company’s existing fixed 20% Long-Term Incentive Plan which was originally approved by the Board of Directors on December 18, 2022.
The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper’s geological consultant and a Qualified Person (“QP”) within the context of the Canadian Securities Administrators’ National Instrument (“NI”) 43-101; Standards of Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper’s exploration focus is the optioned Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper’s other properties include its 100% owned Knob Hill NW property located on northern Vancouver Island, its Home Brew property in central BC, and its Scottie West property located in the “Golden Triangle” of northern BC. Coast Copper’s management team continues to review precious and base metals opportunities in western North America.
On Behalf of the Board of Directors:
Adam Travis, Chief Executive Officer and Director
For further information, please contact:
Adam Travis, CEO
Coast Copper Corp
409 Granville Street, Suite 904
Vancouver, B.C. V6C 1T2, Canada
Cautionary Notes related to this news release and/or maps
1. This news release may contain information about adjacent properties on which Coast Copper Corp has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are no indicative of mineral deposits on the Company’s properties.
2. BC Minfile: Annie Oakley Minfile NO 092HNE029. https://minfile.gov.bc.ca/Summary.aspx?minfilno=092HNE029
3. NorthIsle Copper and Gold Inc website. https://www.northisle.ca/
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board, and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological, and competitive uncertainties, and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation, or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.