Vancouver, BC – Coast Copper Corp. (“Coast Copper” or the “Company”; TSX-V: COCO) announces that it has received formal notification from Goldplay Mining Inc. (“Goldplay”) that Goldplay will not be proceeding with the option agreement (see news release dated November 23, 2020) on the Company’s Scottie West property, dated November 20, 2020 (the “Option Agreement”) and consequently Coast Copper has retained a 100% interest in the Scottie West property effective today.
Adam Travis, CEO and Director of Coast Copper, comments: “We would like to thank Goldplay for funding the last two seasons of exploration programs which included over $330,000 in geological, geophysical and prospecting work at Scottie West. We look forward to following up its encouraging initial work and identification of major structures and anomalous zones, especially in light of the new discoveries being made on the adjacent Scottie Gold property owned by Scottie Resources Corp. Our technical team will be reviewing the results of the exploration programs and will make proposals for future work.”
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 and Shovelnose South Properties which are located in central BC. and its Scottie West Property located in 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
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.