Bell Copper & Cordoba Minerals enter into Earn-In and JV Agreement to Explore Kabba Project
News Release
Bell Copper Corporation - TSX.V Symbol: BCU
Bell Copper & Cordoba Minerals enter into Earn-In and JV Agreement to Explore Kabba Project
VANCOUVER, BC - Bell Copper (“Bell” or the “Company”) (TSX-V: BCU.V) is pleased to report that it has entered into an Earn-In and Joint Venture agreement with Cordoba Minerals ("Cordoba") (TSXV: CDB; OTCQX: CDBMF) under which Cordoba has the right to earn up to an 80% interest in the Company’s Kabba porphyry copper project by investing C$ 200,000 into Bell Copper through a Private Placement and the expenditure of up to C$ 17,300,000 on the project over the next 7.5 years. The transaction is subject to Regulatory and Shareholder approval.
Highlights
Bell Copper enters Earn-In/JV on the Kabba porphyry copper project with Cordoba Minerals (72% owned by High Power Exploration (“HPX”), a private company led by Co-Chairman and CEO Robert Friedland).
Company agrees to C$ 200K financing with Cordoba.
Core drilling to begin in the coming weeks.
“Over the last few months, Bell has hosted a number of majors and mid-tier mining companies who have expressed interest Kabba. Partnering with Cordoba and their related parties such as HPX provides exceptional talent, the tool chest of a major, and the mentality of a proven explorer, making this an ideal fit for Bell Copper as we move forward at Kabba.” - Dr. Tim Marsh, Bell Copper President & CEO
Joint Venture Agreement
Bell Copper has reached an agreement with Cordoba Minerals whereby Cordoba can earn up to an 80% interest in the Kabba project by completing certain phased financial commitments and project expenditures over a 7.5-year period. These commitments are outlined as follows:
Earn-In Schedule Spending Commitment
Initial Commitment - C$200,000 private placement in Bell Copper and C$300,000 to complete drill hole K-20
Phase 1 - C$1M within 18 months to earn 25% interest
Phase 2 - Additional C$3M within subsequent 2 years for 51% interest
Phase 3 - Additional C$3M within subsequent 2 years for 70% interest
Phase 4- Additional C$10M within subsequent 2 years for 80% interest
Through the initial phase of the joint venture agreement Cordoba will subscribe to 2,856,000 units through a private placement at C$ 0.07 per unit. Each unit will consist of 1 common share of Bell Copper and 1 full warrant valid until August 27, 2019 and exercisable at C$ 0.105 If Bell’s stock trades at a 100% premium to C$ $0.07 (the subscription price) for a period of 30 consecutive days prior to the warrant expiry, then Cordoba will be obligated to exercise the warrants in full.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in a region responsible for 10% of the world's copper production: Arizona.
Kabba Porphyry Copper Project
A primary focus for Bell Copper is the ongoing exploration and development at the Kabba Porphyry Copper Project near Kingman, AZ, where we are pursuing the faulted-off top of a major porphyry copper system, the bottom of which is exposed in the foothills 8+ km west of the Company's property.
Qualified Person
The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng., the Company’s CEO and President. No mineral resource has yet been identified on the Kabba Project. There is no certainty that the present exploration effort will result in the identification of a mineral resource or that any mineral resource that might be discovered will prove to be economically recoverable.
On behalf of the Board of Directors of
Bell Copper Corporation
"Timothy Marsh"
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
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.
