Toronto, Ontario--(Newsfile Corp. - January 27, 2025) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) ("US Copper" or the "Company") is pleased to announce the appointment of Mr. Jean-Pierre Colin as a corporate advisor effective today's date. Jean-Pierre Colin will assist USCU in finding a JV partner for its 100% owned Moonlight-Superior Project in Northeast California.
Jean-Pierre Colin has a distinguished career spanning more that 4 decades with demonstrated expertise as an investment banker and strategy consultant. He has had a lead role in financing hundreds of mining exploration programs and many dozens of mining companies at their Preliminary Economic Assessment ("PEA") and Feasibility stages all the way to production. Jean-Pierre Colin also initiated and led high-profile mining M&A transactions and served as a director and senior executive of numerous successful mining ventures throughout his career.
US Copper has commenced discussions with strategic partners to facilitate the Company's ongoing efforts to bring its large, advanced Moonlight-Superior Project, including the historical Engels copper property in California, into production. Jean-Pierre Colin's primary role will be to advise and assist the CEO of US Copper as the Company seeks to attract competitive international senior copper producers and complete an accretive transaction or joint venture. This initiative follows the Company's recently announced PEA, press released January 6, 2025. The PEA highlights the compelling economics of putting US Copper's mineral resource of 2.5 billion indicated pounds of copper and over 390 million inferred pounds of copper into production. The Moonlight-Superior Copper Project is one of the top ten largest copper deposits in the United States of America that is not owned nor controlled by a major public mining company.
US Copper is focused on advancing to the production stage on its Moonlight-Superior Project located approximately 125 miles from Tesla's Gigafactory outside Reno, Nevada. The project can become a significant factor in ensuring the United States has a secure supply of one of the key metals to achieve its transition to a low carbon economy. Copper is a critical material for renewable power generation and electric vehicles. As such, it is vital that the United States has a strong and viable domestic source of copper supply. The Company hopes to support the United States' shift to a green future by providing copper to the myriad of industries involved in the green energy transition.
Fittingly, Jean-Pierre Colin has been involved in the last decade in the green energy transition. He currently serves as CFO, Executive Vice President and Director of dynaCERT Inc., a TSX listed hydrogen technology company, and he is a founding Director and Corporate Secretary of Cipher Neutron Inc., a global, Canadian-based, researcher, designer and manufacturer of innovative hydrogen AEM electrolysers. He is also a member of the board of directors of Sego Resources Inc., fostering an award-winning environmental care copper-gold project in British Columbia and an advisor to Minnova Corp., owner of the past producing PL Gold Mine and the developer of a clean energy hub in Flin Flon, Manitoba, both TSXV listed companies.
Jean-Pierre Colin, advisor to US Copper stated, "Seeing all the major mining activity in California and the Nevada copper belt, the Moonlight-Superior Copper Project can be qualified as surrounded by mining-friendly areas including many counties of California. I congratulate Stephen Dunn and his entire executive team for their unwavering tenacity and bold ingenuity in bringing this huge rich deposit which began as the Engels mine back in the early 1900's to such an advanced stage of its development today."
Stephen Dunn, President, CEO and Director of US Copper stated, "The addition of Jean-Pierre Colin as a corporate advisor in our upcoming negotiations marks yet another positive development as we advance to creating shareholder value. Having known Jean-Pierre Colin for many decades, I welcome his professional dedication along with his long-standing experience in mining finance, M&A, negotiations and implementing creative solutions."
Qualified Persons
The scientific and technical content of this press release has been reviewed and approved by George Cole, M.Sc., Director of US Copper who is a "Qualified Person" as defined in NI 43-101 Standards of Disclosure for Mineral Projects. George Cole is a Registered Professional Geologist through AIPG (CPG-11687).
About US Copper Corp
US Copper controls approximately 10 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits - Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915 to 1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.
The Moonlight deposit was discovered by Placer Amex during the 1960s and a resource was calculated after the drilling of over 400 holes. A development decision was made but then put on hold in 1972 when copper prices were weak. US Copper has owned the project since 2013 and has advanced the project with three different drill programs and a number of engineering studies.
USCU recently reported an after tax NPV of US$1.075 billion in a Preliminary Economic Assessment prepared by GRE dated Dec 16, 2024 with a life of mine production of 1.8 billion pounds of copper (See news release dated Jan 6, 2025).
Further details of the Preliminary Economic Assessment NI43-101 Technical Report on the Moonlight-Superior Project, Plumas County, California, USA with an effective date of December 16, 2024 can be found on Sedar+ at sedarplus.ca or at the Company's website at www.uscoppercorp.com.
The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves under CIM Definition Standards. Readers are advised that there is no certainty that the results projected in this preliminary economic assessment will be realized.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238473
SOURCE: US Copper Corp.
