Vancouver, British Columbia--(Newsfile Corp. - February 3, 2026) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") announces that the Company has entered into a non-binding letter of intent (the "LOI") to enter into a property option agreement whereby the Company would be granted the option to acquire (the "Option") a 100% interest in the mineral claims comprising the Brassie Creek Project located in the Kamloops mining division in the Province of British Columbia, Canada (the "Brassie Creek Project" or the "Project").
Brassie Creek Project
The Brassie Creek Project is a porphyry-skarn copper and gold property located in Southern British Columbia (Figure 1), covering an area of approximately 1,861 hectares and located approximately 50 km west of Kamloops.
Figure 1. Location of Brassie Creek Project.
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The Brassie Creek Project is also in close proximity to other active mines, being 20 km north of Teck Resources Limited's Highland Valley Mine (Canada's largest copper mine and a calc-alkalic copper-molybdenum porphyry deposit) and 30 km west of New Gold Inc.'s New Afton Mine (an alkalic copper-gold porphyry deposit). Readers are cautioned that the Company has no interest in or right to acquire any of the neighbouring mines and deposits. Mineral deposits on nearby properties and any production therefrom are not in any way indicative of mineral deposits on the Brassie Creek Project or the potential production therefrom.
The Brassie Creek Project has documented porphyry-skarn mineralization, and historical exploration of the Project includes:
| Year | Historical Exploration |
| 2025 | Structural report covering northwestern zone |
| 2020 | 47-line-km ground magnetic and VLF survey, identifying magnetic-VLF anomaly interpreted to be near surface and extending to depth |
| 2012 to 2019 | Rock and soil geochemistry and structural analysis |
| 1998 to 1999 | Drilling reportedly confirmed the presence of polymetallic skarn mineralization near surface. Total of 540 m drilled. |
| 1973 | 11km induced polarization survey with high chargeability anomaly identified over northwest portion of the property. |
The Project has year-round access and can be accessed via Highway 1 and an extensive network of forest service roads. The test data underlying the historical exploration summary has not been verified by a qualified person.
Option Terms
The terms of the LOI provide that, subject to the completion of certain conditions, including TSX Venture Exchange ("TSXV") acceptance and entry into a definitive property option agreement (the "Definitive Agreement") with the vendor of the Brassie Creek Project (the "Optionor"), a private arm's length party, World Copper would be granted the Option, which may be exercised by World Copper issuing to the Optionor an aggregate of 900,000 common shares in the capital of World Copper (the "Consideration Shares"), making cash payments to the Vendor in the aggregate amount of $440,000, and incurring an aggregate of $750,000 in exploration expenditures ("Expenditures"), as follows:
| Date | Share Payments | Cash Payments
(CAD) | Expenditures
(CAD) |
| On signing of Definitive Agreement | -- | $5,000 | -- |
| Within three (3) business days of the Effective Date | 100,000 Consideration Shares | $10,000 | -- |
| On or before June 30, 2026 | -- | -- | $25,000 |
| On or before the 12-month anniversary of the Effective Date | 200,000 Consideration Shares | $25,000 | $125,000 |
| On or before the 24-month anniversary of the Effective Date | 200,000 Consideration Shares | $100,000 | $150,000 |
| On or before the 36-month anniversary of the Effective Date | 400,000 Consideration Shares | $300,000 | $450,000 |
| TOTAL: | 900,000 | $440,000 | $750,000 |
Note:
(1) "Effective Date" means the date the Definitive Agreement is accepted for filing by the TSXV.
The terms of the LOI also provide that the issuance of the Consideration Shares, the cash payments, and the incurring of Expenditures may be completed within a shorter time frame, at the sole discretion of World Copper, and any Expenditures incurred in any period in excess of the amount required shall be credited to World Copper and applied against future Expenditure requirements in subsequent periods. During the period the Option is in effect, World Copper will also be responsible for paying such costs as are required to maintain the mineral claims comprising the Brassie Creek Project in good standing.
Qualified Person
Cathy Fitzgerald, M.Sc., P.Geo., a Qualified Person as defined by the National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Ms. Fitzgerald is a Principal Geologist and Mining Sector Lead-Americas with SLR Consulting (Canada) Ltd., and is independent of the Company.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company.
Detailed information is available at World Copper's website at https://worldcopperltd.com.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Mark Lotz"
Mark Lotz
President & Chief Executive Officer
For further information, please contact:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the entry into of the Definitive Agreement, TSXV approval, the exercise of the Option, and future results of exploration at the Brassie Creek Project, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation, market fundamentals will result in sustained mineral demand and prices, the receipt of any necessary permits, licences and regulatory approvals in connection with the Definitive Agreement and the Option in a timely manner, the availability of financing on suitable terms for the continued operation of World Copper's business and its ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Company's projects, the estimation or realization of mineral reserves and mineral resources, future mineral prices, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including TSXV acceptance for filing of the Definitive Agreement), permits or financing or in the completion of other planned activities, risks relating to epidemics or pandemics, including impacts on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
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