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Alpha Copper Corp (3)
Symbol ALCU
Shares Issued 9,491,034
Close 2024-07-24 C$ 0.20
Market Cap C$ 1,898,207
Recent Sedar Documents

Alpha Copper amends Indata option with Eastfield

2024-07-24 17:12 ET - News Release

Also News Release (C-ETF) Eastfield Resources Ltd

Mr. Darryl Jones of Alpha Copper reports

ALPHA COPPER ANNOUNCES AMENDMENT TO INDATA PROJECT OPTION AGREEMENT

Alpha Copper Corp. has entered into an amending agreement dated July 24, 2024, in respect of the option agreement dated June 20, 2018 (as previously amended on May 7, 2019, Nov. 16, 2020, July 6, 2022, March 20, 2023, and Jan. 15, 2024) with Eastfield Resources Ltd., pursuant to which the company may acquire a 60-per-cent interest in the Indata copper-gold project located in north-central British Columbia.

In accordance with the amending agreement, to earn a 60-per-cent interest in the property, the company must make remaining payments to Eastfield and incur remaining exploration expenditures on the property as follows:

  • Pay $60,000 (which may be paid in cash or common shares of the company) by July 31, 2024;
  • Incur $300,000 in exploration expenditures and pay $45,000 (up to $20,000 of which may be paid in shares) by Dec. 31, 2024;
  • Pay $50,000 by June 20, 2025 (up to $20,000 of which may be paid in shares);
  • Incur $766,186 in exploration expenditures and pay $30,000 by Dec. 31, 2025.

If the foregoing payments are made and exploration expenditures are incurred, the company will have paid an aggregate of $420,000 (up to $210,000 of which was paid shares) and incurred $2.6-million in exploration expenditures under the option agreement to earn a 60-per-cent interest in the property.

About Alpha Copper Corp.

Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60-per-cent interest in the Indata copper-gold project, located in north-central British Columbia. After the acquisition of Cavu Energy Metals, the company has acquired 100 per cent of the Star copper-gold porphyry project in the Golden Triangle of British Columbia as well as the 100-per-cent-owned Quesnel project in the middle of the Quesnel trough, host to a number of alkalic copper-gold porphyry deposits running northwest across western British Columbia. The company also holds a 100-per-cent interest in the Okeover copper-molybdenum project north of Powell River.

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