Toronto, Ontario--(Newsfile Corp. - March 16, 2017) - Crown Mining Corp. (TSXV: CWM) ("Crown" or the "Company"), is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with Allyson Taylor Partners Inc.("Allyson"), an investor relations and capital markets consulting firm based in Montreal, Quebec. Allyson will be providing a number of services to Crown pursuant to the Agreement, including evaluating advantages and disadvantages of several transactions in light of the Company's objectives; assisting Crown in geographically diversifying its presence within the Canadian and European investment communities; and introducing Crown to institutional investors, retail brokers, high net-worth individuals and European investors.
The definitive terms of the Agreement include paying Allyson a monthly work fee of $10,000 (plus all applicable taxes and expenses) for a period of six (6) months, and granting to Allyson 300,000 options (the Options") to purchase common shares in the capital of the Company at $0.105 per common share for a period of thirty-six (36) months from the date of issuance (the "Expiry Date"). The Options vest equally every quarter over a twelve (12) month period and shall expire upon the earlier of the Expiry Date, or thirty (30) days following the date of termination of the Agreement. The Agreement is subject to approval of the Tsx Venture Exchange.
Crown is focused on advancing its 100% controlled Moonlight-Superior Copper Project in Northeast California which includes 4 known copper deposits. The Moonlight deposit hosts a current National Instrument 43-101 ("NI 43-101") indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112 ounces of silver per ton for 1.044 billion pounds of copper, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton for 496 million pounds of copper. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43% for 547 million pounds of copper. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar which also discloses a historical resource estimate for the fourth deposit.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corporation (416) 361-2827 or email [email protected]
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", "anticipates", "expected to", "plans", "planned" 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.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The flow-through common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.