(TSX-V:CRD),
TORONTO, Dec. 08, 2025 (GLOBE NEWSWIRE) — Copper Road Resources Inc. (TSX-V: CRD) (“Copper Road” or the “Company”) is pleased to announce that it has signed a non-binding Letter of Intent (“LOI”) to option 174 cell claims (within 495 provincial grid cells) with a spatial exploration extent of approximately 10,232 hectares (“ha”), including 13 contiguous mining rights only patents for an additional 210 ha to the operational project area. The property includes parts of Ben Nevis, Clifford, Elliott, Arnold and Katrine townships, located in northeastern Ontario (Figure 1). This transaction consists of four (4) separate option agreements representing the first ever consolidation of the entire Ben Nevis Volcanic Complex into a single claim group holding. The transaction is expected to close within 30 days.
Brian Howlett, CEO of Copper Road Resources commented, “This is an unparalleled opportunity for Copper Road. The Ben Nevis Volcanic Complex has long been recognized for its potential for VMS deposits but has seen limited modern-day exploration. The Clifford Stock provides additional exploration potential for intrusive related Cu-Au-Mo deposit models. We look forward to completing this transaction and begin systematic exploration of an overlooked region of the Blake River Group.”
Figure 1. Regional location of the Copper Road Ben Nevis Claim Group.
Regional Geological Overview:
The Ben Nevis Volcanic Complex is located within the upper Blake River Group (BRG). It is the youngest volcanic sequence within the metal endowed Abitibi greenstone belt. Of all the Archean sequences in the Abitibi greenstone belt, the BRG contains the most abundant concentration of volcanogenic massive sulphide (VMS) deposits. Approximately half of the total VMS tonnage of the Abitibi greenstone belt is located in the BRA, and about 90% of the total “VMS gold” in the belt is found in the BRA. The Noranda Cu-Zn-Ag-Au VMS mining district is approximately 40 kilometres in Quebec is host to 23 VMS deposits and the Doyon-Bousquet-LaRonde camp hosts 11 VMS deposits1.
The presence of VMS-style alteration and mineralization in the area indicates that a synvolcanic hydrothermal system existed and the now consolidated Ben Nevis Volcanic Complex has the potential to host gold-rich VMS deposits comparable to those in the Noranda and Doyon-Bousquet-LaRonde mining camps3,4. In addition, the recognition of a porphyry Cu-Au-Mo system related to the Clifford stock in Clifford Township5 opens up a new exploration discovery potential, over the consolidated land holdings.
Figure 2. Schematic of the Ben Nevis Volcanic Complex in analogy to the Noranda VMS camp and LaRonde-Bousquet-Doyon VMS camp.
Property Geological Overview:
Underpinning the geology of the property is a domal anticlinal package of mafic and felsic volcanic rocks wrapped around the Clifford Stock. Northeast and northwest synvolcanic structures are excellent targets for Noranda-type VMS deposits2. The layered mafic-rhyolitic volcanic package reflects a flow dome complex that hosts the Doyon-Bousquet LaRonde gold-rich VMS deposits.
Highlights of previous exploration efforts include Figure 3:
- Patents include the “Canagau Mines” shaft sunk to -100m with 3 levels aggregating 284m of crosscuts. Sampling from the 68m level in 1927 returned 0.52% Cu, 11.48% Zn, 7.84% Pb, 112 g/t Au and 151 g/t Ag.
- At the Croxall Breccia, Hollinger Mines (1964) drilling returned 85.8 g/t Au over 1.52m.
- Mineta Resources (1988) returned values of 114 g/t Au over 1.22m and 0.373 g/t Au over 41.6m at Croxall.
- Wallbridge Mining 2003 drilling at Canagau intersected 2.07 g/t Au and 2.19% Zn over 10.3m.
- Wallbridge Mining 2004 drilling at the Clifford Cu-Mo-Au surface anomaly intersected 55.3m averaging 0.12% Cu, 0.05 g/t Au and 0.26g/t Ag. For some reason Mo wasn't assayed for.
Figure 3. Mineralization highlights of the Copper Road Ben Nevis land package.
Recent Activities
The Company has recently flown a 1,164 line-kilometre “state of the art” Mobile MT (Mobile Magnetotellurics) over the entire consolidated property holdings. This survey represents the first, all encompassing, electromagnetic and magnetic data airborne data collection mandate over consolidated Ben Nevis Volcanic Complex since 1990.
Through the audio-magnetotelluric principles, advanced engineering design and sophisticated mathematical solutions, MobileMT is the only system proven to deliver geoelectrical information from shallow to > 1 km depth range with high spatial (lateral and in-depth) and resistivity resolution. MobileMT system detects resistivity contrasts of geology structures and boundaries of any shape and in any direction due to total field (three components) measurements. Detectible resistivity range is not limited by the range of time-domain principle.
The application of the survey is to identify possible fault contacts and fault associated conductive zones and/or fluid flow conduits indicated by low resistivity zones as; alteration (resistive zones hosted by intrusive units representing potassic alteration zones) and dissemination halos associated with Volcanogenic Massive Sulfide (VMS) and Porphyry-hosted Cu-Au-Ag-Mo mineralization; detection of highly and super conductive deposits as the MobileMT does not have those limitations in very conductive ranges.
A 3D inversion of the Mobile MT will be completed, followed by a data interpretation with the objective of identifying targets for ground follow-up, including diamond drilling.
Transaction Terms:
Under the terms of the four Option Agreements (the “Options”), the Company shall have the right to earn a one hundred percent (100%) interest in and to the Projects, in consideration for the cash payments and the issuance of common shares of Copper Road set forth below. Upon the exercise of the Option, the vendors would retain a 2% net smelter return (“NSR”) royalty on the property. Copper Road may repurchase, at any time, 50% of the NSRs for $2,000,000 cash, a further 25% of the NSRs for $4,000,000 and a Right of First Refusal on the remaining 25% of the NSR.
| Cash | Shares | |
| On Signing | 37,500 | 2,250,000 |
| Year 1 | 65,000 | 500,000 |
| Year 2 | 120,000 | 950,000 |
| Year 3 | 200,000 | 1,750,000 |
| Certain other events | 2,000,000 | |
| Total | 422,500 | 7,500,000 |
The completion of the Option is subject to customary closing conditions for a transaction of this nature. The transaction is subject to compliance with applicable securities laws and receipt of TSXV regulatory approval.
Any shares issued by the Company pursuant to the Option agreement, will be subject to appropriate exemptions, including, but not limited to, the prospectus exemption set forth in Section 2.13 of National Instrument 45-106 – Prospectus and Registration Exemptions, and any other requirements under applicable securities laws and regulations.
The Company also announced that it has granted 1,000,000 incentive stock options (“Options”) pursuant to the Plan to consultants of the Company. Each Option is exercisable into one common share of the Company at an exercise price of $0.05 for a five-year term expiring on December 8, 2030.
Qualified Person
Michael P. Rosatelli, M.Sc., P.Geo. the senior geological consultant for the Company, is a Qualified Person, in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101, has reviewed and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
References
- P. Mercier-Langevin, J. Goutier, P.-S. Ross, V. McNicoll, T. Monecke, C. Dion, B. Dube, P. Thurston, V. Becu, H. Gibson, M. Hannington, and A. Galley. 2011. The Blake River Group of the Abitibi Greenstone Belt and Its Unique VMS and Gold-Rich VMS Endowment, Geological Survey of Canada, Open File 6869, 72 p.
- Jensen, L.S., 1975. Geology of the Clifford and Ben Nevis Townships, District of Cochrane, Geoscience Report 132.
- Moore, L.N., Daigneault, R., Aird, H.M., Banerjee, N.R. and Mueller, W.U., 2015. Reconstruction and evolution of Archean intracaldera facies: the Rouyn-Pelletier Caldera Complex of the Blake River Group, Abitibi greenstone belt, Canada. Canadian Journal of Earth Sciences.
- Peloquin, A.S., Piercey, J. and Hamilton M.A., 2008. The Ben Nevis Volcanic Complex, Ontario, Canada: Part of the Late Volcanic Phase of the Blake River Group, Abitibi Subprovince. Economic Geology, v. 103 pp 1219-124.
- Chaloux, E.C., 2005. The Croxall Breccia Pipe: Geological and Geochemical Study of an Archean Porphyry Cu-Mo-Au System, A project report submitted in partial fulfilment of the requirements for the degree of Applied MSc in Geology, Laurentian University, Department of Earth Sciences, Laurentian University December 2005
For more information, please contact:
Brian Howlett, CPA
President and CEO
Copper Road Resources Inc.
www.copperroadresources.ca
1-647-227-3035
Caution Regarding Forward-Looking Information
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Copper Road. Forward-looking statements include estimates and statements that describe Copper Road Resource's future plans, objectives or goals, including words to the effect that Copper Road Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Copper Road Resources, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Copper Road Resource's treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Offering on disclosed terms or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Copper Road Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the 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.
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Figure 1
Regional location of the Copper Road Ben Nevis Claim Group.
Figure 2
Schematic of the Ben Nevis Volcanic Complex in analogy to the Noranda VMS camp and Laronde-Bousquet-Doyon VMS camp.
Figure 3
