In This Article:
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") announces that it has completed the next payment to the optionors under its option agreement dated August 14, 2024 (the "Option Agreement"), pursuant to which the Company has the exclusive right to earn a 100% interest in the seven projects comprising the Western Malargüe Copper Projects, totaling over 733 km2 in southwestern Mendoza Province, Argentina (the "Western Malargüe Copper Projects").
The payment consisted of USD$187,500 in cash and the issuance of 70,000 common shares of the Company (the "Shares") and comprises the first portion of the second payment under the Option Agreement. The Shares, and all other common shares of the Company issuable under the Option Agreement, will be subject to a hold period of four months and one day following the date of issuance in accordance with applicable securities laws.
Under the terms of the Option Agreement, the Company can acquire up to a 100% interest in the Western Malargüe Copper Projects, subject to a 1.5% net smelter return royalty in favour of the optionors, by issuing to the optionors an aggregate of 3,500,000 common shares of the Company and making cash payments to the optionors in the aggregate amount of USD$6,760,000 in stages over a five-year period. For more information concerning the Option Agreement and the Western Malargüe Copper Projects, please refer to the Company's press release dated August 19, 2024.
About Kobrea
Kobrea Exploration Corp. is a mineral exploration & development company focused on the acquisition and exploration of base metal projects. Kobrea holds the right to earn a 100% interest in 7 projects totaling over 733 km2 in southwestern Mendoza Province, Argentina. The properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper targets have been outlined to date exhibiting multi-kilometre hydrothermal alteration footprints, anomalous copper ± gold ± molybdenum geochemistry, quartz stockwork veining, localized hydrothermal breccias and Miocene aged dacitic to dioritic porphyry intrusions. Kobrea also holds a 100% interest in the Upland Copper Project in British Columbia, Canada.
For more information, please consult the Company's filings, available at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Hedalen"
James Hedalen
CEO & Director