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QC Copper Announces Strategic Acquisition of Cuprum Corp.

In This Article:

  • QC Copper to acquire Cuprum and its 100% owned Thierry Copper Project in an all-share deal

  • The acquisition strengthens QC Copper's position as a major Canadian copper developer with two large two, easily accessible multi-billion-pound copper projects

  • Thierry Copper Project, a 7,907-hectare past producer, offers significant growth potential

  • The combined company will rebrand as XXIX Metal Corp., reflecting copper's atomic number 29

Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ("QC Copper" or the "Company") is excited to announce a binding share purchase agreement with the principal shareholders of Cuprum Corp. ("Cuprum") and its concurrent offer to purchase to all of the other shareholders of ‎Cuprum pursuant to which the Company expects to acquire 100% of Cuprum in an all-share deal (the "Acquisition"). This Acquisition will establish QC Copper as one of Canada's largest copper resource developers, with two multi-billion-pound copper deposits in Quebec and Ontario-Canada's best mining jurisdictions.

"This acquisition will mark a transformative step in QC Copper's growth. With the addition of the Thierry Copper Project, we would have two cornerstone assets in Canada's top mining regions, significantly expanding our resource base and infrastructure. Both Thierry and Opemiska are in mining-friendly areas with access to critical infrastructure such as all-season roads, power, and rail, and both historically sent copper concentrates to the Horne Smelter. These geographic advantages reduce capital expenditure and operational risks while optimizing supply chain efficiency-crucial as the global copper market faces constraints. Securing copper supply is more important than ever, with exploration and development at record lows. Canada's mining sector is at a critical juncture, facing challenges like regulatory bottlenecks and underinvestment. As we transition to XXIX Metal Corp., we are positioning ourselves to meet growing global demand and help Canada reaffirm its role as a global mining leader," said Stephen Stewart, CEO of QC Copper.

Strategic Value of Cuprum's Thierry Copper Project

The Thierry Copper Project ‎("Thierry") spans 7,907 hectares and historically produced 5.8 million tonnes grading 1.13% copper, and 0.14% nickel. Both QC Copper's Opemiska and Cuprum's Thierry Mine historically shipped its copper concentrates to the Horne Smelter in Rouyn-Noranda. Thierry currently hosts two resource-stage deposits-Thierry Underground, known as K2 and the K1 Open Pit, both with National Instrument 43-101 ‎‎- Standards of Disclosure for Mineral Projects ("NI 43-101") compliant resources. Thierry has two additional near surface zones-J & G zones-with historical resources (see the disclosure below on Historical Resources‎). Thierry can be easily accessed via all-season road and is proximal to other necessary infrastructure including hydroelectric power, rail and airport.