Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - CopperEx Resources Corp. (TSXV: CUEX) (the "Company" or "CopperEx") announces that it has terminated its option over the Exploradora Norte property. The Company had an option to acquire a 65% ownership interest with a preferred option to earn an additional 35%. While the Company was pleased with its exploration success at Exploradora Norte, the Company determined that additional work and significant remaining expenditures would be required in order to confirm a discovery.
In light of current market conditions and favourable exploration targets at its Kio Buggy and La Rica properties, the Company determined that it was in the best interests of the Company and its shareholders to terminate the Exploradora Norte option to focus on its other projects which are 100% owned by the Company.
Dave Prins, the Company's President and CEO said "the decision to terminate our option over Exploradora Norte followed extensive efforts in an attempt to renegotiate the option agreement. While we are disappointed those efforts were not successful, this decision is in the best interests of the Company in order to manage the current market environment that has been particularly harsh for junior exploration companies. We are excited to turn our attention to the Company's other exciting mineral projects which have not received as much attention as Exploradora Norte due to the obligations of the option agreement. Our primary focus will be on the Kio Buggy property located in northern Chile whereby as a result of our previously completed extensive field exploration program, we have clearly identified two potential porphyry targets."
Additional information about CopperEx and its Projects can be found on the Company's website at copperexcorp.com, or email info@copperexcorp.com.
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On behalf of the Board of Directors
CopperEx Resources Corp.
Dave Prins
President & CEO
For further information contact:
info@copperexcorp.com
+1 (604) 646-4527
About CopperEx Resources Corp.
CopperEx is a copper and gold focused exploration company with porphyry and porphyry related gold and copper projects located in Chile and Peru in established mineral belts near producing mines.
CopperEx owns 100% of its Kio Buggy (Northern Chile) and La Rica (Apurimac province Peru) properties, also with no attached royalties.
Strategic Alliances.
CopperEx is a member of Discovery Group based in Vancouver, Canada. For more information please visit: discoverygroup.ca.
Cautionary Note.
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 release.
Forward-Looking Information.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks, and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors, and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
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