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SPC SPC Nickel Corp

0.045
0.00 (0.00%)
08 Aug 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
SPC Nickel Corp TSXV:SPC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.045 0.045 0.05 0.045 0.045 0.045 501,060 20:56:36

Superior Copper Terminates Net Smelter Royalty on Coppercorp Project and Announces Closing of Joint Venture Buy-Out

20/12/2013 6:00pm

Marketwired Canada


Superior Copper Corp. (TSX VENTURE:SPC) ("Superior Copper" or the "Company") is
pleased to announce that it has bought back a 1.5% net smelter royalty (the
"NSR") that was previously applicable to certain mineral claims on its flagship
Coppercorp Project, located within the Batchawana Copper Project. Superior
Copper paid $36,000 in cash and issued 450,000 shares in return for the
repurchase and extinguishment of the Company's obligations under the NSR. As a
result of this transaction, all claims within the 120 square kilometre
Coppercorp Project that the Company believes may be most significant for
exploration are now free of royalties. The only remaining royalty in the area is
a 1.25% net smelter royalty on four claims acquired by the Company in 2012.


The NSR was held by a group of prospectors who staked the claims in 2002 after a
30 year moratorium on staking in the area expired. The moratorium was a result
of improper closure of the Coppercorp Mine and the nearby Tribag Mine in
1972-1973. The Coppercorp Mine was rehabilitated by the Ontario Government and
no environmental or safety liabilities remain at the mine site.


The Company also announces that further to its news release of December 17,
2013, it has completed the acquisition of First Minerals Exploration Limited's
50% interest in certain claims at the Coppercorp Property. As a result, Superior
Copper now retains a 100% interest in the 101 unpatented mining claims
constituting the Coppercorp Property.


Superior Copper Corporation  

Superior Copper Corporation is a Canadian-based exploration company focused on
base and precious metal exploration. The Company's primary objective is to
target highly prospective and underexplored mineral properties, particularly
copper, in order to meet the increasing global demand. The Company has two key
exploration projects: the Batchawana Copper Project near Sault Ste. Marie,
Ontario, and the Riviere Dore Project in Quebec. 


Shares Outstanding: 80,406,284

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange ("TSX-V") 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 release. This
News Release includes certain "forward-looking statements". These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or 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. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws. Please
see our public filings at www.sedar.com for further information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Superior Copper Corporation
Brian Howlett
President & CFO
416.214.2275
bhowlett@superiorcopper.ca


Superior Copper Corporation
Morgan Quinn
VP Corporate Development
416.214.2222
mquinn@superiorcopper.ca
www.SuperiorCopper.ca

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