VANCOUVER, BC — October 9, 2023 — Majuba Hill Copper Corp. (CSE: JUBA | OTC: JUBAF | FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to announce that it has entered into a Share Exchange Agreement (the “Agreement”) with 1429570 BC Ltd. (the “Vendor”) to earn up to 100% in the Copper Chest Property.
The property is located on the Bonavista Peninsula, Eastern Newfoundland and is 180 km SE of the provincial capital St. John’s and is comprised of 375 ha in fifteen separate claims.
The Company has the right to earn up to a 100% interest in the Copper Chest property under the following terms on or before Time of Closing (the “Closing Date”):
- Issuing 13,260,000 Common Shares of Majuba Hill Copper (the “Consideration Shares”) with the Consideration Shares being issued at a deemed price of $0.15 per share; and
- receipt of all required regulatory, corporate, and third-party approvals including the Canadian Securities Exchange (the “CSE”); and
- the Closing Date shall be on or before November 15, 2023 (the “Termination Date”).
David Greenway, CEO of Majuba Hill Copper Corp. commented, “In our ongoing pursuit of growth and value creation, we are thrilled to announce our option agreement to secure 100% ownership of the Copper Chest Property in Newfoundland. This milestone underscores our commitment to fortifying our Canadian copper portfolio and seizing the moment to make timely acquisitions that enhance our company’s worth during opportune market conditions. The geological characteristics and copper mineralization found on the Bonavista Peninsula bear striking resemblances to established sediment-hosted copper-producing districts, further fueling our enthusiasm for the potential of this project. Together, we embark on a journey of discovery, forging a path to prosperity, sculpting our destiny one copper vein at a time.”
Highlights of the property include:
- The Property is predominantly underlain by turbiditic sediments of the Late Precambrian Connecting Point Group.
- The group consists of grey to black shale, argillite and slate, green greywacke, and minor conglomerate.
- Mineralization occurs mainly as disseminated fracture-controlled chalcocite (+/- silver) hosted in grey to green sequence of gently dipping reduced sandstone and siltstone.
- Michel Dessureault 2001 Report 2778: Significant results include: 2,279 ppm Cu.
- Road access from Port Rexton or Trinity via Newfoundland and Labrador Route 230.
 Michel Dessureault 2001. 2001 Work Report, Red Cliff Property; Geological Survey of Newfoundland and Labrador Geofile number NFLD_2778
The scientific and technical information contained in this news release has been reviewed by Larry Segerstrom, MSc (geology), CPG, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Majuba Hill Copper Corp.
David C. Greenway
President & CEO
For further information, please contact:
VP of Corporate Communications
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Majuba Hill Copper Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Majuba Hill Copper Corp. management on the date the statements are made. Except as required by law, Majuba Hill Copper Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.