Technical Assistance Agreement with Copper Mountain Mining Corp.
20.03.2013 | The Newswire
Mar 20th, 2013 Copyright - (via Thenewswire.ca) - Anglo Canadian Mining Corp ("the Company") is pleased to announce that it has signed a Technical Assistance Agreement (the "Agreement") with Copper Mountain Mining Corp. (the "Advisor"). The Company owns 100% of approximately 2200 hectare of mineral claims adjacent to Copper Mountain's producing mine, located near Princeton B.C. The Advisor has offered to provide technical assistance gained through the exploration and mining operations of its property, which is expected to augment the Company's exploration efforts. In return for its technical assistance the, Advisor has been granted a First Right of Refusal to acquire the Company's Princeton Property. The Company reserves the right to negotiate with third parties on joint ventures, as well as selling its 100% interest in the property, while the First Right of Refusal allows the Advisor to match any third party purchase offer. The Agreement shall be in force until the end of 2013 but may be extended by mutual consent.The Agreement does not constitute a required investment into the Property, however, the Company would consider direct investment offers from the Advisor.
The Company is pleased with recent chip samples, geophysics and diamond drilling results, and is encouraged to continue to explore the Property, which will include mapping and drilling with the goal of expanding higher-grade target-areas. The Company hopes to leverage the geological expertise of the Advisor with regards to exploration targets and exploration strategies. In addition, the Company hopes to increase exploration efficiency through shared costs on some exploration activities and equipment mobilization.
The Company has designed a 2013 drill program that includes both percussion and diamond drilling in order to effectively test existing targets and new targets indentified by it's 3D-IP/Mag survey. This program will commence once the snow melts which is expected by mid April.
About Anglo Canadian Mining Corp.
Anglo Canadian Mining is a junior mineral exploration company with copper, gold and uranium properties in Quebec, Colorado, British Columbia, and Yukon. For more information on the Company and its projects, please visit the website at www.anglocanex.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Len J.Harris"
Len J. Harris, President
T: 604 669 6807
Toll Free: 866 488 3838
E: len@anglocanex.com
Neither 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.
