Toronto, February 7, 2020 - Hornby Bay Mineral Exploration Ltd. (TSXV: HBE) (the "Company") announces that, further to its press release of January 30, 2020, it has completed the sale of its 5% net smelter return royalty (the "Royalty") on the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company received the initial cash payment of $2,500,000 from Copper Mountain Mine (BC) Ltd. and a promissory note in the amount of $2,500,000, representing the balance of the $5,000,000 purchase price, which is due on February 1, 2021.
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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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Toronto, February 7, 2020 - Hornby Bay Mineral Exploration Ltd. (TSXV: HBE) (the "Company") announces that, further to its press release of January 30, 2020, it has completed the sale of its 5% net smelter return royalty (the "Royalty") on the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company received the initial cash payment of $2,500,000 from Copper Mountain Mine (BC) Ltd. and a promissory note in the amount of $2,500,000, representing the balance of the $5,000,000 purchase price, which is due on February 1, 2021.
