Kobrea Completes Next Payment Under Property Option Agreement for Its Western Malargüe Copper Projects - Mendoza Province, Argentina

Core Viewpoint - Kobrea Exploration Corp. has completed a payment under its option agreement for the Western Malargüe Copper Projects in Argentina, indicating progress in its acquisition strategy for mineral exploration [2][3]. Group 1: Payment Details - The recent payment consisted of USD$350,000 in cash and the issuance of 105,000 common shares, marking the first portion of the third payment under the Option Agreement [3]. - The common shares issued will be subject to a hold period of four months and one day following issuance, in accordance with applicable securities laws [3]. Group 2: Option Agreement Terms - Under the Option Agreement, Kobrea can acquire up to a 100% interest in the Western Malargüe Copper Projects, which are subject to a 1.5% net smelter return royalty for the optionors [4]. - The total consideration for the acquisition includes the issuance of 3,500,000 common shares and cash payments totaling USD$6,760,000, to be made in stages over a five-year period [4]. Group 3: Project Overview - Kobrea holds the right to earn a 100% interest in seven projects covering 733 km² in southwestern Mendoza Province, Argentina, which are considered highly prospective for porphyry copper and copper-gold deposits [5]. - The projects have outlined numerous porphyry copper targets with significant geological features, including hydrothermal alteration footprints and anomalous geochemistry [5].