World Copper Signs Definitive Agreement to Acquire Brassie Creek Project in British Columbia

Core Viewpoint - World Copper Ltd. has entered into a definitive property option agreement to acquire a 100% interest in the Brassie Creek Project, a copper and gold property in British Columbia, Canada, subject to a 2% net smelter returns royalty [1][10]. Project Overview - The Brassie Creek Project is a porphyry-skarn copper and gold property covering approximately 1,861 hectares, located about 50 km west of Kamloops, British Columbia [2]. - The project is situated near other active mines, including Teck Resources Limited's Highland Valley Mine and New Gold Inc.'s New Afton Mine, although World Copper has no rights to these neighboring properties [3]. Historical Exploration - Historical exploration activities at the Brassie Creek Project include various surveys and drilling, with notable findings of polymetallic skarn mineralization [4][9]. Option Agreement Terms - The Property Option Agreement requires World Copper to issue a total of 900,000 common shares, make cash payments totaling CAD 440,000, and incur exploration expenditures of CAD 750,000 to fully exercise the option [5]. - The payment schedule includes an initial payment of CAD 5,000 upon signing, followed by additional cash and share payments over the next three years [5][6]. Royalty Structure - Upon exercising the option, the vendor will retain a 2% net smelter returns royalty, with the possibility for World Copper to repurchase 50% of this royalty for CAD 1,500,000 [10]. Company Management Changes - The company announced the resignation of Hendrik van Alphen as Chairman and a director, thanking him for his contributions [12].