TORONTO, ONTARIO--(Marketwire - Oct. 1, 2012) -
Copper One Inc. (TSX VENTURE:CUO) (the "Company" or "Copper One") is pleased to announce its NI 43-101 compliant resource estimate at its Lone Mountain property ("the Property"). The 620 hectare porphyry-skarn concession is Copper One's principal of six American projects and is located near Silver City, New Mexico, a prolific mining district containing several past-producing and operating open pit mines in the USA. The Company has an undivided 100% interest in the two State Mineral leases and forty federal mining claims.
The resource results in the report are of 151.1M tonnes @ 0.195 % Cu Indicated and of 65.4M tonnes @ 0.154 % Cu in the Inferred category. Upgrading this resource to the Measured and Indicated categories will require more infill drilling with two additional phases that, together, are budgeted at $10.3M.
The report points to the apparent existence of a substantial resource in the Lone Mountain area. This is shown by the drilling, sampling and mapping performed by prior operators of the Property, resource calculations by Lynn Canal Geological Services this Summer, and extensive Company data acquired since 2009.
Benoit Moreau, Copper One's President and Chief Executive Officer states "We are very pleased with the results released in this Technical Report as it prepares us for the next step of development at Lone Mountain, our flagship American property."
As well, following her appointment as Corporate Secretary and Chief Legal Officer, Ms. Zamuner has been granted 150,000 stock options of the Company, which may be exercised at a price of $0.16 per common share for a period of five years from the date of her appointment and are subject to the approval of the TSX Venture Exchange.
The scientific and technical information in this news release has been reviewed and approved by Benoit Moreau, Copper One's President and CEO, a professional engineer and a qualified person as defined by National Instrument 43-101.
About Copper One Inc.
Copper One is focused on developing high-value copper deposits in leading mining jurisdictions. The newest additions to Copper One's portfolio are the Rivière Doré copper-nickel project, located near Val d'Or, Quebec, and the Queylus copper-gold project, located in the Chibougamau mining district of Quebec. Copper One has six other properties in the Arizona and New Mexico copper mining districts, including the Lone Mountain copper oxide project. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the business of mining.
For more information about Copper One Inc., please visit: www.copperone.com.
On behalf of the board of directors of Copper One Inc.,
Benoit Moreau, President & Chief Executive Officer
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements with respect to the impact of the acquisition on the Company and the Company's exploration plans with respect to the Property. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Copper One Inc. believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
NEITHER THE 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.