World Copper Announces Amendment to Letter Agreement for the Acquisition of the Zonia Copper Oxide Project

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU) announces that, further to its news release of April 20, 2021, it has reached an agreement to amend the letter agreement dated April 13, 2021 with Cardero Resource Corp. (“Cardero“; TSXV: CDU), whereby the Company agreed to acquire 100% of Cardero’s Zonia copper oxide project located in central Arizona (“Zonia“) by way of business combination between the Company and Cardero (the “Proposed Transaction“).

Summary of Amendments

The terms of the Proposed Transaction have been amended to provide that, upon the closing of the Proposed Transaction, and subject to acceptance by the TSX Venture Exchange (the “TSXV“), the Company will grant to Robert Kopple, a controlling shareholder of Cardero, or an entity controlled by him (the “Royalty Holder“) an option (the “Royalty Option“) to acquire a 1% net smelter returns royalty (the “Royalty“) on Zonia.  The Royalty Option may be exercised by the Royalty Holder, in its sole discretion, by paying to World Copper an amount equal to approximately $1.41 million.  At the election of World Copper or the Royalty Holder, 100% of the Kopple Royalty can be bought-out by World Copper in common shares of World Copper, each issued at a deemed price equal to the offering price of the previously announced concurrent private placement (see news release dated April 13, 2021), for an approximate buy-out amount of $3.0 million to $3.87 million.  In connection with the amendment to the terms of the Proposed Transaction, the parties have extended the deadline for the execution of the definitive transaction agreement to June 30, 2021.

About Zonia

Zonia is located in the Walnut Grove Mining District, Yavapai County, Arizona, and consists of 261 patented (96) and unpatented (185) mineral claims, and 566.85 acres of surface rights acquired from the State of Arizona, all totaling 4,279.55 acres.

Zonia is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s.  The project has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed.  Zonia contains Measured Mineral Resources of 15.6 million short tons grading 0.43% copper (129.3 million pounds of copper), Indicated Mineral Resources of 61.4 million short tons grading 0.31% copper (380.6 million pounds of copper) and Inferred Mineral Resources of 27.2 million short tons grading 0.28% copper (154.6 million pounds of copper) at a 0.2% total copper cut-off grade.  A preliminary economic assessment dated April 17, 2018, effective date March 22, 2018 (the “PEA“) was prepared by Global Resource Engineering Ltd., which suggests that the project can be advanced utilizing low-cost open pit mining and heap leach with SX-EW processing to produce pure copper cathode (a copy of the PEA technical report is available on Cardero’s SEDAR profile at www.sedar.com). 

Zonia was pre-stripped during mining in the late 1960s and 1970s so that, as described in the PEA, the strip ratio is a low 1:1.  Furthermore, GRE outlines a mine plan and development strategy entirely on private land, which significantly reduces the timeline for permitting.  At a copper price of $3.00/lb, Zonia shows an after-tax NPV at 6% of $225 million, and an IRR of 29.0%. 

The PEA is preliminary in nature, it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and, as such, there is no certainty that the PEA results will be realized.  Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves.

In addition to the established resource, the Zonia land position contains a copper-molybdenum geochemical anomaly (associated with depressed manganese values) that is similar in intensity and scale (1000 by 1500 metres) to the main resource, and within the same prospective geology.  This anomaly is located two kilometers northeast of the resource and represents a high-priority copper-oxide porphyry exploration drill target.

Additional Information

Additional information about the Company or Cardero is available under their respective SEDAR profiles available at www.sedar.com.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.  Mr. Drobe is not independent of the Company as he is a consultant of World Copper.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile.  World Copper is pursuing five copper porphyry targets, one with estimated mineral resources, significant soluble copper mineralization, and exciting potential to expand the resource base.

Escalones has estimated mineral resources of 185 million tonnes of 0.33% copper (0.37% CuEq) Indicated and 254 million tonnes of 0.39% copper (0.43% CuEq) Inferred, based on nearly 25,000m of drill core from 53 holes.  In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.

Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves.  Inferred Mineral Resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.  It is reasonably expected that the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.

On Behalf of the Board of Directors of

WORLD COPPER LTD.

“Nolan Peterson”

Nolan Peterson

Chief Executive Officer

For further information, please contact:

Nolan Peterson or Michael Pound

Phone: 604-638-3665

E-mail: info@worldcopperltd.com

Follow us:

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Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, the Company’s expectation that it and Cardero will be able to complete the Proposed Transaction, the closing and amount of the private placement, that Zonia can be advanced utilizing low-cost open pit mining and heap leach, the results of the PEA (including, without limitation the NPV, IRR, estimated costs and average rate of production), the anticipated exploration program results from exploration activities and the anticipated business plans and timing of future activities of the Company, including the timing for the closing of the Proposed Transaction, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will be able to negotiate and enter into a definitive agreement with respect to the Proposed Transaction, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction, that there will be investor interest in the private placement, market fundamentals will result in sustained copper and precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of such projects and the ability to comply with environmental, health and safety laws. 

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information.  Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, the reasonability of the economic assumptions at the basis of the results of the PEA for Zonia, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the private placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Proposed Transaction and the private placement by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID‑19, including the impact of COVID‑19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company’s annual and quarterly management’s discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company’s profile at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements.  The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper Announces Appointment of General Manager, Chile

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) – (TSX.V: WCU) announces that it has engaged Krzysztof Napierała as the Company’s General Manager for Chile, he will take on his role effective May 25, 2021. In this role he will be responsible for overseeing the development of Company’s portfolio of exploration and development projects in Chile.

Krzysztof is a professional with twelve years of experience in mining and manufacturing industries. He is a driven executive with a strong background in business development, exploration, project management, and the management and restructuring of mining operations.

His career is highlighted by over ten years with the KGHM Group, one of the world’s largest copper and silver miners, where he started as an associate in the exploration and development team, supporting the company’s business development activities and new acquisitions. He then spent five years with the the Group’s Vancouver office as Manager of Business Development. Krzysztof has been involved in several projects at various stages, from exploration through resource development to operations. He oversaw the execution of exploration programs and production optimization efforts. He led corporate exploration teams in both Americas and supervised KGHM’s corporate technical services group, supporting the operating and development assets in North America.

In 2018 Krzysztof moved to Santiago, Chile as a Head of Projects Development and later assumed the role of General Manager of KGHM Chile. He led corporate Exploration teams in Chile responsible for drafting and executing corporate exploration programs and headed the corporate project development teams responsible for ensuring business continuity. During his tenure in Chile, he led a team which delivered two positive feasibility studies, and de-risked an SX-EW brownfield copper project and developed a comprehensive closure plan. As General Manager of KGHM Chile Krzysztof’s team was responsible for optimizing the Franke mine, securing the extension of the operations by 3 years, as well as restoring the profitability of the operations. Krzysztof successfully led his management team through a major restructuring effort and optimized the cost structure of the operations, while fostering an inspiring work-culture and partnership with key stakeholders.

Krzysztof has worked and studied in five countries in Europe and the Americas. He is fluent in four languages and highly experienced in working in and leading multicultural teams at global organizations. Krzysztof is a graduate of the University of Poznan, the Warsaw School of Economics and the Executive Academy at IMD, Lausanne. He brings a valuable perspective on asset development in an ever-changing environment.

Krzysztof stated, “I am excited to be joining World Copper and having the opportunity to help the team de-risk our outstanding portfolio of assets in Chile. I believe that the Escalones project can become our major copper development asset, and that we will soon begin to fully uncover the exploration potential of the Cristal property. Both properties will benefit from their favourable locations in this mining-friendly and stable jurisdiction. I am thrilled to have the opportunity to build a dynamic team developing and growing World Copper’s asset base in Chile, as the prospects for the copper mining industry in Chile remain exceptional.”

CEO Nolan Peterson said “I am very pleased to have an experienced mining executive like Krzysztof join our team to oversee our day-to-day operations in Chile.  Kryzsztof’s ability to manage and advance projects through exploration and development will be a significant benefit to the Company and he is a strong addition to our team.

Please visit our web site www.worldcopperltd.com to see the complete team of management, directors and advisors.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its two primary copper porphyry projects, Cristal and Escalones, both located in Chile.  World Copper has laid claim to five copper porphyry targets, one with estimated resources and significant soluble copper mineralization.

The Escalones porphyry-skarn copper-gold project has estimated resources of 185 million tonnes of 0.33% copper (0.37% CuEq) Indicated and 254 million tonnes of 0.39% copper (0.43% CuEq) Inferred, based on nearly 25,000m of drill core from 53 holes. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 5-10km to the north of the main discovery.

Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves.  Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.  It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.

Cristal is in a prospective porphyry copper belt and with high potential for additional large porphyry discoveries, and the World Copper team has long been involved in the Chilean lithium space and as such has a unique skill in navigating the mining sector within the country.

Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates please follow us on our social media pages via Facebook, Twitter & LinkedIn.

For further details on the Company readers are referred to the Company’s website.  To view the Company’s Canadian regulatory filings, please visit SEDAR.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.  Mr. Drobe is not independent of the Company as he is a consultant of World Copper.

On Behalf of the Board of Directors of

WORLD COPPER LTD.

Nolan Peterson”

Nolan Peterson
Chief Executive Officer

For further information, please contact:
Nolan Peterson or Michael Pound

Phone:  604-638-3665
E-mail: info@worldcopperltd.com

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper are forward-looking statements.  Although World Copper believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation,, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper’s Chilean projects in a timely manner, including the Escalones Project and the Cristal Project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper’s projects and its ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information.  Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper’s interests in the Cristal Project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World Copper’s continuous disclosure documents.  All of World Copper’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the Escalones Technical Report and the technical report on the Cristal Project, when filed.

Readers are cautioned not to place undue reliance on forward-looking statements.  World Copper does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper Announces Appointment of New Chief Executive Officer

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper“) – (TSX.V: WCU) announces that it has appointed Mr. Nolan Peterson as the Company’s Chief Executive Officer (CEO) as of April 26, 2021.

Mr. Peterson is an engineer and finance executive with an extensive career in the mining industry focusing on project development, corporate finance and accounting, engineering, and project management. Most recently he served in senior management within the finance group at TMAC Resources Inc., working to develop the Hope Bay project; prior to its acquisition by Agnico Eagle Mines. Before TMAC, he worked for New Gold Inc. for seven years, primarily in project development, constructing and commissioning the New Afton mine before moving to advance the Rainy River and Blackwater projects. After successful advancement of these projects, he then took a role with New Gold’s finance group and led financial planning and analysis for the company. Mr. Peterson also has extensive experience working at SNC-Lavalin where he focused on project development for several clients including Barrick Gold Corp., Newmont Corp., Rio Tinto and Quadra FNX amongst others. He is experienced in all stages of project development from conception to operation and the integration with corporate finance. Mr. Peterson grew up in Nunavut in Canada’s arctic, an upbringing that has left him uniquely aware of the needs of local communities and environments surrounding mineral development projects. His perspectives will be invaluable to helping understand key issues that impact and shape the development of modern mining companies. Mr. Peterson brings a strong technical and financial background to the role, he holds a Master of Business Administration from UBC’s Sauder School of Business, a bachelor’s degree in Materials (Metallurgical) Engineering from UBC, he is a CFA® Charterholder, a Project Management Professional and a Professional Engineer in British Columbia and Ontario.

Nolan Peterson stated “I am honoured and excited to be joining World Copper at this early stage of growth and development. We are aiming to become a major player in the copper industry, as our recent announcement to enter negotiations to acquire the Zonia Copper Oxide project demonstrates. (see news release April 20, 2021). In order to capitalize on strong copper prices resulting from the world’s rapid realization that copper is one of the green materials of the future, we will be moving quickly to develop the late-stage Zonia project. Our intent is push forward with permitting, engineering and planning to get Zonia up and running soon and I will work quickly to put us onto this path to production.” Said Mr. Peterson “Our other fantastic assets, Escalones and Cristal remain our long-term prizes that we will continue to explore and develop. Supporting the development of our Chilean assets with internal sources of capital will mitigate future shareholder dilution and maximize our efforts to build and capture long-term value.  The World Copper team is excited to continue growing our organization and I am thrilled to get started. I look forward to providing updates and continuing open communication with our valued stakeholders as we push our project pipeline forward.”

Henk van Alphen will resign as CEO of World Copper effective as of April 26th, 2021 and assume the position of Chairman of the Board of World Copper where he will remain active in the leadership of World Copper. “On behalf of the World Copper team I would like to personally thank Henk for his tireless efforts to put us in the position we are in today, primed for growth and success. Henk will remain a director of World Copper and will continue to be a key advisor and mentor to myself and I look forward to continuing to work closely with him.” commented newly appointed CEO, Nolan Peterson.

Please visit our web site www.worldcopperltd.com to see the complete team of management, directors and advisors.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its two primary copper porphyry projects, Cristal and Escalones, both located in Chile. World Copper has laid claim to five copper porphyry targets, one with estimated resources and significant soluble copper mineralization.

The Escalones porphyry-skarn copper-gold project has estimated resources of 185 million tonnes of 0.33% copper (0.37% CuEq) Indicated and 254 million tonnes of 0.39% copper (0.43% CuEq) Inferred, based on nearly 25,000m of drill core from 53 holes. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 5-10km to the north of the main discovery.

Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated based on limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.

ABOUT ZONIA

The Zonia Copper Oxide Project is a near-surface copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project has been significantly de-risked with almost 700 drill holes completed to date. A preliminary economic assessment dated April 17, 2018 (effective date March 22, 2018; “PEA“) was prepared by Global Resource Engineering Ltd. and suggests that the project can be advanced utilizing low-cost open pit mining and heap leach with SX-EW processing to produce pure copper cathode (a copy of the PEA technical report is available on Cardero’s SEDAR profile at www.sedar.com.). The project has been pre-stripped during the mining in the late 1960’s and 1970’s to that has produced the strip ration used in the PEA of 1:1. Furthermore, Global Resource Engineering Ltd. outlines a mine plan and development strategy contained on private land which significantly reduces the timeline for permitting. At a copper price of $3.00/lb, the project shows an after-tax NPV@6% of $225 million, and an IRR of 29.0%. Those numbers are significantly improved at today’s copper prices.

In addition to the established resource, the Zonia land position contains a robust copper-molybdenum geochemical anomaly (associated with depressed manganese values) that is similar in intensity and scale to the main resource and is situated in the same prospective geology. This anomaly is located 2 kilometers northeast of the resource and represents a high priority copper-oxide porphyry exploration drill target. The new anomaly measures 1500 by 2000 metres and appears to be a sister deposit.

ABOUT CRISTAL

Cristal is in a prospective porphyry copper belt and with high potential for additional large porphyry discoveries, and the World Copper team has long been involved in the Chilean lithium space and as such has a unique skill in navigating the mining sector within the country.

Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates please follow us on our social media pages via Facebook, Twitter & LinkedIn.

For further details on the Company readers are referred to the Company’s website. To view the Company’s Canadian regulatory filings, please visit SEDAR.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a consultant of World Copper.

On Behalf of the Board of Directors of
WORLD COPPER LTD.

Nolan Peterson”

Nolan Peterson
Chief Executive Officer

For further information, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper are forward-looking statements. Although World Copper believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation,, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper’s Chilean projects in a timely manner, including the Escalones Project and the Cristal Project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper’s projects and its ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper’s interests in the Cristal Project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World Copper’s continuous disclosure documents. All of World Copper’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the Escalones Technical Report and the technical report on the Cristal Project, when filed.

Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper Commences Trading on the TSX Venture Exchange and Provides Corporate Update

Vancouver, British Columbia–(Newsfile Corp. – January 26, 2021) – World Copper Ltd. (TSXV: WCU), formerly Allante Resources Ltd. (“World Copper” or the “Company“) announces that its common shares are set to begin trading on the TSX Venture Exchange (the “TSXV“) as of market open on January 26, 2021.

General Company and Industry Update

Much has happened at World Copper since our last corporate update news release dated October 8, 2020. The outbreak of the COVID-19 pandemic notwithstanding, World Copper has been advancing on several fronts. In a news release dated January 18, 2021, the Company announced the closing of its previously announced “qualifying transaction” with 1188893 B.C. Ltd. (formerly World Copper Ltd.) and, as a condition to the completion of the transaction, the Company completed a name change from “Allante Resources Ltd.” to “World Copper Ltd.” effective January 12, 2021. Additionally, CEO & Director Henk van Alphen kicked-off 2021 with an interactive webinar on January 18th during which a general Company update was given to shareholders and interested parties (the webinar can be viewed here).

Since the beginning of the COVID-19 pandemic, copper supplies have decreased from South America, the U.S. and Africa. The price of copper recently cleared USD$3.50 per pound as the world is experiencing increasing Chinese demand. This represents a 55% gain in the price of copper since the COVID-19 lows in March 2020. China consumes more than half of all global copper production and as it stands, LME inventories are now at 13-year lows. Additionally, disruptions to mine supply have caused copper mine production to fall by 1.5% and 8 of the 10 largest miners in the world have recorded increasingly lower output levels during the first six months of the year. World Copper believes the future for copper is bright, and as such continues to push forward with our goals as a company operating in the burgeoning copper sector.

Recently, Goldman Sachs has stated that the next base metals “Supercycle” is on the horizon1[1]. A Supercycle is a “decades-long, above-trend movements in a wide range of base material prices” that is usually derived from a structural change in demand. The signs for this new Supercycle boom are all around us, and include the economic impact of COVID-19, the green industrial revolution, the United States’ return to the Paris Agreement and China committing to carbon neutrality by 2060. There is a synchronized global push for decarbonization that “has the potential to create a capex cycle on par with the emerging markets-driven cycle of the 2000s”. Due to the ever-increasing demand for copper, the Company is positioning itself to be a part of the supply solution, aiding in the progression of the green revolution.

Escalones Porphyry Copper Project

The Escalones Porphyry Copper Project (the “Escalones Project“) is located 35km east of El Teniente, one of the world’s largest underground copper mines, and within the renowned Chilean porphyry copper belt that runs north-south in the central Andes Mountains.

The Escalones Project covers an area of 161km2, of which (i) 46 km2 are covered by 19 exploitation concessions that are the subject of an option agreement between Chilean subsidiary of World Copper, TriMetals Mining Chile SCM (“TMI Chile“), and a third-party vendor for a 100% interest in the concessions; and (ii) 115km2 are covered by 40 exploration concessions, owned by TMI Chile.

In June 2020, World Copper commissioned Hard Rock Consulting, LLC (“HRC“) of Lakewood, Colorado to update a 2014 historical mineral resource estimate on the Escalones Project in compliance with National Instrument 43-101 (“NI 43-101“). The effective date of the updated mineral resource estimate is June 30, 2020.

The updated mineral resource estimate is reported using a 0.24% CuEq cutoff and reports the Escalones Project as having pit-constrained Indicated resources of approximately 185 million tonnes of 0.33% copper (0.37% CuEq) and Inferred resources of approximately 254 million tonnes of 0.39% copper (0.43% CuEq), based on nearly 25,000m of drill core from 53 holes. Significant gold and silver accompany the copper. The mineralization sits within a 4km2 area of hydrothermal alteration comprising quartz-sericite, potassic, and calc-silicate alteration assemblages. Coincident copper, gold and silver geochemical anomalies are associated with porphyry-style mineralization (disseminated and fracture-fill) in granitic intrusions and hornfelsed sandstone, with additional replacement-style “skarn” mineralization hosted in outer flanking calcareous sedimentary rocks.

The full report entitled “Mineral Resource Estimate for the Escalones Copper Project, Santiago Metropolitan Region, Chile” and dated September 17, 2020, with an effective date of June 30, 2020 (the “Escalones Technical Report“) can be viewed on the Company’s SEDAR profile at www.sedar.com.

Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.

Copper mineralization on the Escalones Project occurs as chalcopyrite, bornite, and covellite, which are partially to completely replaced within about 300m of the surface by secondary copper oxides, sulphates and carbonates. This replacement has led to higher grades at shallower depths, and, since the mineralization sits within a high-standing ridge, makes it more amenable to open pit mining.

One of the most exciting conclusions to come out of recent reviews of the data as applied to this revised resource estimate is the possibility for the development of a near-surface copper-oxide resource at Escalones. Approximately two-thirds of the estimated resource occurs in the oxidized enrichment zone above the sulphide mineralization. This material should be amenable to heap leach processing, which could result in lower operating costs as well as lower copper cutoff grades.

In addition, the Escalones deposit remains open laterally, with roughly 50% of the target untested. This conclusion is supported by geological and geophysical studies of the Escalones porphyry and associated mineralized skarn occurrences. While we expect to be able to increase the size of the deposit in terms of tonnage, we also believe the possibility to increase grade is high.

The Escalones “Cluster”

An important feature of Chilean copper deposits is that they often occur in clusters where more than one deposit occurs. Examples of deposit clusters in Chile are numerous and include the Escondida, Zaldivar and Escondida Norte cluster, the Chuquicamata, Radomiro Tomic, Mina Ministro Hales – MM and Mina Sur (Exotica) cluster farther north, and the Collahuasi District cluster, including Ujina, Rosario and the Quebrada Blanca deposits in the far north of the country. Today most of these mineral deposit clusters in Chile have likely been discovered and drill-tested.

The Escalones Project contains what may be one of the last remaining untested mineralized porphyry clusters in Chile. Three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 5-10km to the north of the main discovery, and were recce mapped and sampled by General Minerals Corporation (“GMC”) in 1999. GMC discovered disseminated and fracture-controlled copper oxide and sulphide mineralization within the Rio Negro target, with continuous-chip samples of outcrop returning highly encouraging initial results including 1m of 8.3% Cu, 2m of 0.52% Cu and, 500m to the southeast, 3m of 1.93% Cu within a broader sample of 34m of 0.4% Cu.

No drilling has been carried out on these three new targets (including the Rio Negro target). A qualified person has not done sufficient work to independently verify these historical sampling results and World Copper does not consider them current or necessarily indicative of future results. The potential quantity and grade of such results is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in such targets being delineated as mineral resources.

Escalones Proposed Work Program

The work program scheduled for the Escalones Project includes a preliminary 2,100m drill program in seven holes along existing roads. This will test the area south of the present drilling limit for an extension to the copper mineralization and define the oxide-sulphide boundary in this direction. Surface sampling and mapping will be a part of this program. Exploration will also be carried out over the three additional northern targets and will comprise rock sampling and mapping to adequately evaluate the potential of each of the large anomalous areas.

In order to follow up on the enriched copper-oxide and secondary mineralization potential, metallurgical studies are underway using core sample rejects for sequential copper leach and acid consumption analyses in order to further define acid-soluble mineralization at Escalones.

World Copper is closely monitoring the COVID-19 situation in Chile before mobilizing work crews to the Escalones Project. Further updates will be forthcoming as we continue to move forward.

Cristal Project Update

No work has been carried out on the Cristal Project since the October 2020 corporate update. However, the original NI 43-101 technical report is in the process of being updated along with changes to the recommended work program and budget.

In the meantime, World Copper continues to search for opportunities in the copper space.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a consultant of World Copper.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its two primary copper porphyry projects, Cristal and Escalones, both located in Chile. World Copper has laid claim to 5 copper porphyry targets, including 1 with a historical resource estimate and significant soluble copper mineralization.

Cristal is in a prospective porphyry copper belt and with high potential for additional large porphyry discoveries, and the Escalones porphyry-skarn has a historical NI 43-101 resource with a tremendous upside exploration potential in its supergene and skarn extension targets.

The World Copper team has long been involved in the Chilean lithium space and as such has a unique skill in navigating the mining sector within the country.

Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates please follow us on our social media pages via FacebookTwitter & LinkedIn.

For further details on the Company readers are referred to the Company’s website. To view the Company’s Canadian regulatory filings, please visit SEDAR.

On Behalf of the Board of Directors of

WORLD COPPER LTD.

Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer

For further information, please contact:
Henk van Alphen or Michael Pound

Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper are forward-looking statements. Although World Copper believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation,, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper’s Chilean projects in a timely manner, including the Escalones Project and the Cristal Project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper’s projects and its ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper’s interests in the Cristal Project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World Copper’s continuous disclosure documents. All of World Copper’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the Escalones Technical Report and the technical report on the Cristal Project, when filed.

Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.


[1] Reuters 2021 (https://www.reuters.com/article/us-metals-supercycle-ahome-idUKKBN29A1QM?edition-redirect=uk), “Super-cycles of commodity prices since the mid-nineteenth century”, United Nations DESA Working Paper, 2012.

World Copper Announces Closing of Qualifying Transaction Name Change

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (formerly Allante Resources Ltd.) (“World Copper” or the “Company“) is pleased to announce the closing of its previously announced qualifying transaction (the “Transaction“) with 1188893 B.C. Ltd. (formerly World Copper Ltd.) (“8893“). 

In addition, as a condition to the completion of the Transaction, the Company announces the completion of its previously announced name change from “Allante Resources Ltd.” to “World Copper Ltd.” effective January 12, 2021.

As part of the Transaction, the Company acquired all of the issued and outstanding shares of 8893 in exchange for common shares of the Company (“Company Shares“) on a 1:1 basis.  The Transaction was effected pursuant to a share exchange agreement made as of February 28, 2020 among World Copper and 8893, as amended (the “Share Exchange Agreement“).  Detailed information regarding the Transaction and other relevant information is available in the Filing Statement of the Company dated December 22, 2020 which has been filed on World Copper’s SEDAR profile on www.sedar.com (the “Filing Statement“).

The parties to the Transaction have made their final submission to the TSX Venture Exchange

(“TSXV“) in connection with the TSXV’s issuance of its listing bulletin.  It is anticipated that the Company Shares will commence trading on Tier 2 of the TSXV under the trading symbol “WCU” on or about January 25, 2021. 

Board of Directors and Management

Following the close of the Transaction, the directors and officers of the Company consist of:

NamePosition
Hendrik van AlphenChief Executive Officer and Director
Patrick James BurnsPresident and Director
Sead HamzagicChief Financial Officer
Marla RitchieCorporate Secretary
Matias HerreroDirector
Stuart RossDirector
Roberto FrérautDirector

LC275433-1

Escrowed Shares

On completion of the Transaction, certain Principals (as defined policies of the TSXV) of the Company holding an aggregate of 66,175,594 Company Shares, 1,700,000 common share purchase warrants and 1 special warrant (collectively, the “Escrowed Securities“) exercisable for up to 24,446,702 Company Shares (as more particularly described in the Filing Statement) are subject to escrow in accordance with TSXV Policy 5.4 Escrow, Vendor Consideration and Resale Restrictions (“Policy 5.4“).  Pursuant to Policy 5.4, 10% of the Escrowed Securities will be released at the time of the Final Exchange Bulletin (as such term is defined in Policy 5.4), and 15% of the Escrowed Securities will be released every 6 months thereafter until the date which is 36 months following the Final Exchange Bulletin.

Shares for Debt

Pursuant to the terms of the Share Exchange Agreement and immediately prior to the close of the Transaction, 8893 issued an aggregate of 2,666,666 common shares (the “Debt Settlement Shares“) to Joe DeVries, the former President and CEO of World Copper, and Simco Services Inc., a private company controlled by Mr. DeVries, in full and final satisfaction of World Copper’s indebtedness to such creditors in the aggregate amount of $320,000 (the “Debt Settlement“).  The Debt Settlement Shares were exchanged for Company Shares as a part of the Transaction and have been deposited into escrow with World Copper’s transfer agent and registrar pursuant to the terms of a CPC Escrow Agreement on TSXV Form 2F as more particularly described in the Filing Statement.

Early Warning Disclosure – Wealth Minerals Ltd.

Wealth Minerals Ltd. (“Wealth Minerals“), a publicly-traded company existing under the laws of British Columbia and a shareholder of the Company, makes the following announcement in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues(“NI 62-103“)and National Instrument 62-104 Take-Over Bids and Issuer Bids.

Pursuant to the Transaction, Wealth Minerals Ltd. (“Wealth Minerals“), a publicly-traded British Columbia company, acquired 25,000,000 Common Shares (the “Wealth Minerals Shares“) at a deemed price of $0.20 per share.  The acquisition by Wealth Minerals of the Wealth Minerals Shares occurred pursuant to the Share Exchange Agreement, wherein 25,000,000 shares held by Wealth Minerals in the capital of 8893 were exchanged on a 1:1 basis for Company Shares (the “Acquisition“).

Immediately prior to the closing of the Transaction, Wealth Minerals beneficially owned and had control and direction over nil Company Shares.

Immediately after the closing of the Transaction, Wealth Minerals beneficially owns and has control and direction over an aggregate of 25,000,000 Company Shares, representing approximately 18.90% of the issued and outstanding Company Shares. 

The change in Wealth Minerals’ securityholding percentage is approximately 18.90% of the issued and outstanding Company Shares.

Wealth Minerals completed the Acquisition for investment purposes.  Wealth Minerals will review its holdings in World Copper on a continuing basis and may from time to time and at any time, in their sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of World Copper, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by World Copper and other privately negotiated transactions, or otherwise, in each case in accordance with Wealth Minerals’ obligations to World Copper pursuant to the Share Exchange Agreement and with applicable securities laws.

An early warning report will be filed under the Company’s profile on the SEDAR website at www.sedar.com.  A copy of the early warning report can also be obtained from the contact below: 

Wealth Minerals Ltd.
Suite 2300, 1177 West Hastings Street
Vancouver, British Columbia, V6E 2K3
Attn: Marla Ritchie, Corporate Secretary
Phone: (604) 331-0096

On Behalf of the Board of Directors of  World Copper

“Hendrik van Alphen”

Chief Executive Officer

For further information, please contact:

World Copper
Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
World Copper Ltd. 
Suite 2300, 1177 West Hastings Street
Vancouver, BC  V6E 2K3

Follow us:
Twitter:https://twitter.com/WorldCopperLtd 
Facebook:https://www.facebook.com/WorldCopperLtd 
LinkedIn:https://www.linkedin.com/company/worldcopperltd 

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the expected trading date of the Company Shares on the TSXV, the Company’s anticipated business plans and the timing of future activities of the Company are forward-looking statements that involve various risks and uncertainties, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Forwardlooking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.  In making the forwardlooking statements in this news release, the Company has applied several material assumptions, including without limitation, that final TSXV acceptance of the Transaction and Debt Settlement will be obtained.  

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information Such risks and other factors include, without limitation, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including final acceptance by the TSXV required for the Transaction and Debt Settlement and other risks and uncertainties disclosed in the Company’s continuous disclosure documents and the TSXV filing statement for the qualifying transaction.  All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report on the Company’s Escalones project which is filed on the Company’s SEDAR profile.

Readers are cautioned not to place undue reliance on forward-looking statements.  The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper and Allante Resources Announce Closing of Concurrent Financing

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper“) and Allante Resources Ltd. (TSXV: ALL.H) (“Allante“) are pleased to announce the closing of a non-brokered private placement consisting of 27,031,466 units of World Copper (each, an “Offered Unit“) at a price of $0.12 per Offered Unit for aggregate gross proceeds of $3,243,775.92 (the “Concurrent Financing“), which Concurrent Financing was previously announced in connection with the parties’ qualifying transaction (see news releases dated December 23, 2020 and December 24, 2020).  Each Offered Unit was comprised of one common share in the capital of World Copper (each, a “World Copper Share“) and one common share purchase warrant (each, a “World Copper Warrant“), with each World Copper Warrant exercisable for one World Copper Share at a price of $0.20 per World Copper Share from the date of issuance until July 27, 2025.

In connection with the Concurrent Financing, World Copper paid aggregate finder’s fees consisting of $237,742.09 in cash and issued 1,981,182 non-transferrable finder’s warrants (each, a “Finder’s Warrant“).  Each Finder’s Warrant entitles the holder thereof to purchase one World Copper Share at a price of $0.20 per World Copper Share for a period of 24 months from the date of issuance.

Mackie Research Capital Corporation received finder’s fees consisting of $137,758.08 cash and 1,147,984 Finder’s Warrants, Red Cloud Securities Inc. received finder’s fees consisting of $48,000 cash and 400,000 Finder’s Warrants, PI Financial Corp. received finder’s fees consisting of $1,920 cash and 16,000 Finder’s Warrants, Haywood Securities Inc. received finder’s fees consisting of $9,120 cash and 76,000 Finder’s Warrants, David Smith received finder’s fees consisting of $22,944 cash and 191,199 Finder’s Warrants, David R.G. Morum received finder’s fees consisting of $1,400 cash and 11,666 Finder’s Warrants, Gerald Stern received finder’s fees consisting of $1,000 cash and 8,333 Finder’s Warrants, and MJP Justus Inc. received finder’s fees consisting of $15,600.01 cash and 129,999 Finder’s Warrants.

All securities issued pursuant to the Concurrent Financing are subject to a four month and one day hold period in Canada.  The Concurrent Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final acceptance for filing of the Concurrent Financing with the TSX Venture Exchange (the “TSXV“) and any applicable securities regulatory authorities.

On Behalf of the Board of Directors of
World Copper

“Patrick Burns”
President and CEO
On Behalf of the Board of Directors of
Allante

“Joe DeVries”
President and CEO
For further information, please contact: World Copper

Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
Allante

Joe DeVries, President and CEO
(604) 336-8616

Follow us:
Twitter:https://twitter.com/WorldCopperLtd 
Facebook:https://www.facebook.com/WorldCopperLtd 
LinkedIn:https://www.linkedin.com/company/worldcopperltd 

Cautionary Statement Regarding Capital Pool Companies

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has in no way passed upon the merits of the proposed Concurrent Financing and has neither approved nor disapproved the contents of this press release.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Concurrent Financing may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to World Copper and Allante’s anticipated business plans and the timing of future activities of the Company are forward-looking statements that involve various risks and uncertainties, are forward-looking statements. In making the forward-looking statements in this news release, World Copper and Allante have applied several material assumptions, including without limitation, that final TSXV acceptance and the required corporate approvals of the Concurrent Financing will be obtained.  

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper and Allante to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, without limitation, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper or Allante, as applicable, to obtain any necessary permits, consents, approvals or authorizations, including final acceptance by the TSXV required for the Concurrent Financing and other risks and uncertainties disclosed in Allante’s continuous disclosure documents and the TSXV filing statement for the qualifying transaction. All of Allante’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report on World Copper’s Escalones project which is filed on Allante’s SEDAR profile.

Readers are cautioned not to place undue reliance on forward-looking statements. Neither World Copper nor Allante undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper and Allante Resources Announce Amended Concurrent Financing Terms

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) and Allante Resources Ltd. (TSXV: ALL.H) (“Allante”) advise of an amendment to the terms of a previously announced (see news release dated December 23, 2020) concurrent financing of a minimum of 24,166,667 units of World Copper up to a maximum of 27,083,333 units (each consisting of one common share and one warrant) at a price of $0.12 per unit for minimum gross proceeds of $2,900,000 and up to a maximum gross proceeds of $3,250,000 (the “Concurrent Financing”).  As amended, each warrant will be exercisable for one common share from the date of issuance until July 27, 2025.  The Concurrent Financing is expected to close immediately prior to or concurrently with the closing of the previously announced qualifying transaction.  

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors of
World Copper

“Patrick Burns”
President and CEO
On Behalf of the Board of Directors of
Allante

“Joe DeVries”
President and CEO
For further information, please contact: World Copper

Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
Allante

Joe DeVries, President and CEO
(604) 336-8616

Follow us:
Twitter:https://twitter.com/WorldCopperLtd 
Facebook:https://www.facebook.com/WorldCopperLtd 
LinkedIn:https://www.linkedin.com/company/worldcopperltd 

Cautionary Statement Regarding Capital Pool Companies

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has in no way passed upon the merits of the proposed Concurrent Financing and has neither approved nor disapproved the contents of this press release.

Completion of the Concurrent Financing is subject to a number of conditions, including but not limited to, final TSXV acceptance.  There can be no assurance that the the Concurrent Financing will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Concurrent Financing may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to World Copper and Allante’s expectation that they will be able to complete the Concurrent Financing, are forward-looking statements. In making the forward-looking statements in this news release, World Copper and Allante have applied several material assumptions, including without limitation, that final TSXV acceptance and the required corporate approvals of the Concurrent Financing will be obtained, that there will be investor interest in the Concurrent Financing.  

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper and Allante to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, lack of investor interest in the Concurrent Financing, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper or Allante, as applicable, to obtain any necessary permits, consents, approvals or authorizations, including final acceptance by the TSXV required for the Concurrent Financing and other risks and uncertainties disclosed in Allante’s continuous disclosure documents and TSXV filing statement for the qualifying transaction. All of Allante’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report on World Copper’s Escalones project which is filed on Allante’s SEDAR profile.

Readers are cautioned not to place undue reliance on forward-looking statements. Neither World Copper nor Allante undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper and Allante Resources Provide Update on Qualifying Transaction

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) and Allante Resources Ltd. (TSXV: ALL.H) (“Allante”) are pleased to announce the receipt of conditional approval of the TSX Venture Exchange (the “TSXV”) to proceed with their previously announced proposed qualifying transaction (the “Transaction”) (see news release dated October 8, 2020).  Detailed information regarding the Transaction and other relevant information is contained in the Filing Statement dated December 22, 2020 which has been filed on Allante’s SEDAR profile on www.sedar.com(the “Filing Statement”).

In connection with the Transaction, Allante intends to change its name to “World Copper Ltd.” and World Copper intends to change its name to 1188893 B.C. Ltd.  The trading symbol of the resulting issuer on closing of the Transaction is expected to be “WCU”.

The Transaction remains subject to satisfaction of a number of conditions, including completion of the Concurrent Financing (as defined below).

The Transaction is currently expected to close on or about January 15, 2021. 

World Copper Concurrent Financing

The parties have received conditional acceptance from the TSXV to undertake, concurrently with the closing of the Transaction, a non-brokered private placement of a minimum of 24,166,667 units of World Copper (each, an “Offered Unit”) up to a maximum of 27,083,333 Offered Units at a price of $0.12 per Offered Unit for minimum gross proceeds of $2,900,000 and up to a maximum gross proceeds of $3,250,000 (the “Concurrent Financing”).  Each Offered Unit will be comprised of one common share without par value in the capital of World Copper (each, a “World Copper Share”) and one common share purchase warrant of World Copper (each, a “World Copper Warrant”).  Each World Copper Warrant will be exercisable for one World Copper Share for a period of 24 months following issuance at a price of $0.20 per World Copper Warrant.  The Concurrent Financing is expected to close immediately prior to or concurrently with the closing of the Transaction.  

World Copper may pay a finder’s fee on all or a portion of the Concurrent Financing consisting of a cash commission equal to 8% of the gross proceeds raised by each finder and finder’s warrants (the “Finder’s Warrants”) equal to 8% of the corresponding number of Offered Units.  Each Finder’s Warrant is non-transferable and is exercisable for one World Copper Share for a period of 24 months following the closing of the Concurrent Financing at a price of $0.20 per Finder’s Warrant. 

The proceeds of the Concurrent Financing are expected to be used to fund costs associated with closing the Transaction, the proposed work program on the Escalones project described in the Filing Statement and for general working capital purposes.

This news release does not constitute an offer of sale of any of the foregoing securities in the United States.  None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements.  This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Shares for Debt

In connection with the Transaction, World Copper has agreed to settle outstanding corporate debts of Allante (the “Debt Settlement”) in the aggregate amount of $320,000 owing to Joe DeVries, the President and CEO of Allante, and Simco Services Inc., a private company controlled by Mr. DeVries (together, the “Creditors”) through the issuance of 2,666,666 World Copper Shares to the Creditors (the “Debt Settlement Shares”) concurrently with the closing of the Transaction.

Upon closing of the Transaction, the Debt Settlement Shares will be deposited into escrow with the resulting issuer’s transfer agent and registrar pursuant to the terms of a CPC Escrow Agreement on Exchange Form 2F as more particularly described in the Filing Statement.  

On Behalf of the Board of Directors of
World Copper

“Patrick Burns”
President and CEO
On Behalf of the Board of Directors of
Allante

“Joe DeVries”
President and CEO
For further information, please contact: World Copper

Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
Allante

Joe DeVries, President and CEO
(604) 336-8616

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LinkedIn:https://www.linkedin.com/company/worldcopperltd 

Cautionary Statement Regarding Capital Pool Companies

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has in no way passed upon the merits of the proposed Transaction or the Concurrent Financing and has neither approved nor disapproved the contents of this press release.

Completion of the Transaction and the Concurrent Financing is subject to a number of conditions, including but not limited to, final TSXV acceptance.  There can be no assurance that the Transaction or the Concurrent Financing will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction or the Concurrent Financing may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to anticipated exploration program results from exploration activities, World Copper and Allante’s expectation that they will be able to complete the Transaction and the Concurrent Financing or enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper, Allante and the Resulting Issuer, are forward-looking statements. Although World Copper and Allante believe that such statements are reasonable, they can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper and Allante have applied several material assumptions, including without limitation, that final TSXV acceptance and the required corporate approvals of the Transaction, the Concurrent Financing and the Debt Settlement will be obtained, that there will be investor interest in the Concurrent Financing, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper or the Resulting Issuer’s Chilean projects in a timely manner, including the Escalones project and the Cristal project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper and the Resulting Issuer’s projects and their ability to comply with environmental, health and safety laws.  

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper, Allante and the Resulting Issuer to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper and the Resulting Issuer’s interests in the Cristal project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the concurrent financing, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper or the Resulting Issuer’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper or Allante, as applicable, to obtain any necessary permits, consents, approvals or authorizations, including final acceptance by the TSXV required for the Transaction and the continued listing of the Resulting Issuer on the TSXV, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in Allante’s continuous disclosure documents. All of Allante’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report on World Copper’s Escalones project and additional technical reports, when filed, with respect to the Resulting Issuer’s mineral properties. In this forward-looking statement, Allante, after completion of the Transaction, is referred to as the “Resulting Issuer”.

Readers are cautioned not to place undue reliance on forward-looking statements. Neither World Copper nor Allante undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

World Copper and Allante Resources Provide Corporate Update

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) and Allante Resources Ltd. (TSXV: ALL.H) (“Allante”) announce the following corporate updates on activities spanning the past eight months. 

World Copper has officially changed its name from “Wealth Copper Ltd.” to “WORLD COPPER LTD.”.

Much has happened at World Copper since the last corporate update (see Wealth Minerals Ltd.’s news release dated February 11, 2020). World Copper has been advancing on several fronts despite the outbreak of the COVID-19 pandemic.

Copper supplies have decreased from South America, the U.S. and Africa since our last update at the beginning of the pandemic. Copper prices recently cleared USD$3.00 per pound as the world is now experiencing booming Chinese demand, but with limited supply. This represents a 52% gain in the copper price since the COVID-19 lows in March 2020. China consumes more than half of world copper production presently and LME inventories are now at 13-year lows. Additionally, disruptions to mine supply may reach between 750,000 to 1 million tonnes in 2020, as 8 of the 10 largest miners in the world have recorded increasingly lower output levels during the first six months of the year. World Copper believes the future for copper is bright, and as such we continue to push forward with our goals as a company operating in the burgeoning copper sector.  

Qualifying Transaction

World Copper and Allante are pleased to announce that Allante has filed its initial submission with the TSX Venture Exchange (“TSXV”) in connection with Allante’s proposed qualifying transaction with World Copper (the “Transaction”). The initial submission included, among other things, a draft filing statement and the Technical Report (as defined below), and is currently being reviewed by the TSXV. The Transaction is subject to TSXV approval, which we anticipate to be granted in fall 2020.

Escalones Project Update

In June 2020, and in connection with the Transaction, World Copper commissioned Hard Rock Consulting, LLC (“HRC”) of Lakewood, Colorado to update a 2014 National Instrument 43-101 resource estimate on World Copper’s Escalones porphyry copper project (the “Technical Report”). HRC made the original resource estimate for Gold Springs Resource Corp., formerly TriMetals Mining Corp. (“Gold Springs”). 

The Technical Report is entitled “Mineral Resource Estimate for the Escalones Copper Project, Santiago Metropolitan Region, Chile”, with an effective date of June 30, 2020. Once posted, the Technical Report will be able to be viewed on Allante’s SEDAR profile.

The Escalones ‘Cluster’

The Escalones Project is located 35 km east of El Teniente, one of the world’s largest underground copper mines and within the renowned Chilean porphyry copper belt that runs north-south in the central Andes Mountains.

The Escalones Project area covers 161 km2 and contains what may be one of the last remaining untested mineralized porphyry clusters in Chile comprising, along with the drill-tested deposit, an additional three large copper-anomalous hydrothermal alteration zones each measuring between 2,000 m and 3,000 m in diameter. These colour anomalies lie within 5 to 10 km to the north of the main discovery and were recce mapped and sampled by General Minerals Corporation (“GMC”) in 1999. GMC discovered disseminated and fracture controlled copper oxide and sulphide mineralization within the Rio Negro target, with outcrop channel samples returning highly encouraging initial results including 1m of 8.3% Cu, 2m of 0.52% Cu and, 500m to the southeast, 3m of 1.93% Cu within a broader channel sample of 34m of 0.4% Cu. GMC is the former parent company of Gold Springs.

No drilling has ever been carried out on these three significant new targets (including the Rio Negro target).  A qualified person has not done sufficient work to independently verify these historical sampling results and neither World Copper nor Allante consider them current or necessarily indicative of future results.  The potential quantity and grade of such results is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in such targets being delineated as mineral resources.

An important feature of large Chilean copper deposits is that they often occur in clusters where more than one deposit occurs. 

Escalones Proposed Work Program

The work program planned for the Escalones Project includes a Phase 1 programme of 600 rock samples taken from the flanking targets at the main deposit and the three large distal surface anomalies.

In order to follow up on the enriched copper-oxide and secondary mineralization potential, metallurgical studies are planned using core sampling rejects for sequential copper leach analyses in order to further define acid soluble mineralization at Escalones.

World Copper is closely monitoring the COVID-19 situation in Chile before mobilizing work crews to its projects. Further updates will be forthcoming as we continue to move forward. 

Cristal Project Update

No work has been carried out on the Cristal Project since the February corporate update. However, a NI 43-101 technical report is in the process of being prepared for World Copper on the Cristal Project. 

The technical report on the Cristal Project prepared for the former property holder, New Energy Metals Corp. by Thomas A. Henricksen entitled “National Instrument 43-101 Technical Report for the Cristal Copper Property, Province of Arica, XV Region of Arica and Parinacota, Chile” dated effective February 28, 2018, was filed on SEDAR by New Energy Metals Corp. on March 29, 2018.

In the meantime, World Copper continues searching globally for opportunities in the copper asset space.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.  Mr. Drobe is not independent of World Copper as he is the Chief Geologist of World Copper.

On Behalf of the Board of Directors of
World Copper

“Patrick Burns”
President and CEO
On Behalf of the Board of Directors of
Allante

“Joe DeVries”
President and CEO
For further information, please contact: World Copper

Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
Allante

Joe DeVries, President and CEO
(604) 336-8616

Follow us:
Twitter: https://twitter.com/WorldCopperLtd 
Facebook: https://www.facebook.com/WorldCopperLtd 
LinkedIn: https://www.linkedin.com/company/worldcopperltd 

Cautionary Statement Regarding Capital Pool Companies

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to exchange requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to anticipated exploration program results from exploration activities, World Copper and Allante’s expectation that they will be able to complete the Transaction or enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper, Allante and the Resulting Issuer, are forward-looking statements. Although World Copper and Allante believe that such statements are reasonable, they can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper and Allante have applied several material assumptions, including without limitation, that TSXV acceptance and the required corporate approvals of the Transaction will be obtained, that there will be investor interest in the concurrent financing, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper or the Resulting Issuer’s Chilean projects in a timely manner, including the Escalones Project and the Cristal Project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper and the Resulting Issuer’s projects and their ability to comply with environmental, health and safety laws.  
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper, Allante and the Resulting Issuer to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper and the Resulting Issuer’s interests in the Cristal Project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the concurrent financing, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper or the Resulting Issuer’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper or Allante, as applicable, to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSXV required for the Transaction and the continued listing of the Resulting Issuer on the TSXV, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in Allante’s continuous disclosure documents. All of Allante’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the Technical Report and the technical report on the Cristal Project, when filed, with respect to the Resulting Issuer’s mineral properties. In this forward-looking statement, Allante, after completion of the Transaction, is referred to as the “Resulting Issuer”.
Readers are cautioned not to place undue reliance on forward-looking statements. Neither World Copper nor Allante undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.