Category: Uncategorized

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces that Cardero Resource Corp. (“Cardero“) shareholders have approved all matters voted on at the annual and special meeting (“Cardero ASM“) held on December 10, 2021, including the approval of the previously announced plan of arrangement (the “Arrangement“), whereby the Company and Cardero have agreed to combine their respective businesses (the “Arrangement Resolution“) (see news releases dated April 20, June 9, September 20 and November 9, 2021).

Nolan Peterson, World Copper’s CEO stated, “By voting overwhelmingly to approve the merger with World Copper, the shareholders of Cardero have provided a strong vote of confidence as we now move to complete this merger. Zonia is a premier asset in an excellent jurisdiction and a perfect complement to our Escalones project in Chile. The World Copper team and I look forward to soon welcoming Cardero shareholders into the company.”

The Arrangement Resolution was approved by 100% of the votes cast by the Cardero shareholders present in person or by proxy at the Cardero ASM, including 99.99% of votes cast by minority Cardero shareholders. Cardero will now make an application to seek final approval (the “Final Order”)of the Arrangement from the Supreme Court of British Columbia. Upon receiving the Final Order, it is anticipated that the Arrangement will be completed on or about December 20, 2021. The completion of the Arrangement will be subject to receipt of all necessary approvals, including final acceptance by the TSX Venture Exchange (the “TSXV“) of the Arrangement and the delisting of the Cardero common shares, and satisfaction by the parties of TSXV’s closing conditions and other conditions customary in transactions of this nature.

Further information on the Arrangement can be found in the Cardero management information circular dated November 1, 2021, which is available on Cardero’s SEDAR profile at www.sedar.com.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the Arrangement.

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.

Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates you may 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.

On Behalf of the Board of Directors of

WORLD COPPER LTD.

“Nolan Peterson”

Nolan Peterson
Chief Executive Officer

For further information, or to schedule a Zoom meeting with Management, please contact:

Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

For all Investor Relations inquiries, please contact:

John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670

For all Public Relations inquiries, please contact:

Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053 

Follow Us:

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

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. All statements, other than statements of historical fact, included herein including, without limitation, that Cardero will be successful in obtaining the Final Order, the expected completion date of the Arrangement, 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 the Company 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 Cardero and the Company will receive all necessary approvals for the Arrangement, 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 the Company’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 the Company’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 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, 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 the Company’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 (including of 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 inability of the Company 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 the company’s continuous disclosure documents. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces a reminder on the upcoming conference call scheduled with World Copper management for November 16, 2021.

Details on the Upcoming Management Conference Call

The call will be hosted by Nolan Peterson (CEO) on Tuesday, November 16, 2021 at 1:15 pm Pacific Standard Time (4:15 pm Eastern Standard time and 9:15 pm Central European Time). The purpose of the call is to provide a general update and discussion of the company’s recent developments and near-term plans.

Dial-in numbers are as follows:
Dial-In (Toll-Free US & Canada):  +1 877-407-6176
Dial-In (International):  +1 201-689-8451

There is no access code.

Live Event Call me™ link (for participant entry):

https://hd.choruscall.com/InComm/?callme=true&passcode=13724979&h=true&info=company-email&r=true&B=6

Participants can use Guest dial-in telephone numbers above and be answered by an operator OR click the Call me™ link for instant telephone access to the event.

Engagement with North Equities Corp.

The Company has entered into a 6-month marketing and consulting contract with Toronto based marketing firm, North Equities Corp. (the “Contract”). North Equities Corp. specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company’s news. In connection with the Contract, the Company will pay North Equities $100,000 CAD. North Equities currently owns 0 shares of the Company.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects:  Escalones and Cristal in Chile, and Zonia in Arizona.  Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base.  The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp.  Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.

About Escalones

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes.  The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.  The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource.   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 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.

About Zonia

The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s.  The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

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, or to schedule a Zoom meeting with Management, please contact:

Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

For all Investor Relations inquiries, please contact:

John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670

For all Public Relations inquiries, please contact:

Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053

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.  All statements, other than statements of historical fact, included herein including, without limitation, that Cardero Shareholders will approve the Arrangement, that Cardero will be successful in obtaining the Final Order, the expected completion date of the Arrangement, 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 the Company 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 Cardero and the Company will receive all necessary approvals for the Arrangement, 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 the Company’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 the Company’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 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, 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 the Company’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 (including of the TSX Venture Exchange), 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 inability of the Company 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 the company’s continuous disclosure documents.  All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company”; TSXV: WCU, OTCQB: WCUFF) announces an upcoming conference call with management and that Cardero Resource Corp. (“Cardero”) has obtained an interim order of the Supreme Court of British Columbia (the “Interim Order”) in connection with the previously announced plan of arrangement (the “Arrangement”), whereby the Company and Cardero have agreed to combine their respective businesses (see news releases dated April 20, June 9 and September 20, 2021).

Details on the Upcoming Management Conference Call

The call will be hosted by Nolan Peterson (CEO) on Tuesday, November 16, 2021 at 1:15 pm Pacific Standard Time (4:15 pm Eastern Standard time and 9:15 pm Central European Time). The purpose of the call is to provide a general update and discussion of the company’s recent developments and near-term plans. Dial-in numbers are as follows:

Dial-In (Toll-Free US & Canada): +1 877-407-6176
Dial-In (International): +1 201-689-8451

There is no access code.

Live Event Call me^TM link (for participant entry):

https://hd.choruscall.com/InComm/?callme=true&passcode=13724979&h=true&info=company- email&r=true&B=6

Participants can use Guest dial-in telephone numbers above and be answered by an operator OR click the Call me^TM link for instant telephone access to the event.

Update on Cardero Arrangement

The Interim Order provides for, among other things, the holding of an annual general and special meeting (the “Cardero Meeting”) of the holders of common shares of Cardero (the “Cardero Shareholders”) to approve the Arrangement under the Business Corporations Act (British Columbia). The Cardero Meeting is scheduled to be held at the offices of Cardero, at Suite 2710 – 200 Granville Street, Vancouver, British Columbia on December 10, 2021 at 10:00 a.m. (Vancouver time). The record date for determining Cardero Shareholders entitled to receive notice of and vote at the Cardero Meeting was fixed as October 19, 2021, and Cardero has mailed the management information circular (the “Information Circular”) and related materials for the

#2710-200 Granville Vancouver, BC, Canada, V6C 1S4 T: 604-638-3287 / F: 604-408-7499 www.worldcopperltd.com

Cardero Meeting to the Cardero Shareholders. At the Cardero Meeting, the Cardero Shareholders will be asked to, inter alia, consider a special resolution approving and adopting the Arrangement, substantially as contemplated by the plan of arrangement attached to the Information Circular, which is also available on Cardero’s SEDAR profile at www.sedar.com. The board of directors of Cardero unanimously recommended that Cardero Shareholders vote in favour of the resolutions approving the Arrangement.

The completion of the Arrangement is subject to certain conditions, including the receipt of the requisite approval from the Cardero Shareholders, the final approval (the “Final Order”) of the Supreme Court of British Columbia, final acceptance by the TSX Venture Exchange, and other closing conditions customary in transactions of this nature. If all necessary approvals are obtained and the conditions to the completion of the Arrangement are satisfied or waived, it is currently anticipated that the Arrangement will be completed on or about December 20, 2021.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp. Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.

About Escalones

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. 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 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.

About Zonia

TheZoniaprojectis in Yavapai County, Arizona, andconsists of 261 mineral claimsand additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

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”

NolanPeterson
Chief Executive Officer

For further information, please contact:

Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:

Nancy Thompson, Vorticom, Inc. Phone: 212-532-2208 or 917-371-4053

Investor relations inquiries:

John Liviakis,
Liviakis Financial Communications Inc. 415-389-4670

Follow Us:

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

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. All statements, other than statements of historical fact, included herein including, without limitation, that Cardero Shareholders will approve the Arrangement, that Cardero will be successful in obtaining the Final Order, the expected completion date of the Arrangement, 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 the Company 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 Cardero and the Company will receive all necessary approvals for the Arrangement, 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 the Company’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 the Company’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 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, 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 the Company’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 (including of the TSX Venture Exchange), 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 inability of the Company 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 the company’s continuous disclosure documents. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces that pursuant to World Copper Ltd.’s news releases dated Sept. 7, 2021, Sept. 30, 2021, Oct. 6, 2021, and Oct. 20, 2021, the company has closed the third and final tranche of the placement. On Oct. 28, 2021, the company issued an additional 10,468,921 units for gross proceeds of $4,187,568.50. The company has issued an aggregate of 16,223,921 units for aggregate gross proceeds of $6,489,568.50 as part of the placement.

Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share of the company for a period of two years from the date of issuance at a price of 60 cents. The expiry of the warrants may be accelerated if the closing price of the company’s common shares on the TSX Venture Exchange is equal to or greater than $1 for a minimum of 20 consecutive trading days and a notice of acceleration is provided, in accordance with the terms of the warrants.

Pursuant to the final tranche closing, additional finders’ fees were paid to Canaccord Genuity Corp. ($19,600 and 49,000 warrants), Richardson Wealth ($10,500 and 26,250 warrants), Red Cloud Securities Inc. ($70,000 and 175,000 warrants), Research Capital Corp. ($10,500 and 26,250 warrants) and MJP Justus Inc. ($5,600 and 14,000 warrants). All warrants issued pursuant to the finders’ fees are non-transferable.

All securities issued in the offering have a four-month hold period, during which time the securities may not be traded. The closing of the offering is subject to the approval of the TSX-V.

The net proceeds from the offering are intended for exploration at the Escalones and Cristal properties in Chile and for general working capital.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects:  Escalones and Cristal in Chile, and Zonia in Arizona.  Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base.  The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp.  Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.

About Escalones

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes.  The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.  The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource.    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 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.

About Zonia

The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s.  The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

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, or to schedule a Zoom meeting with Management, please contact:

Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:

Nancy Thompson, Vorticom, Inc.
Phone: 212-532-2208 or 917-371-4053

Investor relations inquiries:

John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670

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

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces that its common shares are now eligible for book-entry and depository services of the Depository Trust Company (“DTC”), to facilitate electronic clearing and settlement of transfers in the United States. World Copper currently trades on the OTCQB under the ticker symbol WCUFF.

DTC is a subsidiary of The Depository Trust & Clearing Corp. which manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling a security to be traded over a much wider selection of brokerage firms.

World Copper CEO, Nolan Peterson, stated, “Receiving the DTC eligibility for World Copper is an excellent step forward and will now allow the Company to facilitate the trading, and efficient electronic transfer, of our common shares for U.S. investors and brokerage firms. This not only allows for faster execution of trades and improved liquidity of our common shares, but will also help to broaden our US investors base.”

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects:  Escalones and Cristal in Chile, and Zonia in Arizona.  Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base.  The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp.  Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.

About Escalones

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes.  The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.  The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource.    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 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.

About Zonia

The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s.  The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

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, or to schedule a Zoom meeting with Management, please contact:

Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:

Nancy Thompson, Vorticom, Inc.
Phone: 212-532-2208 or 917-371-4053

Investor relations inquiries:

John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670

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

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, including entering into a Definitive Agreement, 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 NPV6%, IRR, estimated costs, 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, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, 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, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, 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, the Private Placement and the Consolidation 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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) is pleased to announce that further to its news release dated August 23, 2021, World Copper has filed on SEDAR a National Instrument 43-101 Technical Report (“NI 43-101“) for an updated mineral resource estimate for its Escalones copper project in Chile.

The NI 43-101 technical report is entitled “Mineral Resource Estimate for the Escalones Copper Project Santiago Metropolitan Region, Chile” (the “Technical Report“) and is dated October 6, 2021 and dated effective August 15, 2021. The Technical Report was prepared pursuant to NI 43-101 by Hard Rock Consulting, LLC. The Technical Report is available on World Copper’s SEDAR profile at www.sedar.com and is available on World Copper’s website at www.worldcopperltd.com.

ABOUT WORLD COPPER LTD.

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

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.

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

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

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

“Nolan Peterson”
Nolan Peterson
Chief Executive Officer

For further information, please contact:

Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:

Nancy Thompson, Vorticom, Inc.
Phone: 212-532-2208 or 917-371-4053

Investor relations inquiries: John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670

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

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 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. 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, statements as to the anticipated business plans and timing of future activities of World Copper, the ability of World Copper to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, 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.

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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces exploration results from the northern targets at the Escalones Copper project (“Escalones” or the “Escalones Project”). Over a one-month period in the first half of 2021, World Copper collected 440 samples from three targets north of the main deposit at Escalones as part of a rock sampling and mapping program, and the results outline two significant porphyry copper targets.

Key Points

– Surface sampling programme confirms two copper-porphyry targets and one skarn target to the northeast of the main Escalones deposit

– The Rio Negro target produced five samples grading over 1% Cu and multiple samples returning over 0.5% Cu. It is considered a priority porphyry copper target for future drill programmes.

CEO Nolan Peterson commented, “The results from our surface sampling program, carried out earlier this year at Escalones, confirm that Escalones has the potential for multiple significant copper porphyry deposits in addition to the main resource. Data from the sampling program will be used in the near future to plan out the next phases of our exploration at Escalones on the Mancha Amarilla and Northern Targets.”

The Northern Escalones Targets

Geochemical sampling and mapping has now been completed by World Copper on a cluster of three distal copper targets (the “Northern Targets”), located eight to ten kilometres north of the main Escalones deposit and within the 162 km2 Escalones land package. Field work at the Northern Targets confirmed the large anomalies are intense quartz-sericite, argillic and gossanous alteration of porphyritic and granitic intrusions, as well as skarn in volcanic and sedimentary units (Figure 1). The Northern Targets have significant potential, with surface alteration zones on the same scale as that of the main Escalones deposit. Ridge and spur character rock sampling at an average spacing of 200m has defined two porphyry centres that are now considered drill targets. Rio Negro is the primary target, with excellent copper mineralization at surface and will be the priority for further exploration. The eastern target, Argüelles Este, is larger and more deeply weathered, and more sampling will be carried out to determine its potential. Sampling of the third target, Argüelles, was limited, and further work programmes by the Company are expected to follow up on this work.

Rio Negro Target

The Rio Negro target is a 2x2km argillic and quartz-sericite alteration zone within dacite/monzonite porphyries intruding clastic sedimentary rocks. Copper oxide mineralization is most apparent in the centre of the alteration where multiple samples returned over 5000 ppm (0.5%) copper, with five samples returning over 1% copper (Figures 2 and 3). This central area covers an area 800x1000m and will be a focus of more detailed geochemical sampling and mapping this field season.

Argüelles Este Target

The Argüelles Este target is a very large argillic and gossanous alteration zone two kilometres southeast of Rio Negro. The geochemical anomaly generated by the sampling is roughly three kilometres in diameter. Sporadic anomalous copper and molybdenum occurs along the western third of the anomaly, where sandstone and interbedded gypsum horizons are intruded by coarse feldspar-porphyry dikes similar to those as the main Escalones deposit. Associated anomalous metals suggest a higher level of erosion in a more deeply weathered system compared with Rio Negro, so more of the lithocap is preserved. A large (one kilometre) central area of the anomaly remains to be sampled and mapped.

Argüelles Target

Extensive skarn and calc-silicate alteration form a rugged, high ridge almost three kilometres long at the Argüelles target. Sampling was restricted to the accessible bases of the ridge, where a few samples on the west side returned values >1000 ppm Cu with anomalous Mo and Ag. The focus at the Argüelles target is narrow, high-grade mineralization, and this target will require more detailed sampling to determine the significance of the results.

Sampling and Assay Procedures; Quality Control and Quality Assurance

Character rock chips were collected within a 4m diameter circle every 200m along a traverse, mostly along ridges and spurs when topography allowed, mostly from outcrop but in places from talus beneath inaccessible outcrops. For quality assurance and control, field blanks were inserted every 20 samples and field duplicates (resampling at the same location) taken every 20 samples. The 4m character sample field duplicates have a precision of ±44%. Two georeferenced photos of each sample were taken and used to verify to the extent possible the assay results, sample locations and general geology.

Sample bags were stored in rice sacks, secured with zip ties, and delivered to ALS Patagonia S.A. in Santiago, Chile. Multi-elements were assayed using the ME-MS61 package, which includes 4-acid digestion and ICP-MS finish; samples with >10,000ppm copper were re-assayed using method ME-OG62 with an ICP-AES finish. Gold was done by method Au-ICP21, in which a 30g sample is fire-assayed and finished with ICP-AES.

Readers are cautioned that surface sampling results reported here should be viewed primarily as a guidance for future exploration drilling. Surface sampling is prone to sampling bias and is not necessarily a reliable indicator of mineralization at depth.

Figure 1: Gridded 4m character rock sampling results over the northern targets. Typical porphyry deposits have elevated Au-Mo and depressed Zn-Mn over 1km in width.

Figure 2: Clockwise from top: view to the west over the Rio Negro target, Rio Negro sample running 1.34% Cu as chrysocolla and tenorite, Rio Negro copper oxide mineralization in dacite with quartz vein stockwork.

Figure 3: Thematic Cu map of 4m character rock samples, Rio Negro. The same anomalous samples have elevated Mo-Au, and depressed Zn-Mn, indicating porphyry-style mineralization.

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 on the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has laid claim to four copper porphyry targets, one with estimated resources, significant soluble copper mineralization, and exciting potential to expand the resource base.

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.

Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates you may 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.

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

“Nolan Peterson”
Nolan Peterson
Chief Executive Officer

For further information, please contact:	Henk van Alphen or Michael Pound Phone: 604-638-3665 E-mail: info@worldcopperltd.com
Media inquiries:	Nancy Thompson, Vorticom, Inc. Phone: 212-532-2208 or 917-371-4053
Investor relations inquiries:	John Liviakis, Liviakis Financial Communications Inc 415-389-4670

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

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 future work programmes involving the Northern Targets, 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.

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.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB:  WCUFF) announces that, further to its news releases of April 20, and June 9, 2021, it has entered into a definitive agreement (the “Arrangement Agreement“) with Cardero Resource Corp. (“Cardero“) and 1302172 B.C. Ltd., a wholly-owned subsidiary of World Copper (“Subco“), whereby World Copper and Cardero have agreed to combine their respective businesses by way of a plan of arrangement (the “Arrangement“), enhancing World Copper’s portfolio of copper mineral projects through the acquisition of Cardero’s Zonia copper oxide project located in central Arizona (“Zonia“).

Nolan Peterson, World Copper’s CEO stated, “The signing of the definitive agreement with Cardero is another milestone for World Copper and one that will bring significant value to our shareholders.  Our team sees upside potential at Zonia that has, to this point been unrealized, including a low-cost development and permitting path.  We will apply the same knowledge and expertise to Zonia, as we have to our Escalones property, and work to advance and de-risk the project going forward.” 

Commercial Terms

The Arrangement Agreement replaces and supersedes the previously announced letter agreement dated April 13, 2021, as amended (the “Letter Agreement“), between World Copper and Cardero (see news releases dated April 20, and June 9, 2021).  The Arrangement will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act (the “Act“) and must be approved at a meeting of the Cardero shareholders, which meeting is expected to be held on or before November 30, 2021 (the “Cardero Meeting“).  The board of directors of Cardero, with Robert Kopple and Hendrik Van Alphen abstaining, has unanimously resolved to recommend that its shareholders vote their securities in favour of the Arrangement.

Subject to acceptance of the TSX Venture Exchange (the “TSXV“), the parties have agreed to the following commercial terms, inter alia, for the Arrangement, all on the terms and subject to the conditions of the Arrangement Agreement:

1. Subco will amalgamate with Cardero and continue as one corporation under the Act, which corporation will be a wholly-owned subsidiary of World Copper.
2. The common shares of Cardero outstanding at the closing of the Arrangement (the “Closing“) will be exchanged for common shares of World Copper such that, upon completion of the Arrangement the current shareholders of World Copper will hold, collectively, 60% of the issued and outstanding shares of World Copper, and the former Cardero shareholders will hold, collectively, 40% of the issued and outstanding shares of World Copper (the “Exchange Ratio“), prior to giving effect to the Financing (as defined below).
3. The common share purchase warrants of Cardero outstanding at the Closing will be exchanged, on the basis of the Exchange Ratio, for common share purchase warrants of World Copper (the “Replacement Warrants“) entitling the holders to purchase common shares of World Copper.
4. The outstanding and unexercised stock options of Cardero at the Closing will be cancelled.
5. World Copper will assume certain debt of Cardero owed to Robert Kopple and/or entities associated with him (the “Kopple Entities“), in the aggregate amount of (i) approximately $2,329,163 in loans as at February 18, 2021, including interest accruing thereon; and (ii) approximately $1,019,836 in outstanding dividends on preferred shares in the capital of Cardero formerly held by the Kopple Entities at an interest rate of 8% per annum.
6. World Copper will grant to Robert Kopple 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 volume-weighted average offering price of all tranches of the Financing (as defined below), for an approximate estimate buy-out amount of $3.00 to $3.87 million.

In addition, upon the Closing, the board of directors of World Copper will be reconstituted such that two of its directors as of the Closing are nominees of Cardero.

In conjunction with the Arrangement and prior to the first anniversary of the Closing, World Copper will conduct a financing or financings (collectively, the “Financing“), in the aggregate gross amount of at least $10,000,000 (inclusive of the gross proceeds from the exercise of the Royalty Option), on the terms and at such price as World Copper may determine (see news release dated September 7, 2021).  The net proceeds from the Financing are expected to be used in connection with drilling programs on World Copper’s Escalones and Cristal projects, and for general working capital purposes.

Completion of the Arrangement is subject to the satisfaction of customary conditions precedent, including:  (i) the receipt of all necessary court and regulatory approvals, authorizations and consents, including by the Supreme Court of British Columbia and the TSXV in respect of the Arrangement; (ii) receipt of all necessary corporate and shareholder approvals by the parties; and (iii) there being no material adverse change in the business or operations of any of the parties from the execution of the Letter Agreement until the closing of the Arrangement; and (iv) that all representations and warranties of the parties will be true and correct as of the effective date of the Arrangement.  The Arrangement involves a Non-Arm’s Length Party (as defined in TSXV policies) insofar as Hendrik van Alphen, the Chairman of World Copper, is also a director of Cardero.

The Arrangement Agreement includes a non-solicitation, and a superior proposal provision on the part of both parties (subject to customary fiduciary-out provisions).  In the event of a superior proposal for either party, the other party has the right to either match such superior proposal or receive a termination fee in the amount of $250,000 if the other party terminates the Arrangement Agreement for the purpose of accepting the superior proposal.

Additional details of the Arrangement will be included in a management information circular of Cardero that is expected to be provided to Cardero shareholders via notice and access by October 15, 2021, in connection with the Cardero Meeting, and made available on SEDAR under Cardero’s profile at www.sedar.com.

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 resources of 15.6 million short tons grading 0.43% copper (129.3 million pounds of copper), Indicated resources of 61.4 million short tons grading 0.31% copper (380.6 million pounds of copper) and Inferred 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@6% of $225 million, and an internal rate of return (“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 World Copper or Cardero is available under their respective SEDAR profile available at www.sedar.com, and a copy of the Arrangement Agreement will be filed on each of World Copper and Cardero’s SEDAR profile.

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 a consultant of World Copper.

ABOUT WORLD COPPER LTD.

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

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.  The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource.  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 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.

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:
Henk van Alphen or Michael Pound
Phone:  604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:
Nancy Thompson, Vorticom, Inc.
Phone:  212-532-2208 or 917-371-4053

Investor relations inquiries:
John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670

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

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 Arrangement, that Cardero will hold the Cardero Meeting and deliver a management information circular to Cardero shareholders, that Zonia can be advanced utilizing low-cost open pit mining and heap leach, the results of the PEA, including, without limitation the NPV@6%, IRR, estimated costs, 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 Arrangement, 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 Cardero will obtain approval from its shareholders for the Arrangement, that the Company will obtain TSXV acceptance and the required court and corporate approvals for the Arrangement, 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, including on the Escalones and Cristal projects, 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 Financing, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Arrangement 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.

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces a non-brokered private placement (the “Placement”) of up to 10,000,000 units (the “Units”) at a price of $0.40 per Unit (the “Offering”) for gross proceeds of up to $4,000,000. Each Unit will consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.60 per share. The expiry of the Warrants may be accelerated if the closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) is equal to or greater than $1.00 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.

Insiders may participate and finders’ fees may be payable to arm’s length parties that have introduced the Company to certain subscribers participating in the Offering. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. Closing of the Offering is subject to the approval of the TSXV.

The net proceeds from the Offering are intended for exploration of the Escalones and Cristal properties in Chile and, general working capital.

The Company further announces that subject to the acceptance of the TSX Venture Exchange, it has entered into an agreement with Liviakis Financial Communications Inc. (“Liviakis Financial”) whereby Liviakis will provide investor relations services to the Company.

The agreement and a subsequent amending agreement, provides that Liviakis Financial will make available its Chief Executive Officer, Mr. John Liviakis, to provide investor relations services to the Company during the term of the agreement, for which the Company will pay to Liviakis Financial from its working capital a monthly cash fee of USD20,000. The term of the agreement is 36 months and can be terminated by either party after 12 months. Assuming that the contract runs its full term of 36 months, the Company will pay Liviakis Financial USD720,000 for investor relations services thereunder.

Liviakis Financial is based in San Francisco, California and has experience with providing investor relations services to junior public companies. The Company and Liviakis are at arm’s length.

This press 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 press 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.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp. Please refer to news releases dated June 9^th, 2021 and April 20^th, 2021 for more details and for the current status of the transaction.

About Escalones

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. 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 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.

About Zonia

The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

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”

NolanPeterson
Chief Executive Officer

For further information, please contact:

Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com

Media inquiries:

Nancy Thompson, Vorticom, Inc.
Phone: 212-532-2208 or 917-371-4053

Investor relations inquiries:

John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670

Follow Us:

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

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, including entering into a Definitive Agreement, 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 NPV6%, IRR, estimated costs, 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, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, 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, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, 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, the Private Placement and the Consolidation by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID19, including the impact of COVID19 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.