Crown Mining Corp. Completes Purchase of Moonlight Property
New ws Release
Cro own Mining C Corp. Comple etes Purchase e of Moonligh ht Property
March 13 3, 2018 ‐ TORONTO, ONT TARIO‐ Crown n Mining Cor rp. (TSX VEN NTURE:CWM) (“Crown” or r “the Company”) is please nce that it has exercised its option t nd completed the ed to announ to acquire an purchase of a 100% un operty (the “Property”) lo ndivided right t, title and int terest in its M Moonlight pro ocated in Plumas s County in no ortheast California, USA.
The optio on agreement t was entered d into with C Canyon Coppe er Corp in February 2016 (see press re elease dated Feb bruary 29, 2016) providing g the Compan ny with the op ption to acqu uire the Prope erty at any tim me on or before the 36‐mont e agreement, from th anniversar ry of the agre eement. Pur rsuant to the terms of the e closing of the acquisition, total cash consideration of $375,000 was the date o of the agreem ment until the paid by th he Company to the vendo ors along with h 2,750,000 s shares of Cro own issued to
- the vendors s. The
final paym ment of $350 0,000, which is included in n the total ca ash considera ation of $375 5,000, was pa aid by Crown in nto escrow o on February 26, 2018 p pending com mpletion of t the recording g of the tra ansfer document tation.
The Moon mately 4000 acres nlight proper rty consists o of 208 unpate ented mining g claims cove ering approxim subject to
- an underlyin ng 2.5% net smelter return ns royalty. All l claims have been transfe erred to Crow wn and
recorded in Crown’s na ame at the Bu ureau of Land d Managemen nt and in the Plumas Coun nty records of ffice.
Other Rec cent News ab bout Crown
Crown just recently re ed by eleased the results of a Preliminary E Economic Ass sessment (“P PEA”) prepare Tetra Tech Inc on Marc ch 2, 2018 reg garding the C Company’s Mo oonlight Copper Project.
The PEA w was prepared d pursuant to
- National Instrument 43‐ ‐101 standar rds by indepe endent consu ultant,
Tetra Tech Inc., and the full technical report will be filed on SEDAR within 45 days of th his news relea ase.
The full news release c can be found on both the company’s w website at ww ww.crownminingcorp.com or on www.sedar.com under r the Crown M Mining Corp. profile.
About Cro own Mining C Corp.
Crown controls approx ximately 15 square miles o of patented a and unpatent ted federal m mining claims in the Light’s Cre eek Copper D District in Plum mas County, NE California; essentially, the entire Di istrict. The D District opper (silver) sulfide and copper oxide resources in three deposits – Moon contains s substantial co nlight, Superior a and Engels, as s well as seve eral partially t tested and un ntested explo oration target ts.
The Superior and Enge els Mines operated from about 1915‐1 1930 producing over 161 million poun nds of copper fr rom over 4 million tons of rock containing 2.2% % copper with silver and gold credits
s. The s discovered and drilled by Moonlight Deposit was x during the 1 y Placer Amex 1960’s.
Further details of the r resources on Crown’s property and the e parameters s used to calc culate them c can be found in the Technica al Report on the Superior r Project dat ted Novembe er 7, 2014 fil led on Sedar r.com. Additiona al historical re esource estim mates are also disclosed in these reports s.
Mr. George Cole is the Qualified Person pursuant to NI 43‐101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corp. (416) 361‐2827 or email [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward‐looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward‐ looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward‐looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward‐looking statements.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.