Hornby Bay Files Claim Against Copper Mountain

(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/28/16 -- Hornby Bay Mineral Exploration Ltd. ("Hornby") (TSX VENTURE: HBE) announces that it has filed a claim in the Supreme Court of British Columbia against Copper Mountain Mine (BC) Ltd. ("Copper Mountain") related to Copper Mountain's failure to pay Hornby's five percent (5%) net smelter returns royalty (the "NSR") covering part of the Copper Mountain Mine. The claim requests special damages for non-payment of due royalties and general damages for breach of contract.

The NSR covers approximately 4,000 acres (1619 ha.) or approximately 22.3% of the 18,000 acre (7284.34 ha.) property comprising the Copper Mountain Mine, which is a joint venture between Copper Mountain (which owns a 75% interest) and Mitsubishi Materials Corp. (which owns a 25% interest).

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

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.



Contacts:
Chris Irwin, Secretary
(416) 361-2516

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Bereitgestellt von Benutzer: Marketwired
Datum: 28.07.2016 - 16:58 Uhr
Sprache: Deutsch
News-ID 486105
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TORONTO, ONTARIO

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Mining & Metals

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