Interra Copper Reports Further Anomalous Cathedral Main Zone Drill Results

Overview

As experts forecast an explosion in demand for copper and the reality of securing mines becomes increasingly difficult, the copper industry is on track to face a global supply gap ranging from 4.7 to 10 million tons by 2030.

Driven by the global shift towards environmental sustainability, the widespread adoption of renewable energy, electric vehicles and electric motors has catalyzed the growth in demand for copper materials used in its machinery. Overall demand for copper is estimated to increase by 12 to 15 percent. What does this mean? Canadian investors and mining companies may be sitting on a goldmine of opportunity — or, in this case, a copper mine.

Interra Copper (CSE:IMCX, OTCQB:IMIMF, FRA:3MX) is a Canadian mineral exploration and development company focused on exploring, identifying and acquiring copper and is dedicated to increasing shareholder value through the technical advancements of its assets. Led by a highly experienced management team, the company’s drilling exploration program is fully funded and will begin in July.

“We have identified high priority zones defined by IP chargeability highs with supporting copper and gold mineralization from both soil and rock samples, and we are excited to be able to test the depth potential of these targets by diamond drilling this summer,” said David McMillan, interim CEO of Interra Copper.

Producing more than 50 percent of the copper supply in Canada in 2019, British Columbia is arguably the most attractive market for copper in Canada. Interra Copper has focused all its efforts on its flagship Thane property, which is situated in the Quesnel Terrane region of British Columbia.

The Quesnel Terrane has an impressive past and planned production of 50 billion pounds of copper and 28 million ounces of gold. With relatively low exploration, the Thane property is near 16 productive and/or development stage mining projects which have historically produced significant yields. Third-party data identifying six mineralized areas suggests promising copper, gold, and silver contents in the 200 square kilometre property. The Thane property is fully owned by Interra Copper (subject to a one percent NSR).

Accelerating the process of obtaining reliable geochemical results, Interra Copper plans to utilize a portable XRF — a device that can immediately quantify and qualify elements in a sample such as copper — expediting informed planning regarding drilling expansion beyond its 8 already planned drill holes. Prioritizing in-depth analysis and thoroughness, Interra Copper will submit samples to ALS laboratories for additional multi-element and gold analysis. Streamlining its operations, Interra Copper also plans to deliver accurate sample results to investors in less than six months.

Interra Copper’s management team is well-primed for success given their experience and accomplishments in both the mining and exploration and the corporate sector.

Independent Director Jason Nickel is a mining engineer, investor, and entrepreneur with 25 years of experience. Nickel recently led the production and development of new underground and pit operations as Mine Manager for an emerging Canadian producer.

Chairman to the Board of Directors Gregory Hawkins is a certified professional geoscientist with 52 years of experience in the industry. Hawkins was previously responsible for the identification and/or delineation of 10 mineral deposits in multiple countries with seven deposits taken to production.

Director, President and Interim CEO David McMillan has been involved in the mining and finance industry for over 40 years. McMillan has held several directors and executive roles for both public and private companies.

Company Highlights

• Interra Copper’s flagship Thane project is located in the Quesnel Terrane region in British Columbia where past and planned production of copper is estimated at 50 billion pounds in the region.
• The Thane project, set to begin in July, is strategically located in an area of relatively low exploration and near multiple mines which have historically produced significant yields. Third-party data identifying six mineralized areas suggests promising copper, gold, and silver contents in the 200 square kilometre property.
• Interra Copper plans to use portable XRF machines to accelerate planning and decision-making regarding drilling sites.
• The Thane project is fully funded and fully owned by Interra Copper (subject to a one percent NSR).
• Interra Copper boasts an experienced management team with several decades of experience in mining, exploration and business and notable achievements in their respective industries.

Key Projects

Thane Property

The flagship Thane project is located in the Quesnel Terrane, a region rich in porphyry-style deposits, in British Columbia. The 206.58 square kilometre property is near 16 productive and/or developmental stage mining projects which have historically produced significant yields.

The Thane property has a history of relatively low exploration dating back to the 1970s. To date, six mineralized areas have been identified in the Thane property with copper and gold mineralization as high as 13.9 percent, 77.8 g/t Au along with silver as high as 56.4 g/t Ag found in each area, based on data reports from previous operators.

The project is set to begin with eight drill holes that will be 2,400 metres deep with drilling expansion and exploration plans already in the works.

Management Team

Jason Nickel — Chief Executive Officer

Jason Nickel holds a degree in Applied Science in Mine Engineering from the University of British Columbia and a post graduate diploma in business administration from Simon Fraser University. Jason brings 25 years of experience in Mine Operations, Engineering, Project Development and resource company management to Interra Copper along with a decade of corporate and junior resource markets focus. He is an experienced mining engineer, investor and entrepreneur with a diverse 25-year mining background in operations, engineering, feasibility and exploration/development of venture capital projects. Most recently, Nickel was a Mine Manager for a significant Canadian emerging producer, leading the production and development of new underground and pit operations. He has provided management and consulting services to the industry since 2008.

T. Gregory Hawkins — Chairman to the Board of Directors

T. Gregory Hawkins has worked in the mining exploration and investment industry since 1969. He has been variously responsible for the identification and/or delineation of 10 mineral deposits in Canada, USA, Chile, Ghana, Mali and Zäire (DRC), with seven deposits taken to production.

Christopher O. Naas — Director, Chief Operating Officer

Christopher O. Naas has over 34 years of experience in the mineral exploration field in Canada, the USA, South America and Africa and brings extensive experience in the supervision of mineral exploration programs that have successfully developed mineral resources from grassroots prospects.

Oliver Foeste — Chief Financial Officer

Oliver Foeste is the founder and Managing Partner of Invictus Accounting Group and brings over 10 years of financial reporting and executive experience across numerous industries including junior exploration and mining companies. Previously, Mr. Foeste has held senior management and executive positions in multinational and small capitalization companies listed in Canada and the United States.

David McAdam — Chairman of Audit Committee

David McAdam has over 30 years of finance and operations experience in large and small capitalization companies, where has been the financial lead in raising over $250 million in equity and securing over $100 million in debt. He has been the financial and/or operational lead in over 90 acquisitions, including the integration of the target companies.

McAdam has been the Chief Financial Officer of several public and private companies including a number of public and private BC-based mining companies (one a Vancouver based TSX company with producing assets in South Africa and public reporting across the TSX-AIM-JSE exchanges). Other sectors include for-profit provider of English as a Second Language training to foreign students (Executive advisory and Investor Relations), a Fortune 150 waste management/recycling company (VP Ops and Director of Finance).

Samir Patel — Independent Director, Chairman of Governance Committee

Samir Patel is a securities lawyer with over 11 years of experience in securities and corporate law, particularly in relation to M&A transactions, continuous disclosure requirements, corporate governance and equity financings.

He is currently General Counsel & Corporate Secretary at First Mining Gold Corp., a gold exploration and development mining company listed on the Toronto Stock Exchange, and has been with First Mining Gold since June 2016. Prior to that, he earned a Bachelor of Laws (Honours) degree from the University Nottingham in the United Kingdom.

David McMillan — Director

David McMillan has worked in the mining and financial markets for over 40 years. Since he retired from the securities industry in 2000, he has held numerous director and executive roles in public and private companies.

Gordon Neal — Independent Director

Gordon Neal is currently President of Neal & Company Consultants, having provided more than 30 years of capital markets and corporate governance advisory services to public and private companies. Neal & Company have raised more than $700,000,000 for companies across many sectors including precious metals, oil and gas, forestry and clean tech industries. From August 2017 to March 2021, Gordon was President of New Pacific Metals Corp, with prior positions as VP Corporate Development at Silvercorp Metals, and for 9 years was VP Corporate Development at Mag Silver Corp. in the 1990s, Gordon was also the founder and president of Neal McInerney Investor Relations, which at the time, was the second largest investor relations firm in Canada.

Janet Francis — Corporate Secretary

Janet Francis has over 15 years of experience in the field of regulatory compliance and corporate governance. She has served as a director or officer of several public companies listed on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange in the technology, education, and mining sectors. She is the principal of a corporate secretarial firm providing services to publicly listed companies, reporting issuers, and companies seeking to go public.