Copper Ridge Explorations Inc.
BERLIN : 502845

Copper Ridge Explorations Inc.

June 05, 2009 08:50 ET

Copper Ridge to Sell Interest in Four Gold Projects to Golden Predator

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2009) - Copper Ridge Explorations Inc. ("Copper Ridge" or the "Company") (TSX VENTURE:KRX)(PINK SHEETS:CRXOF)(BERLIN:502845) announces that, further to its news release of May 29, 2009, it has signed a Letter Agreement with Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) ("Golden Predator") whereby Golden Predator will acquire Copper Ridge's interest in the Scheelite Dome, Ogopogo and Willoughby gold projects. Copper Ridge will also assign its opportunity to acquire the Quitovac gold project in Mexico, for which it is in the final stages of negotiation.

The consideration payable by Golden Predator to Copper Ridge is $750,000, to be paid in units of Golden Predator at a deemed price of $0.50 per unit. Each unit will consist of one share of Golden Predator and one non-transferable warrant. Each warrant will be exercisable for one share of Golden Predator for a period of two years at a price of $0.75 for the first six months and $0.90 for the remaining 18 months. The number of units is adjustable under certain circumstances. In addition, should any of the properties become the subject of a positive bankable feasibility study ("BFS") prior to December 31, 2011, then up to 500,000 shares of GPD will be payable to Copper Ridge capped at $1,000,000 in value, if a BFS is delivered from January 1, 2012 through December 31, 2013 this cap will be raised to $1,500,000, if delivered from January 1, 2014 through December 31, 2015 it will be raised to $2,000,000, and it will be raised to $2,500,000 per project thereafter. In addition Copper Ridge has retained a 1% NSR on the Willoughby project and if secured, the Quitivac project, and a 2% NSR on the Ogopogo project which will be reduced to a 1% NSR in the event of a US federal production royalty.

The agreement is subject to a number of conditions precedent, including regulatory approval, the completion of the private placement described in Copper Ridge's news release dated May 29, 2009 and, in the case of the Quitovac project, completion of that acquisition by Copper Ridge.

Copper Ridge will focus its exploration efforts on base metal projects, in particular copper-gold and zinc, with its portfolio of 8 projects, including:

Clear Lake Zn-Pb-Ag, Yukon: Clear Lake is a pyritic zinc-lead-silver massive sulphide deposit, sigmoidal in shape, approximately 1,000 m in length and up to 120 m wide. Zinc-lead rich lenses are 5 to 30 m thick, 450 m in length and extend at least 300 m down dip. The Company is considering a surface geophysical exploration program to be followed by a drilling program designed to upgrade the current historical Clear Lake resource to NI 43-101 standards and to test three of the highest priority adjacent exploration targets.

Babine Cu-Au-Mo, B.C.: The Babine porphyry copper-gold project includes the Nak and Dorothy deposits, located in the Babine copper-gold porphyry belt that includes the Bell and Granisle mines, the Morrison deposit and numerous undeveloped prospects. The Bell and Granisle mines together produced 130 million tonnes of ore grading 0.4% copper (Cu), 0.15 g/t gold (Au) and 0.75 g/t silver. The Company plans a surface exploration program to further define targets identified during its 2007 and 2008 programs.

Lucky Joe Cu-Au, Yukon: The Lucky Joe project hosts a unique style of copper-gold mineralization, with similarities to Capstone's Minto Mine - possibly a gold-rich copper porphyry or an Iron Oxide Copper-Gold (IOCG) deposit type. Soil anomalies and a correlation with linear magnetic anomalies indicate a large aerial extent of potential mineralization while geological observations suggest that the mineralization is near surface, with a strong correlation between gold and copper. Further soil surveying and surface geophysical programs are planned for 2008 to prepare the Ryan's Creek zone for drilling.

Yukon Olympic Cu-Au, Yukon: The target at Yukon Olympic is an Olympic Dam-type iron oxide copper-gold (IOCG) deposit. Mineralization, alteration and age of the host rocks and the mineralized breccia are similar to the giant Olympic Dam deposit in Australia.

Kalzas W, Yukon: Kalzas is a large, porphyry style tungsten deposit with a higher grade core zone. The tungsten mineral wolframite occurs in sheeted veins, stockworks and disseminations within altered Proterozoic schist and quartzite.

Borealis U, Yukon: The Borealis uranium project covers the Deadman Stock, a mid Cretaceous multiphase granitic unit of the Tombstone Suite intrusive complex. Uranium mineralization is associated with a late stage phase of syenite dykes within the stock and occurs as structurally controlled lenses of pitchblende and as disseminations of uraninite within the syenite.

Copper Ace Cu-Mo, B.C.: The Copper Ace copper porphyry properties surround the Gibraltar Mine. Drilling has shown that the "mine series" tonalite extends from the Gibraltar area onto the Copper Ace South property.

Joss'alun Cu, B.C.: Copper mineralization at Joss'alun consists of a series of lenses of semi-massive chalcopyrite with lesser pyrite within basaltic oceanic volcanic rocks, in a geological environment that appears to be favourable for Cyprus-type volcanogenic massive sulphide mineralization. Samples collected within the discovery area included 7.33% copper over 35 cm, 3.35% copper over 90 cm and grab samples of 7.34% copper, 10.15% copper and 7.55% copper.

Mr. J. Greg Dawson, P.Geo., Vice President of Exploration for Copper Ridge, is the Qualified Person for the above projects and is responsible for the technical content of this news release. Further information on Copper Ridge's entire exploration portfolio can be found at

Copper Ridge's exploration philosophy focuses on maximizing the potential for success in a high-risk business. With grass roots mineral exploration, where the entry cost is low but the potential reward can be very high, success will be contingent on exploration skill and on carefully managed risk. Our management team brings tenacity, technical skill and experience, all crucial ingredients for discovery. By exploring a broad array of projects, focusing on the right commodities, in areas of high mineral potential and in mining-friendly jurisdictions and by sharing the risks on some projects with joint venture partners, the Company is exposing its shareholders to a greater chance for discovery.

This release was prepared by management of the Company who takes full responsibility for its contents. Neither 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.

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