Kincora Copper Limited

Kincora Copper Limited

February 27, 2014 06:30 ET

Cameron McRae Appointed to Kincora's Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2014) - Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) is pleased to announced the appointment of Mr. Cameron McRae to Kincora's Advisory Board.

Mr. McRae was most recently President and Chief Executive Officer of Oyu Tolgoi, Rio Tinto's Country Director for Mongolia, and has over thirty years of mining industry experience. He has broad experience across multiple mineral sectors, held three CEO positions of operating mining companies, led successful M&A projects and was involved in the landmark merger of RTZ plc and CRA Ltd that created the Rio Tinto Group. In his last role Mr. McRae oversaw over US$6 billion investment and the successful commencement of commercial production from Oyu Tolgoi, a world-class copper porphyry deposit. Mr. McRae was responsible for all aspects of the project including safety, strategy, operations and growth initiatives.

Mr. McRae will assist management and the Board of Kincora with stakeholder relations (including Government, industry, community, and social groups), discussions with investors (including potential strategic groups), and provide general advice (including continued exploration, potential development and M&A activities), as the Company looks to advance activities at its wholly owned Bronze Fox copper porphyry project.

Kincora recently announced some highly encouraging results from one of the most active copper exploration programmes in Mongolia during 2013. Bronze Fox is one of the most advanced, prospective and youngest exploration licenses in the South Gobi copper porphyry belt, located approximately 140km along the Oyu Tolgoi mineralisation trend and 40km from Tsagaan Suvarga.

Mr. McRae who remains based in Mongolia, has today been appointed Executive Chairman to SkyPath Partners LLC, an advisory, strategic consulting and principal investment firm based in Ulaanbaatar. Mr. McRae will be a foundation director of a new Mongolia institute liaising with the business associations and the Government of Mongolia in the development of the nations business environment and policy.

Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said:

"We are very excited to have Cameron join us and being able to benefit from his extensive experience, relationships and networks in the industry, particularly those built overseeing Oyu Tolgoi, the largest single mining investment project in northeast Asia, and in his recently appointed positions. We believe Cameron will complement our existing teams skill set, in-country networks and proactively add-value as we look to advance our Bronze Fox copper project.

Cameron McRae commented:

"Kincora's team and activities provides a unique opportunity and natural fit for me. I am enthusiastic to be assisting in the continued advancement of the Company's activities in Mongolia and copper prospects in the South Gobi region. Bronze Fox is possibly the most advanced and prospective exploration project in that region with a strong existing team in place."

The Company will grant to Mr. McRae, in accordance with the Company's stock option plan and ensuring a portion of compensation is consistent with Kincora's long-term success, options to purchase up to an aggregate of 725,000 common shares exercisable on or before February 27th, 2018 at a price of $0.105 per share.

Kincora at PDAC

Kincora is pleased to announce it will be attending PDAC in Toronto this upcoming March 2nd to 5th at booth number 2903.

The Company notes the Mongolia @ PDAC conference being held at the Hyatt Regency on King Street on the afternoon of March 4th with participants including the Minister of Mining, Mr D. Gankhuyag and Mr McRae, amongst others. Refer to the North America - Mongolia Business Council website for registration details:

About Kincora Copper Limited

Kincora Copper Limited is a junior resource company engaged in the acquisition, exploration and development of mineral properties with a focus on copper/gold projects in Mongolia.

Kincora's ambition is to be the leading listed independent copper exploration and development company in the highly prospective and proven Oyu Tolgoi South Gobi porphyry copper belt in southeast Mongolia. The Company is exploring it's wholly owned Bronze Fox project which hosts an extremely large and strategically located mineralized footprint covering over 40km2 within a 223km2 licenses area. Analysis has confirmed a fertile arc for porphyry style deposits with extensive lower grade copper-gold mineralization, with localized areas of higher grade, intersected in many drill holes over the last three years, and localized higher grade, across a 7km strike (open).

Kincora recently completed one the most active copper exploration programmes in Mongolia during 2013, on one of the most advanced and prospective projects with one of the youngest exploration licenses. Preliminary results of the Induced Polarization ("IP") geophysical programme coupled with internal and independent interpretation of geology and drilling results provides a number of high priority large, potentially world-class size, copper-gold porphyry targets.

The Bronze Fox project is situated only 250km from the Chinese border and ~140km along Oyu Tolgoi mineralization structural corridor and ~40km from Tsagaan Suvarga (with potential cross cutting faulting). The immediate region is one of the most rapidly developing mining centres anywhere in the globe despite being one of the last underexplored frontiers and a productive copper porphyry belt.

Porphyry deposits seldom occur in isolation with the South Gobi's geology and tectonic setting highly prospective for large size discoveries. Oyu Tolgoi ("OT"), has invested capital to date +US$7bn with current production of 100,000t/day of ore ramping up to potentially 160,000t/day. Tsagaan Suvarga, with an estimated capex of US$1bn and a target production of 40,000t/day, with OT, is one of two greenfield construction projects that are expected to enter initial production within a 3-year construction period, a proximity unlikely to be achieved within a comparable region anywhere else in the world in the near-medium term.

A number of analogies between the current stage of exploration and results at Bronze Fox and OT in 2000/01 pre "discovery hole" (OTD150: 508m @ 0.81% Cu & 1.17g/t Au) period have emerged. The aim of the 2013 field season was to add value at the asset level while remaining comfortably funded by both refining existing exploration data and specifying target generation of large scale, potentially world-class size, porphyry copper-gold targets. Cash balance of C$1.65m (30th Sep'13) supports at least minimum expenditure requirements for 2014. Efforts to recover Golden Grouse licenses, Tourmaline Hills and North Fox, following recent revocation, as part of a total of 106 licenses, have commenced.

The Company is listed on the TSX Venture Exchange, was formed in mid 2011, with its head office located in Vancouver, Canada, and a regional office in Ulaanbaatar, Mongolia.

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.

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