SOURCE: Copper King Mining

June 23, 2009 11:01 ET

Copper King Announces High-Grade Drilling Results for the Road Project

Mineralization at Shallow Depths; Open in All Directions; Intervals Grade Up to 19% Copper

MILFORD, UT--(Marketwire - June 23, 2009) - Copper King Mining Corporation (PINKSHEETS: CPRK) ("Copper King" or the "Company") provided an update today on its recent drilling at the Road Project, on both sides of the road between the Company's Hidden Treasure Mine and the Company's newly-completed mill. A total of 53 drill holes have intersected at least 15 feet of mineralization grading greater than 1.5% copper at shallow depths, and an additional 43 have intersected at least 15 feet of between 0.5% and 1.5% copper. The average ore intercept is 35 feet per drilled hole. Mineralization was identified over a length of 1,200 feet. The Company believes that this length will increase as extension holes are drilled. Drill hole spacing has ranged from 200 to 50 feet. Most of the mineralization drilled to date lies at depths of less than 300 feet, though the mineralization is still open at depth in many areas drilled. The table below summarizes selected drill intercepts and grades encountered to date on the project.

The Road Project lies east of the Copper Ranch Project area, and was first discovered by shallow drilling beneath the alluvium at the side of the road. Ongoing drilling is conducted using two drill rigs owned by the Company, and the mineralization is open in all directions. A geophysical survey also shows a magnetic anomaly, similar to those found in other areas of mineralization, lying to the southwest over a length in excess of 1,600 feet.

The Company also announces that it has taken, along with its wholly-owned subsidiary, Western Utah Copper Company ("WUCC"), all corporate action necessary to complete the conversion of WUCC into corresponding shares in Copper King, thus completing the final step in the merger of WUCC into Copper King. The former individual shareholders of WUCC will be receiving their shares in Copper King as soon as final transfer agent documents are completed. It should be noted that these shares are already included in the current authorized and outstanding totals and results in no further dilution.

The Company also reminds interested parties that the new website address is www.WUCCompany.com.

            SELECTED DRILL HOLE INTERVALS

HOLE #  INTERVAL     DEPTH FROM      DEPTH TO   COPPER
------  --------     ----------      --------   ------
30/74   15'                  90           105     4.12%
        50'                 130           180     2.18%
30/75   75'                 140           215     4.30%
52/29   55'                 170           225     4.00%
63/30   45'                 165           210     3.63%
        includes 5'                              19.40%
72/41   95'                 105           200     2.58%
73/41   35'                  65           100     1.90%
        40'                 130           170     3.50%
73/74   75'                 105           180     2.70%
73/83   45'                  80           125     2.90%

"We are excited to report the drilling and discovery of new, shallow high-grade mineralization so close to our mill," said Mark D. Dotson, President and CEO of Copper King. "We believe that the ongoing drilling, together with ramping up production at the mill, will add to our strength and provide additional growth for the Company. Drilling at the Road Project represents one component in the Company's plan to methodically explore its mining claims in the large area in the Milford Mineral Belt. Our plan is to continue to explore the upside potential of the entire Milford District."

About Copper King

Copper King controls over 59,000 acres of advanced-stage and development-stage mineralized acreage in Western Beaver County, Utah. The Company is ramping up production at a 5,000 ton per day capacity flotation mill for processing high-grade ores from its Hidden Treasure copper-gold-silver mine and other controlled properties under its control. Copper King is led by an experienced management team focused on exploration and production using traditional and new technologies.

This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to commence production, our plans to drill or our drilling results to fail to materialize: general world economic conditions; availability of capital; unfavorable geologic conditions; the complexity of exploration and production; prevailing prices for commodities, and general regional economic conditions. Copper King assumes no obligation to update the information contained in this press release.

Contact Information

  • Contact:
    Investor Relations
    Charles A. Moskowitz
    617-633-2259
    Email Contact