Gespeg Copper Resources Inc.
TSX VENTURE : GCR

Gespeg Copper Resources Inc.

October 18, 2017 13:00 ET

Gespeg Closes First Tranche of Non-Brokered Private Placement

SASKATOON, SASKATCHEWAN--(Marketwired - Oct. 18, 2017) -

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GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the "Company" or "Gespeg") announces that it has completed the first tranche of its private placement (the "Offering") and has raised gross proceeds of $94,000. The first tranche closing consisted of 733,333 units (the "Units") at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of one share purchase warrant (a "Warrant"). Each full Warrant will entitle the holder to purchase one Share at a price of $0.10 exercisable until October 17th, 2020 and 624,750 flow-through shares (the "FT Shares") at $0.08. A finder's fee will be paid to Raymond James Ltd. for the amount of $2940.00 and 37,188 broker warrants issued at a price of 0.10 exercisable until April 17th, 2019. The Company anticipates a second closing in October 2017 (the "Second Tranche").

The proceeds of this first tranche will be for the drilling program on Tetrault 1, Tetrault 2, and Anacon Lead 2 tailings projects situated in the Notre-Dame de Montauban region.

Mr Vincent Jourdain of MRB & Associates has been retained to execute the NA 43-101. Mr. Jourdain already executed the NA 43-101 on Anacon 1 tailing project in 2012. Mr.Jourdain has done his Master degree and a PhD on the Montauban deposit and also worked several years for different mining companies in the sector.

About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus on copper, especially in a grossly underexplored region "Gaspé, Québec". With a dedicated management team, the Company's goal is to create shareholder wealth through the discovery of new deposits.

GESPEG COPPER RESOURCES INC.

(signed) "Sylvain Laberge"

FORWARD LOOKING INFORMATION

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

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