Kincora Copper Limited

Kincora Copper Limited

August 27, 2012 09:30 ET

Kincora Copper Announces the Appointment of Vice President of Corporate Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2012) - Kincora Copper Limited (TSX VENTURE:KCC) (the "Company" or "Kincora") is pleased to announce that Mr. Jonathan (Sam) Spring has been appointed as Vice-President of Corporate Development effective immediately.

Sam is formerly a Senior Mining Analyst with over 10 years financial services experience across various disciplines within the Goldman Sachs Group and Ocean Equities Ltd. Previous to this role, he had 5 years as a metals and mining research analyst covering, and providing advisory services, to the junior-mid cap sector, and was involved in the formation and funding of Kincora Copper in mid 2011. In 2009, he won the Association of Mining Analysts (AMA - UK) Equity Mining Analyst of the Year. Sam has a commerce degree from the University of Melbourne, is a Chartered Accountant (ICAA) and CFA Charterholder.

Sam is Kincora's second senior appointment following the commencement of Mr. John Rickus as the Company's new President and CEO (refer to the August 1st "Kincora Copper announces the appointment of new President and Chief Executive Officer" press release). John is the former President of Resolution Copper and has over 40 years' experience in the mining industry, including 24 years with Rio Tinto with six of those years as head of Technical Services and six years as a mining executive with the Rio Tinto Copper Group.

The appointment of John and Sam as executives comes at a time when Kincora is progressing a number of strategies with encouraging exploration results at its 100% owned Bronze Fox project. The current field seasons' drilling has successfully extended the large at or near surface lower grade oxide copper system of mineralisation at the West Kasulu prospect. Recent results have also intersected promising shallow sulfide mineralisation and significant higher grade copper in deeper sulfide mineralisation. Ongoing exploration has confirmed the potential for a deep high grade porphyry style copper deposit (refer to the August 7th "Kincora Copper intersects significant high grade copper at Bronze Fox and gold at Tourmaline Hills" press release). These results increase management's confidence that the ongoing exploration program could be reaching the edge of a large high grade copper and gold resource.

While Kincora's primary focus remains ongoing exploration and testing the potential for a high grade porphyry style copper deposit, the Company has undertaken internal analysis which has supported the appointment of an independent consultant to assess the potential of a first phase shallow oxide operation at the West Kasulu copper prospect. Drilling is continuing and working towards a maiden NI 43-101 resource that will support ongoing feasibility studies.

Kincora has begun initial exploration activities at one of the licenses acquired from Forbes and Manhattan in Apr'12, which is immediately to the east of the priority West Kasulu prospect. Partial assay results have returned thin intersections of promising gold mineralisation at the Tourmaline Hills prospect including: Hole F61 intersected one metre of 2.74g/t gold at 39 metres and 5 metres at 2.65g/t gold between 60-65 metres; Hole F51 intersected 6 metres @ 0.67g/t Au between 39-45 metres and 1 metre of 0.8g/t Au at 154m; and, Hole F59 intersected 14 metres @ 0.39g/t Au from 273-287 metres. Further core cutting and sampling is ongoing.

About Kincora Copper Limited

Kincora Copper Limited is a mining exploration and development company, based in Vancouver, and listed on the TSX Venture Exchange. Kincora's focus is on Mongolia, home to some significant mine developments and other major undeveloped copper-gold deposits. The Company's strength comes from a portfolio of key assets in Mongolia and a management team supported by experienced mining developers and years of background in Mongolia. These strategic assets, the Bronze Fox ( and Tourmaline Hills copper-gold deposits, are located in southeast Mongolia, 200km from the Chinese border, along the famed Oyu Tolgoi copper belt and approximately 140km northeast of the world-class Oyu Tolgoi copper-gold project.

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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