Kincora Copper Limited

Kincora Copper Limited

February 11, 2015 06:00 ET

Kincora Copper: Final Competitive Tender of C$7M Disputed Licenses

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 11, 2015) - Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) wishes to provide an update following the second and final tendering of the former two licenses held by its wholly owned Golden Grouse subsidiary that were revoked as part of the 106-license dispute and resulted in a C$6,952,000 impairment in our September 2013 financial statements, the vast majority of which was recognized as a credit by the Government of Mongolia in the concluded competitive tender process.

Following due process and as specified in the competitive selection process, the said licenses were tendered with no third party bids received. Following a final administrative review and process it is expected that MRAM will provide Kincora the election to regain both licenses as new with a full 12-year term.

Kincora will continue to inform the market of progress relating to our former Golden Grouse licenses and after a two-year period of uncertainty looks forward to the final conclusion of our dispute.

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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