NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Vancouver, British Columbia – (January 4, 2018) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) announces that it has entered into an agreement to earn up to a 70% interest in six additional concessions in southern DRC Copperbelt. Bankers now has a total of 20 concessions with potential for cobalt and copper in the DRC and having a total area more than 297 km². Bankers now has one of the largest DRC exploration land packages held by a junior mining company.
The concessions are all located in the southern DRC Copperbelt. One of the concessions is contiguous to the Corporation’s Kankutu project and is also contiguous to the operating Kimpe cobalt and copper mine. Bankers exploration teams have been conducting work programs consisting of surface sampling, pits, trenching, and now geophysics at the Kankutu and Comima/Comipad projects and concurrently an ongoing drilling program at the Kabolela project.
Kevin Torudag, the President of Bankers DRC subsidiary stated, “The acquisition of interests in six additional concessions in the DRC Copperbelt shows our commitment to our plan for expansion and maintaining our lead in the junior mining sector for cobalt and copper in the DRC. It is also important to note that the acquisitions are the culmination of a relationship that has developed over two years. We will continue to assess and acquire additional properties to add to our land package.”
Bankers is a natural resource company focused on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC to world class Canadian standards. This will address the supply chain custody and verifiable sources of ore issue being imposed on processors in the DRC by consumers. Bankers holds rights to 20 separate mineral concessions strategically located in the southern DRC Copperbelt and having a total area more than 297 km². Bankers has the intention to acquire interests in additional concessions. All concessions were obtained as either new grants or through reputable DRC partners and have clean title with no government involvement, making Bankers one of the few, and perhaps only, junior public mining company in the DRC to have 20 concessions capable of being currently explored and developed. Bankers has an experienced operations team operating in the southern Copperbelt of the DRC. Bankers believes it is one of the front runners in advancing cobalt and copper exploration by a junior mining company in the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
President & CEO.
For further information:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction, the proposed closing the Transaction, and the outlook of the business of Katanga, including whether Katanga will be successful in developing and selling mineral resources. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction and associated transactions will differ from those that currently are contemplated, and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation’s due diligence and the receipt of tax, corporate and securities law advice for both the Corporation and Katanga. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Katanga, their securities, or their respective financial or operating results (as applicable).