TSX.V: COCO
VANCOUVER, BC, Aug. 31, 2026 /CNW/ -- Coast Copper Corp. ("Coast Copper" or the "Company"; (TSXV: COCO) is pleased to announce that it has entered into an agreement to purchase a mineral tenure covering prospective ground (the "Asset Purchase Agreement") adjacent to its 100% owned Copper Kettle property ("Copper Kettle"; see Figure 1) from an arms-length individual (the "Vendor"). Details of this purchase are noted below. In addition, the Company also announces that it has completed field work on its 100% owned Anyox Area projects, Toodoggone projects and its Knob Hill NW property. Additional field work in the coming weeks is being planned on the Company's 100% owned Sully, Rock Canyon South and Rock Candy North properties, all located in the Kootenay area, and its Scottie West property located in the Golden Triangle, BC.
Adam Travis, CEO comments: "We are pleased to be able to add prospective ground on trend of our Copper Kettle property and adjacent to BHP's Island Copper mining lease and Northisle Copper and Gold. While continuing to complete advanced geological modeling of Copper Kettle (see news release May 7, 2026), we have completed geophysical and sampling programs on some of our non-core British Columbia assets and continue to monitor the large programs being undertaken by our neighbours including Northisle, Scottie Resources, Goliath Resources, TDG Gold, Surge Copper, Imperial Metals, Rokmaster Resources and PJX Resources. Where appropriate, we intend to monetize selected non-core projects in a manner similar to our past deals such as vending Borealis to Hi-View Resources and Ben Nevis to Talisker Resources while maintaining our focus on advancing our flagship assets."
Asset Purchase Agreement
- Coast Copper will issue the Vendor 300,000 common shares of the Company at a deemed price of $0.345 Canadian ("C") per share, representing aggregate deemed consideration of C$103,500. No cash consideration or exploration expenditure commitment is required.
- Coast Copper will grant the Vendor a 2% net smelter return ("NSR") royalty over the purchased claim. The NSR royalty will not apply to portions of the claim where another mineral interest has priority with respect to production, including the senior mining leases associated with the former Island Copper mine1.
- Coast Copper may reduce the NSR royalty from 2% to 1% by paying the Vendor C$1,000,000. Coast Copper may further reduce the NSR royalty from 1% to 0.5% by making an additional payment of C$2,000,000.
The common shares issued to the Vendor will be subject to applicable statutory and TSX Venture Exchange resale restrictions. Closing is subject to customary closing conditions, including but not limited to, approval of the TSX Venture Exchange. No finder's fee is payable in connection with the transaction.
Copper Kettle Modelling Update
Coast Copper is advancing geological and copper-equivalent exploration-target modelling for the Copper Kettle property. This study is progressing well and is being refined through ongoing technical review.
Completion of the modelling is expected in the coming weeks, subject to receipt, validation and integration of all available information and final quality-control review and approval by the Company's Qualified Person. Any future disclosure of an exploration target range will include the cautionary language and supporting information required by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
First Nations Engagement Update
On July 27, 2026, Coast Copper received Notice of Work Permit No. 2000708 from the BC Ministry of Mining and Critical Minerals, authorizing geophysical surveying and diamond drilling on portions of the Copper Kettle project. The Company is currently engaged with two First Nations whose asserted interests are associated with the Copper Kettle project area, and is making good progress toward completing a memorandum of understanding, or an equivalent working framework, with each.
Engagement to date has included meetings addressing the proposed exploration program, environmental and cultural-heritage protection, emergency preparedness, project communications, and practical arrangements to support each Nation's ongoing participation as the Copper Kettle project advances.
As part of this collaborative approach, the Company has adjusted certain field activities in specific areas while these discussions continue and expects to begin its permitted work plan in those areas as the respective frameworks are finalized. No memorandum of understanding has yet been executed as of the date of this release. Coast Copper looks forward to continuing this work and will provide a further public update as the frameworks with each Nation are finalized or if a material development occurs.
Nation-Specific Engagement
Coast Copper's engagement with each Nation is bilateral and Nation-specific. References in this release to areas of interest or engagement activities are made solely for engagement and project-planning purposes and should not be interpreted as defining, determining or prejudicing any Aboriginal rights, title, treaty rights or territorial interests of any Nation, including in areas where interests may overlap.
The Company's engagement activities support, but do not replace, the Province of British Columbia's consultation responsibilities.
About Coast Copper Corp.
Coast Copper Corp. is a British Columbia-focused mineral exploration company advancing district-scale copper and precious metals opportunities through disciplined capital allocation. The Company's flagship assets include the Copper Kettle copper-gold-molybdenum project on northern Vancouver Island, the Empire Mine copper-gold project and the Virginia Silver and Sweeney silver projects. Coast Copper also maintains a portfolio of earlier-stage exploration properties that provide opportunities for strategic partnerships, asset sales and option agreements designed to generate capital while minimizing shareholder dilution.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director
NR26-13
Cautionary Notes in News Release and/or Maps
- This news release may contain information about adjacent properties on which Coast Copper has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements
SOURCE Coast Copper Corp.
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