Option Agreement To Acquire Stateline Property - Border Of Colorado And Utah

VANCOUVER, BC - Allied Copper Corp. has signed an option agreement for the sole and exclusive right to acquire a 100% undivided legal and beneficial interest for the Stateline Property, CO/UT, from Cloudbreak Discovery Plc, Cloudbreak Discovery Canada and Alianza.

Warner Uhl Executive Chairman, said, “The acquisition of Stateline is a significant milestone in that it rounds out a well-planned acquisition schedule. Located 8km (5miles) south of the prolific producing Lisbon Valley Copper Mine, the team targeted the Stateline acquisition for it’s [exploration upside in a well-established basin]. The Stateline, Silver King (SK) and Klondike Properties all have the potential to become strategically located producing copper mines in a tier one jurisdiction. Our focus now turns to an extensive exploration campaign across the portfolio of assets being conducted in Q2 and Q3 of 2022. Lisbon Valley Copper has the capacity to produce 54 million pounds of annual copper production.

The Company looks forward to embarking on our exploration programs for each property and is actively working on implementing our plans. With the projected copper production shortfalls and the electrification and EV revolution well upon us, copper demand will continue to rise. The shifts and catalysts that drive the demand for copper are significantly outstripping the current supplies. Copper supply needs to be replenished with new discoveries and ultimately new mines. Allied Copper Corp. will continue to be very active for the remainder of 2022.”