TORONTO, March 11, 2025 /CNW/ - CUPANI Metals Corporation ("CUPANI" or the "Company") (CSE: CUPA) is pleased to announce certain recent activity.
Exploration update from February expedition
An exploration and logistics team of six people deployed from Labrador City to the Retty Lake exploration camp, via Schefferville in February. Retty Lake camp is located on the western shore of Retty Lake and is a central location for each of the five exploration zones contained within CUPANI's Blue Lake project. Blue Lake project covers more than 500 square kilometres of northern Quebec and is known to contain copper, nickel, platinum, palladium and gold. The expedition's route from paved road in Labrador City to the camp measured over 300 kilometres. Entirely self supported and travelling only by snowmobile the expedition made the following accomplishments:
1) reopened the ice road route which had carried heavy mining equipment from Schefferville to Retty Lake camp. Reportedly that road was last used in 1987 during construction of a mining camp with an adit for 2,000 tonne bulk sample conducted under a special mining lease. The ice road is one of several routes opened during the expedition. Figure 1 shows all routes travelled in yellow. Each of CUPANI's five exploration zones was reached, these routes were all tracked using the global positioning system and may become the basis for application to prepare summer trails within the exploration zones. On a regional basis the unimproved clear ice depth on lakes, including Lake Attikamagen averages 90 centimeters. That figure, including figures taken on Knob Lake in Schefferville match to the historical data reported here. Ice road experts suggest that ice depth can be more than doubled by an ice road build and maintenance program.
2) winterizing the Retty Lake camp and operate it for the coldest week of winter. The expedition team used two of the seven camp buildings. One building has been outfitted with thermofoil insulation, propane stove with oven, and room heaters. In addition to using snow as a blanket for the building, the expedition maintained a constant 21 degrees Celsius temperature. It is now possible to reach, and operate from, the Retty Lake camp year-round. The company will consider deployment of geophysics teams later this winter.
3) this expedition conducted exploration activity at both the Extensions Zone and the Cancun Zone. A reconnaissance traverse by snowmobile was conducted to search for outcroppings of the peridotite sill at the Extensions Zone. Channel sampling by use of a powered rock saw was conducted at Cancun Zone. That channel sampling was conducted immediately underneath where chip sampling was conducted in September 2024, within the hand dug trench. Using the saw, samples were taken at each of 2,4,6,8 and 10 inches below surface to study the copper equivalent grade and to test the grade below the weathered surface. Figure 2 shows fresh, unweathered massive sulfides in the 10 inch-depth channel sample at its preparation stage prior to shipment for laboratory assay.
Insider buying: Early Warning Report Filed Pursuant To National Instrument 62-103
Mr. Douglas MacQuarrie announces that, directly and indirectly, he has acquired (the "DM Acquisition") a total of 335,000 common shares (each, a "Share") of the Company. Prior to the DM Acquisition, Mr. MacQuarrie, a Director of the Company, directly and indirectly, held 21,247,200 Shares and securities that entitle him to acquire 400,000 Shares. Upon DM Acquisition, he has control and direction over an aggregate of 21,582,200 Shares and 400,000 convertible securities, representing approximately 18.11% of the issued and outstanding Shares and approximately 18.39% on a partially-diluted basis.
Mr. Brian Bosse announces that, directly and indirectly, he has acquired (the "BB Acquisition") a total of 650,000 Shares of the Company. Prior to the BB Acquisition, Mr. Bosse, President, CEO and a Director of the Company, directly and indirectly, held 36,011,805 Shares and securities that entitle him to acquire 300,000 Shares. Upon BB Acquisition, he has control and direction over an aggregate of 36,661,805 Shares and 300,000 convertible securities, representing approximately 30.77% of the issued and outstanding Shares and approximately 30.94% on a partially-diluted basis.
Pursuant to the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, a copy of the early warning report to be filed in connection with each of the DM Acquisition and the BB Acquisition will be available on the Company's SEDAR+ profile once it has been filed in accordance with applicable securities laws.
About CUPANI
CUPANI Metals Corp. provides shareholders with long-term capital growth exposure by investing in mineral exploration properties and other assets. The Company is listed on the CSE under the symbol "CUPA". To learn more about the Company please visit http://www.CUPANImetals.com
Forward-Looking Information
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks, many of which are beyond the Company's ability to control or predict. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, conditions in the equity financing markets, stock market volatility, unquantifiable risks related to government actions and interventions, the termination of any agreement, changes in laws or permitting requirements, failure to obtain necessary regulatory approvals as well as those risks identified in the Company's annual Management Discussion & Analysis. Management has provided the above summary of risks and assumptions related to forward-looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
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SOURCE Cupani Metals Corp.
Brian Bosse, Director and Chief Executive Officer, CUPANI Metals Corp., [email protected], +14168445712
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