KINCORA COPPER STRIKES AGREEEMENT FOR POSSIBLE BRONZE FOX PARTNERSHIP IN MONGOLIA

Ulaanbaatar /MONTSAME/ Toronto-listed Kincora Copper has announced progress at its Bronze Fox project in Mongolia as it struck an exclusivity agreement on a possible alliance for the asset. According to news published at proactiveinvestors.com on Monday, the agreement grants a third party exclusive rights to carry out due diligence on the copper project ahead of a potential joint venture, strategic alliance or other transaction. Sam Spring, Kincora's president and chief executive, told investors that Kincora is the last remaining listed copper junior in Mongolia without a strategic partner and "this is despite Bronze Fox being one of the more advanced copper projects, situated in the Oyu Tolgoi mineralization structural trend". He also highlighted the property's strategic location in one of the most rapidly developing mining centers and one of the last under-explored frontiers. "The company has attracted interest from various existing large-scale copper producers and welcomes advancing discussions with this particular group as we continue our ongoing drilling and other exploration activities at Bronze Fox." Bronze Fox has a mineral footprint of around 40 sq km and lies 140km from Rio Tinto's Oyu Tolgoi mine, where daily production is targeted of up to 160,000 tons a day. At Bronze Fox, Kincora aims to find shallow and/or deep copper-gold porphyry deposits and assess the potential for shallow gold deposits with a view to the future development of open pit or underground mines. The firm noted that this exclusivity agreement did not restrict Kincora’s ability to undertake ongoing exploration activities or other corporate moves, such as private placings.