Coppernico Supercharges Sombrero Project: A Strategic Move to Unlock Copper-Gold Riches

Coppernico Metals Inc. (TSXV: CPN) has announced a significant strategic move, amending its existing option agreement for the highly prospective Sombrero copper-gold porphyry project in Peru. This pivotal decision is designed to solidify the company's control over the world-class asset and, crucially, to fast-track the advancement of essential drill permits, paving the way for accelerated exploration and potential groundbreaking discoveries.

The amendment represents a proactive step by Coppernico to optimize its path forward at Sombrero, a project renowned for its high-grade copper and gold potential.

By streamlining the agreement with the private vendors, Coppernico is enhancing its flexibility and dedicating resources more effectively towards technical work and community engagement – both vital components for securing the necessary permits to commence drilling.

Under the revised terms, Coppernico Metals will issue 2,000,000 common shares to the vendors, subject to approval from the TSX Venture Exchange.

Furthermore, a cash payment of CAD$2.5 million, originally slated for December 1, 2024, has been strategically deferred. This deferred payment will now be due upon a decision by Coppernico to either exercise or terminate the option, offering considerable financial flexibility. In addition, a new payment of USD$150,000 (or the equivalent in shares) is now payable within five business days following TSXV approval of the amendment.

Ivan Bebek, President & CEO of Coppernico Metals, emphasized the strategic importance of this amendment.

"This updated agreement is a game-changer for Coppernico and the Sombrero project," he stated. "It simplifies our financial obligations, allowing us to focus our capital and expertise squarely on what matters most: advancing the drill permit process. Sombrero holds immense promise as a major copper-gold discovery, and solidifying our position while accelerating permitting is paramount to unlocking that value for our shareholders."

The Sombrero project, located in a highly prolific region of Peru, has consistently demonstrated indications of a large, high-grade copper-gold porphyry system.

Previous exploration has identified compelling targets, and the ability to initiate drilling is the critical next step in proving out its scale and economic viability. Coppernico's commitment to community engagement and responsible exploration practices remains central to its strategy as it moves closer to unlocking this remarkable opportunity.

This strategic amendment not only strengthens Coppernico's ownership pathway but also signals strong confidence in the Sombrero project's potential.

By providing a clear roadmap for permitting and exploration, the company is well-positioned to aggressively pursue its goal of defining a significant new copper-gold resource, which could have a transformative impact on its growth trajectory and the global mining landscape.