Copper Lake Announces Appointment of New Director to the Board

Date : 04/28/2020 @ 9:44PM
Source : GlobeNewswire Inc.
Stock : Copper Lake Resources Ltd (CPL)
Quote : 0.02  -0.005 (-20.00%) @ 8:43PM
Copper Lake Resources share price Chart

Copper Lake Announces Appointment of New Director to the Board

Copper Lake Resources (TSXV:CPL)
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Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I) ("Copper Lake" or the "Company") is pleased to announce the appointment of Ms. Naomi Johnson, LL.B. to the Company’s Board of Directors.

Ms. Johnson is a lawyer with over 12 years of experience working in the mineral industry as a global Corporate Social Responsibility executive, primarily in a community relations role both domestically and internationally.  From 2008 to 2017, Ms. Johnson worked for Barrick Gold Corporation in a number of senior roles, most recently serving as Partner and Senior Director, Community Relations.

Copper Lake Chief Executive Officer Terry MacDonald commented, “I am very pleased to welcome Naomi to Copper Lake’s Board of Directors.  As an expert in CSR and community engagement best practices, Naomi brings industry leading expertise necessary to the Company at a time when engagement with the indigenous community is becoming even more critical to the success of mining in Canada.  As Copper Lake advances its properties at Marshall Lake and Norton Lake, we will strive to implement these best practices with our indigenous partners.”

Mr Gary O’Connor, B.Sc,. FAusIMM is stepping down from the Board at this time.  Gary has been a director of the Company since March 2016 and has contributed significantly to the Company during his tenure.  The Board of Directors wish to express their thanks to Mr. O’Connor for his service to the Company.

Granting of Stock Options

The Company also announces that it has granted, effective April 28, 2020, a total of 500,000 stock options to its new director in accordance with the Company's current stock option plan. Each option is exercisable into one common share of the Company at a price of $0.05 per share for a period of five years from the date of grant, and vest immediately.

About Copper Lake Resources

Copper Lake Resources Ltd. is a publicly traded Canadian company currently focused on advancing properties located in Ontario, Canada.

The Marshall Lake high-grade VMS copper, zinc, silver and gold property, located just north of Geraldton, Ontario, comprises an area of approximately 104 square km and is accessible by all-season road. Copper Lake has an option to increase its interest to 87.5% from its current 75% interest.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties.  The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favourable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year round, and is located immediately west of the original Marshall Lake property.

Copper Lake has a 71.41% interest in the Norton Lake nickel, copper, cobalt, PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property, and has a NI 43-101 compliant measured and indicated resource of 2.26 million tonnes @ 0.67% Ni, 0.61% Cu, 0.03% Co and 0.46 g/t Pd.

On behalf of the Board of Directors,

Copper Lake Resources Ltd. Terry MacDonald, CEO(416) 561-3626 tmacdonald@copperlakeresources.comCHF Capital MarketsCathy Hume, CEO(416) 868-1079 x 231cathy@chfir.com

www.copperlakeresources.com

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.

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