MMC Multiplied Media Corporation

AQM Copper Inc. (TSX VENTURE:AQM)(BVL:AQM) ("AQM " or the "Company") is pleased
to announce the completion of the transaction with Mitsubishi Materials
Corporation ("MMC") as announced in the Company's press release of July 2, 2013.
MMC has invested US$22.60 million and committed an additional US$15.07 million
to acquire a 40% interest in the Company's Peruvian subsidiary Minera AQM Copper
Peru S.A.C. ("MAQM"). MAQM owns the Company`s share of the Zafranal Project in a
50/50 joint venture company, Compania Minera Zafranal ("CMZ"), between MAQM and
Teck Resources Limited. This investment results in MMC and AQM having indirect
interests of 20% and 30% respectively, in the Zafranal Project in southern Peru.


The Company and MMC have entered into a joint venture shareholders' agreement
pursuant to which MMC and the Company will proportionately contribute to MAQM's
50% interest in the Zafranal Project. All major decisions regarding MAQM and the
ongoing development of the Zafranal Project will require the approval of both
MMC and the Company. During the initial carried period where MMC has agreed to
fund the additional US$15.07 million, MMC will have a casting vote on all major
decisions. 


The investment of US$37.67 million is expected to more than cover MAQM's share
of the anticipated costs of the proposed Pre-Feasibility and Feasibility Studies
for the Zafranal Project (subject to approval by the shareholders of CMZ to
initiate such studies). AQM's share of the costs related to such studies will be
solely funded from MMC's initial US$22.60 million investment, which is expected
to result in the Company holding effectively a carried interest in the Zafranal
Project through to a production decision. 


Following the carried period, each of MMC and the Company will be required to
fund their pro rata share of programs and budgets, or will be subject to
dilution.


Mr. Bruce Turner, President and CEO of AQM stated, "We are excited to have this
funding in place and to be associated with such a strong partner that is fully
aligned with AQM's goal to develop the Zafranal Project."


ON BEHALF OF THE BOARD OF DIRECTORS

Bruce Turner, President and CEO

ABOUT AQM Copper: AQM Copper Inc. is a Canadian based mineral exploration
company exploring and developing copper deposits in South America. Through its
Peruvian subsidiary, Minera AQM Copper Peru S.A.C., the Company is developing
the Zafranal Copper-Gold Porphyry Project located in Southern Peru. Minera AQM
Copper Peru S.A.C. is the operator of a 50/50 Joint Venture with Teck Resources
Limited through a sole purpose Peruvian company, Compania Minera Zafranal. 


The Company published a favourable independent Preliminary Economic Assessment
("PEA") in January 2013 which calculated a NI 43-101 compliant Measured and
Indicated Resource of 557.2 Mt grading 0.36% Cu and 0.07 g/t Au. The PEA was
completed by Tetra Tech WEI Inc., ("Tetra Tech"), and contains production
parameters, capital costs, operating costs, pre-tax and post-tax financial
projections for an open pit mine processing 80,000 t/d of mill feed and a leach
operation based on the treatment of approximately 20,000 t/d of oxide and
secondary sulphide material. Using long-term forecasted copper and gold prices
of US$3.00/lb and US$1,274/oz respectively; and an initial capital cost of US$
1,520 million, the Project is projected to yield a post-tax Net Present Value at
8% discount rate, of US$ 588 million and an internal rate of return (IRR) of
17.4%. The valuation is based on 100% of the Project and 100% Equity. The reader
should be aware that the preliminary economic assessment is preliminary in
nature, and includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to them
that would enable them to be categorized as mineral reserves. The reader should
also be aware that there is no certainty that the results forecast in the
preliminary economic assessment will be realized. Mineral resources that are not
mineral reserves do not have demonstrated economic viability.


The Company's management and directors have extensive experience working for the
world's largest mining copper producers and investment banking backgrounds.
Please refer to the Company's website at www.aqmcopper.com, for further
information regarding the Company and the Zafranal Project.


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.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to AQM Copper Inc., certain
information contained herein constitutes "forward-looking statements".
Forward-looking statements include statements that are predictive in nature,
depend upon or refer to future events or conditions, or include words such as
"expects", "anticipates", "plans", "believes", "considers", "intends",
"targets", or negative versions thereof and other similar expressions, or future
or conditional verbs such as "may", "will", "should", "would" and "could". We
provide forward-looking statements for the purpose of conveying information
about our current expectations and plans relating to the future and readers are
cautioned that such statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and uncertainties that may
be general or specific and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove to be
accurate, that assumptions may not be correct and that objectives, strategic
goals and priorities will not be achieved. These risks and uncertainties include
but are not limited to those identified and reported in AQM Copper Inc's public
filings, which may be accessed at www.sedar.com. Other than as specifically
required by law, we undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which such
statement is made, or to reflect the occurrence of unanticipated events, whether
as a result of new information, future events, results or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pinnacle Capital Markets LTD.
Spyros P. Karellas
Investor Relations
(416) 433-5696 or (416) 800-8921
spyros@pinnaclecapitalmarkets.ca

Multiplied Media Corporation (TSXV:MMC)
Historical Stock Chart
From Oct 2024 to Nov 2024

Multiplied Media Corporation (TSXV:MMC)
Historical Stock Chart
From Nov 2023 to Nov 2024