Vancouver, B.C., February 9, 2011, Copper One Inc. (TSXV: CUO) (the "Company" or "Copper One") is pleased to announce that the TSX Venture Exchange ("TSXV") has accepted the filing of a letter of intent dated October 18, 2010 in relation to the Option and Joint Venture Agreement with Cartier Resources Inc. to explore and develop the Riviere Dore Copper Nickel property (the "Property") in Quebec. Copper One can acquire up to a 75% equity interest in the Property, located southeast of the town of Val- d'Or, Quebec as announced in the Company's January 18, 2011 news release.
The TSXV has also approved the Company's issuance of 265,625 common shares as an initial finder's fee to Axemen Resource Capital Ltd. (the "Finder"), an Exempt Market Dealer. A further 135,625 common shares will be payable to the Finder when the Company has acquired the initial 51% interest in the Property. The common shares issued as the initial finder's fee are subject to a four month hold period which will expire on June 3, 2011.
About Copper One
Copper One Inc. also holds a significant portfolio of copper properties in the prolific copper-producing regions, in Arizona and New Mexico. This area hosts some of the world's largest and most profitable copper deposits and as a group, contain over 10% of the world's copper production. Copper One Inc. is focused on the discovery of copper resources which are suitable for leaching. Lone Mountain, the company's feature property, is within sight of the large Tyrone and Chino porphyry copper deposits owned by Freeport-McMoRan.
For more information about Copper One Inc., please visit: www.copperone.com.
On behalf of the board of directors of Copper One Inc.,
Alan Edwards, B.Sc Mn Eng, MBA
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Copper One Inc. www.copperone.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.