TORONTO, ONTARIO--(Marketwire - Oct. 17, 2012) - Copper One Inc. (TSX VENTURE:CUO) (the "Company" or "Copper One") is pleased to announce that drilling equipment and personnel are currently on site to drill up to 5,000 m at the Company's Queylus copper-gold project. It is located less than 10 km South of Chibougamau, QC. The program will be completed by the end of the year and core sampling results will be announced in January, 2013. Copper One has obtained all necessary permits to proceed with the drilling.
A ground induced polarization survey was conducted in previous weeks on three high-priority grids: the North, East and Main, where several anomalies were outlined. In particular, the East grid encompasses an area never drilled, with targets associated to high magnetic lineaments. Copper One plans also to investigate much further South a shear zone previously identified and located on the Main grid.
The Queylus Property comprises 3,600 hectares (36 km2) in a prolific mining district containing several past-producing mines. The Company has an undivided 100% interest in these claims.
Benoit Moreau, Copper One's President and Chief Executive Officer states, "We are pleased to undertake this drilling program on a property with excellent infrastructure and overlooked potential. CUO is also in a position to quickly follow up on anticipated positive results."
The geophysical survey was completed by Géophysique TMC of Val-D'Or, QC and diamond drilling will be performed by Forages Chibougamau. Both are local contractors having a strong track record.
The scientific and technical information in this news release has been reviewed and approved by Benoit Moreau, Copper One's President and CEO, a professional engineer and a qualified person as defined by National Instrument 43-101.
About Copper One Inc.
Copper One is focused on developing high-value copper deposits in leading mining jurisdictions. The newest additions to Copper One's portfolio are the Rivière Doré copper-nickel project, located near Val d'Or, QC, and the Queylus copper-gold project in the Chibougamau mining district of Quebec. Copper One has six other properties in the Arizona and New Mexico copper mining districts, including the Lone Mountain copper oxide project. The Company is led by a diverse team of explorers, developers and operators with major company experience and a clear understanding of the mining business.
For more information about Copper One Inc., please visit: www.copperone.com.
On behalf of the board of directors of Copper One Inc.,
Benoit Moreau, President & Chief Executive Officer
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements with respect to the impact of the acquisition on the Company and the Company's exploration plans with respect to the Property. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Copper One Inc. believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
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.