Pipeline Continues To Advance At Mongolia’s South Gobi

MELBOURNE, AUS -  Kincora Copper Limited reported on exploration and corporate update following 2021 field season activities in Mongolia and an extension of the corporate agreement with Resilience Mining Mongolia Limited covering the Mongolian asset portfolio.

Sam Spring, President & CEO, said, "Kincora has continued to responsibly and systematically advance and add value to our prospective project pipeline in Mongolia's Southern Gobi, with promising results, as we work with and pursue the corporate agreement with Resilience. The agreement with Resilience provides attractive upside to Kincora shareholders and will streamline focus to our Macquarie Arc porphyry portfolio in Australia. Last year's field activities have identified a new significant scale series of porphyry targets at Shuteen North, and separately advanced our understanding of the mineralized controls and size of the system at the more advanced West Fox target. These results further highlight the potential of our existing Mongolian project portfolio and logic of having a motivated and focused group like Resilience drive these assets forward to the next stage. The Company has granted Resilience an extension to IPO on the ASX with a A$7.5 million to A$10 million offering, a new lead manager, reimbursement of certain Mongolian expenditures, and the definition of a maiden resource for the Bronze Fox project. The targets, team and foundations are in place for Resilience to add significant value this field season."