Allied Copper Receives TSX-V Approval for Stateline Option Agreement

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Vancouver, British Columbia, Canada, Sept. 26, 2022 (GLOBE NEWSWIRE) — Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) (the “Company » Where « copper alloy”), is pleased to announce that, further to its press releases dated February 10, 2022 and August 25, 2022, the Company has received TSX-V approval for the Option Agreement (the “OK”) dated February 9, 2022 (as amended August 5, 2022) for the sole and exclusive right to acquire a 100% undivided legal and beneficial interest (subject to a 2% net smelter royalty) for the Stateline, CO/UT USA property of Cloudbreak Discovery Plc (“cloudbreaker(LSE: CDL), Cloudbreak Discovery Canada Ltd., Tarsis Resources US Inc. and Alianza Minerals Ltd. (“Alliance”) (TSX-V: ANZ) (collectively, the “Sellers”).

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In order to exercise the option, the Company will pay to the Sellers, over the four (4) year term of the Agreement, the following consideration: (i) cash payments totaling C$315,000; (ii) issue an aggregate of 4,250,000 ordinary shares of the Company; and (iii) incur a total of C$3,750,000 in exploration expenditures on the property. The Sellers will retain a 2% NSR on the Property, upon exercise of the option by the Company.

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In addition, subject to certain steps, the Company may issue to the sellers an additional 1,500,000 common shares and 1,500,000 common share purchase warrants, each warrant exercisable into one common share at C$0.21 for a period of 36 months from the date of issue.

Qualified person
Cam Bartsch (P.Geo.) is the « Qualified Person » as defined by National Instrument 43-101 Disclosure Standards for Mining Projects who has reviewed and approved the technical information contained in this press release.

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About Alloyed Copper
Allied Copper Corp. (« Allied Copper ») (TSX-V: CPR) (OTCQB: CPRRF), headquartered in Vancouver, British Columbia, Canada, is a mineral exploration company focused on the acquisition and development of scalable long-lived copper and/or gold potential. assets in the western United States The company’s strategy is to focus on low-cost, high-growth-potential operations in low-risk jurisdictions. Allied Copper’s management is committed to operating efficiently and transparently in all areas of the business. Investors and/or readers can sign up to receive updates on the Company’s website: www.alliedcoppercorp.com

On behalf of the Allied Copper Corp. Board of Directors,
Mr. Warner Uhl
Executive Chairman

Contact information
For any questions relating to investor relations or for further information, please contact:
Kyle Hookey
CEO and Acting Director
Cell: +61 (431) 920 389
Email: khookey@cronincapital.ca

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Forward-Looking Statements – Safe Harbor
This press release contains certain « forward-looking statements » within the meaning of the United States Private Securities Litigation Reform Act of 1995 and « forward-looking information » under applicable Canadian securities laws. When used in this press release, the words « anticipate », « believe », « estimate », expect », « target », « plan », « expect », « may », « could » , “expect,” and similar words or phrases, identify forward-looking statements or information.

Forward-looking statements and forward-looking information regarding any future mineral production, liquidity, improving value and capital markets profile of Allied Copper Corp., the potential for future growth of Allied Copper and its business, and future exploration plans are based on management’s reasonable assumptions. , estimates, expectations, analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management deems relevant and reasonable in the circumstances, but which may turn out to be incorrect. Assumptions were made regarding, among other things, the price of copper and other metals; no escalation in the severity of the COVID-19 pandemic; exploration and development costs; estimated development costs of exploration projects; Allied Copper’s ability to operate safely and efficiently and its ability to obtain financing on reasonable terms.

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This press release contains « forward-looking information » within the meaning of Canadian securities laws. Statements, other than statements of historical facts, may constitute forward-looking information and include, but are not limited to, statements about: the anticipated timing and content of future work programs, geological interpretations, receipt of securities ownership and potential copper recovery processes; expected dates for receipt of permits, approvals and other milestones; Expected results of drilling programs, feasibility studies and other analyses; the expected availability and terms of future funding; future production, operating and capital costs; and operational or financial performance. Information regarding potential copper contingent resource estimates may also be considered forward-looking information to the extent that it reflects a prediction of the copper-bearing zones that would be encountered if a copper structure were developed and produced. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions regarding, among other things, the reliability of the geological, metallurgical, technical, financial and economic advice that the Company has received and which is based on industry-standard practices and methodologies. Although the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. In addition, there are known and unknown risk factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in the present. Known risk factors include, among others: fluctuations in commodity prices and exchange rates; uncertainties related to the interpretation of well results and the geology, continuity and grade of copper deposits; the uncertainty of capital and operating cost estimates, recovery rates, production estimates and estimated economic returns; the need for cooperation from governmental agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and the uncertainty as to the availability and terms of future financing; the possibility of delays in exploration or development programs or construction projects and uncertainty as to the achievement of planned program milestones; uncertainty as to the timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, skilled personnel and management. All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and the Company undertakes no obligation to revise or update such forward-looking information or to publicly announce the outcome of any revision of any forward-looking information contained herein to reflect future results, events or developments, except as required by law.