Tag: Kincora Copper Limited

Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to announce the initial interpretations from new geophysical surveying at a portion of the northern “Ace of Spades” region of the Nyngan Project, located in the Northern Junee-Narromine Belt (NJNB) of the Macquarie Arc, Central West New South Wales.

Sam Spring, President and CEO of Kincora commented:

“The geophysical surveys are being conducted in partnership with Fleet Space and include the first ever integration of gravity with a real-time ANT survey completed by Fleet Space.

The Cadia intrusive system complex has a ~5.7km footprint, seven deposits within it, with regional geophysics able to identify key structures and geological units. What we are seeking to confirm in our first phase of drilling at Nyngan is the potential for multiple new Macquarie Arc intrusive system complexes that have similar multi-kilometre alteration zones and multiple deposit potential.

The initial results from the Fleet Space surveys, coupled with existing regional geophysics, are positive providing a more detailed and refined geophysical model for an existing a high priority and large-scale target that is about to be drilled within the Ace of Spades region.

The Ace of Spades is a very compelling new district scale opportunity, potentially the largest volcano-intrusive complex of the Macquarie Arc and has never been drilled.

We are now in a very exciting period with the 6 to 8-hole program commenced. This program will drill a range of large-scale and separate intrusive system targets, focused on the Ace of Spades, within an existing pipeline of 16 targets that are permitted for drilling within the northern portion of the Nyngan Project.”

Background

Fleet Space’s real-time Ambient Noise Tomography (ANT) and ground gravity surveys, enabled by their end-to-end mineral exploration solution, Exosphere, are the first integrated surveys completed by Fleet Space and seek to apply cutting-edge technology to generate and interpret new homogeneous, primary datasets with existing regional geophysical surveys and geological data.

The surveys have confirmed and refined a regionally significant priority drill target previously and separately identified by Kincora, AngloGold Ashanti and Fleet Space within the northern “Ace of Spades” region of the Nyngan Project. Existing regional geophysics strongly indicates that the Nyngan Project potentially hosts the largest volcano-intrusive complex of the Macquarie Arc offering new district scale potential situated in the northern under cover extension of the Arc – see Figure 1.

It is well documented that the composite volcanic and intrusive complexes elsewhere in the Macquarie Arc, which hosts an estimated total mineral endowment of over 160Moz gold equivalent ³, have large alteration and geochemical halos that are often identifiable from regional geophysical surveys. For example the magmatic and alteration footprints at Cadia have a ~5.7km wide footprint, hosting two skarn and five porphyry deposits with a metal endowment of more than 50Moz gold and more than 9.5Mt copper ³, and regional geophysics is able to identify key structures and geological units (see Figure 2 for an illustration). Similar large geophysical features are present at the Nyngan Project and the survey area. Furthermore, the mineralised deposits in the Arc (including Cadia) and other globally significant porphyry districts generally occur in clusters situated on cross-arc structures. Similar structures have been identified by the Fleet Space surveys inline with existing regional geophysics – see Figures 1-3.

Two existing 2024 field season Kincora and AngloGold Ashanti drill targets were covered by the Fleet Space surveys and are to be very shortly drill tested as part of the first ever copper-gold focused drilling program within the Ace of Spades. A 6 to 8-hole for an estimated 4000-5000m program has commenced and is scheduled before the end of year with earn-in partner AngloGold Ashanti within an existing pipeline of 16 targets that are permitted for drilling within the northern portion of the Nyngan Project.

Confirmed and Refined High Priority Target at the Ace of Spades

The Fleet Space multiphysics surveys have combined proprietary ground exploration techniques that minimise environmental impact by utilising seismic noise derived from natural and anthropogenic sources (two ANT surveys complete), with new gravity (two ground gravity surveys complete) and existing public access regional airborne magnetics and gravity.

Intergration of these datasets have sought to:

(i) identify and refine targeting of new composite volcanic and intrusive complexes,

(ii) map the depth to basement,

(iii) refine key structural features, and,

(iv) identify changes in velocity and density that may reflect different lithological units.

The regional ANT survey covered an area of approximately 35km² with a tighter spaced infill and ground gravity survey area of approximately 9km². Similar to other Fleet Space surveys in the district, the ANT velocity model provides a depth profile to approximately 2500m and 1000m in the infill survey.

This marks the first time a Fleet Space real-time ANT survey has been accompanied by an integrated and coincident ground gravity survey to deliver complimentary nearer surface density models.

The initial interpretation of the Nyngan multiphysics results have confirmed and refined an existing high priority drill target with several features of interest at both a regional and infill survey level having potential implications for future exploration.

(i) Regional ANT survey results highlights:

• Multiple deep-seated structures consistent with existing magnetics and gravity features, refining interpreted potential cross-arc structures and separate target domains that may have influenced the emplacement of intrusions.
• Supported the potential for multiple volcanic and intrusive complexes.
• Average depth to basement of ~360m across the survey area.
• Identified a number of potential new areas of interest with low seismic velocity zones in the basement sequence (interpreted to potentially be related to hydrothermal alteration), near edges and/or above high seismic velocity bodies (interpreted to potentially be related to large intrusions at depth).

(ii) Infill ANT and gravity survey highlights:

• Higher resolution of interpreted structures, with velocity and density models refining potential lithological domains, structures and cross-arc structures.
• Supported the potential for multiple intrusive stocks and additional drill hole targets.
• Confirms and refines an existing high priority drill target with the originally proposed drill hole collar moved ~400m.

Imminent drilling will test a large scale target off the shoulder of a pronounced density and magnetic anomaly associated with a potential cross-arc structure and into a low-intermediate seismic velocity zone (interpreted to potentially be related to hydrothermal alteration and/or mineralisation) that lies above a high seismic velocity anomaly at depth (interpreted to potentially relate to a Macquarie Arc intrusion) – see Figure 3.

The commenced drilling program is expected to provide enhanced geological understanding of the geophysical models resulting from the Fleet Space multiphysics surveys. Such learnings are expected to assist Kincora with future exploration and drill hole targeting at both the Nyngan Project, the recently expanded partnership with Fleet Space for the Wongarbon Project and the Company’s existing pipeline of eleven other porphyry projects in the Macquarie Arc.

New Potential Drill Targets At the Ace of Spades

Currently Kincora and AngloGold Ashanti have an existing pipeline of 16 targets that are permitted for drilling within the northern portion of the Nyngan Project – see Figure 2. Two of these proposed for drilling before year-end are included in the Fleet Space survey area with a further two permitted covered by the regional ANT.

Similar to other project level ANT surveys recently undertaken by Fleet Space in the Macquarie Arc at Waratah Minerals Limited’s Spur Project (“Waratah”, WTM.ASX) ⁴ and Inflection Resource’s Duck Creek Project (“Inflection”, AUCU.CSE) ^5,6, a number of additional areas of potential interest for new large intrusive porphyry systems and potential drill targets have been identified in the Ace of Spades region.

Inflection has been using Fleet Space ANT survey results, coupled with existing regional geophysics, as a key exploration tool in its drill hole targeting at Duck Creek.

Results from down-hole geophysical surveying have reported zones of relatively high seismic/shear-wave velocity associated with competent intervals of monzodiorite, which supports the hypothesis that intrusions are likely to manifest in the ANT data as zones of elevated seismic velocity. Additionally, the surveying demonstrates localised areas of low seismic velocity associated with more intense hydrothermal alteration, which also supports the interpretation that low seismic velocities evident in the ANT survey can represent zone of hydrothermal alteration ⁷.

The results of the multiphysics surveys at Nyngan will be reviewed in light of the commenced drilling program results in conjunction with AngloGold Ashanti and are expected to also assist with Fleet Space and Kincora’s partnership for the Wongarbon Project.

Further New District-Scale Opportunities

Prospective early stage porphyry positions in the interpreted undercover extensions of the Macquarie Arc that offer new district scale potential have recently been the focus of five large earn-in and joint venture agreements supporting potentially over $300 million of exploration expenditure covering over 10,000km². Most recently, only in August, Gold Field’s re-entered the Macquarie Arc via a multiple phase, multiple project option agreement with a private explorer, Gold and Copper ⁸.

Spatial and temporal settings, coupled with magnetics, gravity and ANT surveys, supports new district scale potential and that the largest sections of the Macquarie Arc may be located under post mineral cover.

Kincora was an early entrant pursuing this strategy, securing a significant portion of the most prospective and shallow to moderate depth sections of this underexplored (often never drilled) sections of the Macquarie Arc.

The Company is discussing further partnership opportunities with Fleet Space, amongst other groups, and notes the recent results of the Fleet Space and Inflection district scale ANT survey (>1800km²) which, when integrated with other existing datasets (including airborne magnetics and gravity), has resulted in four new priority targets, three of which commence within 2km’s of Kincora’s wider project portfolio (four if Duck Creek is included) in the Northern Junee-Narromine Belt (NJNB) ⁶ – see Figure 1.

Kincora has recently secured three new wholly owned licenses covering 1,377km² (the Nyngan West, Nyngan South and Nevertire South Projects) providing a continuous landholding along >100km strike of the NJNB (see Figure 1) ⁹ with a recent extremely positive review of the new Nevertire South Project supporting what Kincora believes is the most attractive geologically supported target in the covered extensions of the Macquarie Arc ¹⁰.

Coupled with the highly prospective Wongarbon Project¹¹, located on the northern Molong Belt, Kincora is seeking to confirm multiple new district-scale and porphyry discovery potential.

Figure 1: Multiple Fleet Space surveys, existing regional magnetics and gravity surveys, and limited drilling to date supports Kincora and AngloGold Ashanti’s interpretation that the Northern Junee-Narromine Belt hosts the potential for multiple new composite volcanic and intrusive complexes with analogous aeromagnetic signatures and intrusive level cross arc structures to other Macquarie Arc porphyry complexes (eg Cadia, Cowal, Boda-Kaiser, Marsden etc)

The Macquarie Arc is a proven Tier 1 terrane and Australia’s foremost copper porphyry belt hosting a number of world-class mines in the southern, more exploration mature, of the Arc hosting over 160Moz gold equivalent endowment.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/227375_dafda03364be6bf7_001full.jpg

Figure 2: Fleet Space’s ANT and gravity surveys have refined a regionally significant priority drill target previously and separately identified by Kincora, AngloGold Ashanti and Fleet Space within the northern “Ace of Spades” region of the Nyngan Project. This target is to be very shortly drill tested as part of the first ever copper-gold focused drilling program within this region. As part of a permitted drill program for up to 16 holes, a 6 to 8-hole for an estimated 4000-5000m program is budgeted before year-end with earn-in partner AngloGold Ashanti.

Kincora and Inflection’s recent real-time Fleet Space ANT surveys have generated a number of new, previously unrecognised potential target areas that are currently being reviewed.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/227375_dafda03364be6bf7_002full.jpg

Figure 3: Imminent drilling will test a large-scale target off the shoulder of a pronounced density and magnetic anomaly associated with a potential cross-arc structure and into a low-intermediate seismic velocity zone (interpreted to potentially be related to hydrothermal alteration and/or mineralisation) that lies above a high seismic velocity anomaly at depth (interpreted to potentially be an intrusion) – illustration sourced from Fleet Space’s Exosphere.

The Fleet Space surveys across the Macquarie Arc have identified and refined existing targets of new composite volcanic and intrusive complexes, mapped estimated depth to basement, refined key structural features (including cross-arc structures), and, identified changes in velocity and density that may reflect different lithological units.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/227375_dafda03364be6bf7_003full.jpg

About the Nyngan Project

The Nyngan Project was the first ground Kincora secured in NSW ¹² with regional geophysics strongly indicating the potential to hosts the largest volcano-intrusive complex of the Macquarie Arc (existing metal endowment of over 160Moz gold equivalent) and offering a new district-scale setting. Limited prior drilling activities have taken place, and are limited to the southern portion of the Project.

In May 2024, Kincora signed a definitive multiple-phase Earn-in and Joint Venture Agreement over the Nyngan and Nevertire licences with a wholly owned subsidiary of AngloGold Ashanti plc (NYSE: AU; JSE: ANG), the world’s fourth largest gold miner by production, which has a successful track record for Greenfields discovery success.

AngloGold Ashanti has the right to spend up to A$50 million to earn an 80% interest through:

• A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
• Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn a 80% joint venture interest (Phase II) ¹³.

The commenced drilling program is focused within the northern portion of the Nyngan Project and the “Ace of Spades” region testing a wide range of untested, large intrusive-related copper-gold targets. The program will comprise cost-effective mud-rotary drilling through the post mineral cover sequence with diamond core drilling upon refusal and testing of the targeted basement. The program seeks to confirm the potential for a series of new Macquarie Arc intrusive complexes and provide vectors for follow up drilling.

About Fleet Space Technologies

Fleet Space is widely regarded as Australia’s leading space company and is seeking to revolutionise mineral exploration with its vertically integrated technology sack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition, and AI to map mineral systems in real-time.

Fleet Space’s ExoSphere technology enables an end-to-end approach to high-quality data acquisition, processing, interpretation and targeting to streamline exploration and improve success rates for new economic discoveries.

Leveraging Fleet Space’s proprietary satellite network in low Earth orbit, smart seismic sensors enabled with edge computing and rapid data processing ExoSphere delivers real-time 3D mapping of mineral systems and AI-powered drill targeting with near-zero environmental impact.

In the last quarter, Barrick Gold announced it would partner with Fleet Space to survey copper porphyry complexes across 1,150km² of the world-class Reko Diq project ¹⁴ and in the last month Gold Fields announced a similar relationship to advance exploration at the Salares Norte project in Chile ¹⁵.

Recently, Inflection Resources’ announced new targets generated by ExoSphere, leading AngloGold to accelerate their Exploration Agreement and drilling with Inflection ⁵. Inflection and Fleet Space have also recently announced the results of the world’s largest real-time ANT survey across 1818km², built an AI-powered district scale copper prospectivity map which, when integrated with other existing datasets (including airborne magnetics and gravity), has resulted in four new priority targets, three of which are within 2km’s of Kincora wider project portfolio in the northern Junee-Narromine Belt.

In July 2024, Kincora formed an initial partnership to conduct the first ever integrated real-time ANT and ground gravity undertaken by Fleet Space within the “Ace of Spades” region at the Nyngan Project.

In mid October 2024, Kincora expanded its partnership with Fleet Space to include: (i) a listed equity investment, (ii) multiphysics surveys at the Wongarbon Project to identify and refine targets, and, (iii) Fleet Space having the right to drill test targets to earn an asset level interest in the Wongarbon Project.

ExoSphere’s rapid global adoption has propelled Fleet Space’s exponential growth, including a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send a variant of ExoSphere to the Moon in 2026, and recognition as Australia’s fastest growing company by the Australian Financial Review (2023).

For more information please visit Fleet Space’s website at https://www.fleetspace.com.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed five agreements that unlock over A$60 million in potential multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to 10,000-30,000m pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com.

References:

¹ Three Kincora Partner Funded Drilling Programs Ramping Up – Kincora press release October 7, 2024

² Kincora announces Strategic Investment and Expanded Partnership with Fleet Space – press release October 15, 2024

³ Sourced from MinEx Consulting for Kincora

⁴ ANT geophysics defines additional epithermal-porphyry targets at Spur Project – Waratah press release May 23, 2024

⁵ Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie – Fleet and Inflection Case Study 2023

⁶ Inflection Resources Defines New Priority Targets Based on Results of Regional ANT Survey in New South Wales – Inflection press release September 12, 2024

⁷ Inflection Resources Provides Drilling Update from Phase II Duck Creek Exploration Program in New South Wales – Inflection press release October 3, 2024

⁸ Gold Fields H1 2024 Results – August 23, 2024

⁹ Kincora Secures New Strategic Ground On Australia’s Premier Porphyry Copper-Gold Province – Kincora press release September 9, 2024

¹⁰ Three Kincora Partner Funded Drilling Programs Ramping Up – Kincora press release October 7, 2024

¹¹ New Major, Virgin Porphyry Complex And Drill Targets Secured – Kincora press release June 3, 2024

¹² Kincora secures strategic license in Australia’s leading porphyry belt – Kincora press release November 21, 2019

¹³ AngloGold Ashanti to earn-in to the NJNB Project – Kincora press release May 28, 2024

¹⁴ Fleet Space’s Exosphere Enhances Barrick Gold’s Data-Driven Copper Exploration at Reko Diq – Fleet Space press release July 9, 2024

¹⁵ Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile – Fleet Space press release October 3, 2024

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information reviewed and approved by John Holliday and Peter Leaman, who are Competent Person(s) under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consent to the inclusion in this report of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for Kincora’s projects have included the receipt of all material exploration data, results and sampling procedures of previous operators, contractors, new results and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g., cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard’ work has been done this would be relatively simple (e.g., ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information	Not applicable: Ground geophysical surveys
Drilling techniques	Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	Not applicable: Ground geophysical surveys
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Not applicable: Ground geophysical surveys
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.The total length and percentage of the relevant intersections logged.	Not applicable: Ground geophysical surveys
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.	Not applicable: Ground geophysical surveys
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been established.	Not applicable: Ground geophysical surveysFleet Space Technologies Pty Ltd (Fleet Space Technologies) completed a 14-day Ambient Noise Tomography (ANT) Survey. One hundred (100) Geodes® (Geodes) plus spares enabled for real-time data acquisition and uplink, including live survey monitoring tools via ExoSphere Cloud interfaceData processing uses 3D shear velocity models generated via Fleet Space Technologies’ proprietary automated data processing in ExoSphere Cloud, which allows unlimited user access to view and export 3D model resultsAmbient noise tomography uses the Earth’s background hum as the signal for measuring subsurface velocity structure. An array of seismic sensors (Geodes) records ambient seismic noise created by natural and anthropogenic sources from which the travel-times of surface waves between pairs of Geodes is extracted via the process of cross-correlation and stacking. This technique effectively transforms each pair into a virtual source-receiver pair, from which the phase velocity versus frequency relationship (dispersion) can be measured and used to model the subsurface velocity structureNot applicable: Ground geophysical surveys
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.	Not applicable: Ground geophysical surveys
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.	Not applicable: Ground geophysical surveysHandheld GPS location and height control is considered adequate for early-stage exploration geophysical surveying
Data spacing and distribution	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.	At the exploration stage, data spacing is variable and designed to understand the nature and controls on mineralisationResults are considered early stage, with the nature and controls on mineralisation still being establishedNot applicable: Ground geophysical surveys
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	The orientation of the grid isn’t relevant to the outcome of the ANT data collectionAn array of seismic sensors (Geodes) records ambient seismic noise created by natural and anthropogenic sources from which the travel-times of surface waves between pairs of Geodes is extracted via the process of cross-correlation and stacking. This technique effectively transforms each pair into a virtual source-receiver pair, from which the phase velocity versus frequency relationship (dispersion) can be measured and used to model the subsurface velocity structure
Sample security	The measures taken to ensure sample security.	Not applicable: Ground geophysical surveys
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Not applicable: Ground geophysical surveys but noting multiple conference calls, reviews and interpretations of the regional ANT, infill ANT and ground gravity survey parameters, assumptions, results and interpretations by Kincora’s team.

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The exploration activity is located on tenement EL8929, named the Nyngan Project, in central western New South Wales.EL8929 is 100% owned by Kincora Copper Limited through its subsidiary Kincora Copper Australia Pty Ltd, and is the focus of an earn-in and joint venture agreement with AngloGold Ashanti – for further details refer to the Kincora press release dated May 28th, 2024 “AngloGold Ashanti to earn-in to the NJNB Project”Kincora has all permits to undertake the required Fleet Space surveys and a first phase drilling program for up to 16 drill holes
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	All Kincora projects have had previous exploration work undertaken. The review and verification process for the information disclosed herein and of other parties for the Nyngan project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures. Further details of exploration efforts and data of other parties are providing in the March 1st, 2021, Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus
Geology	Deposit type, geological setting and style of mineralisation.	All projects ex EL7748 (Condobolin) and EL9340 (Condobolin East) are within the Macquarie Arc, part of the Lachlan Orogen and at the Nyngan Project Kincora is exploring for porphyry-style copper and gold mineralisation, copper-gold skarn plus related high sulphidation and epithermal gold systems.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Not applicable: Ground geophysical surveys
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.	Not applicable: Ground geophysical surveys
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length, true width not known’).	Not applicable: Ground geophysical surveys
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	See body of announcement.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Not applicable: Ground geophysical surveys
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Public access regional airborne gravity and magnetics has been reviewed and interpreted, with analysis and comparison to other geological and geophysical datasets of Macquarie Arc intrusive in the immediate and wider district.
Further work	The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Drilling is ongoing at the Nyngan Project with earn-in partner AngloGold Ashanti. This program seeks to test new district-scale potential with initially up to eight large intrusive complex targets to be drill-tested for the first time. This includes one existing high priority target covered by the Fleet Space ANT and gravity geophysical surveys. 6 to 8 drill holes for 4000-5000 metres are planned before year-end with a total of 16 holes permitted.See figures in body of report

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227375

Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased to have expanded its partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to include: (i) a listed equity investment, (ii) multiphysics surveys at the Wongarbon Project to identify and refine targets, and, (iii) the right to drill test targets to earn an asset level interest in the Wongarbon Project.

Fleet Space is Australia’s fastest growing company ² and widely recognised as Australia’s leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition and AI to map mineral systems in real-time to streamline exploration and improve success rates for new economic discoveries.

The Wongarbon Project has never been drilled, is located in the interpreted extension of the Northern Molong Belt of the Macquarie Arc, NSW, and is considered to be highly prospective for a new large-scale porphyry copper-gold complex and series of discoveries.

Sam Spring, President and CEO of Kincora, commented:

“Kincora and Fleet Space strongly believe the Wongarbon Project has the potential to be a new porphyry district and it is a prime candidate for major discovery.

We are very pleased to have entered this innovative and multiple phase agreement.

The results of our recent multiphysics surveys at our Nyngan Project are pending and the structure of this expanded partnership with Fleet Space provides unique alignment.

We look forward to shortly advancing the first new exploration at the Wongarbon Project in almost 30-years with a pathway for refining and drilling true and large-scale virgin targets.

This is Kincora’s fifth recent partnership further demonstrating how we work with technical partners to apply industry leading exploration techniques to systematically advance, fund and de-risk our project pipeline of highly prospective porphyry targets.

Further deals and partnerships are proposed for other Kincora projects and we thank existing shareholders for their support in the capital raising and welcome some good new groups to the register.”

Fleet Space Director, CFO and Financial Strategy & Investment Officer, Federico Tata-Nardini, said:

“In a major advance for exploration in the Macquarie Arc, we are excited to deploy Fleet Space’s proprietary ExoSphere technology stack and multiphysics surveys at the Wongarbon Project, building upon our relationship with Kincora.

These agreements reflect a complete end-to-end deployment of ExoSphere, from target generation to drill testing on a project that offers new district scale potential and has never been drilled.

Fleet Space has invested very significantly in the Macquarie Arc and established a unique knowledge of a number of the key porphyry systems and emerging discoveries. We have completed five surveys, including recently at the Boda-Kaiser deposits.

Why? Because we believe there are further Cadia-scale deposits to be found and that our Exosphere technology will play a fundamental role in uncovering the next one as we continue to enhance mineral systems knowledge worldwide.

Wongarbon’s geological and geophysical setting is favourably located in a highly prospective area of the Arc. It has clear analogues of the nearby porphyry complexes and existing Tier 1 deposits. We believe the project is at the stage where we can add significant value and mutually share major discovery potential with Kincora.”

Capital Raising

In conjunction with these agreements with Fleet Space, the Company is pleased to announce that it has received binding commitments for a two tranche share placement comprising 33.5m shares at an issue price of $0.038 (C$0.036) per share to raise A$1.27m (C$1.19m) (before costs) with 1:2 attaching option at A$0.075 (C$0.07) with a 2-year term (the “Placement”). The issue price is a 12% discount to the last close price (October 10^th, 2024) and 16% discount to the 15 day VWAP (on the ASX).

The Offering has been led by strategic investments for A$400,000 (C$373,832) by Fleet Space’s investment fund, a new arms-length investor, and Big Ben Holdings, a long-term shareholder of Kincora’s maintaining its 12.9% stake.

Allotment of tranche 1 of the Placement to professional and sophisticated investors will take place on October 22^nd, 2024, with 12.6m shares being issued under Kincora’s Listing Rule 7.1 placement capacity. Tranche 2 of the Placement (comprising 20.9m shares and 16.8m attaching options) will be subject to shareholder approval pursuant to a General Meeting, with further details to be provided to shareholders in a Notice of Meeting to be lodged shortly.

Subject to shareholder approval, Directors intend to purchase C$50,000 of shares under tranche 2 of the Placement with Fleet Space and Big Ben Holdings also agreeing to participate in tranche 2. Fleet Space has agreed to a 12-month voluntary escrow period.

Morgans Corporate Limited acted as Lead Manager to the Placement. A cash transaction cost of 3.9% of the Placement is payable.

In addition to the Placement, the Company will issue 11m accrued remuneration shares to Kincora’s board and senior management under the Equity Incentive Plan approved by shareholders.

Post the proposed issuances, Kincora’s total outstanding number of fully issued shared is anticipated to be 291.7m with 69m total options outstanding.

Use of Funds

The funds used from the Placement is intended to support:

(i) drilling and exploration at the Condobolin Project;

(ii) Ambient Noise Tomography (ANT) and gravity surveys at the Wongarbon Project with target refinement ahead of Fleet Space’s right to drill a minimum of 2000 metres to earn a 20% stake in the Project; and,

(iii) offering costs, working capital, new direct application license acquisition and general project generation opportunities.

The New Partnership

Fleet Space and Kincora have entered an agreement to commence multiphysics surveys at the Wongarbon Project with a path to asset level partnership:

1) Fleet Space will have a right to fund a minimum of 2,000m drill program, with drill targets:

• identified and refined from the multiphysics surveys using Fleet Space’s ExoSphere Discovery technology; and,
• mutually agreed by Kincora and Fleet Space.

2) An exercise of the right in 1) will entitle Fleet Space to a 20% equity interest in the Wongarbon Project.

3) The right in 1) may be exercised within 6 months of the completion of the multiphysics surveys.

4) Should Fleet Space exercise the right, the parties will enter into a Joint Venture Agreement (JV Agreement). Key principles governing the JV Agreement will be customary for such stage exploration project including both parties having the right to provide additional funding maintain their respective ownership interests and dilution provisions should either party not participate in additional project funding, noting that any holder of a project interest less than 10% will have its interest converted to a 1% Net Smelter Return (NSR) royalty.

Fleet Space is to be the operator of the multiphysics surveys, with support from Kincora, and Kincora the operator of the drilling program.

The multiphysics surveys will comprise real-time 3D Ambient Noise Tomography (ANT) and ground gravity surveys applying industry leading technology to generate and interpret new homogeneous and primary datasets via Fleet Space’s proprietary and vertically integrated technology stack, ExoSphere, and be integrated with existing regional geophysical surveys and geological data.

While interpretations are ongoing by Kincora, Fleet Space and AngloGold Ashanti the multiphysics surveys have confirmed and refined a regionally significant priority target ahead of imminent drilling. The surveys have also generated a number of previously unrecognised areas of interest and potential new target areas with a final review to integrate the results of the commenced drilling program results in conjunction with AngloGold Ashanti.

About the Wongarbon Project

Pegged as open ground and secured only in June 2024, the Wongarbon project (EL9652) covers 173km² and is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc:

• Regionally significant magmatic complex situated on the interpreted under cover extension of the northern Molong Belt coincident with an intrusive level cross arc structure supporting a series of large and untested porphyry targets.
• Clear analogues of the nearby complexes and existing Tier 1 deposits in the Arc and aeromagnetic signatures of other globally significant porphyry deposits.
• Previously identified as a large-scale new intrusive complex target by Newcrest but not drill tested at the time due to focus on the Cadia Far East and Ridgeway discoveries.
• Recent interpretations support immediate high priority targets for drilling.
• The Wongarbon project has never been drilled.

Alkane and Magmatic Resources’ have recently undertaken drilling at a total of seven porphyry targets along a common transverse structure that is interpreted to extend into the Wongarbon Project and be a key control to the 14.7Moz gold equivalent inventory at the Boda and Kaiser porphyry deposits ¹. These recent programs have been encouraging with follow up exploration either planned and/or ongoing at these and other regional targets ³.

Fleet Space has recently undertaken regional and infill ANT surveys at Alkane’s Northern Molong Porphyry Project (NMPP), including the Boda and Kaiser deposits, with analysis and interpretation ongoing. Similar Fleet Space surveys across the Macquarie Arc, including Kincora’s Nyngan Project, are noted as having refined and generated multiple new porphyry targets.

Further details on the Wongarbon Project, including a detailed project level presentation, are available at: https://kincoracopper.com/wongarbon-project/ (Projects/Wongarbon).

Further details on Kincora’s wholly owned, district scale project portfolio and drill ready copper-gold porphyry projects are available on the Company’s website: https://kincoracopper.com.

About Fleet Space Technologies

Fleet Space is private and widely recognised as Australia’s leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition, and AI to map mineral systems in real-time.

Fleet Space’s ExoSphere technology enables an end-to-end approach to high-quality data acquisition, processing, interpretation and targeting to streamline exploration and improve success rates for new economic discoveries.

Leveraging Fleet Space’s proprietary satellite network in low Earth orbit, smart seismic sensors enabled with edge computing and rapid data processing, ExoSphere delivers real-time 3D mapping of mineral systems and AI-powered drill targeting with near-zero environmental impact.

In the last quarter, Barrick Gold announced it would partner with Fleet Space to survey copper porphyry complexes across 1,150km² of the world-class Reko Diq project ⁴ and in the last month Gold Fields announced a similar relationship to advance exploration at the Salares Norte project in Chile ⁵.

Recently, Inflection Resources’ announced new targets generated by ExoSphere, leading AngloGold to accelerate their Exploration Agreement and drilling with Inflection ⁵. Inflection and Fleet Space have also recently announced the results of the world’s largest real-time ANT survey across 1818km², built an AI-powered district scale copper prospectivity map which, when integrated with other existing datasets (including airborne magnetics and gravity), has resulted in four new priority targets, three of which are within 2km’s of Kincora wider project portfolio in the northern Junee-Narromine Belt ⁶.

ExoSphere’s rapid global adoption has propelled Fleet Space’s exponential growth, including a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send a variant of ExoSphere to the Moon in 2026, and recognition as Australia’s fastest growing company ².

For more information please visit Fleet Space’s website at https://www.fleetspace.com.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed five agreements that unlock up to >A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to 10,000-30,000m pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com

References:
⁽¹⁾ Annual Resources & Reserves Statement FY24 – Alkane Resources Limited (ticker ALK.ASX) release September 4, 2024
⁽²⁾ According to the Australian Financial Review (2023)
⁽³⁾ 2Q’2024 Quarterly Activities Reports – Alkane Resources Limited and Magmatic Resources Limited (ticker MAG.ASX)
⁽⁴⁾ ANT geophysics defines additional epithermal-porphyry targets at Spur Project – Waratah press release May 23, 2024
⁽⁵⁾ Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie – Fleet and Inflection Case Study 2023
⁽⁶⁾ Completes 1,800Km² Ambient Noise Tomography Survey Across Portfolio of Projects in New South Wales – Inflection press release July 10, 2024
⁽⁷⁾ Fleet Space’s Exosphere Enhances Barrick Gold’s Data-Driven Copper Exploration at Reko Diq – Fleet Space press release July 9, 2024
⁽⁸⁾ Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile – Fleet Space release October 3, 2024
⁽⁹⁾ Inflection Resources Defines New Priority Targets Based on Results of Regional ANT Survey in New South Wales – Inflection press release September 12, 2024

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:
Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61 431 329 345

Executive office
400 – 837 West Hastings Street 
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722 Fax: 1.888.241.5996

Subsidiary office Australia
Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Person(s) for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement) and the Company is not aware of any new information or data which materially affect the information included in those prior reports and, in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Person(s) under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consent to the inclusion in this report of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for Kincora’s projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226763

Partner funded programs support ~11,000 metres drill testing up to thirteen large-scale copper-gold porphyry targets before year-end

Drilling commenced at the Nyngan Project with earn-in partner AngloGold Ashanti Australia (AngloGold Ashanti)

New district-scale potential with initially up to eight large intrusive complex targets to be drill-tested for the first time

Includes one existing high priority target covered by a Fleet Space Technologies Pty Ltd’s (Fleet Space) Ambient Noise Tomography (ANT) and gravity geophysical surveys with final interpretations pending

6 to 8 drill holes for 4000-5000 metres planned before year end

Kincora is managing the program and will receive a 10% management fee

First drilling program by Kincora in partnership with AngloGold Ashanti

Neighboring explorer drilling recommenced at the Duck Creek target adjacent to the Nyngan Project by Inflection Resources (Inflection) (in partnership with AngloGold Ashanti) following encouraging results, including intense hydrothermal alteration and sulphide mineralisation ~1.4km from license boundary 1

Second phase drilling program commenced at the Cundumbul Project by Exploration Alliance partner Earth AI Pty Ltd (Earth AI) with step out diamond drilling

5 drill holes for up to 3000 metres testing three targets scheduled to be drilled and reported before year end

Up to $4.5m to be spent by Earth AI and up to 3% royalty earnt upon new drilling discovery (qualifying intersection), with Kincora retaining 100% project ownership

Drilling commenced at the Bronze Fox Project in Mongolia by Woomera Mining Limited (Woomera) testing the potential for a shallower higher-grade structural zone and resource expansion drilling coupled with a second mining license conversion

Approximately 2250-3250 metres is planned before the winter year end break

Includes a 900m deep hole stepping out testing the up dip and higher grade potential within an interpreted structural corridor to previous hole F62 which returned 929m @ 0.37% CuEq, including 318m @ 0.53% CuEq and 37m @ 1.01% CuEq 2

Kincora is Woomera’s largest shareholder and retains attractive asset level exposure to the Bronze Fox Project via an earn-in and joint venture agreement

Further value enhancing deals are proposed

Review of new wholly owned Nevertire South Project confirms standout priority drill targets

Discussions with potential technical and funding partners are progressing

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to provide an exploration update with partner funded drilling programs commencing across three of Kincora’s portfolio of thirteen copper-gold projects and following a very favourable review of the newly secured Nevertire South Project.

The ramping up of these programs marks an exciting transition point in the Company’s strategy to create shareholder value through securing highly prospective projects in exploration and mining hotspots, executing deals with technical partners, securing partner funding to advance drilling and seeking to make globally significant discoveries.

Sam Spring, President and CEO of Kincora commented:

“Recent deals with four industry partners unlock up to $60 million of multi-year funding and we are transiting to a very exciting period with initial field activities now ramping up.

These deals provide clear technical endorsement of, and value parameters for, these and our other wholly owned Kincora projects.

Kincora shareholders now have immediate exposure to up to 11,000m of drilling before year-end across three projects and testing up to 13 large-scale porphyry targets.

Kincora continues to seek to work with existing and new technical and funding partners to apply industry leading exploration techniques to systematically advance and de-risk our highly prospective large-scale project pipeline of porphyry targets.

We are not finished. More deals, partnerships and projects with a clear value path are proposed.
Our recent review of the new Nevertire South Project has been extremely positive supporting what we believe is the most attractive geologically supported target in the covered extensions of the Macquarie Arc. Other comparable earlier stage and higher risk projects have recently attracted five partner deals and potentially over $300m in exploration expenditure.”

Standout drill targets at the new Nevertire South Project
(Macquarie Arc, Australia)

Pegged as open ground, Kincora recently secured three bolt-on licenses covering a total of 1,377km² (100% ownership), including the Nyngan West, Nyngan South and Nevertire South Projects. This creates a continuous north-south strike extent of over 100km of the Northern Junee-Narromine Belt (NJNB), including the Nyngan and Nevertire Projects – see Figure 1.

Of particular note was securing the Nevertire South Project (962km²), which consolidates the southern section of the Nevertire Magmatic Complex (NMC). Previous explorer drilling on the southern third of the NMC has returned anomalous mineralisation, favourable fertility, geochemical zonation and alteration confirming a copper-gold porphyry system setting with age dates confirming a prospective Phase 4 Macquarie Arc intrusive complex.

Figure 1: Existing geophysics and limited drilling to date supports Kincora and AngloGold Ashanti’s interpretation that the Northern Junee-Narromine Belt hosts the potential for multiple new composite volcanic and intrusive complexes with analogous aeromagnetic signatures and intrusive level cross arc structures to other Macquarie Arc porphyry complexes (eg Cadia, Cowal, Boda-Kaiser, Marsden etc)
The Macquarie Arc is a proven Tier 1 terrane and Australia’s foremost copper porphyry belt hosting a number of world-class mines in the southern, more exploration mature, of the Arc hosting over 160Moz gold equivalent endowment

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/225944_figure1.jpg

Kincora has recently secured three prior Newcrest drill holes from the Cadia mine site for the Nevertire South Project. Relogging of these holes has been undertaken by Kincora’s Technical Director, John Holliday, significantly upgrading the Project.

The review of these holes, we believe the first since that of Newcrest’s in 2006-09, supports Newcrest’s previous view that its limited drilling “has identified lithologies, alteration and veining consistent with a setting similar to the Cadia-Ridgeway and Goonumbla porphyry Cu-Au deposits” ³.

Subsequent age dates have confirmed an analogous setting to the Cadia and Northparkes/ Goonumbla deposits. Kincora’s review confirms that the best of these prior holes (ACDNY006) has not been followed up despite a very encouraging intersection of anomalous copper mineralisation (from basement to end of hole), veining and magnetite alteration situated in a highly prospective high volcanic-hosted level.

In Kincora’s view this supports Nevertire South being the most advanced porphyry project and most attractive geologically supported target in the covered northern extension of the Macquarie Arc, and noting an untested strike for over 8km from these favorable prior drill results within the NMC. A priority drill program has been designed, including the ambition to either discover or create a vectoring pattern to a possible deposit stepping out from ACDNY006.

Earlier stage targets in the Macquarie Arc have recently attracted five major earn-in/option and joint venture agreements supporting potentially over $300 million in exploration and development expenditure, including the recent option and joint venture agreements between Gold Fields and privately owned Gold & Copper Resources ⁴.

Discussions with potential technical and funding partners are progressing.

For further details and technical disclosures refer to the following Kincora release:

• September 9^th, 2024, “Kincora Secures New Strategic Ground On Australia’s Premier Porphyry Copper-Gold Province”

AngloGold Ashanti earn-in and joint venture agreement for the Nyngan and Nevertire Projects(Macquarie Arc, Australia)

The Nyngan Project was the first ground Kincora secured in NSW with regional geophysics strongly indicating the potential to hosts the largest volcano-intrusive complex of the Macquarie Arc (existing metal endowment of over 160Moz gold equivalent ⁵) and offering a new district-scale setting. Limited prior drilling activities have taken place, and are confined to the southern portion of the Project.

In May 2024, Kincora signed a definitive multiple-phase Earn-in and Joint Venture Agreement over the Nyngan and Nevertire licences with a wholly owned subsidiary of AngloGold Ashanti plc (NYSE: AU), the world’s fourth largest gold miner by production, which has a successful track record for Greenfields discovery success.

AngloGold Ashanti has the right to spend up to A$50 million to earn an 80% interest through:

• A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
• Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn an 80% joint venture interest (Phase II).

Figure 2: Fleet Space’s ANT and gravity surveys have covered a regionally significant priority drill target previously and separately identified by Kincora, AngloGold Ashanti and Fleet Space within the northern “Ace of Spades” region of the Nyngan Project. This target is to be very shortly drill tested as part of the first ever copper-gold focused drilling program within this region. As part of a permitted drill program for up to 16 holes, a 6 to 8-hole for an estimated 4000-5000m program is budgeted before year-end with earn-in partner AngloGold Ashanti
Kincora and Inflection’s recent real-time Fleet Space ANT surveys have generated a number of new, previously unrecognised potential target areas that are currently being reviewed

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/225944_figure%202.jpg

The mobilised drilling program is focused within the northern portion of the Nyngan Project and the “Ace of Spades” region testing a wide range of untested, large intrusive-related copper-gold targets – see Figure 2.

The program will comprise cost-effective mud-rotary drilling through the post mineral cover sequence with diamond core drilling upon refusal and testing of the targeted basement. The program seeks to confirm the potential for a series of new Macquarie Arc intrusive complexes and provide vectors for follow up drilling.

Kincora notes neighbouring explorer drilling by Inflection has just recommenced at the Duck Creek target adjacent to the Nyngan Project (also in partnership with AngloGold Ashanti). This follows encouraging results, including intense hydrothermal alteration and sulphide mineralisation ~1.4km from license boundary in hole DCKDH020 ¹ – see Figure 2.

Inflection has reported hole DCKDH020 returned a broad zone of elevated copper (max 788ppm) and arsenic values average 43.9ppm over a 448.5m interval (max 212ppm) noting these are “highly anomalous as 200m to 500m from the Cadia Ridgeway ore body (Newmont Corporation) reports arsenic in the 20ppm to 30ppm range and copper in the 200ppm to 300ppm range.” DCKCDH020 is being followed up with a number of step-out drills to explore for a possible porphyry source for the alteration and geochemical data ¹.

For further details and technical disclosures refer to the following Kincora releases:

• August 14^th, 2024, “Kincora and AngloGold Ashanti’s First Drilling Program”
• May 28^th, 2024, “AngloGold Ashanti to earn-in to the NJNB Project”

Fleet Space proprietary geophysical partnership for the Nyngan Project
(Macquarie Arc, Australia)

Fleet Space was Australia’s fastest growing company in 2023 ⁶ and is widely recognised as Australia’s leading space exploration company. Fleet Space seeks to revolutionise mineral exploration with its vertically integrated technology stack, ExoSphere, which combines the latest advances in satellite connectivity, 3D multiphysics data acquisition, and AI to map mineral systems in real-time.

Kincora, in partnership with Fleet Space, has recently completed Fleet Space’s first ever integration of Ambient Noise Tomography (ANT) and ground gravity geophysical surveys within a portion of the “Ace of Spades” region of the Nyngan Project – see Figure 2.

The surveys cover a regionally significant priority drill target previously and separately identified by Kincora, AngloGold Ashanti and Fleet Space, with final interpretations of the surveys pending.

Within the immediate district Fleet Space has recently completed the world’s largest real-time ANT copper survey with Inflection Resources, undertaken a total of four project level surveys (including for Waratah’s Spur Project, Inflection’s Duck Creek Project and Alkane’s Boda-Kaiser deposits) and built a proprietary AI-powered district scale copper prospectivity map. The Fleet Space surveys complement Kincora and AngloGold Ashanti’s earn-in and joint venture agreement and exploration approach.

For further details and technical disclosures refer to the following Kincora releases:

• July 25^th, 2024, “ANT and Gravity Geophysical Surveys at the Nyngan Project”

Earth AI success based Exploration Alliance for the Cundumbul Project
(Macquarie Arc, Australia)

Earth AI is a private Artificial Intelligence (AI) and Machine Learning explorer that has a vertically integrated approach to targeting, testing and verifying new critical mineral discoveries.

Earth AI is the operator of the Exploration Alliance for the Cundumbul Project and has the right to contribute up to $4.5m of total exploration expenditure over a three-year period (having recently exercised an option for an additional year).

Subject to a minimum of 1,500 metres of diamond drilling (already satisfied) and a Qualifying Drilling Intersection resulting in a new discovery (as defined within the Exploration Alliance Agreement), Earth AI is entitled to a Net Smelter Royalty (NSR) of up to 3% in connection with a to be agreed upon area surrounding the discovery (Area of Interest, size dependent on the extent of the newly discovered mineral system). Kincora retains 100% ownership of the Project.

Field mapping, soil and rock chip sampling by Earth AI has identified a new 2.2km x 800m copper target in the central portion of the Cundumbul license with an ongoing multiple phase drilling program seeking to test three separate targets across a 750m strike associated with a zoned hydrothermal quartz breccia system (a key geological marker at the Boda-Kaiser deposits to the north in the same volcanic belt of the Macquarie Arc).

For further details and technical disclosures refer to the following Kincora releases:

• May 20, 2024, “Exploration Alliance partner Earth AI drilling commenced at the Cundumbul project”
• October 6^th, 2022, “Alliance with Artificial Intelligence Explorer for Cundumbul project”

Woomera earn-in and joint venture agreement for the Bronze Fox Project
(Southern Gobi, Mongolia)

Following a successful strategic review process for Kincora’s Mongolian assets, a definitive Earn-In Implement Agreement (EIA) was signed on September 30^th, 2024, with ASX listed Woomera Mining Limited (Woomera, ASX ticker “WML”).

Woomera is a funded, successful and motivated partner with Kincora retaining attractive exposure to the Mongolian assets by becoming Woomera’s largest shareholder and with an earn-in and carry/bullet payment and NSR model.

Woomera has commenced a maiden drilling program with a three-pronged approach:

1. Confirmation of a shallower, higher grade corridor: a single diamond drill hole for up to 900m depth is designed to confirm new high grade discovery potential within an open structural zone associated with a series of four prior drill holes which all returned intervals of over 1% copper, including prior hole F62 which returned 929m @ 0.37% CuEq including 318m @ 0.53% CuEq and 37m @ 1.01% CuEq ².

Woomera’s designed hole seeks to test an open western strike for potential higher grades at shallower levels than prior drilling associated with a mapped vein corridor coincident with Induced Polarisation (IP), gravity and magnetic anomalies.

Given the spacing and depth of the higher grade mineralisation returned in the series of four prior holes is excluded from the existing JORC Mineral Resource Estimate and the designed hole has the potential to demonstrate significant upside potential in volume and grade of the existing resource if successful.

2. Expand existing shallow resource inventory: infill and expansion drilling is planned on the western higher-grade trend to the existing JORC Resource of 194Mt at 0.26% CuEq ². The program is expected to increase both the tonnage and grade of the existing resource if successful.
3. Securing mining licence: infill and expansion drilling is expected to be sufficient to satisfy the criteria needed to secure a mining license on the western exploration license, in addition to the existing mining license on the eastern license. Securing the second mining license would provide a minimum of 30-year security of tenure across the full Bronze Fox project, that covers ~175km² and includes three large and near surface intrusive complexes.

For further details and technical disclosures refer to the following Woomera releases:

• September 30^th, 2024, “Woomera to Commence Drilling at Bronze Fox Project”
• August 20^th, 2024, “Prospectus”

References:

¹ Inflection Resources Provides Drilling Update from Phase II Duck Creek Exploration Program in New South Wales – press release October 3, 2024

² Kincora Copper ASX Announcement: Mineral resource and updated exploration target for Bronze Fox, July 26^th 2022 and Woomera Mining ASX Release: Woomera secures advanced copper / gold project in world-class Mongolian Copper Belt, August 12^th, 2024

³ Newcrest Mining Limited final annual report (2009) for EL6337 (open file)

⁴ Gold Fields H1 2024 Results – August 23, 2024

⁵ Sourced from MinEx Consulting for Kincora

⁶ According to the Australian Financial Review (2023).

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries. The company recently executed four agreements that unlock up to A$60 million in multiple year partners funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scalable drill-ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting initial exposure to up to 10,000m of drilling before year-end 2024 before ramping up to over 30,000 metres pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:
Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 
400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia
Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Person(s) for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement) and the Company is not aware of any new information or data which materially affect the information included in those prior reports and, in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Person(s) under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consent to the inclusion in this report of the matters based on the information in the form and context in which it appears. The review and verification process for the information disclosed herein for Kincora’s projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225944

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased have executed final agreements that provide Woomera, an arms length and unrelated party, the right to earn into the Company’s wholly owned Mongolian subsidiaries and thereby obtain exposure to the Company’s Bronze Fox copper-gold project, located in the world-class and rapidly emerging Southern Gobi copper belt.

All requisite approvals and conditions precedent have now been met and include:

• The finalisation of the second tranche of Woomera’s $1.7m capital raising via shareholder approval on September 25^th, 2024 (with a further Share Purchase Plan taking place);
• Both parties entering into a final Earn-in Implementation Agreement (“EIA”, executed September 29^th, 2024) to reflect the terms of Woomera’s operations of the Bronze Fox project with all shareholder and regulatory approvals now met;
• Drilling to now shortly commence for an initial 2250-3250m diamond core program planned before year end, targeting a shallower higher-grade structural zone, to also increase the existing resource base and supporting an application for a second mining license for the full Bronze Fox project; and,
• The issue of 180m shares reflecting $450,000 in scrip consideration and 180m options exercisable at $0.005 expirying July 31^st, 2026 to Kincora (the same terms as the recent Woomera capital raising), with Kincora becoming the largest shareholder in Woomera.

Sam Spring, President and CEO of Kincora, stated,

“As Woomera’s largest shareholder and retaining a very attractive asset level exposure we are very excited to be entering what we expect to be a transformational period with a high impact drilling program to commence in early October.

This program is expected to achieve a number of very significant value catalysts and highlight Bronze Fox’s strategic value as the fourth major porphyry district in the world-class Southern Gobi copper belt.”

About Woomera

Woomera Mining Limited (ASX: WML) (Woomera) is an Australian public exploration company with a mandate for large scale new discovery opportunities backed by a team and shareholder register with very considerable prior successes.

In Australia, Woomera has a portfolio of assets prospective for battery metals (lithium nickel, copper + PGEs) and gold in the Ravensthorpe Yilgarn and Ashburton areas of Western Australia plus the Musgrave Province in South Australia, along with copper-gold mineralisation in the Gawler Craton of South Australia.

For more information, please visit Woomera’s website at https://www.woomeramining.com.au.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed four agreements that unlock up to A$60 million in multiple year partner funding. Further deals and new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to initially 10,000 and then 30,000m+ pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact
Kincora Copper Limited Sam Spring, President and Chief Executive Officer +61431 329 345	Cerberus Advisory Duncan Gordon, Executive Director +61404006444
Kincora Copper Limited
Executive office 400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1722, Fax: 1.888.241.5996	Subsidiary office Australia Vista Australia Level 4, 100 Albert Road South Melbourne, Victoria 3205

Disclaimer and Previously Reported Information

The scientific and technical information this announcement is extracted from reports lodged as market announcements referred to above, quarterly reports, project summaries and are available on the Company’s website www.kincoracopper.com .The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225009

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (KCC, Kincora or the Company). Please find attached for release to the market, Kincora Copper Limited’s Investor Presentation – September 2024.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763).

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222782

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (KCC, Kincora or the Company) is pleased have been awarded the Nyngan West, Nyngan South and Nevertire South projects located within the northern under cover extensions of the Macquarie Arc, in central west NSW, Australia.

Sam Spring, President and CEO of Kincora commented:

“Kincora’s strategy to create shareholder value is through obtaining the best ground, concluding commercial deals and making large scale copper-gold discoveries. Recently we have attracted four industry partners and unlocked up to A$60m of multi-year funding.

We are very pleased to have opportunistically secured three bolt-on new projects covering 1,377km² with clear scale potential and strategic value, now providing Kincora a continuous north-south strike extent of over 100km in the NJNB.

This new ground is adjacent to and on the interpreted extensions of the Nyngan and Nevertire projects where maiden partner funded ground geophysical surveys are already ongoing with Fleet Space, and maiden drilling activities are shortly ramping up in partnership with and funded by AngloGold Ashanti at Nyngan.

The Company and our existing partners are very excited to commence the first ever copper-gold exploration across potentially the largest volcano-intrusive complex of the Macquarie Arc at northern Nyngan, which offers new district scale potential.

Kincora continues to build and advance our project pipeline, exploring further partnerships. In particular, securing the advanced and highly prospective Nevertire South ground in our view significantly enhances our Nevertire project and NJNB portfolio.”

New wholly owned projects

Pegged as open ground, Kincora has been awarded new exploration licenses covering a total of 1,377km² (100% ownership) including the Nyngan West, Nyngan South and Nevertire South projects – see Figures 1 to 3.

The new licenses are opportunistic new bolt-on projects with clear scale and value path, doubling Kincora’s land position in the NBJB. The NBJB is one of the two major volcanic belts of the Macquarie Arc, where regional magnetics has proven to be effective in mapping the key belts and major intrusive complexes.

The new licenses provide Kincora a continuous north-south strike extent of over 100km in the interpreted shallow to moderate depth sections of the under cover extension of the Macquarie Arc. The new licenses also consolidate the extensions of intrusive complex targets included in the existing earn-in partnership with AngloGold Ashanti.

Regional geophysics strongly indicates that Kincora’s Nyngan license has the potential to host the largest volcano-intrusive complex of the Macquarie Arc, which is currently almost untested with drilling to commence within the month in partnership with AngloGold Ashanti.

Kincora’s portfolio and the wider NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, gravity and new ANT surveys, supportive of large-scale targets analogous to porphyry deposits located in the southern section of the Macquarie Arc which host an existing >160Moz gold equivalent endowment (see Figure 2) ¹.

To help emphasis the true new district scale potential of the Company’s NJNB portfolio, the total AngloGold Ashanti earn-in and Kincora wholly owned project portfolio now covers a strike length that is twice that of the rapidly emerging Vicuña porphyry district (see Figure 2).

Within the Vicuña district, NGEx Resources Inc in 2009 held three early-stage exploration projects that, at the time, supported a market capitalisation of approximately C$40 million ². These same projects are all still at a pre-development phase but have yielded four large-scale discoveries currently valued at over C$8.5 billion after the corporate transactions involving BHP and Lundin Mining last month ^{2, 3}.

Of particular note, the new Nevertire South project (962km²) is considered highly prospective and consolidates the ~8 x 12km Nevertire Magmatic Complex, the northern third held in Kincora’s existing partnership with AngloGold Ashanti (see the insert in Figure 2).

Prior explorer drilling at the southern section of the Nevertire Magmatic Complex (within the Nevertire South project) has returned anomalous copper-gold mineralisation, favourable fertility defined by green rock analysis, geochemical zonation and alteration suggestive of an outer porphyry system setting with age dates confirming a highly prospective Phase 4 Macquarie Arc intrusive complex (at approximately 220m depth down hole). This supports Nevertire South being the most advanced porphyry project within the NJNB district (see Figure 4), situated under potentially only 100 metres of cover and enhancing the value of the adjacent Nevertire project.

Kincora has recently secured three prior exploration drill holes from the Nevertire South project with relogging planned as discussions with potential technical and funding partners progress.

About the NJNB Project Portfolio

The Macquarie Arc is Australia’s premier porphyry copper-gold province and the undercover extensions of the Arc are a globally significant exploration opportunity offering new district(s) scale discovery potential. The region has recently attracted five major earn-in/option and joint venture agreements supporting potentially over $300 million in exploration and development expenditure, including the recent option and joint venture agreements between Gold Fields and privately owned Gold & Copper Resources ⁴.

The most recent notable example of a new emerging globally significant porphyry district is the Vicuña district in the central Andes in Argentina on the border of Chile, which is largely consolidated by Lundin group entities and BHP and situated at over 4000m altitude. Within this district NGEx Resources Inc in 2009 held three early stage exploration projects and at the time had a market capitalisation of approximately C$40 million. These same projects are all still at a pre-development phase but have yielded in four large-scale discoveries currently valued at over C$8.5 billion (see Figure 2).

Regional geophysics strongly indicates that the largest sections of the Macquarie Arc still remain untested under post mineral cover within the NJNB. Kincora was the early entrant securing a district scale position in the interpreted shallow to moderate covered core sections of this region by pegging Nyngan and Nevertire (covering now 939 km²).

Post securing AngloGold Ashanti as a partner for the Nyngan and Nevertire projects, Kincora has opportunistically secured (on a 100% ownership basis) the Nyngan West, Nyngan South and Nevertire South projects (covering 1,377 km²) which are viewed as hosting shallow to moderate covered sections of the targeted Macquarie Arc and the extensions of intrusive complex targets included in the existing earn-in partnership with AngloGold Ashanti.

Kincora seeks to continue to systematically advance its project pipeline within the under cover extension of the Macquarie Arc and bring in funding and technical partners.

About the AngloGold Ashanti Partnership

Kincora has an initial multiple-phase Earn-in and Joint Venture Agreement with AngloGold Ashanti for the Nyngan and Nevertire licenses ⁵.

AngloGold has the right to spend up to A$50 million to earn a 80% interest through:

• A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
• Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn a 80% joint venture interest (Phase II).
• Under the agreement a wide range of untested large intrusive-related copper-gold targets will be drill tested seeking to confirm the potential for a new district of copper-gold porphyry system complexes.

AngloGold Ashanti is the world’s fourth largest gold miner by production with a successful track record for new Greenfield discovery success. Within the Macquarie Arc, AngloGold Ashanti has secured Earn-in and Joint Venture Agreements with both Kincora and Inflection Resources (Inflection, ticker “AUCU.CSE”) covering greater than 8,000km² in the NJNB.

Subject to permitting, access and weather conditions Kincora and AngloGold Ashanti’s first drilling program is anticipated to commence within the month. The program seeks to test new district-scale potential with up to eight large intrusive complex targets to be drill-tested for the first time in this initial first phase program. Approximately 6 to 8 drill holes for an estimated 4000-5000 metres are budgeted to be complete before the summer break ⁶.

Figure 1: The new Nyngan West, Nyngan South and Nevertire South projects are adjacent to and the interpreted extensions of the Nyngan and Nevertire projects where maiden partner funded ground geophysical surveys are already on-going with Fleet Space and maiden drilling activities are shortly ramping up in partnership with and funded by the AngloGold Ashanti earn-in agreement for the Nyngan project

Kincora continues to secure the best ground, do deals and drill, testing targets that offer Tier-1 copper-gold scale potential

Recently in the district there have been earn-in/option and joint venture agreements focused on porphyry exploration by AngloGold Ashanti (with Kincora and Inflection Resources), Gold Fields (with Gold & Copper), FMG (with Magmatic) and S2 Resources (with Legacy Minerals) supporting potentially over $300 million in exploration expenditure

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/222613_aac1627684c97809_001full.jpg

Figure 2: Kincora’s portfolio in the Northern Junee-Narromine Belt (including in partnership AngloGold Ashanti and Kincora wholly owned ground) now covers a continuous strike of over 100km, twice that of the rapidly emerging Vicuña porphyry district

Kincora and its partners are seeking to confirm new district scale potential of the under cover extensions of the Macquarie Arc, which in the out/sub-cropping sections of the Arc host multiple world-class mines and a metal endowment of over 160M oz gold equivalent

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/222613_aac1627684c97809_002full.jpg

Figure 3: Kincora has recently secure three prior explorer drill holes for the Nevertire South project with relogging planned as discussions with potential technical and funding partners progress

Kincora has recently obtained from the Cadia mine site diamond core farm three prior Newcrest drill holes, one of which confirms a highly prospective Phase 4 Macquarie Arc intrusive complex. These are in addition to other earlier holes being available at the WB Clarke Geoscience Centre Londonderry drillcore library.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/222613_aac1627684c97809_003full.jpg

About Fleet Space Technologies Partnership

In July 2024, Kincora formed an initial partnership with Fleet Space for a three phase ANT and gravity geophysical survey at the Nyngan project ⁷. These surveys commenced in early August, are ongoing and progressing well.

The initial ANT survey is planned to cover an area of approximately 35 km² across the northern Nyngan license area with a proposed infill area of approximately 9 km². Similar to other Fleet Space surveys in the district, the ANT velocity model is anticipated to image down to 1900m depth with the ground gravity surveys to provide the first cover-corrected gravity dataset in the area.

The rapid turnaround from completion of the surveys to interpretation of results is enabled by the real-time ANT data acquisition capabilities of Fleet Space’s end-to-end mineral exploration solution, ExoSphere. Utilising Fleet Space’s proprietary satellite constellation, ExoSphere’s smart seismic sensors (Geodes) transmit high-quality 3D ANT data from the project to the satellites which is then processed into actionable insights in real-time. Leveraging the benefits of satellite connectivity, rapid 3D subsurface imaging, and AI – ExoSphere streamlines data acquisition, processing, integration and interpretation while optimising data quality to enhance the precision of drill hole targeting.

Fleet Space is Australia’s leading space company and is seeking to revolutionise humanity’s search for critical minerals, space exploration, and defence with its satellite-enabled solutions and AI-powered, end-to-end mineral exploration technology, ExoSphere.

ExoSphere’s end-to-end architecture unlocks new insights and predictive capabilities at every stage of the exploration journey to streamline operations, optimise success rates, and enable explorers to allocate resources to opportunities faster while minimising environmental footprint.

Figure 4: New Intrusive Complex pipeline in the Macquarie Arc

The Phases, Pipeline and Partnerships to Discovery: Gold & Copper, Kincora, Inflection, Alkane, FMG, Magmatic, Talisman & S2 all drilling

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/222613_aac1627684c97809_004full.jpg

¹ Magmatic Resources, Project in partnership with FMG – March 8, 2024 press release
² Kincora Secures New Strategic Ground On Australia’s Premier Porphyry Copper-Gold Province – September 9 2024 release
³ Inflection Resources, Provides drilling update from Phase 1 Exploration Program -July 31 2024 release
⁴ Magmatic Resources, Gold-copper footprint expands significantly at Lady Ilse – July 24, 2024 release
⁵ Alkane Resources, NMPP Regional Exploration Update – June 21, 2024
⁶ Inflection Resources, Project in Stage II partnership with AngloGold – May 2, 2024 release
⁷ Kincora Copper, AngloGold Ashanti to earn-in to the NJNB Project – May 28, 2024 release
⁸ S2 Resources, Drilling Commences Targeting Porphyry Cu-Au at Glenlogan – July 18, 2024 release
⁹ Kincora Copper, New Major, Completely Unexplored Porphyry Complex Secured – June 3, 2024 release
¹⁰ Talisman Mining, Acquires the Yarindury Porphyry Cu-Au Project, NSW – August 5, 2024 release
 

Leveraging Fleet’s satellite network in low Earth orbit, smart seismic sensors enabled with edge computing, and rapid data processing. ExoSphere delivers real-time 3D mapping of mineral systems and AI-powered drill targeting with near-zero environmental impact. This process enables a faster and more efficient end-to-end data journey, making exploration activities more dynamic and precise by giving onsite teams access to actionable insights in real-time.

In the last quarter, Barrick Gold announced their partnership with Fleet Space to survey copper porphyry complexes and groundwater systems across 1,150km² of the world-class Reko Diq project ⁸.

Fleet Space and Inflection also conducted the world’s largest real-time ANT copper survey across 1818 km² and built an AI-powered district scale copper prospectivity map ⁹. The new targets generated by ExoSphere led AngloGold Ashanti to accelerate their Exploration Agreement and drilling with Inflection ¹⁰.

ExoSphere’s rapid global adoption has propelled Fleet Space’s exponential recent growth, including a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send a lunar variant of ExoSphere’s Geode to the Moon in 2026, and recognition as Australia’s fastest growing company by the Australian Financial Review (2023).

For more information please visit Fleet Space’s website at https://www.fleetspace.com.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries. The Company has recently executed four agreements that unlock up to A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scalable drill-ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively.

The Company is targeting initial exposure to 10,000m of drilling in the next 6-month before ramping up to over 30,000 metres pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com

References:

¹ Sourced from MinEx Consulting for Kincora
² NGEx Minerals Corporate Presentation (July 2024) and market values as at August 31, 2024 (from peer transactions and TSXV market capitalisation)
³ Lundin Mining and BHP to Acquire Filo and Form a 50/50 Joint Venture to Progress the Filo del Sol and Josemaria Projects – BHP and Lundin Mining press releases July 29, 2024
⁴ Gold Fields H1 2024 Results – August 23, 2024
⁵ AngloGold Ashanti to earn-in to the NJNB Project – Kincora press release May 28, 2024
⁶ Kincora and AngloGold Ashanti’s first drilling program – Kincora press release August 14, 2024
⁷ANT and Gravity Geophysical Surveys at the Nyngan Project – Kincora press release July 25, 2024
⁸ Fleet Space’s Exosphere Enhances Barrick Gold’s Data-Driven Copper Exploration at Reko Diq – Fleet Space press release July 9, 2024
⁹ Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie – Fleet Space and Inflection Case Study 2023
¹⁰ Inflection Resources Completes 1,800 Km2 Ambient Noise Tomography Survey Across Portfolio of Projects in New South Wales – Inflection release July 10, 2024

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Trundle, Fairholme, Nyngan, Nevertire and Condobolin projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222613

Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to be participating in the Sharewise Webinar to be held today, Thursday August 15^th, from 1:30pm Australian Eastern Standard Time (AEST).

President & CEO Sam Spring will provide investors and shareholders an update on Kincora’s asset portfolio, partner and corporate strategy outlining recent milestones, upcoming catalysts and with the opportunity for Q&A. A copy of the presentation is available at: https://images.newsfilecorp.com/files/2305/220005_664006_kincora_copper_participation_in_the_sharewise_webinar.pdf

This webinar can be viewed live via Zoom. Registration is free and available at:
https://zoom.us/webinar/register/1917231614965/WN_3nN-VZ0lRpucefIyqLI2AA

A recorded copy of the webinar will be made available following the event on Kincora’s website (https://kincoracopper.com/interviews/ ) and Sharewise’s YouTube (https://www.youtube.com/@sharewiseau ).

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

About Kincora Copper Limited

Kincora is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries. The company recently executed four agreements that unlock up to A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scalable drill-ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting initial exposure to 10,000m of drilling in the next 6-month before ramping up to over 30,000 metres pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com.

For further information please contact:

Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office

400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia

Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220005

Kincora Copper Limited (TSXV: KCC) (ASX: KCC), (Kincora or the Company) is pleased to outline plans for the next chapter of copper-gold focused drilling in the Macquarie Arc, Central West New South Wales (NSW) with a first program in partnership with and funded by AngloGold Ashanti to shortly commence at the Nyngan Project.

Sam Spring, President and CEO of Kincora, commented:

“We are very excited by the potential of the Northern Junee-Narromine belt where we are seeking not to just confirm a new significant porphyry Cu-Au deposit but a new district and series of discoveries. The strategic appeal and value of a new porphyry district has been clearly illustrated in the Vicuña district with corporate activities by BHP and Lundin Mining this month supporting over C$8 billion of value being recognised for a cluster of four new major discoveries.

Recent planning and targeting activities with our partner AngloGold Ashanti has significantly expanded the number of targets, the drilling activities needed and planned to test a series of major and previously undrilled interpreted magmatic complex targets at the Nyngan Project.

Initially we are aiming to test up to eight new major intrusive system complex targets before year end in this first phase program which focuses on the very compelling northern Nyngan “Ace of Spades” region.

Recent neighbouring explorer drilling is also supporting the potential of a series of Macquarie Arc intrusive complexes to the immediate east of the “Ace of Spades” target area along a potentially important common transverse structure providing further encouragement to the potential of a new porphyry district scale opportunity.”

Background

The undercover extensions of the renowned Macquarie Arc porphyry copper-gold geology are globally significant exploration opportunities offering new district(s) scale discovery potential. The region has attracted four earn-in and joint venture agreements in the last 12 months supporting potentially over $200 million in exploration and development expenditure.

The most recent notable example of a new emerging globally significant porphyry district is the Vicuña district in the central Andes in Argentina on the border of Chile, which is largely consolidated by Lundin group entities and BHP and situated at over 4000m altitude ¹.

Within this district NGEX Resources Inc in 2009 held three early-stage exploration projects and, at the time, had a market capitalisation of approximately C$40 million. These same projects are all still at a pre-development phase but have yielded four large-scale discoveries currently valued at over C$8 billion ².

In comparison, the central west of NSW benefits from multiple world-class mines, existing infrastructure, high-quality publicly available exploration data and an existing mineral endowment of over 160 million gold equivalent ounces ³. Regional geophysics strongly indicates that Kincora’s Nyngan license hosts the largest volcano-intrusive complex of the Macquarie Arc, which is almost untested, offering new district scale potential.

Kincora, as the early entrant, has secured a district scale position in the interpreted shallow-to-moderate covered core sections of the Northern Junee-Narromine Belt (NJNB) by pegging Nyngan and Nevertire which are now in partnership with AngloGold Ashanti ⁴.

The imminent first-ever drilling program at the northern portion of the Nyngan Project will focus on the “Ace of Spades” region and test a wide range of untested, large intrusive-related Cu-Au targets. The program seeks to confirm the potential for a series of new Macquarie Arc intrusive complexes and provide vectors for follow up drilling – see Figure 1.

Subject to permitting, access and weather conditions, the drilling program is anticipated to commence from mid September and will continue until the summer break, comprising up to eight holes for an estimated 4000-5000 metres.

Recent planning and targeting activities with our partner AngloGold Ashanti have significantly expanded the number of targets, the drilling necessary to test a series of major and previously-undrilled interpreted magmatic complex targets at the Nyngan Project. This first program will test the potential for up to eight separate large intrusive complex targets.

The program will comprise cost-effective mud-rotary drilling through the post mineral cover sequence with diamond core drilling upon refusal and testing of the targeted basement.

Kincora is managing the exploration program and will receive a 10% management fee as the program is funded by AngloGold Ashanti via the up to $50 million earn-in and joint venture agreement for the Nyngan and Nevertire Projects.

These drill targets include an existing high priority large intrusive complex target, which is currently the focus of Fleet Space’s ongoing Ambient Noise Tomography (ANT) and gravity geophysical surveys within the northern portion of the Nyngan Project ⁵. 

Figure 1: District-scale series of major and untested magmatic complex targets with in the northern Nyngan “Ace of Spades” region that potentially represent the largest volcano-intrusive complex of the Macquarie Arc.
 Kincora is managing the exploration program and will receive a 10% management fee

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/219846_kincora.jpg

The geophysical surveys are seeking to map and refine the interpretation of the paleo-surface and basement rocks and refine modeling of the targeted alteration, intrusions and structures.

Recent neighbouring exploration drilling by Inflection Resources (“Inflection”) is further supporting the potential of a series of Macquarie Arc intrusives to the immediate east of the “Ace of Spades” target area at Nyngan. Inflection has announced encouraging results at the Canonba target situated on the license boundary to the Nyngan Project, and located approximately 5km from its Duck Creek target, which is a Phase 2 designated project with its earn-in and joint venture partner AngloGold Ashanti ⁶. The Canonba, Duck Creek and Ace of Spades target areas potentially host important common transverse structures providing further encouragement about the potential of a new district-scale porphyry opportunity.

About the Nyngan Project

The Nyngan license (Exploration Licence 8929) was the first ground Kincora secured in NSW. It is a large 762km² direct application tenement granted by the NSW State Government covering a significant portion of the interpreted under cover section of the northern Junee-Narromine Belt ⁷. The Junee-Narromine Belt is one of the two largest belts of the Macquarie Arc, Australia’s foremost porphyry belt, which hosts a mineral endowment of over 160 million gold equivalent ounces.

The license hosts limited, but encouraging, prior explorer drilling that has been inadequately followed up, with regional geophysics supporting a new potential district-scale setting hosting interpreted, large-scale, intrusive complex targets.

In May 2024, Kincora signed a definitive multiple-phase Earn-in and Joint Venture Agreement (Agreement) over the Nyngan and Nevertire licences with a wholly owned subsidiary of AngloGold Ashanti plc (NYSE: AU) (JSE: ANG), the world’s fourth largest gold miner by production, which has a successful track record for Greenfields discovery success.

AngloGold Ashanti has the right to spend up to A$50 million to earn an 80% interest through:

• A$25 million of exploration expenditure to earn a 70% joint venture interest (Phase I) including a minimum A$2 million expenditure obligation, with Kincora the initial operator for a 10% management fee.
  
• Completion of a Pre-Feasibility Study (PFS) or funding of a further $25 million of expenditure to earn a 80% joint venture interest (Phase II).

In July 2024, separate to the Agreement with AngloGold Ashanti, Kincora formed a partnership with Fleet Space Technologies Pty Ltd (Fleet Space) to undertake Ambient Noise Tomography (ANT) and gravity geophysical surveys under a research and development grant at the Nyngan Project.

Within the immediate district Fleet Space recently completed the world’s largest ANT survey, undertaking a number of project-specific surveys that defined multiple new targets and built a proprietary AI-powered district-scale copper prospectivity map ^8,9,10.

The Fleet Space surveys are anticipated to complement Kincora and AngloGold Ashanti’s planned exploration and upcoming drilling.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries. The company recently executed four agreements that unlock up to A$60 million in multiple year partner funding. Further new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scalable drill-ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting initial exposure to 10,000m of drilling in the next 6-month before ramping up to over 30,000 metres pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com

References:

¹ Lundin Mining and BHP to Acquire Filo and Form a 50/50 Joint Venture to Progress the Filo del Sol and Josemaria Projects – BHP and Lundin Mining press releases July 29, 2024

² NGEX Minerals Corporate Presentation (July 2024) and market values as at July 29, 2024 (from peer transactions and TSXV market capitalization)

³ Sourced from MinEx Consulting for Kincora

⁴ AngloGold Ashanti to earn-in to the NJNB Project – Kincora press release May 28, 2024

⁵ ANT and Gravity Geophysical Surveys at the Nyngan Project – Kincora press release July 25th, 2024

⁶ Inflection Resources provides drilling update from Phase 1 Exploration Program in NSW – Inflection press release July 30th, 2024

⁷ Kincora secures strategic license in Australia’s leading porphyry belt – Kincora press release November 21, 2019

⁸ ANT geophysics defines additional epithermal-porphyry targets at Spur Project – Waratah press release May 23, 2024

⁹ Reimaging porphyry copper exploration using Exosphere: Ambient Noise Tomography from the Duck Creek project, Macquarie Fleet and Inflection Case Study 2023

¹⁰ Completes 1,800Km² Ambient Noise Tomography Survey Across Portfolio of Projects in New South Wales – Inflection press release July 10, 2024

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact:
Sam Spring, President and Chief Executive Officer
sam.spring@kincoracopper.com or +61431 329 345

Executive office 
400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia
Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Qualified Person

The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by Paul Cromie, who is a Competent Person under the definition established by JORC and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Nyngan Projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219846

Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (Kincora or the Company) is pleased have executed the Agreement that outlines the terms which Woomera, an arms length and unrelated party to Kincora, may earn into the Company’s wholly owned Mongolian subsidiaries and thereby obtain exposure to the Company’s Bronze Fox copper-gold project, located in the world-class and rapidly emerging Southern Gobi copper belt.

Cameron McRae, Chairman of Kincora, and Sam Spring, President and CEO stated,

“Woomera has a mandate for large scale new discovery opportunities backed by a team and shareholder register with very considerable prior successes. They are a well motivated and funded partner looking get drilling from September with a high impact program.

This transaction realises Kincora’s strategic objective to retain upside to our Mongolian assets, focus efforts and capital towards our core NSW projects, and, look to do deals to unlock the value of project portfolio.

We look forward to working with Woomera and realising the very significant upside we mutually see in Bronze Fox that we strongly feel will shortly emerge as the fourth major porphyry district in the rapidly developing Southern Gobi copper belt.“

Ralf Kriege, CEO of Woomera, expressed his enthusiasm about the opportunity, saying,

“We are excited to be able to offer our shareholders exposure to these high-quality assets which offer walk-up drill targets with globally significant potential.

The large existing resource inventory, in what we feel is only a very small part and on the margin of one of three near surface and large porphyry systems does however illustrate the substantial scale of the systems and of our opportunity.

Overnight we have transformed Woomera into a key player over one of the most active new exploration and mining frontiers in the world for copper. My recent site visit really emphasised the level of activity taking place in this belt, true district scale of the cluster of porphyry systems at Bronze Fox and scope for the higher grade core of these systems.

We look forward to very shortly getting on the ground to commence activities, leveraging the existing team, permits and infrastructure in place.”

Key terms of the Earn-in Agreement

The Agreement follows a strategic review process for Kincora where a range of potential partnering, funding and other asset initiatives were considered with strong interest from a number of counterparties.

The key terms of the Agreement with Woomera are summarised as follows:

• Woomera may earn up to an 80% equity interest in the asset holding subsidiaries by funding US$4 million in expenditure within five years of the date of the Agreement. This includes a minimum expenditure of US$0.5 million in the each of the first two years of the earn-in period.
  
• Upon earning and exercising the right for the 80% interest Woomera can elect to:

1. purchase the remaining 20% equity interest in the subsidiaries from Kincora for a purchase price of US$10 million and a 1.0% net smelter royalty (NSR); or,
   
2. enter into a shareholders’ agreement where Woomera free-carries Kincora until the point of a Final Investment Decision (FID) for project development (minimum threshold of a JORC 2012 compliant reserve of 1Moz gold equivalent).

• Woomera completing a capital raising, commitments for which have already been received with respect to a A$1.7 million placement with a further Share Purchase Plan also proposed.
  
• Both parties entering into a formal agreement to reflect the terms of Woomera’s operations of the Bronze Fox project and is conditional upon the parties obtaining shareholder and regulatory approvals.
  
• Woomera has agreed to cover the holding costs and spend a minimum of US$500,000, including satisfying the minimum statutory field related commitments and drilling for the project between the date of its shareholder approval and December 31^st, 2024.
  
• If Woomera withdraws from the earn-in prior to earning an 80% interest it must forfeited any equity interest it has obtained in the asset holding entities to Kincora.

Cerberus Advisory and QR Lawyers advised on behalf of Kincora with respect to the external strategic review process and Agreement.

About the Mongolian Portfolio

The Agreement for the Mongolian assets with Woomera comes at a time of recent significant investment in the Mongolian critical minerals sector, including the Oyu Tolgoi copper-gold porphyry project being on track to become the world’s fourth largest copper mine by 2030.

In the last 24 months, BHP, Rio Tinto and Zijin Mining have made investments, increasing or initiating Mongolian exposure.

CRU estimates that copper production from Mongolia will increase to ~800,000t by 2028 from ~300,000 in 2023, a very significant increase the equivalent of ~2% of current copper production, very noteworthy in an industry currently struggling to maintain existing supply levels and before the major projects in-country reach designed steady state production (CRU Copper Market Outlook – December 2023).

Xanadu Mines is in the midst of a Pre-Feasibility Study for its flagship Kharmagtai copper-gold project, having recently completed one of the largest recent porphyry exploration drilling programs in the world with ~54,000m of drilling. Doriemus Plc has recently completed a A$6 million raising at a pre-money A$23 million valuation to support the reserve take over of Asian Battery Minerals Limited who recently made a small intrusion related magmatic nickel-copper-PGE discovery at the Oval project with the support from BHP’s Xplor program.

In addition to ongoing production from the open pit and ramping up of the underground at Oyu Tolgoi, construction activities are ongoing at the large greenfield Tsagaan Suvarga open cut copper-molybdenite project (oxide production scheduled 2025 and sulphide production 2026) and there is rapid advancement of the Kharmagtai copper-gold project since Zijin Mining’s strategic investment and partnership (financial investment decision planned for 2024 and targeted production in 2027).

Following Kincora’s focus having pivoted to NSW in 2019/2020, the Company’s recent activities have capital efficiently advanced the wholly owned Mongolian portfolio including securing an initial mining license, announcing a maiden JORC resource and updated exploration target, making a new (third) intrusive complex discovery (the Shuteen North Intrusive Complex), and, revisiting the geological setting and targeting model for the Bronze Fox Intrusive Complex.

The Bronze Fox project hosts one of the largest series of porphyry complexes, largest land positions and most advance stages of porphyry exploration outside of the existing development projects in the Southern Gobi copper belt. Recent capital constrained exploration at the project has yielded a number of new large scale drill targets and new geological concepts.

Kincora’s existing team, infrastructure, permits and proprietary project generation knowledge supports Woomera’s ability to immediately ramp up exploration at Bronze Fox as well have a competitive advantage to secure additional projects.

The portfolio assets included in the Agreement comprise:

• Bronze Fox mining license (the eastern license of the Bronze Fox project),
  
• Tourmaline Hills exploration license (the western license of the Bronze Fox project),
  
• Kincora’s geological and administrative team (all having international experience),
  
• White Pearl field camp (year round facility), and,
  
• one of (if not) the largest project generation databases for Mongolia.

Figure 1: The Southern Gobi is a globally significant source of new copper supply, with the Bronze Fox project the fourth emerging porphyry district in the belt
One of the fastest growing new infrastructure and mining districts anywhere in the world, within trucking distance to the world’s largest consumer of copper

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/219591_kincorafig1.jpg

The Bronze Fox Project

Bronze Fox was originally identified by Ivanhoe Mines as a highly rated project and retained with Oyu Tolgoi and Kharmagtai being projects excluded by the Falcon JV with BHP.

The project now hosts three large and underexplored porphyry intrusive complexes, with a large JORC resource and exploration target defined for a small part of the Bronze Fox Intrusive Complex, an extensive gold-copper system identified at the earlier exploration stage Tourmaline Hills Intrusive Complex, and a new third intrusive complex only recently discovered and never drilled, called Shuteen North.

Capital constrained recent exploration by Kincora has refined a target pipeline of up to twelve (12) porphyry copper and seven (7) epithermal gold targets ranging from greenfield to brownfield resource expansion. In addition, there are plans to secure a second mining license, providing mining license coverage and 30 year tenure over the full Bronze Fox project and three currently identified intrusive complexes.

JORC Inferred Resource and Exploration Target

On July 26, 2022, Kincora noted the maiden inferred Mineral Resource Estimate (“MRE”) and updated Exploration Target for the West Kasulu prospect reported under the JORC code by Resilience Mining Mongolia Limited (Resilience) (refer to release titled “Mineral Resource and Exploration Target for Bronze Fox” and July 2022 “Resource Estimation for the West Kasulu Porphyry Copper Prospect, Mongolia” report by David Larsen of DF & JG Larsen Consulting Pty Ltd.). It should be noted that the Exploration Target is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

At the time, Resilience sought to acquire 100% of Kincora’s Mongolian project portfolio but the transaction failed to complete.

The parameters for the MRE and updated exploration target were inline with Resilience’s strategy for a near term, modest scale oxide development project and shallow brownfield drilling at the Bronze Fox Intrusive Complex, coupled with near surface (open pit) greenfield targets at the West Kasulu and Tourmaline Hills prospects.

The West Kasulu prospect is open on strike and at depth, hosted within a small portion of the much larger mineralised Bronze Fox Intrusive Complex (BFIC), which is one of three so far identified near surface and under explored intrusive complexes at the wider Bronze Fox project. The West Kasulu prospect is thought to be a less prospective part of the project, being an eroded level of the porphyry system with higher grades across a key regional fault to the west (which is open) and a multiple of separate intrusive targets at different (more favourable) preservation levels within the larger complex.

The Exploration Target comprises potential mineralisation below the current MRE from approximately 325m below surface to over 1,200m below surface (Figure 2).

The maiden MRE for the West Kasulu copper-gold prospect was defined as:

• 194.1Mt at 0.26% Copper Equivalent (CuEq), at a 0.2% CuEq cut-off and to a depth of approximately 325m below surface (Table 1), utilising the same depth and cut-off criteria as the Kharmagtai project.

This includes an oxidised component of:

• 8.6Mt at 0.26% copper fully oxidised copper to approximately 35m below surface; and,
  
• 11.1Mt at 0.25% copper partially oxidised copper between approximately 35m and 80m below surface.

Table 1: West Kasulu Inferred Mineral Resource

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/219591_kincorafig2.jpg

Notes:

• Some numerical differences may occur due to rounding
• Copper equivalent, CuEq (%) = Cu (%) + 0.5204*Au (g/t), based on Au at USD$1400/oz and Cu at USD$3.4/lb and relative metal recoveries (Cu recovery 90% and Au recovery 78%)
• Oxide material reported above 0.2% Cu cut-off as Au may not be recoverable in the oxide zone
• Unless otherwise stated, all elements included in the metal equivalents calculation have a reasonable potential to be received and sold
• Total resource is reported above 800m RL (approximately 325m below surface) and within a notional pit shell
• BOCO = Base of Complete Oxidation, TOFR = Top of Fresh Rock

The MRE and Exploration Target estimate is based on 74 reverse circulation (RC) and diamond holes drilled from 2005 to 2019. The deposit is open at depth and along strike.

The Exploration Target for West Kasulu has been estimated in accordance with Clause 17 of the JORC Code, of between approximately 100Mt and 300Mt at 0.25% to 0.35% CuEq. The potential quantity and grade are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The grade and tonnage estimates constituting the Exploration Target were determined using a block model based on historic drilling.

The majority of the MRE and exploration target are situated within the existing Bronze Fox mining licence with the balance being on the adjoining Tourmaline Hills exploration licence (collectively the Bronze Fox project). Plans are currently in place to convert the Tourmaline Hill’s exploration license to a mining license, thus secure a minimum 30 year tenure over the full Bronze Fox project and three currently identified intrusive complexes – see Figure 3.

Figure 2: A MRE for the at and near surface portion of West Kasulu, and an Exploration Target for the deeper part of the system, is consistent with the strategy to derive value from the potential early development of the near surface oxide resource and shallow porphyry expansion potential, while seeking partners to fund deeper drilling
Longitudinal section: Block model supporting inferred resource (red) and exploration target (mustard)

¹ The majority of hole F62, which intersected 929m @ 0.37% CuEq (from 343m) including 318m @ 0.53% CuEq (from 515m) with 37m @ 1.01% CuEq (from 573m), did not contribute to the MRE.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/219591_kincorafig3.jpg

Figure 3: The Bronze Fox project host three known intrusive complexes, with drilling planned to confirm a new downhole discovery at the Shuteen North Intrusive Complex that is thought to be related to the massive Shuteen lithocap
Plans are in place to secure a second mining license on the western license, thus securing 30 year tenure across the full Bronze Fox project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/219591_kincorafig4.jpg

New Exploration Model

Exploration activities have refined the exploration model for the Bronze Fox Intrusive Complex (BFIC). Prior exploration by Kincora, and Ivanhoe Mines, were based on an “Oyu Tolgoi’ style target model, predominately seeking to drill induced polorisation and magnetic anomalies, often associated with outcrop and now viewed as often situated in an eroded (and less prospective) part of the mineralised system. However, reviews of alteration, mineralisation and geophysical signatures supports a Reduced Porphyry Cu-Au (RPCG) system and target model, with a number of new targets associated with the margin of peak gravity features (similar to that associated with the existing resource), but at areas under cover, interpreted to be within a preserved setting and potential core of the system, offering higher grade potential than defined in the existing resource on the margin of the system.

BFIC is thought to be the first RPCG system identified in Mongolia and noting many similar RPCG systems are now recognized in Asia including some very large mineralised systems (eg Pulang is the largest porphyry Cu-Au deposit in China).

This revised exploration model has the potential to refine existing targets and also identifies new prospects, significantly expanding the search space and noting previous exploration focused on the West Kasulu prospect situated on the outer edges of the ~8 x 4km BFIC.

The core target zone under a RPCG exploration model at BFIC, supported by a large albite alteration zone with coincident magnetic and induced polarisation anomalies, often with peak gravity anomalies, and extensive surface geochemical anomalies. This region has had limited prior drilling.

The view presented is that the metal endowment defined to date on the margin of the system in an eroded setting at West Kasulu potentially highlights scale potential of the targeted high-grade core(s) of a preserved RPCG system at BFIC and is particularly encouraging.

New Shuteen North Target

In 2023, Kincora undertook maiden ground truthing of regionally significant magnetic anomalies and reconnaissance exploration in the southern section of the western Tourmaline Hill’s exploration license.

These activites identified significant areas of subcropped and multiple phased mineralised intrusives, thought to be potentially related to the Shuteen lithocap, the largest lithocap in the Southern Gobi, which is situated to the south.

The lithocap at Oyu Tolgoi was a key geological indicator that supported original exploration efforts for the driving porphyry system, with the causative source of Shuteen a highly prospective target given its size.

Recent capital constrained exploration by Kincora has identified four large and shallow porphyry copper, and, one epithermal gold targets at the Shuteen North Intrusive Complex (SNIC). A maiden drilling program seeking to confirm a new down-hole discovery at the SNIC is planned for the current field season.

About Woomera

Woomera Mining Limited (ASX: WML) (Woomera) is an Australian public exploration company with a mandate for large scale new discovery opportunities backed by a team and shareholder register with very considerable prior successes.

In Australia, Woomera has a portfolio of assets prospective for battery metals (lithium nickel, copper + PGEs) and gold in the Ravensthorpe Yilgarn and Ashburton areas of Western Australia plus the Musgrave Province in South Australia, along with copper-gold mineralisation in the Gawler Craton of South Australia.

Woomera is an arms length and unrelated party to Kincora. Relating to the Agreement, Kincora will receive A$450,000 share consideration in Woomera, becoming its largest shareholder and A$100,000 cash payments.

For more information, please visit Woomera’s website at https://www.woomeramining.com.au.

About Kincora

Kincora Copper is dual listed on the ASX and TSX-V (ticker “KCC”) and is an active explorer and project generator focused on world-class copper-gold discoveries that has recently executed four agreements that unlock up to A$60 million in multiple year partner funding. Further deals and new projects that offer a clear value path and targeted partnerships are proposed.

Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and, the Company is targeting exposure to initially 10,000 and then 30,000m+ pa of drilling.

For more information please visit Kincora’s website at www.kincoracopper.com.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

For further information please contact

Kincora Copper Limited 
Sam Spring, President and Chief Executive Officer 

+61431 329 345 

Cerberus Advisory
Duncan Gordon, Executive Director

+61404006444

Kincora Copper Limited

Executive office 
400 – 837 West Hastings Street
Vancouver, BC V6C 3N6, Canada
Tel: 1.604.283.1722
Fax: 1.888.241.5996

Subsidiary office Australia
Vista Australia
Level 4, 100 Albert Road
South Melbourne, Victoria 3205

Disclaimer and Previously Reported Information
The scientific and technical information this announcement is extracted from reports lodged as market announcements referred to above, quarterly reports, project summaries and are available on the Company’s website www.kincoracopper.com. The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Qualified Person
The scientific and technical information in this announcement was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Chairman of Kincora’s Technical Committee, who are Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement
As originally reported in the July 26, 2022 press release “Mineral resource and updated exploration target for Bronze Fox”,which provided a summary of the report “Resource Estimation for the West Kasulu Porphyry Copper Prospect, Mongolia.” the MRE and Exploration Target have been prepared by independent consultants DG & JG Larsen Consulting Pty Ltd, and its principal Mr. David Larsen, and are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 (JORC Code).

DG & JG Larsen Consulting Pty Ltd was engaged and paid by Resilience Mining Mongolia Limited (Resilience). At the time, Resilience sought to acquire 100% of Kincora’s Mongolian project portfolio but the transaction failed to complete.

The parameters for the MRE and updated exploration target were inline with Resilience’s strategy for a near term, modest scale oxide development project and shallow brownfield drilling at the Bronze Fox Intrusive Complex, coupled with near surface (open pit) greenfield targets at the West Kasulu and Tourmaline Hills prospects.

Mr. David Larsen was at the time a Member of the Australian Institute of Geoscientists, a full-time employee of and the principal of DF & JG Larsen Consulting Pty Ltd and a shareholder of Resilience. Mr. Larsen produced the Mineral Resource Estimate based on data and geological information supplied by Kincora and Resilience.

Mr Larsen, BSc (Geology), MAIG, has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves.

Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves are those that have been previously reported (with the original release referred to in this announcement), in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters underpinning the estimates have not materially changed, and have been reviewed and approved by John Holliday and Peter Leaman, who are a Competent Person under the definition established by JORC and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The review and verification process for the information disclosed herein for the Bronze Fox project have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora’s geological staff using standard verification procedures.

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219591