CopperBank and Aleut Corporation Continue to Work Together to Develop San Diego Bay Prospect

VANCOUVER, BC / ACCESSWIRE / June 22, 2016 / CopperBank Resources Corp. (“CopperBank”) (CSE: CBK) is pleased to update on the progress at their Alaska portfolio of projects, and specifically their San Diego Bay copper-gold-molybdenum porphyry prospect. CopperBank has an area 15 kilometres by 8 kilometres, under option agreement with the Aleut Native Corporation. To date 7,486 metres have been drilled on the Pyramid project area establishing a maiden inferred resource (see Report filed on Sedar, dated June 21, 2013). There has been no historical drilling, and limited filed work at San Diego Bay, 7 kilometres East of Pyramid. View www.copperbankcorp.com for detailed information and maps.

To further interest in the opportunity at Pyramid and San Diego Bay, CopperBank is working closely with the Aleut Corporation to educate potential partners as to the geological and commercial potential in southeast Alaska, and specifically the advantages associated with opportunities on Aleut Corporation lands including CopperBank’s concession grounds. For more information on the Aleut Corporation, visit their website at www.aleutcorp.com.

The San Diego Bay prospect is typified by an extensive 40 square kilometre area of gossan, strong hydrothermal alteration and intrusive rocks, consistent with porphyry systems such as the adjacent Pyramid deposit. All porphyry alteration facies have been observed, including zones of potassic, advanced argillic, phyllic and pyrite zones; previous landsat imagery has identified widespread zones of high-temperature clay alteration. Strongly anomalous precious and base metal values were collected by previous operators; an important consideration for exploration is that the adjacent Pyramid deposit hosts a leach cap of 10 to 100 meters in thickness, and underlain by a supergene enrichment blanket. Cobbles of copper oxide mineralization have been identified by local, Aleut shareholders on beaches adjacent to the alteration zone. Interpretations suggest that San Diego Bay may represent overlapping hydrothermal systems, including potential lithocaps. San Diego Bay represents a Tier-1 sized porphyry target with an excellent location.

Gianni Kovacevic, CopperBank’s Executive Chairman comments, “We are excited to showcase the tremendous opportunity the State of Alaska offers global investors with her prolific geological endowment. Our partners, the Aleut Native Corporation, have been very supportive in assisting us in communicating this opportunity on the vast land holdings on Aleut lands. It is very hard to find such a large continuous land package, on tidewater, with such a progressive partner in an area with such prolific geology. We are confident that as we continue to work together in our partnership to introduce the investment community to the opportunities on the concession lands, that we will demonstrate a positive benefit for all the stakeholders associated with our projects, especially the local community with respect to training, education and jobs.”

About the Pyramid Project and San Diego Bay Prospect

The deposit is located less than eight kilometres from deep tidewater. From 2010 to 2012, drilling has spanned an area measuring approximately 1,800 meters east-west and 1,050 meters north-south. From 2010-2012, 30 diamond drill holes totalling 7,486 meters were drilled at Pyramid. The Property hosts an Inferred Resources (see Report filed on Sedar, dated June 21, 2013, was prepared according to NI 43-101 guidelines and in accordance with CIM Standards on Mineral Resources and Reserves, under the supervision of independent qualified persons, The report was compiled by Dr. Gilles Arseneau, P.Geo., and Darrell Farrow, M.Sc., Pr.Sci.Nat., both Associates with SRK Consulting (Canada) Inc.).

At a 0.21% copper equivalent cut-off, total contained copper in the Inferred resource category is estimated to be 1,338,000,000 pounds of copper, 74,000,000 pounds of molybdenum and 488,000 ounces of gold. Both near-surface supergene enriched mineralization as well as hypogene copper mineralization were modelled and interpolated. The mineral resource estimate shows that the hypogene mineral resource remains open to depth and along strike in most areas, and the higher grade supergene enriched mineralization is also open for expansion in several areas.

The inferred resource for the Pyramid deposit reported at Cu Eq. grade of 0.21 percent is presented in Table 1.

Table 1: Mineral resource statement, Pyramid
Deposit, SRK Consulting (Canada) Inc., May 09, 2013

Note: All numbers have been rounded to reflect the relative accuracy of the estimates.

Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability. The contained copper represents estimated contained metal in the ground and has not been adjusted for metallurgical recoveries.

Qualified Person

Robert McLeod, P.Geo for the purposes of National Instrument 43-101 and has reviewed and approved the technical portions of this release.

On behalf of CopperBank Resources Corp.

“Gianni Kovacevic”
Executive Chairman

Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily
involve risks associated with regulatory approvals and timelines. Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on each of CopperBank and the risks and challenges of its businesses, investors should review the information circular dated September 12, 2014 and its other
continuous disclosure filings that are available under CopperBank‘s profile at www.sedar.com.

SOURCE: CopperBank Resources Corp.

ReleaseID: 441516