FINAL COMPETITIVE TENDER OF C$7M DISPUTED LICENSES
Vancouver, BC – February 11 th , 2015 – Kincora Copper Limited (the “Company”, “Kincora”)
(TSXV:KCC) wishes to provide an update following the second and final tendering of the former two licenses held by its wholly owned Golden Grouse subsidiary that were revoked as part of the
106-license dispute and resulted in a C$6,952,000 impairment in our September 2013 financial statements, the vast majority of which was recognized as a credit by the Government of Mongolia in the concluded competitive tender process.
Following due process and as specified in the competitive selection process, the said licenses were tendered with no third party bids received. Following a final administrative review and process it is expected that MRAM will provide Kincora the election to regain both licenses as new with a full 12year term.
Kincora will continue to inform the market of progress relating to our former Golden Grouse licenses and after a two-year period of uncertainty looks forward to the final conclusion of our dispute.
For further information, please contact:
Sam Spring, President and Chief Executive Officer firstname.lastname@example.org
+61431 329 345 http://www.kincoracopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
800 – 1199 West Hastings Street, Vancouver, BC V6E 3T5 -‐ phone +1 604 283 1722 -‐ fax +1 888 241 5996