Hornby Announces Completion of Legal Survey on 5% Net Smelter Royalty, Copper
TORONTO, ONTARIO -- (Marketwired) -- 09/17/13 -- Hornby Bay Mineral
Exploration Ltd. (TSX VENTURE:HBE) ("Hornby Bay") announces that it
has completed a legal survey of the mineral rights underlying Hornby
Bay's 5% net smelter royalty ("NSR") on the Copper Mountain Mine
property holdings located near Penticton, British Columbia. The NSR
covers approximately 4,000 acres (1619 ha.) or approximately 22.3% of
the 18,000 acre (7284.34 ha.) property comprising the Copper Mountain
Mine, which is a joint venture between Copper Mountain Mining Corp.
(which owns a 75% interest) and Mitsubishi Materials Corp. (which
owns a 25% interest) of the property comprising the Mine.
The legal surveys have been registered with the Surveyor General's
Office of British Columbia for the purpose of confirming the exact
location of the underlying mineral rights and boundaries of Hornby
The Copper Mountain Mine is designed to process 38,000 tonnes per day
and officially commenced production in August 2011. Teck Resources
also holds a variable net smelter return royalty on 1000 acres (405
ha.) within the mineral rights comprising the mine.
Hornby Bay now expects to be in a position to realize value from its
NSR within the Copper Mountain Mining Corporation mineral holdings.
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.
This news release may contain forward-looking statements including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
We seek safe harbour.
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Hornby Bay Mineral Exploration Ltd.
President and CEO
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