BCU Bell Copper Corporation

Bell Copper Corporation ("Bell Copper" or the "Company") (TSX VENTURE:BCU)
announces that it has amended the purchase agreement (the "Purchase Agreement")
between Bell Copper and Copper Fox Metals Inc. ("Copper Fox") (TSX VENTURE:CUU)
and completed the sale to Copper Fox of the Sombrero Butte property located in
Pinal County, Arizona (the "Sombrero Butte Property") and all Bureau of Land
Management (Arizona) lode claims (the "Van Dyke BLM Claims") that Bell Copper
has located which are adjacent to Bell Copper's interests in the Van Dyke copper
deposit located in Miami, Arizona (the "Van Dyke Property"). 


The Purchase Agreement has been amended to provide for the acquisition by Copper
Fox of the Sombrero Butte Property and Van Dyke BLM Claims separately from the
Van Dyke Property by paying to Bell Copper Cdn$1,000,000 for the Sombrero Butte
Property and Van Dyke BLM Claims and Cdn$1,000,000 for the Van Dyke Property and
assuming Bell Copper's continuing obligations in respect of such properties. The
total consideration for the properties remains Cdn$2,000,000 in cash (see the
press release issued by the Company on July 9, 2012). 


Copper Fox has completed the acquisition of the Sombrero Butte Property and the
Van Dyke BLM Claims by paying to Bell Copper Cdn$1,000,000 and assuming Bell
Copper's continuing obligations in respect of the Sombrero Butte Property and
the Van Dyke BLM Claims. 


Bell Copper has tendered into escrow all of the closing deliveries required to
complete the acquisition of the Van Dyke Property pursuant to the purchase and
sale and royalty agreement (the "Van Dyke Agreement") between Bell Resources
(Nevada) Corporation, a wholly-owned subsidiary of Bell Copper, and Bennu
Properties, LLC, Albert W. Fritz Jr. and Edith Spencer Fritz (collectively, the
"Vendors")(see the news release issued by Bell Copper on March 12, 2012). As of
the date of this news release, the Vendors have not complied with their
obligation to sell the Van Dyke Property to Bell Copper, and therefore Bell
Copper intends to aggressively pursue its legal rights in respect of the Van
Dyke Agreement. Upon Bell Copper completing the acquisition of the Van Dyke
Property from the Vendors, Copper Fox will acquire the Van Dyke Property from
Bell Copper for Cdn$1,000,000. 


Bell Copper also announces that it has terminated the letter of intent between
Bell Copper and AKA Ventures Inc. ("AKA") in accordance with its terms. Under
the letter of intent, Bell Copper had granted AKA the option to earn a 60%
interest in the Company's Kabba project in Mohave County, Arizona (see the news
release issued by the Company on April 11, 2012). 


Michael Werner, Chief Executive Officer of Bell Copper, stated: "Our Arizona
properties have always been our vision of growth for the company. However, due
to challenging capital market conditions, the sale of assets was the only
reasonable way for Bell Copper to continue as a going concern. Management
believes that the sale of the Sombrero Butte Property and Van Dyke BLM Claims,
together with the anticipated sale of the Van Dyke Property, positions the
Company well for moving the Kabba project ahead when equity market conditions
improve. Management intends to continue to evaluate additional exploration and
production opportunities for the Company."


Bell Copper also announces it is terminating its previously announced private
placement financing (see the news release issued by the Company on March 27,
2012). It further announces the resignations of Ms. Deborah Battiston as Chief
Financial Officer, Mr. John Andreazza as Vice President, Metallurgy, and Mr.
Josh Van Deurzen as Corporate Secretary. Mr. Paul Andersen will replace Ms.
Battiston as Chief Financial Officer. Mr. Andersen is the Managing Partner of
Forbes Andersen LLP and has over 15 years of experience in senior management
roles in both private and public companies. Mr. Andersen and his firm will
assume responsibility for the Company's financial reporting and compliance
requirements. Mr. Michael Werner, Chief Executive Officer of the Company, will
replace Mr. Van Deurzen as Corporate Secretary. The Company expects these
management changes to reduce the Company's fixed costs. The Company thanks Ms.
Battiston, Mr. Andreazza and Mr. Van Deurzen for their service. 


About Bell Copper

Bell Copper is a public company focused on the development and exploration of
copper assets in the Americas through internal efforts and via strategic
partnerships.


More information on Bell Copper: www.bellcopper.com

On behalf of the Board of Directors of Bell Copper Corporation

Michael Werner, CEO & Director

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward looking information
includes, but is not limited to, statements with respect to the Company's
intention to advance the Kabba project and the Company's intension to
aggressively pursue its rights under the Van Dyke Agreement. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: general business,
economic, competitive, political and social uncertainties; acquisition risks,
the actual results of current exploration activities; delay or failure to
receive board or regulatory approvals; timing and availability of external
financing on acceptable terms; the Property not being integrated successfully or
such integration proving more difficult, time consuming or costly than expected,
not realizing on the potential benefits of the proposed transaction; conclusions
of economic evaluations; changes in project parameters as plans continue to be
refined; future prices of mineral prices; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and shortages
and other risks of the mining industry; and, delays in obtaining governmental
approvals or required financing or in the completion of activities. Although the
Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.

Bell Copper (TSXV:BCU)
Historical Stock Chart
From May 2024 to Jun 2024

Bell Copper (TSXV:BCU)
Historical Stock Chart
From Jun 2023 to Jun 2024