US Copper Corp is a junior exploration and development company listed on the TSX Venture Exchange (symbol: USCU). The Company is focused on advancing its Moonlight-Superior Copper Project in Plumas County, California to the production stage. The Project includes copper sulfide and copper oxide resources with silver and gold credits in three deposits – Moonlight, Superior and Engels – hosted in Jurassic intrusive rocks within a 13 square miles area.
About Us
Company Profile
Copper was discovered in the Lights Creek District in 1883, and it was mined underground on a large scale from 1915 until 1930. Placer-Amex explored the property from 1960 to 1972, drilling over 400 holes and estimating a resource of over 4 billion pounds of copper (this resource predates NI 43-101 and cannot be relied on).
PEA & UPCOMING Drill PROGRAM
“ We are excited about the opportunity to be an integral supplier of copper metal in the United States.”
— Steve Dunn, President
A Preliminary Economic Assessment (2018) demonstrated positive economics at US$3 copper for the Moonlight deposit, which has a NI 43-101 indicated resource of 252 million tons at 0.25% copper and an inferred resource of 109 million tons at 0.24% copper. US Copper is now preparing for a drill program to initiate a longer term effort to include the smaller, but higher grade Superior and/or Engels deposits to improve the economics of the project. The Superior deposit has a NI 43-101 resource of 54 million tonnes at 0.41% copper and the Engels deposit has an unconfirmed historical resource of 19 million tons at 0.63% copper sulfide at surface.
Oxide deposits at Moonlight and Engels also present upside opportunities. The oxide cap at Moonlight is presently treated as waste in our PEA and a drill program will be needed to delineate the oxide resource for inclusion in the PEA. Placer-Amex calculated an oxide resource at Moonlight of 12 million tons at 0.54% copper in 1968 (non-compliant; historic estimate). At Engels, a NI 43-101 inferred oxide resource of 2.5 million tonnes at 1.05% copper remains open in all directions.
US Copper has designed a drilling program to commence in the first half of 2021. The program will focus on defining a high-grade starter pit, expanding and upgrading mineral resources and establishing silver and gold credits.
Company History
Management
Steve Dunn
President, CEO & Director
Stephen Dunn has over 30 years of experience in the investment industry having worked with a large Canadian insurance company, a Canadian Schedule A bank, and two Canadian investment dealers. He has extensive experience in capital markets and has been a director of numerous resource companies. He recently resigned as President and CEO of Pasofino Gold Limited (TSX-V: VEIN). Mr. Dunn earned his BA and his MBA from the University of Western Ontario.
Rich Morrow
CFO & Director
Rich Morrow was formerly the CEO of a resource focused company. Control of that company was sold through a supported takeover that he negotiated. Mr. Morrow has a strong background in capital markets and in corporate development. During a thirty year business career, primarily with Canadian-based investment dealers and latterly in the corporate sector, he has had a key role in initiating and closing several successful IPOs
and numerous financings, acquisitions and divestments. His international business experience includes negotiations, transactions and investments in South America, Europe, Africa and China.
Bob Suda
Geological Consultant
Bob Suda has worked in the mining business for over thirty-five years. His experience includes eight years with Gulf Mineral Resources Corp and fifteen years with Cominco American Incorporated as Senior Geologist. With Cominco, Mr. Suda was involved with exploration programs in the United States and in international programs. He was project exploration manager for the Pend Oreille zinc mine area and participated in the
discovery of a Nevada gold deposit. Mr. Suda has worked in the junior mining sector since 2004 and served as Exploration Director of Garrison International, as well as Vice President, Exploration for Portage Minerals Inc. and FDG Mining Inc.
Johnny Oliveira
Office Manager
Johnny Oliveira has served in various capacities with US Copper Corp since June 2010. Currently, he serves as Controller, Corporate Secretary or Chief Financial Officer of several junior mining exploration companies. In his current role at the Company, he is responsible for financial reporting, preparation of financial statements and management’s discussion and analysis reports for shareholders, as well as tax and regulatory compliance. He holds an Honours Bachelor in Business Administration.
Corporate Governance
US Copper Corp and its board of directors (the “Board”) recognize the importance of corporate governance to the effective management of the Company and to the protection of its employees and shareholders.
The Company’s approach to significant issues of corporate governance is designed with a view to ensuring that the business and affairs of the Company are effectively managed so as to enhance shareholder value. The Board fulfills its mandate directly and through its committees at regularly scheduled meetings or as required. Frequency of meetings may be increased and the nature of the agenda items may be changed depending upon the state of the Company’s affairs and in light of opportunities or risks which the Company faces. The directors are kept informed of the Company’s operations at these meetings as well as through reports and discussions with management on matters within their particular areas of expertise.
The Company currently has three committees: the Audit Committee, the Corporate Governance Committee and the Compensation Committee. The Audit Committee is comprised of Martin Vydra, James Fairbairn and Rich Morrow. The members of the Corporate Governance Committee are James Fairbairn, Stephen Dunn and George Cole. The Compensation Committee is comprised of James Fairbairn, Martin Vydra and George Cole.
Board of Directors
Steve Dunn
President, CEO & Director
Stephen Dunn has over 30 years of experience in the investment industry having worked with a large Canadian insurance company, a Canadian Schedule A bank, and two Canadian investment dealers. He has extensive experience in capital markets and has been a director of numerous resource companies. He recently resigned as President and CEO of Pasofino Gold Limited (TSX-V: VEIN). Mr. Dunn earned his BA and his MBA from the University of Western Ontario.
Rich Morrow
CFO & Director
Rich Morrow was formerly the CEO of a resource focused company. Control of that company was sold through a supported takeover that he negotiated. Mr. Morrow has a strong background in capital markets and in corporate development. During a thirty year business career, primarily with Canadian-based investment dealers and latterly in the corporate sector, he has had a key role in initiating and closing several successful IPOs
and numerous financings, acquisitions and divestments. His international business experience includes negotiations, transactions and investments in South America, Europe, Africa and China.
Martin Vydra
Non-executive director
Martin Vydra is currently President and Director of Giga Metals Corporation and Head of Strategy for Nickel 28 Capital Corp. Prior to joining Nickel 28 Capital, he had a 31 year career with Sherritt International Corporation, a leader in the mining, processing and refining of lateritic nickel and cobalt with operations in Canada, Cuba and Madagascar. He is widely recognized as an expert in nickel and cobalt extraction, processing and refining including the development and application of advanced technologies to maximize the recovery of valuable metals such as nickel and cobalt from a variety of feeds. While at Sherritt, Mr. Vydra’s technical accomplishments spanned four continents and over 20 operations including postings in Australia where he was integrated in Murrin Murrin’s refinery start up; Finland for the design of Harjavalta’s nickel reduction circuit; and, in Chile where he oversaw the design, construction and commissioning of a major pressure oxidation operation. In addition to his technical expertise, from 2008-2011, Mr. Vydra held the position of Managing Director, Commercial Contracts and Marketing, with global responsibility for metal marketing.
George Cole
Non-executive Director
George Cole was Vice President, Exploration for Cominco American until he retired in 2001. He has subsequently served in senior management and board positions for several junior mining companies, most recently with Trelawney Mining & Exploration Inc. and Rae-Wallace Mining Company.
James Fairburn
Non-Executive Director
James Fairburn has more than 20 years of experience with publicly-traded companies. He is a Chartered Accountant, having obtained his CA designation in 1987 and is an Institute-certified Director. Mr. Fairburn holds a B.A. from the University of Western Ontario. His valued experience includes corporate governance and financial reporting with respect to junior mining exploration companies. He is a director of several junior mining companies.
Norm Yurik, CPA
Non-executive Director
Norm Yurik is a CPA and former tax partner at Deloitte LLP. He led the Merger and Acquisition Group of Deloitte in British Columbia, responsible for tax planning and structure and client services.
