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).
2024 PEA & Mineral Resource Estimate
“ 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 (PEA) completed in December, 2024 demonstrated a Net Present Value of US$ 1.075 billion at US$4.15 copper for the entire Project. The mine plan scenario utilized in our PEA generated an Internal Rate of Return of 23%, had an initial capital requirement of US$ 956 million, and operated with an All-in Sustaining Cost of US$2.51 per pound of copper produced. The Life of Mine copper production was 1.8 billion pounds over 14 years and the Project includes NI 43-101 indicated resources of 402 million tons at 0.31% copper and an inferred resource of 64 million tons at 0.31% copper.
We are now working on finding a Joint Venture partner to assist us in moving the Project to a Pre-Feasibility level. An expanded drill program to upgrade resources to reserves, comprehensive metallurgical studies, and baseline studies for permitting purposes will all be part of this next program.
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 James Fairbairn, Norm Yurik 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, Rich Morrow 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.
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.
