Tuesday, July 15, 2008
Vancouver, B.C.: Bell Copper Corporation ("Bell Copper", "BCU" or the "Company") (TSX-V Symbol: BCU) reports that it has entered into an option agreement with Glen Hawk Minerals Ltd.("GHM") whereby GHM has, subject to regulatory approval, the right (the "option") to earn up to a 65% interest in the Superior West Prospect (the "Property") based upon GHM completing the following:
- Paying to BCU Cdn $25,000 upon TSX Venture Exchange (the "Exchange") approval;
- Issuing to BCU the following shares:
- 1,000,000 shares upon Exchange approval;
- 1,000,000 shares on August 31, 2009;
- 1,000,000 shares on August 31, 2010; and
- 1,000,000 shares upon production of a bankable feasibility study on the Property;
- Completing the following exploration expenditures on the Property:
- a minimum of US $250,000 by May 15, 2009;
- a further amount, in the minimum of US $250,000 by August 31, 2009; and
- an aggregate total of US $1 million by May 15, 2010;
- Keeping the claims comprising the Property in good standing during the term of the Option, and for a further six months if the Option is terminated; and
- Paying to BCU an operators administration fee of 10% of exploration funds expended.
Upon GHM having spent the US $1 million of exploration expenditures in accordance with the above, GHM will have earned a 65% interest in the Property and GHM, BCU and Bronco Creek Exploration Inc ("Bronco") will, in accordance with the underlying alliance agreement between BCU and Bronco (the "Alliance Agreement") form a joint venture for the further development of the Property with the initial interests in the joint venture being GHM as to 65%; BCU as to 10% and Bronco as to 25%. Under the terms of the joint venture, Bronco will be carried to feasibility with GHM and BCU being required, in proportion to their respective interests, to arrange for financing based on certain minimum annual funding requirements with preferential payback from production for reimbursements for having funded Bronco's joint venture share of costs.Bell Copper -- Value through Production & Discovery
Bell Copper is focused on the development to production of the La Balsa copper mine in Michoacan, Mexico & the Granduc copper mine in British Columbia, Canada while continuing exploration and development of its pipeline of copper projects in some of the world's premier copper producing regions.
More information on Bell Copper: www.bellcopper.netOn behalf of the Board of Directors of
Bell Copper Corporation"W. Glen Zinn"
W. Glen Zinn, President and CEO
For further information please contact the Company
Tel: 604 669-1484 or email: email@example.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties
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