TSX.V: COCO
VANCOUVER, BC, July 6, 2026 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"); (TSXV: COCO) is pleased to announce that it has entered into an asset purchase agreement (the "Agreement") on July 3, 2026 with Talisker Resources Ltd. (TSX: TSK) ("Talisker") and its wholly-owned subsidiary, Bralorne Gold Mines Ltd. ("Bralorne"). Bralorne will acquire a 100% interest in Coast Copper's Ben Nevis property (the "Property") located in the Bralorne Gold Mining camp1 (the "Transaction"). In consideration, Talisker will pay Coast Copper $125,000 in cash, issue to Coast Copper Talisker common shares ("Consideration Shares") having an aggregate value of $250,000, and grant Coast Copper a contingent payment under certain conditions, as more fully described below.
The Transaction is consistent with Coast Copper's strategy of monetizing non-core exploration assets and redeploying capital toward advancement of its flagship copper projects while retaining exposure to future exploration success.
Adam Travis, CEO comments: "We're excited to own shares in Talisker. Terry and his team have done an excellent job of putting the Bralorne camp back on the map. This transaction demonstrates the value of Coast Copper's prospect generation strategy. Where appropriate, we intend to monetize selected non-core projects while maintaining our focus on advancing our flagship assets."
Agreement Terms
Under the terms of the Agreement, Bralorne will:
make a cash payment of $125,000;
deliver to Coast Copper Consideration Shares having an aggregate value of $250,000, based on the five trading day volume weighted average price ("VWAP") calculated on the closing date. The Consideration Shares will be subject to trading restrictions: 50% of the Consideration Shares will be released 6 months from closing, and the remaining 50% of the Consideration Shares will be released 12 months from closing;
spend a minimum of $300,000 in exploration expenses on the Property over a three year period from the closing date;
issue the contingent payment under certain conditions.
Contingent Payment based on Resource Delineation
Bralorne will pay to Coast Copper (the "Contingent Payment") $100,000 in cash or Talisker common shares (the "Discovery Shares") at the discretion of Bralorne, will be made to Coast Copper for each 100,000 gold ounces ("Discovery Ounces") (up to a maximum of 1,000,000 Discovery Ounces) delineated in the inferred, measured or indicated categories reported in a National Instrument 43-101 Standards of Disclosure for Mineral Projects-compliant technical report filed by Bralorne or any successor in interest which holds the Property (the "Technical Report") on SEDAR+. If Bralorne elects to make payment via the issuance of Discovery Shares, such Discovery Shares will be priced based on the five-trading day VWAP of the Talisker common shares immediately preceding the date of the filing of the Technical Report on SEDAR+. For greater certainty, the calculation of Discovery Ounces shall be cumulative over time, and one or more successive Technical Reports may contribute to the aggregate number of Discovery Ounces and thereby result in the issuance of one or more Contingent Payments. However, in successive Technical Reports, the cumulative number of Discovery Ounces shall only be increased by the amount that the number of gold ounces in the inferred, measured and indicated classes in a Technical Report exceeds the number set out in the prior Technical Report, accounting for any gold ounces that have been depleted through mining activities between such Technical Reports.