Superior Copper Acquires Fifty Percent of the Richards Breccia

TSXV
Symbol: SPC
Shares Outstanding: 64,754,269

TORONTO, July 16, 2012 /CNW/ - Superior Copper Corporation (SPC:TSXV) has entered into an agreement to acquire fifty percent of the Richards Breccia Property located in Ryan Townships near Batchawana Bay, approximately 80 kilometres north of Sault Ste. Marie, Ontario; subject to regulatory approval.  Superior Copper will acquire a 50% interest in the project by issuing 750,000 shares to the vendor; Delio Tortosa.

The Richard's Breccia Property covers 2 unpatented mineral claims over 128 hectares. The property is located in the Batchawana Greenstone Belt of the Archean Superior Province near the margin of the Proterozoic Southern Province.

The property contains the Richards Breccia Prospect, a near vertical diatreme breccia which intrudes the metavolcanic rocks of the Batchawana Greenstone Belt. The breccia is thought to be mid-Proterozoic in age, similar to the Tribag Breccias which were mined in the late 1960's and early '70s and are located 10 kilometres to the northeast.

In 1997 and 1998, Aurogin Resources drilled three shallow holes into the Richards Breccia which encountered significant copper mineralization (AR97-24: 0.67% Cu over 13.7 metres; AR97-25: 0.86% Cu over 40.5 metres; AR98-07: 1.46% Cu over 26.8 metres). Mineralization consists of disseminated chalcopyrite accompanied by quartz, biotite, calcite, and hematite. The breccia was intersected to depths of 40 to 80 metres and is circular in shape, with an exposed surface expression of approximately 50 metres in diameter.

The technical information contained in this news release has been reviewed by Roger Moss, P. Geo. who is a "Qualified Person" under National Instrument 43-101 and a Director of Superior Copper. The historical results presented here have not been verified, and are given for information purposes only.

Superior Copper Corporation

Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the increasing global demand.  The Company has two key exploration projects; the Batchawana Copper Project and the Rivière Doré Project in Quebec.

CAUTIONARY STATEMENT: Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates",  "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.

SOURCE Superior Copper Corporation

For further information:

Superior Copper
Judy Baker, President & CEO
Tel: 416.479.0893 Ext 401
Email: jbaker@superiorcopper.ca
Web site: www.superiorcopper.ca

Profil de l'entreprise

Superior Copper Corporation

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.