Coast Copper Sells One of its Three Toodoggone Properties for $1.375 Million in Combined Cash and Shares
TSX.V: COCO
VANCOUVER, BC, Aug. 28, 2025 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"; (TSX-V: COCO) is pleased to announce that it has entered into an asset purchase agreement (the "Agreement") on August 27, 2025 with Hi-View Resources Inc. (CSE:HVW,"Hi-View"), who will acquire a 100% interest in Coast Copper's Borealis property (the "Property") located in the Toodoggone District in northcentral BC (the "Transaction"). In consideration, Hi-View will pay Coast Copper $500,000 in cash, issue 3,500,000 Hi-View common shares ("Consideration Shares") to Coast Copper at a deemed price of $0.25 per Consideration Share, and grant Coast Copper a bonus payment under certain conditions, as more fully described below. Coast Copper will also retain a 3% net smelter return ("NSR") royalty subject to buyout provisions as outlined below.
Adam Travis, CEO commented: "With the recent AuRORA discovery made by Amarc Resources Ltd. ("Amarc") and Freeport-McMoRan Mineral Properties Canada Inc, the Toodoggone District has become one of the hottest exploration regions in Canada. The sale of one of our Toodoggone properties to Hi-View validates our strategy of acquiring underappreciated exploration properties throughout BC while we advance our core projects. Borealis is highly prospective for porphyry copper-gold, polymetallic and skarn targets and we are extremely excited to be able to participate in the upside of the district by becoming the largest shareholder of Hi-View as well as retaining a NSR royalty and potentially receiving a transaction bonus. We are committed to completing the first phase of exploration in September, which will include an airborne magnetic survey and further compilation, such that Hi-View will be in a position to quickly move towards ground geophysical surveys to expand and better define historical Induced Polarization geophysical anomalies prior to drill testing."
The Property covers 9,106 hectares and is over 25 kilometers ("km") in length, located immediately west and adjacent to Amarc's Joy property¹ and Centerra Gold Inc.'s ("Centerra") Kemess mine¹ (see Figure 1). For more details on this Property as well as the two others in the district that Coast Copper continues to hold, please see the news release dated April 8, 2025.
Coast Copper's Chair of the Board, Dr. Fletcher Morgan is the CEO of TDG Gold Corp., a company that has other interests in the Toodoggone District, and as a result recused himself from voting on this transaction, which received unanimous support from the rest of the Coast Copper Board.
Tim Thiessen, CFO commented: "Selling our Red Chris Properties in 2022 provided the Company with sufficient working capital such that we have not needed to raise any significant funds since then, while at the same time continuing to advance our core projects and acquire new ones. Adam Travis has a remarkable ability to locate, review and acquire prospective properties in strategic locations. The Hi-View transaction, with a value of over $1 million, will further assist Coast Copper in maintaining our working capital without diluting shareholders. We look forward to the future success of Hi-View as it advances exploration at the Borealis property.
Agreement Terms
Under the terms of the Agreement, Hi-View will:
- Immediately pay Coast Copper a non-refundable deposit of $50,000 which will be spent on exploration expenditures on the Property to keep it in good standing for a period of twelve (12) months;
- upon closing of the Transaction, make a cash payment of $450,000 to Coast Copper;
- upon closing of the Transaction, issue to Coast Copper 3,500,000 common shares of Hi-View (the "Consideration Shares"). The first 1,050,000 Consideration Shares will become free-trading four months after the completion of the Transaction, and the remaining Consideration Shares will become free-trading in equal amounts of 350,000 Consideration Shares at the end of each following month, such that the final 350,000 Consideration Shares will become free-trading eleven (11) months after the completion of the Transaction.
Coast Copper will retain a 3% NSR royalty on the Property of which Hi-View will have to right to repurchase 1% for $2,500,000 (the "First Buyout Payment") and an additional 1% for $5,000,000 (the "Second Buyout Payment").
If, after the Closing Date, Hi-View completes a "Sale Transaction", defined as a transaction resulting in a direct or indirect sale or transfer of property or a take-over, amalgamation, plan of arrangement, or business combination in respect of Hi-View the result of which 51% or more of the issued and outstanding equity or voting interests of Hi-View is acquired by a single arm's length third party, and provided that immediately before the consummation of such Sale Transaction either (a) Hi-View, or an affiliate thereof, continues to own an interest in the Property, or (b) Hi-View, or an affiliate thereof, has disposed of an interest in the Property in a transaction connected or related to the Sale Transaction, Hi-View agrees to pay to Coast Copper, within five business days following the completion of the Sale Transaction, a one-time bonus payment (the "Bonus Payment") in accordance with the following scale: If the transaction is less than $10,000,000 the Bonus Payment would be $500,000, if $10,000,000 to $20,000,000 the Bonus Payment would be $1,000,000, and if greater than $20,000,000 the Bonus Payment would be $1,500,000.
The Bonus Payment shall be paid in cash. Where the Sale Transaction is structured as an option, joint venture or other transaction with staged or conditional payments, the Bonus Payment shall not become payable until such consideration is actually received by Hi-View, its affiliate or its securityholders, and further provided, for greater certainty, that the Bonus Payment shall be paid in stages as the aggregate transaction value of such staged or conditional payments totals the above-listed thresholds.
The completion of the Transaction is subject to standard closing conditions, including receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.
No finders' fees have been paid in this transaction.
The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC), Coast Copper's geological consultant and a Qualified Person within the context of the Canadian Securities Administrators' NI 43-101; Standards of Disclosure for Mineral Projects.
Coast Copper's primary exploration focus is the Empire Mine property, located on northern Vancouver Island, British Columbia, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold, and silver. In 2023, Coast Copper launched a generative program aimed at advancing its other properties in parallel with Empire. In 2025, Coast Copper acquired six new projects bringing its total number of 100% owned projects in BC to thirteen, including the Empire Mine and Knob Hill NW properties located on northern Vancouver Island, BC, and mineral properties in the Golden Triangle, Huckleberry, Anyox, Babine, Toodoggone and Sullivan districts. Coast Copper's management team continue to actively review precious and base metal opportunities in western North America.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director
Cautionary Notes in News Release and/or Maps
- This news release may contain information about adjacent properties on which Coast Copper has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
- Geological Report on the Tom, Chip, and Dale Claims, 1987, Seywerd, J. Bekdache, M. BC Assessment Report 16371. Retrieved from ARIS website.
- Prospecting Report on the Firesteel Property, 1996, Javorsky, D. BC Assessment Report 25003. Retrieved from ARIS website.
- Geological, Geochemical and Geophysical Report on the Cas Claims, 1992, Ditson, C. BC Assessment Report 22721. Retrieved from ARIS website.
- The QP has been unable to verify the information and that the information is not necessarily indicative to the mineralization on the property that is the subject of the disclosure
- Information regarding deposits on neighboring properties has been sourced from the individual websites. Thesis Gold: www.thesisgold.com, TDG Gold: www.tdggold.com, Amarc Resources: www.amarcresources.com, and Centerra Gold: www.centerragold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: the ability of Coast Copper to complete the Transaction, fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE Coast Copper Corp.
For further information, please contact: Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904, Vancouver, BC, V6C 1T2, Canada, P: 877-578-9563, E: [email protected]
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