Phoenix Copper Limited / Ticker: PXC / Sector: Mining

25 May 2022

Phoenix Copper Limited

('Phoenix' or the 'Company')

Phoenix Corporate Appointments

Phoenix Team Expands with Hire of Public Relations Manager and Investor Relations Coordinator

Phoenix Copper Limited (AIM: PXC, OTCQX ADR: PXCLY), the AIM-quoted USA-focused base and precious metals emerging producer and exploration company, is pleased to announce the appointments of Public Relations Manager Brittany Lock and Investor Relations Coordinator Paul de Gruchy.

Brittany Lock was born and raised in Idaho, USA and graduated from Boise State University. Before joining the Phoenix management team, Brittany worked as an Emmy winning journalist for Idaho's most-watched television news station. During her career in public relations, she has managed and supported communication strategies for three mining and exploration companies operating in the state of Idaho. In addition to managing Phoenix's Public Relations and Investor Relations, Brittany is also a founding member of the Idaho Woman Advocates of Mining organisation where she leads statewide education efforts.

Brittany Lock, Public Relations Manager of Phoenix Copper Limited, said: "I am a passionate advocate for the benefits of a robust and responsible mining industry. In my role as Public Relations Manager, I intend to use my skills and expertise to help bridge the gap between Phoenix's operational and ESG priorities, and the stakeholders who help make those operations possible."

Paul de Gruchy has over 20 years' experience in the legal sector, including advising government and regulators, and as Head of Legal for BNP Paribas Offshore. He is a keen private investor and market commentator and was a non-executive director of GCP Infrastructure Investments during a period that saw its market cap grow from £30 million to over £1 billion. He is a graduate of Queens' College Cambridge and is currently a director of ShareSoc, the not-for-profit organisation representing private investor interests in the UK.

Paul de Gruchy, Investor Relations Coordinator of Phoenix Copper Limited, said: "I have been a supporter of Phoenix for quite some time now. What has always excited me about the Company is the experience and leadership of its directors. They've strategically positioned the Company to produce metals that are essential to a clean energy transition with a low-cost, highly cash generative, flagship project. All this, with the highest standards of ESG. I am eager to share this message and am looking forward to presenting at the Mello investor conference this week."

Contacts

For further information please visit https://phoenixcopperlimited.com or contact:

Notes

Phoenix Copper Limited is a USA focused, base and precious metals emerging producer and exploration company, initially targeting copper and zinc production from an open pit mine.

Phoenix's primary operations are focused near Mackay, Idaho in the Alder Creek mining district, at the 80% owned Empire Mine property, which historically produced copper at grades of up to 8%, as well as gold, silver, zinc and tungsten, from an underground mine. 

Since 2017, Phoenix has carried our extensive drill programmes which have defined a NI 43-101 compliant PEA (preliminary economic assessment) for an open pit heap leach solvent extraction and electrowinning ("SX-EW") mine, which was updated in October 2020. The contained metal in all NI 43-101 compliant categories of resources, Measured, Indicated and Inferred, stand at 129,641 tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of silver and 58,440 tonnes of zinc. Phoenix updated its economic model in February 2021 to include the processing of all contained metals through a two phased approach.

In addition to Empire, the district includes the historic Horseshoe, White Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead and tungsten from underground mines. A new discovery at Red Star, 330 metres northwest of the Empire Mine proposed open pit, has revealed high grade silver / lead sulphide ore, and from three shallow exploration drill holes a maiden resource of 103,000 tonnes containing 173.4 g/tonne silver, 0.85 g/tonne gold and 3.85% lead (1.6 million ounces silver equivalent) was reported in an NI 43-101 technical report published in May 2019. Additionally, the district includes Navarre Creek, a volcanic hosted precious metals target in a 14.48 sq km area. The Company's total land package at Empire comprises 8,034 acres (32.51 sq kms).

At Empire, it is estimated that less than 1% of the potential ore system has been explored to date and, accordingly, there is significant opportunity to increase the resource through phased exploration. The stated aim of the Company is to fund this phased exploration through free cashflow generated by its initial mine. A Plan of Operations in respect of the initial open pit mine was filed with the relevant regulatory authorities in June 2021.

Phoenix also has two wholly owned cobalt properties on the Idaho Cobalt Belt to the north of Empire. An Earn-In Agreement has been signed with Electra Battery Materials (formerly First Cobalt Corporation), Toronto, in respect of one of those properties.

Phoenix is listed on London's AIM (PXC), and trades on New York's OTCQX Market (PXCLF and PXCLY (ADRs)). More details on the Company, its assets and its objectives can be found on PXC's website at  https://phoenixcopperlimited.com/