Hi Copperhill Corp. Shareholders:
This article on Copperhill's acquisition appeared in today's edition of the Telegram:
Local junior takes the Powderhorn 8/20/99
By CHRIS FLANAGAN
A St. John?s-based junior mining company has taken over the Powderhorn nickel showing in central Newfoundland
after a fast-talking, overconfident Vancouver company walked away from it.
Copper Hill Corp. (CUHL:CDN) has concluded an agreement with Newfoundland prospectors Bill Mercer and Jacob
Kennedy to earn a 100 per cent interest in a 5,000-hectare property near Grand Falls in exchange for $32,500 over
two years and 200,000 shares (plus an additional 200,000 shares in the future as work progresses).
Its next goal is to find a major partner to help explore the claim block.
The Powderhorn property is an interesting one.
The area has never been considered a nickel-bearing region. But Mercer learned about nickel here from his
grandfather who first prospected it more than 50 years ago.
Last summer Vancouver-based Canaco Resources Ltd. bought it from Mercer and Kennedy and promoted it as
aggressively as the marketers of Viagra ? albeit without the budget.
The largely unexplored property was mentioned in the same breath as Voisey?s Bay and was touted as a possible
source of nickel for an Argentia smelter, when in fact next to nothing was known about its potential.
After exploring it for a season, Canaco walked away.
?They failed to do enough geophysical work, drilled a couple of holes in the wrong places and left,? one observer
said.
But as soon as Canaco had officially signed off, Copper Hill jumped in.
?We?ve had our eye on this since last fall,? Copper Hill president Earl Benson said Thursday.
Copper Hill likes the geology, and the 1.1 per cent nickel and 0.65 per cent copper found in trenching samples by
Mercer and Kennedy.
?Our plans are to seek a joint venture partner and to begin exploration as soon as possible,? Benson said.
Although the area is known for base metals and not for nickel, there is a precedent for joint ventures with majors.
Just last week St. John?s-based junior Altius Minerals signed an agreement with Billiton Exploration Canada Ltd., a
subsidiary of the world?s fifth-largest nickel producer, on a nickel prospect at a property called Taylor?s Brook in
western Newfoundland.
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