Trading Symbol: CCY
VANCOUVER,
Aug. 5, 2011 /PRNewswire/ - Catalyst
Copper Corp. (the "Company" or "Catalyst") is
increasing the previously announced non-brokered private placement
(the "Offering") from 20,000,000 shares to 20,200,000 shares at a
price of $0.105 per share for gross
proceeds of Cdn $2,121,000 instead of
Cdn $2,100,000 as announced on
July 29, 2011. All other details will
remain the same, as stated in the July 29,
2011 news release.
The Offering is subject to receipt of all necessary
corporate and regulatory approvals, including the acceptance of the
TSX Venture Exchange.
About La
Verde
La Verde is
located in an area with excellent infrastructure. Power, rail and
water all cross the property. Lazaro
Cardenas, Mexico's third largest port on the Pacific Ocean
coast is 180 km from the site. Significant upside potential remains
for the two known zones of porphyry style copper, gold and
molybdenum mineralization as the 2010 drill program has shown both
deposits remain open to depth and along strike.
La Verde property
is subject to an option agreement with a Mexican subsidiary of Teck
Resources Limited (Teck) whereby Catalyst's 100% Mexican
subsidiary, Minera Hill 29, may earn
a 60% interest in La Verde by
making US$10,000,000 in exploration
expenditures (including 30,000 meters of drilling and 200
kilometers of IP) by December 31,
2012. Upon Catalyst earning a 60% interest, Teck has the
option to increase its interest to 60% by incurring aggregate
expenditures equal to two times the amount spent by Catalyst.
Should Teck fail to exercise its option to earn a 60% interest,
Catalyst can acquire a 100% interest in La Verde by paying to Teck US$20 million. The property is subject to an
underlying 0.5% NSR.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CATALYST COPPER CORP.
"John W. Greenslade"
John W. Greenslade - President,
CEO (Director)
Certain information set forth in this news
release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of the
Company, including, but not limited to, risks associated with
mineral exploration and mining activities, the impact of general
economic conditions, industry conditions, dependence upon
regulatory approvals, and the uncertainty of obtaining additional
financing. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
Neither 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.
SOURCE Catalyst Copper Corp.