Star Metro - Zimtu Capital Corp. Enters into Option Agreement to Acquire Interest in the Monument Peak Copper-Silver Project, Idaho

The Monument Peak Property comprises a large contiguous land package situated on Bureau of Land Management ("BLM") lands in central Idaho and hosts a high-grade, stratabound copper-silver system with local gold enrichment.

Transaction Terms

Under the terms of the Agreement, Zimtu has the option to acquire Global's 50% interest in the Property by making aggregate cash payments of $650,000 and issuing common shares having an aggregate value of approximately $750,000, payable in staged installments over a four-year period, subject to certain technical or time-based milestones.

Upon exercise of the option, Global will retain a 1.0% net smelter returns ("NSR") royalty on the Property, of which 0.5% may be repurchased by Zimtu for $1,000,000 if exercised within five years, or $2,000,000 thereafter.

In addition, Zimtu has agreed to incur $1,000,000 in exploration expenditures on the Property within twelve months of closing, subject to extensions for permitting or access delays. During the option period, Zimtu will act as the exclusive operator of the Property.

Any securities issued as consideration for the Property will be subject to a statutory hold period of four months and one day from the date of issuance. In addition to the foregoing statutory hold period, any securities issued to Global will be subject to a voluntary hold period of twelve (12) months from the date of issuance. The transaction is subject to approval of the TSX Venture Exchange.

Monument Peak Property Overview

The Monument Peak Project consists of 84 contiguous, unpatented lode mining claims totaling approximately 689.77 hectares located within Lemhi County, Idaho. The Project hosts two historical copper mines, Jackson and Hungry Hill, which saw limited production in the early 1900s.

Historical and modern exploration has confirmed the presence of high-grade copper-silver ± gold mineralization along a 3+ kilometre northwest-southeast structural trend.

About Zimtu Capital Corp.

Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The Company trades on the TSX Venture Exchange under the symbol "ZC" and Frankfurt under symbol "ZCT1". For more information, please visit https://www.zimtu.com.

On Behalf of the Board of Directors

ZIMTU CAPITAL CORP.

"Sean Charland"
Sean Charland
President & Director
Phone: 604.681.1568

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 NEWS RELEASE.

This news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to the Company, including, but not limited to, statements regarding the Agreement, future issuances of securities as consideration for the Property and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "proposes", and similar expressions, or statements that events or conditions "will", "would", "may", "could" or "should" occur.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

These risks and uncertainties include, but are not limited to: the timing and availability of regulatory approvals; potential changes in market conditions or the trading price of the Company's common shares; the Company's ability to raise sufficient capital to fund its operations; general business, economic, and market conditions; changes in laws or regulations applicable to the Company; dependence on key management personnel; and competition within the industry. Additional risk factors are identified in the Company's most recent management discussion and analysis and other disclosure documents available under the Company's profile at www.sedarplus.ca.

There may also be other risk factors not presently known to the Company or that the Company currently believes are not material that could cause actual results or future events to differ materially from those expressed in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information.

All forward-looking information in this news release is made as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on the reasonable beliefs, expectations, and opinions of management on the date the statements are made and involve numerous assumptions, known and unknown risks, and uncertainties.

SOURCE: Zimtu Capital Corp.

View the original press release on ACCESS Newswire

M.Johnston--SMC