Sterling Metals Completes Acquisition of Copper Road Project in Ontario

TORONTO, ON / ACCESSWIRE / May 10, 2024 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) announced the completion of its acquisition of the Copper Road Project from Copper Road Resources Inc. through the purchase of 100797918 Ontario Inc., a wholly-owned subsidiary. Located north of Sault Ste. Marie, Ontario, the project spans 24,000 hectares and represents a rich copper-moly-silver-gold vein within the Midcontinent Rift, previously fully consolidated in 2021.

The acquisition was finalized by Sterling issuing 108,087,669 Common Shares and a cash payment of $460,000. Most shares will be distributed equitably among Copper Road's shareholders of record as of May 8, 2024. Additionally, Sterling agreed to pay Castlewood Capital Corporation a finder's fee of $20,000 and issue it 2,064,841 common shares.

Mathew Wilson, CEO of Sterling, expressed optimism about the acquisition complementing their Canadian exploration efforts and highlighted the imminent launch of their Phase I exploration program. This acquisition comes at a time identified by the company as the beginning of a new supercycle in copper, driven by years of market underinvestment.