TIDMPXC

Phoenix Copper Limited

29 June 2020

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

29 June 2020

Phoenix Copper Limited

("Phoenix" or the "Company")

Hardman & Co Investor Forum Webinar presentation

Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted North American focused base and precious metals company , will be presenting at the Hardman & Co Investor Forum Webinar on Thursday 9(th) July, 2020 between 3 and 4.30 pm BST. To register for the event and watch the presentation please follow the link below.

https://www.eventbrite.co.uk/e/hardman-co-investor-forum-webinar-tickets-106914355716

For further information please visit www.phoenixcopperlimited.com or contact:

 
 Phoenix Copper         Ryan McDermott                        Tel: +1 208 954 
  Limited                Dennis Thomas                                   7039 
                         Richard Wilkins                        Tel: +44 7827 
                                                                      290 849 
                                                                Tel: +44 7590 
                                                                      216 657 
 SP Angel               David Hignell / Caroline Rowe        Tel: +44 20 3470 
  (Nominated Adviser)                                                    0470 
                       -----------------------------------  ----------------- 
 Brandon Hill Capital   Jonathan Evans / Oliver Stansfield   Tel: +44 20 3463 
  (Joint Broker)                                                         5000 
                       -----------------------------------  ----------------- 
 WH Ireland (Joint      Harry Ansell / Adam Pollock              Tel: +44 207 
  Broker)                / Katy Mitchell                              2201666 
                       -----------------------------------  ----------------- 
 Blytheweigh            Tim Blythe / Camilla Horsfall        Tel: +44 20 7138 
  (Financial PR)         / Megan Ray                                     3204 
                       -----------------------------------  -----------------

Notes

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver and gold resources around three other past producing mines within the 23 km(2) Empire claims block as well as cobalt in two claims blocks north of Empire in Idaho.

Phoenix's primary operations are focused near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead and tungsten from underground mines in the first half of the twentieth century. Additionally, the district includes Navarre Creek a Carlin-trend gold discovery which hosts a 6.1 km gold strike length within a 9.8 km(2) area.

Phoenix acquired an 80% interest in the historical Empire Mine property in 2017 and, based on a total of 320 drill holes, an oxide resource was completed in late 2017. A NI 43-101 compliant PEA (preliminary economic assessment) for an open pit heap leach solvent extraction and electrowinning ("SX-EW") mine was completed in April 2018. In 2018 a further 8,600 metres in 93 holes was completed to upgrade the oxide resources, provide samples for ongoing metallurgical test work, geotechnical and hydrological studies and condemnation drilling for the heap leach pad site, waste dump and plant site. An updated NI 43-101 compliant resource was completed in early May 2019, which was generated for a heap leach copper SX/EW operation where only copper was recovered. A further updated NI 43-101 compliant resource was generated in May 2020 for all metals, which resulted in an increase of measured and indicated resources of +56% gold, +11% copper, +13% silver and +26% zinc. Present contained metal in all NI 43-101 compliant categories of resources, measured, indicated and inferred, stand at 343,249 ounces of gold, 129,923 tonnes of copper, 9,502,494 ounces of silver and 50,550 tonnes of zinc.

Since acquiring the Empire project, Phoenix has increased the claim area from 818 acres to 5,717 acres, mainly to the northwest and west, and in so doing has increased the potential for additional oxide and sulphide copper resources, as well as the potential for stand-alone gold and silver resources, along a strike length of approximately 5.4 km towards the other brownfield mines of the Horseshoe, White Knob and Blue Bird Mines now within the property boundary. In particular, a new discovery at Red Star, 330 metres north west of the Empire Mine proposed open pit, has revealed sulphide ore and from three shallow exploration drill holes a NI 43-101 compliant maiden resource of 1.6 million silver equivalent ounces was reported.

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.

More details on the Company, its assets and its objectives can be found on PXC's website at www. phoenixcopperlimited.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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June 29, 2020 07:00 ET (11:00 GMT)

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