#United States #New York #DRC Mining #Copper Intelligence #CoTec Holdings

Copper Intelligence Partners with CoTec for Exploration in DRC

Copper Intelligence Inc. (OTC: AFDG), formerly known as African Discovery Group, has taken a significant step in the mining sector by entering a term sheet agreement with CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) along with a third-party investment vehicle linked to the company's leadership, Julian Treger and Lucio Genovese. This partnership aims to form an early-stage exploration joint venture specifically targeting the processing of historical copper tailings within the Democratic Republic of Congo (DRC).

Andrew Groves, the Chairman of Copper Intelligence, expressed enthusiasm about this strategic collaboration. He stated, "We are excited to pursue a strategic partnership with the CoTec team that will add capital in a non-dilutive fashion to our shareholders. We look forward to a strong and profitable relationship with a team that has a track record of success in Africa for many decades."

The DRC is home to an extensive mining history, particularly known for its Central African Copperbelt, which is one of the richest copper and cobalt mining regions in the world. Since the 1950s, the state-owned enterprise Gécamines has generated large amounts of copper tailings as a result of industrial mining activities. This exploration venture aims to capitalize on these tailings, turning what was once waste into a potentially profitable resource.

Once the joint venture is fully operational, it will create a structured approach to identify and pursue copper tailings opportunities located in the DRC's historical copper districts. Each identified opportunity will undergo thorough legal and technical evaluations before any development proceeds, with independent members of the CoTec Board of Directors responsible for approval of commitments.

Utilizing CoTec's advanced technologies, the joint venture aims to boost the economic viability of these historical tailings sites and previously overlooked copper deposits. Furthermore, as the venture scales, it is expected to attract funding from the U.S. International Development Finance Corporation, further supporting development efforts in the region.

Significantly, Copper Intelligence is recognized as the first stand-alone DRC entity publicly traded in the United States, leading the way for more investments in the mining sector. The initial term sheet arrangement is non-binding, with the ultimate structure, terms, and conditions of the joint venture to be defined in mutually acceptable definitive agreements between the parties involved.

In light of the growing demand for sustainable and ethically sourced minerals, Copper Intelligence is committed to responsible development and community engagement in the regions of operation. The company is currently focused on the Butembo copper project and other copper initiatives within the DRC, aiming for a beneficial approach to resource extraction.

This joint venture not only signifies a new chapter for Copper Intelligence but also showcases the potential for sustainable mining practices in the DRC, a country rich in mineral resources. As the funding and development plans proceed, stakeholders and shareholders will be closely monitoring the progress and prospects of this pioneering partnership.