Copper Road Completes Sale of the Copper Road Project

TORONTO, May 10, 2024 (GLOBE NEWSWIRE) -- Further to its news releases dated February 14 and April 30, 2024, Copper Road Resources Inc. (TSXV: CRD, OTCQB: SAGGF) (“Copper Road” or the “Company”) is pleased to announce that it has completed the sale of its 100% interest in the 24,000-hectare Copper Road Project located in Batchewana Bay, Ontario to Sterling Metals Corp. (TSXV: SAG, OTCQB: SAGGF) (“Sterling”). Pursuant to the terms of a definitive share purchase agreement dated February 13, 2024 between the Company, Sterling and a wholly-owned subsidiary of the Company (the “Subsidiary”), Sterling acquired the Subsidiary, which holds the Copper Road Project, in consideration for: (i) the payment of $460,000 in cash; and (ii) and the issuance of an aggregate of 108,087,669 common shares of Sterling (the “Consideration Shares”), of which Copper Road retained 21,838,123 Consideration Shares, representing approximately 9.9% of the issued and outstanding common shares of Sterling. Computershare Investor Services Inc., the registrar and transfer agent for Sterling, commenced distribution of the remaining 86,249,546 Consideration Shares today to shareholders of Copper Road on pro rata basis (the “Distribution”).

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