CopperCorp Resources Inc. (TSX-V: CPER) (OTCQB: CPCPF) (FSE: NU0) is pleased to announce that it has closed the second and final tranche of its upsized non-brokered private placement raising total proceeds for both tranches of $2,500,319.

The second tranche of the Offering consisted of the issuance of 10,882,354 Units (as defined below) purchased by a strategic investor and Crescat Portfolio Management LLC. Crescat purchased the Units pursuant to an investment agreement with the Company and, on closing of the of the Offering now holds 9.3% of the issued shares of Coppercorp on an undiluted basis.

Kevin Smith, CFA, Founder and CEO of Crescat, commented, “We are happy to support CopperCorp with their ongoing drill program at Razorback. Crescat joined several other well-respected private investors in the resource sector who clearly also share our opinion that the discovery of a copper-gold deposit in an established mining jurisdiction such as Tasmania would be well received. We have observed that over the past year the technical staff on site have made significant in-roads into a better understanding of the geology and analogies with the nearby Mt Lyell deposit. With drilling anticipated to start next week we will be closely following this company’s progress over the coming months.”

Dr. Quinton Hennigh, Crescat’s Geologic & Technical Advisor, added, “CopperCorp has a large, strategic land holding around the famous Mt Lyell copper-gold deposit in Tasmania. Basically, the company holds all of the geologic upside to this important copper-gold story. Sibanya-Stillwater is currently putting Mt Lyell through a feasibility study with the intent of a restart in the not too distant future. In the meantime, CopperCorp has a long queue of very high quality ‘Mt Lyell’ analogue drill targets to test. In my view, CopperCorp’s timing couldn’t be better to potentially deliver several new discoveries in a re-emerging world class copper-gold camp.”

“I am delighted to close this financing and see the funds being put to immediate use in the Phase 2 drilling campaign at Razorback. Razorback is host to several high priority targets, the first of which Hydes has never been drilled before. I will be travelling to site next week and will report regularly on the progress at Hydes and other target locations on our 100% owned property,” commented Stephen Swatton, President and CEO of CopperCorp.

Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each Warrant entitles the holder to purchase one additional Share at a price of $0.13 per Share for a period of two years from closing of each tranche of the Offering.

The Company intends to use the proceeds of the Offering for exploration drilling and development of the Company’s Hydes and Jukes properties, located in western Tasmania, Australia and for general working capital.

In connection with the closing of the Offering, CopperCorp paid finder’s fees totaling C$59,974.50 and issued a total of 705,582 finder’s warrants (under the same terms as the Warrants). The Offering is subject to all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of each tranche of the Offering.

The Offering included participation by insiders of the Company in the aggregate amount of 352,941 Units. The participation in the Offering by these insiders constitutes a related party transaction within the meaning of Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. In connection with the participation by the insiders, the Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of the participation did not exceed twenty-five percent of the market capitalization of the Company (as determined under MI 61-101).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About CopperCorp

CopperCorp is a TSX.V listed exploration company focused on the exploration and development of its Skyline, and AMC copper-gold-REE projects in western Tasmania.