Hornby Bay Mineral Exploration Ltd. (TSX-V: HBE) announces that, further to its press release of January 30, 2020, it has completed the sale of its 5% net smelter return royalty on the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company received the initial cash payment of $2,500,000 from Copper Mountain Mine (BC) Ltd. and a promissory note in the amount of $2,500,000, representing the balance of the $5,000,000 purchase price, which is due on February 1, 2021.
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We acknowledge the [financial] support of the Government of Canada.