TORONTO, ONTARIO--(Marketwired - July 28, 2016) - Hornby Bay Mineral Exploration Ltd. ("Hornby") (TSX VENTURE:HBE) announces that it has filed a claim in the Supreme Court of British Columbia against Copper Mountain Mine (BC) Ltd. ("Copper Mountain") related to Copper Mountain's failure to pay Hornby's five percent (5%) net smelter returns royalty (the "NSR") covering part of the Copper Mountain Mine. The claim requests special damages for non-payment of due royalties and general damages for breach of contract.
The NSR covers approximately 4,000 acres (1619 ha.) or approximately 22.3% of the 18,000 acre (7284.34 ha.) property comprising the Copper Mountain Mine, which is a joint venture between Copper Mountain (which owns a 75% interest) and Mitsubishi Materials Corp. (which owns a 25% interest).
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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Chris Irwin, Secretary