Copperhead Resources Closes First Tranche of Private Placement

Copperhead Resources Inc. (CSE: CUH), a mineral resource exploration company, has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $92,250. The company issued 1,230,000 common shares at a price of $0.075 per share, with the proceeds to be used for working capital purposes.

The first tranche of the private placement was oversubscribed, with insiders of the company accounting for $73,500 of the gross proceeds. The participation of insiders in the Offering reflects the company's confidence in its prospects and the value of its shares. The exemption from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions further supports the notion that insiders are confident in the company's prospects and the value of its shares.



The completion of the first tranche of the private placement has significantly bolstered Copperhead Resources' financial position, enabling the company to pursue its exploration plans for the Red Line Project more aggressively. The Red Line Project is situated along the Eskay Rift belt of rocks that host the Eskay Creek Au-Ag deposit 30km to the south, with an Inferred Mineral Resource estimate of 4.3g/t AuEQ oz. The Project features an extensive land package with 10 claims covering 3,989 hectares and is strategically located in the central part of the "Golden Triangle" mineralized district of NW British Columbia.

The funds raised through the private placement will be used to support the Company's ongoing exploration activities on the Red Line Project, which has the potential to host significant mineral resources. The company's strategic focus on exploration and growth aligns with its long-term objectives, and the completion of the first tranche of the private placement is a significant step towards achieving these goals.

In conclusion, the successful completion of the first tranche of the private placement has provided Copperhead Resources with the necessary financial resources to fund its exploration plans for the Red Line Project, while also preserving the company's capital structure and maintaining investor commitment. The company's strategic focus on exploration and growth, combined with the support of its insiders, positions Copperhead Resources well for future success in the mineral exploration and development sector.