Lowell Copper And Minaurum Gold Enter Option Agreement

VANCOUVER, BC – Lowell Copper Ltd. and Minaurum Gold Inc. have entered into a binding letter agreement in respect of, among other things, the grant of an option on Minaurum’s Santa Marta VMS project in Oaxaca, Mexico.

Under the terms of the Option, Lowell Copper can acquire up to a 70% interest in the Project in exchange for funding work expenditures and delivering a prefeasibility study, as described below. Minaurum holds an option to acquire a 100% interest in the Project pursuant to an option agreement with the property owner.

As part of the transaction, Lowell Copper has subscribed for 7,500,000 Minaurum units for an aggregate purchase price of C$375,000, which is expected to be closed as the first tranche of a private placement of up to a total of C$750,000.

In addition, Lowell Copper will pay to Minaurum an additional C$125,000 on or before January 31, 2014 in connection with the execution of a comprehensive option agreement.

The work expenditure funding deadlines are structured to correspond to the underlying option exercise requirements and may be extended depending on the timing of the receipt of permits for planned drilling on the Project.

In order to earn an additional 10% interest in the Project for a total 70% interest, Lowell Copper will be required to fund and deliver a prefeasibility study to Minaurum on or before December 31, 2018. If the Option is exercised, a joint venture will be formed in respect of the Project.

Darrell Rader, President and CEO of Minaurum said, "Santa Marta exhibits all of the hallmarks of a significant district-scale VMS system. Dr. J. David Lowell, Chairman and CEO of Lowell Copper commented, "We are very excited about the prospects of the Santa Marta VMS target. Santa Marta represents a very unique and rare opportunity to discover a world class VMS deposit with a relatively low amount of exploration expenditure."

The 7,310 hectare Santa Marta VMS project is located in Oaxaca state, Mexico. Infrastructure is good with a paved highway, power lines and water nearby. Minaurum has carried out airborne geophysics (VTEM), reconnaissance stream-sediment sampling and geological mapping.