Press Release – GRG International Corp.

For Immediate Release

Mason Valley Copper Has Sold Nevada Mining Claims to Hudbay Minerals

Consolidates High Grade Copper Opportunity

DENVER, CO, Dec. 17, 2020 /CNW/ – GRG International Corp. (“GRG” or “Company”) through its private wholly owned subsidiary Mason Valley Copper Properties Ltd. (“MVCP”), is pleased to announce the Company’s completed sale of a rare consolidated land package of 187 mining claims covering approximately 3,000 acres (“Mining Claims Package”) in the historic Yerington copper mining district in Nevada, USA to Hudbay Minerals Inc. and its subsidiary (“Hudbay”). Previous MVCP consolidation ownership of the 187 mining claims is now further consolidated with Hudbay’s land position and provides a unique opportunity for modern resource development and potential production.

Highlights of the Land Asset Sale (“Agreement”) include:

Hudbay acquired 187 mining claims, including 87 privately owned past producing patented lode-mining claims central to the Yerington Copper District, Nevada and adjacent to Hudbay’s Mason deposit;
The past producing Mining Claims Package includes four historic high-grade underground copper mines previously mined by Col. William Boyce Thompson, founder of Newmont Corporation;
The Agreement includes an upfront cash payment of USD $3,500,000, which has been paid, plus additional obligations including two milestone payments based on Hudbay reporting mineralized ore;
Hudbay has agreed to purchase 0.5% of GRG Net Smelter Royalty (NSR) for USD $500,000 and has the option to purchase an additional NSR of 1.0% which results in GRG retaining in perpetuity an NSR of 1.0%; and
The Agreement includes an exclusive GRG license agreement to commercially develop industrial materials covering approximately 250 acres on private property;

“Mason Valley Copper’s Mining Claims Package covering over 4.25 square miles is strategically placed in a low risk, pro-mining district in Nevada that is undergoing a significant mining revival with over 20 billion pounds of copper metal in resources. With these land assets now consolidated with Hudbay’s sizable land portfolio and production capabilities, we are confident in Hudbay’s expertise to develop producing mines and add significant value to the project to ensure progress in the near future,” said Rana S. Gill, President and CEO of GRG International Corp.

Regional geology of the Yerington copper district showing major copper resources in the district as well as the Mason Valley Copper Properties Project shown in red outline. (CNW Group/GRG Copper)

About GRG International Corp.

GRG International Corp. (“GRG”), is an exploration-stage mineral resource company with assets located in Nevada, USA. GRG is the owner of Net Smelter Royalty (NSR) of 2.5% subject to NSR reduction limit of 1.5% based on certain buy down terms with Hudbay Minerals Inc., (“Hudbay”) and GRG retains an NSR of 1.0% in perpetuity on a land asset of 187 mining claims (“Mining Claims Package”) located in the Yerington mining district, Nevada. GRG can earn from the Mining Claims Package two milestone payments based on Hudbay reporting mineralized ore. GRG retains an exclusive license to commercially develop industrial materials on approximately 250 acres of private property. GRG is the owner of patented lode mining claims in Mineral County, Nevada and a comprehensive mining data package including drilling results, assays and maps to over 120 mineralized properties throughout the United States and Canada.

SOURCE GRG Copper

For further information:

Rana S. Gill, President and CEO, GRG International Corp., (303) 886-8584, rgill@grgcopper.com, www.grgcopper.com