News

Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) is pleased to announce that the reputable mining contractor Basil Read (Pty) Ltd., a South African based mining and construction company, has been retained effective May 1, 2016 on a day works contract by EBM Mining Namibia (Pty) Ltd. (“EBM”).

The Basil Read contract secures the necessary labour and equipment (including an excavator, grader, front-end loader, hydraulic hammer and trucks) to commence near surface mining at Kombat Copper’s Gross Otavi mining license later this month. EBM expects to commence mining at the main Central Pit on the “Kombat Central” portion of the property early in the third quarter.

The Kombat mill refurbishment and clean up is progressing well and remains on target.

Paul Bozoki, President and CEO of Kombat Copper, having just returned from Namibia, commented: “It is clear that EBM is preparing for production at the Kombat Mine. We are pleased to see that they have selected and contracted a well respected mining sub-contractor who will be mobilizing to commence surface mining at Gross Otavi and the Central Pit while also refurbishing the Kombat mill; which is expected to be in operation late in the third quarter.”

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) today announces that it has launched a non-brokered private placement financing (the “Offering”) of up to 13,750,000 units (the “Units”) at a purchase price of $0.08 per Unit for gross proceeds of up to $1.1 million.

Each Unit is comprised of one common share in the capital of Kombat Copper (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share (a “Warrant Share”) at a price of $0.13 per Warrant Share at any time for before the date that is three years from the date of issue, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.30 or higher on the TSX Venture Exchange, on a volume weighted average basis for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

The securities underlying the Units, including the Shares and Warrants issued on closing, as well as the Warrant Shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period. Closing of the Offering is expected to occur on or about May 12, 2016 and remains subject to a number of conditions, including without limitation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Company will pay up to 5% finders’ fees in connection with the Offering.

The proceeds from the Offering will be used for general working capital purposes.

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Kombat Copper Inc. (TSX-V: KBT) (“Kombat” or the “Company”), has granted a total of 3,010,000 stock options to various directors, officers, employees and consultants. The options may be exercised at a price of $0.085 per common share for a period of five years from the date of grant. The grant of options remains subject to the approval of the TSX Venture Exchange.

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Toronto, Canada – March 3, 2016 – Kombat Copper Inc. (TSX-V: KBT) (“Kombat Copper” or the “Company”) has signed a definitive agreement with EBM Mining Namibia (Pty) Ltd. (“EBM”) to carry out development and mining of lead/copper mineralization at the Kombat Mine while also commencing the refurbishment of the mine infrastructure and production facilities. Production is expected to commence within the year.

The key terms of the definitive agreement are as follows:

• EBM will commence operations in the Kombat East and Kombat Central areas of the Kombat mine for a three year term. The Company’s core areas of Kombat West, Asis West and Asis Far West are excluded. EBM will also focus on the lead enriched Gross Otavi Deposit located 12 km to the west of Kombat
• EBM has committed to making an investment to refurbish certain necessary components and infrastructure, which will benefit Kombat Copper in the future. Kombat Copper will have the right to acquire all the installed components and infrastructure at the end of the three year contract for a nominal N$1 and does not have to invest any capital up front.
• Profits will be split equally between Kombat Copper and EBM. Kombat Copper has agreed to reimburse up to 50% of EBM’s capital investment from 50% of its profit share.
• EBM will pay operating costs directly. To maintain control, Kombat Copper will collect the proceeds from the sale of materials and then pay EBM its contracting fee.
• Kombat Copper will earn a N$150,000 (CAD$15,000) monthly retainer to cover its monthly Namibian carrying costs. EBM has also agreed to assume security costs for the site.
• Kombat Copper also has the right to re-start mining in other areas of the mine and use its infrastructure before the three year contract expires.
• EBM has agreed to manage all environmental compliance associated with re-starting mining operations.
• EBM will source local skilled and non-skilled labour and will utilize local suppliers and contractors, whenever possible, from the Kombat region. In its role as contractor, EBM will be managing the hiring process to support operations.

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