CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) announced on October 26, 2026 that it has entered into a binding tenement sale agreement to divest its Skyline Copper-Gold Project in western Tasmania to Skyline Copper Exploration Pty Ltd, a wholly-owned subsidiary of ASX-listed Bubalus Resources Limited (ASX: BUS). The deal is valued at A$3 million in initial cash and share consideration, plus a contingent A$1.5 million milestone payment and a net smelter return royalty. The transaction allows CopperCorp to redirect capital and technical resources toward its wholly-owned AMC base metal project, including the Jasper Hills prospect.

Key Points

  • CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) announced the binding sale of the Skyline Copper-Gold Project
  • Bubalus Resources will acquire 100% of Skyline for A$1.0 million cash and shares representing approximately 19.95% of Bubalus, plus a contingent A$1.5 million milestone payment and net smelter return royalties
  • Closing conditions include TSXV acceptance, CopperCorp shareholder approval, Bubalus shareholder approval of the Consideration Shares, and Mineral Resources Tasmania licence transfer approval
  • Investors may watch for shareholder votes, regulatory approvals, and the start of drilling at Jasper Hills before year-end

Skyline Sale Structure: Cash, Shares, Milestone, and Royalty

Under the agreement, CopperCorp's subsidiary Georgina Resources Pty Ltd will receive A$1.0 million in cash — inclusive of a A$100,000 exclusivity payment already received — and 28,571,429 Bubalus ordinary shares at a deemed price of A$0.07 per share, valued at A$2.0 million. A contingent milestone payment of A$1.5 million, payable in cash or Bubalus shares at Bubalus's election, is triggered by the definition of a JORC-compliant Measured and/or Indicated Mineral Resource of at least 200,000 tonnes of contained copper equivalent within five years of completion. CopperCorp also retains a net smelter return royalty of 0.5% over EL16/2018 and 2.0% over each other Project licence, with a partial buyback option available to the purchaser for US$1.0 million on or before 1 January 2032.

CopperCorp's Ongoing Exposure Through Bubalus Shareholding and Board Seat

Following completion, CopperCorp is expected to hold approximately 19.95% of Bubalus's issued shares, making it a significant shareholder in the ASX-listed acquirer. For as long as the CopperCorp group holds at least a 10% equity interest in Bubalus, it retains the right to nominate one non-executive director to the Bubalus board, subject to election by Bubalus shareholders. The Consideration Shares will be subject to voluntary escrow, with 25% unrestricted at closing and further 25% tranches releasing at three, six, and nine months after closing. Bubalus has also planned a A$2.5 million first-year exploration programme at Skyline, including approximately 4,000 metres of diamond drilling at the Jukes and Hydes prospects.

AMC and Jasper Hills Now CopperCorp's Primary Focus

With the Skyline divestiture underway, CopperCorp states the transaction allows it to concentrate capital and its technical team on its 100% owned AMC base metal project, which covers approximately 626 km² across two geologically distinct metalliferous zones in Tasmania. The AMC portfolio encompasses an IOCG-style copper-cobalt-gold zone at Alpine and a VMS-style district with precious metal potential at Jasper Hills. The company disclosed that drilling is expected to begin at the fully permitted Jasper Hills prospect before the end of the year, partially co-funded by a Tasmanian Government exploration drilling grant initiative. A finder's fee of 7% of the transaction value in cash and shares is payable upon signing, subject to TSXV acceptance.