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    PNGC   CA69356K1003

PNG COPPER INC.

(PNGC)
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GOLDEN BIRCH RESOURCES : PREPARES FOR INITIAL DRILLING AT THE FLAGSHIP OMU COPPER-GOLD PROSPECT, KEVERI PROJECT, PAPUA NEW GUINEA

12/08/2020 | 08:29am EST

TIMMINS - Golden Birch Resources Inc. (CSE: GBRX) ('Golden Birch' or the 'Company') is pleased to announce that preparations for the initial drill program at the flagship Omu copper-gold ('Cu-Au') prospect are nearing completion.

Drilling at the Omu drill site of the Keveri Project, Papua New Guinea ('PNG'), is planned to begin in mid-December, 2020.

Highlights

Drill targets defined; Drill pad has been prepared; Newly acquired CS 1000 drill rig expected to be delivered by helicopter to the Omu drill pad by 15th December; Upgrade of the Waki exploration camp is nearing completion; Drilling planned to commence immediately once drill rig has been assembled on site

Alan Martin, CEO & President of Golden Birch states; 'We are very excited with our preparations for the initial drill program at our flagship Omu prospect. Over the next week we expect to mobilize our CS 1000 drill rig via helicopter to the drill site. We are hoping to begin drilling by mid-December. Our first holes will test the large Omu Main IP target and we look forward to reporting the results.'

Omu Prospect and Initial Drilling Program

The Omu Prospect is one of the main targets associated with the Company's Keveri Project, located approximately 180 km south east of Port Moresby in the Abau District of the Central Province in PNG. The exploration licences straddle a major WNW trending regional structure, the Keveri Fault Zone, which is the southeastern extension of the major structures within the Papuan Mobile Fold Belt. These major structures are important in the emplacement of porphyry and porphyry related copper-gold deposits in PNG. The Company is focusing exploration activities on porphyry-style and porphyry-related Cu-Au mineralization related to mafic to intermediate composition porphyritic intrusive stocks proximal to the Keveri Fault.

About Golden Birch Resources Inc.

Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. The Company is committed to strong community relationships, respect for the environment, and the safety for its employees.

Contact:

Iain Martin

Tel: 705 288 0249

Email: martiniainr@gmail.com

Forward-Looking Statements

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Such statements reflect the Company's present views, future plans, objective or goals, including words to the effect that the Company or management expects a stated condition or result to occur. When used in this document, the words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Many risks, uncertainties, and other factors involved with forward-looking information could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities.

Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, such actual results of current exploration programs, the general risks associated with the mining industry, the price of copper, gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -2,86 M -2,28 M -2,28 M
Net cash 2020 1,44 M 1,15 M 1,15 M
P/E ratio 2020 -4,13x
Yield 2020 -
Capitalization 8,37 M 6,71 M 6,67 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float -
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Managers and Directors
Ian David Lindley Chief Executive Officer
Alan Martin President & Executive Director
Paul Rokeby Chief Financial Officer & Treasurer
Christopher Cornelius Director
Iain Martin Secretary
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