|January 10, 2012|
Bell Copper Provides Update on Van Dyke Acquisition
|Toronto, Ontario-- Bell Copper Corporation ("Bell Copper" or the "Company") (TSX-V:BCU) is providing the following update on its acquisition of the Van Dyke project in Miami, Arizona.|
In April 2010, Bell Copper entered into an agreement which gave the Company the option to purchase the Van Dyke property through an intermediate party. Over the past year and a half, the vendor of the property has attempted to secure clear title to various surface and subsurface mineral rights both within and adjacent to the historical Van Dyke copper deposit, and to provide title insurance on such claims as required under the option to purchase agreement. This was not done within the timeframe provided for in the option agreement and its subsequent extensions, and the Company believes that a number of breaches of the agreement have now occurred.
Discussions with the vendor on entering into modified agreements that would attempt to solve the outstanding claim ownership and title breaches have broken down, and the Company has now engaged counsel to examine its legal options with respect to enforcing its prior agreements relating to the Van Dyke property and possibly seeking damages for breach of such agreements. While the Company will continue to attempt to reach an agreement with the vendor to resolve the remaining title issues and complete the originally contemplated transaction, there can be no assurances that such negotiations will be successfully completed. The Company will, however, aggressively pursue its legal rights and other options and will provide further updates on the status of its negotiations with the vendor as well as on potential legal remedies if required.
About Bell Copper
Bell Copper is a public company with a focus on copper exploration, development and production in North America. The Company has an extensive portfolio of exploration and development projects located in two of North America's premier copper producing regions: Mexico and Arizona.
More information on Bell Copper: www.bellcopper.net
On behalf of the Board of Directors of
Bell Copper Corporation
Michael Werner, CEO & Director
For further information, contact:
Bell Copper Corporation
Tel.: (416) 309-2895
Renmark Financial Communications Inc.
Tel.: (514) 939-3989 or (416) 644-2020
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