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Vancouver, British Columbia: BatteryOne Royalty Corp. (“BatteryOne” or the “Company”) is pleased to announce that it has acquired an existing 2.0% net smelter return royalty (“NSR”) on future copper production on the Cantarito claim (“Cantarito”) of the La Fortuna deposit(1) (“La Fortuna Deposit”). The La Fortuna Deposit is one of the two deposits, the other being Relincho, located 40km apart, comprising the NuevaUnion project (“NuevaUnion”) in the Huasco Province in the Atacama Region of Chile.

Alex Tsukernik, President and CEO of BatteryOne commented, “We are pleased to acquire a royalty on a meaningful portion of one of the world’s premier copper-gold development projects, with two great companies in Teck and Newmont as operators. We are delighted by the support of the investment community in financing this acquisition, and more broadly, BatteryOne’s model of acquiring royalties with exposure to the world’s premier copper and nickel projects. We were oversubscribed on our capital raising target of C$5mm and welcome new investors to be part of Company’s exciting growth plans. We will shortly be commencing the public listing process with the TSX Venture Exchange, which we hope to complete later this year.”  

The acquisition was completed as a joint venture with Metalla Royalty & Streaming Ltd. (TSXV:MTA) (NYSE American: MTA) (“Metalla”) with the companies (the “Purchasers”) having formed a special purpose vehicle to hold the Cantarito royalty (the “Royalty”). BatteryOne is paying US$6mm to acquire the rights to the copper revenue from the Royalty and Metalla is paying US$2mm to acquire the rights to the gold revenue from the Royalty. The total acquisition value is US$8mm, with US$3mm cash on closing, US$1mm cash in 12 months after closing, and US$4mm at commercial production from the Royalty, to be paid equally in cash and common shares of the Purchasers. All acquisition payments will be split pro rata between the Purchasers with BatteryOne paying 75% and Metalla 25%.   


NuevaUnion is a 50-50 JV between Teck Resources Limited (“Teck”) and Newmont Corporation (“Newmont”). NuevaUnion is one of the world’s largest copper-gold development projects. A prefeasibility study was completed in April 2018, which disclosed production of 224,000 tonnes of copper, 269,000 ounces of gold, and 1,700 tonnes of molybdenum on average over the first 5 years. Teck disclosed that a  feasibility study was commenced in the third quarter of 2018 for completion during the first quarter of 2020.

Cantarito is one of the four main areas historically explored at the La Fortuna Deposit, and sits immediately adjacent to the largest area, La Fortuna. The La Fortuna – Cantarito area comprises the largest hydrothermal alteration system of the La Fortuna Deposit, with a quartz-sericite alteration in excess of 1.2 km2. Based on an optimized pit-shell at commodity prices of $2.25/lb copper and $950/oz gold, Cantarito accounts for approximately 8% of the resource tonnes of the La Fortuna Deposit. Cantarito’s mineralization and prospective exploration ground provide strong leverage to project expansion and higher commodity prices.

As of December 31, 2018, Teck reported the following reserves and resources for the La Fortuna Deposit.

La Fortuna – Reserves (100% basis)


Tonnes (millions)

Copper Grade (%)

Contained Copper (000 t)

Gold Grade(g/t)

Gold (millions of ounces)













Proven + Probable






La Fortuna – Resources (100% basis)


Tonnes (millions)

Copper Grade (%)

Contained Copper (000 t)

Gold Grade(g/t)

Gold (millions of ounces)



















Cantarito’s position in the overall La Fortuna Deposit is shown below in the regional geology map of the district.

news feb 18 2020 01

Cantarito’s approximate position in the proposed open-pit La Fortuna deposit is shown below.                    

news feb 18 2020 02                                                .

(1)   La Fortuna was previously known as El Morro under the controlling ownership of Goldcorp and New Gold Inc.
(2)   See the Annual Report of Teck filed on SEDAR on March 13, 2019.
(3)   See the technical report by RPA for New Gold in the Technical Report on the El Morro Project, Region III, Chile dated March 23, 2012.
(4)   See the Annual Information Form of Teck filed on SEDAR and dated February 27, 2019.
(5)   Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

QUALIFIED PERSON                                               

Technical information contained in this news release originates in the public disclosure set out above and has been reviewed and approved by Christian Rios, AIPG Certified Professional Geologist, Advisor to BatteryOne and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.


BatteryOne is a private royalty company focused on gaining exposure to the world’s premier copper and nickel deposits, that will be required for the electric energy transition. The Company will shortly commence the listing process with the Toronto Venture Exchange with the objective of completing it later in 2020.  

For further information, please visit our website at




Alex Tsukernik, President & CEO
Phone: 604-696-4241
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.



Except where otherwise stated, the disclosure in this press release relating to Project NuevaUnión is based on information publicly disclosed by the owners or operators of this property and information/data available in the public domain as at the date hereof and none of this information has been independently verified by BatteryOne. Specifically, as a royalty holder, BatteryOne has limited, if any, access to the property subject to the NSR. Although BatteryOne does not have any knowledge that such information may not be accurate, there can be no assurance that such third party information is complete or accurate. Some information publicly reported by the operator may relate to a larger property than the area covered by BatteryOne’s NSR interest. BatteryOne’s royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.



Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information include, but are not limited to, statements with respect achievement of commercial production and payments related thereto at Project NuevaUnion, exploration potential, future development, production, recoveries and other anticipated or possible future developments on the properties on which the Company holds royalty and stream interests or relating to the companies owning or operating such properties; current and potential future estimates of mineral reserves and resources; potential improvements of project economics and anticipated cost of production; potential improvements to capital efficiency; future optimization of mine plans; future cash generation; the timing of the sale or other disposition of companies or mining properties; potential reduction of environmental impact; potential improvements to community benefits; and the potential for BatteryOne to become one of the leading metal royalty and streaming companies. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of BatteryOne to control or predict, that may cause BatteryOne's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: changes in commodity prices; lack of control over mining operations; exchange rates; delays in or failure to receive payments; delays in construction; delays in the sale of the mines; third party reporting; and the other risks and uncertainties disclosed under the heading “Risk Factors” in the Company’s most recent annual information form, annual report on Form 40-F and other documents filed with or submitted to the Canadian securities regulatory authorities on the SEDAR website at and the U.S. Securities and Exchange Commission on the EDGAR website at BatteryOne undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.