Black Sea Copper & Gold Receives Exploration License for Zlatusha Project, Bulgaria

"Black Sea has been in discussions with multiple parties as potential partners for its projects in Bulgaria, and the issuance of the Zlatusha License will allow us to move forward more aggressively with that strategy," stated Vince Sorace, President and CEO of Black Sea Copper & Gold Corp. "As mentioned previously, Black Sea has been and will continue to evaluate more advanced stage projects for potential acquisition and will be selective in ultimately pursuing the opportunities we believe will return the highest shareholder value."

The Zlatusha license area (195 km2) lies within an emerging porphyry copper-gold/epithermal belt located northwest of Sofia, in the Western Srednogorie segment of the Banat-Timok-Srednogorie magmatic arc (Fig. 1). The project opportunity was identified by Black Sea in July 2013 after launching a detailed exploration campaign involving data acquisition, regional targeting and subsequent reconnaissance field exploration programs focused on porphyry copper-gold and epithermal gold targets throughout Bulgaria. The Zlatusha project was selected for license application based on the presence of favourable age and composition Cretaceous arc magmatic rocks, magmatic-hydrothermal mineral occurrences, and the presence of several magmatic-hydrothermal centers with outcropping copper-gold mineralization.