VR Introduction

VR Resources Ltd. (“VR”) is a newly listed junior mineral exploration company (March, 2017; TSXV: vrr.v). The Company’s exploration strategy is well funded via a C$ 4.4 M financing completed concurrent with listing.

VR is the continuance of 4 years of active mineral exploration in Nevada, USA, by a Vancouver-based private company founded and run by two geologists with diverse experience in global mineral exploration, and a proven track record in the junior sector, having steered the sale of three companies in the past 5 years for an aggregate valuation in excess of C$1.3B. The goal of VR is explicit: early-stage discovery, in order to capture the steepest part of the value creation curve in mining for its shareholders.

VR is registered in British Columbia, Canada, and operates out of a head office in Vancouver. Mineral exploration assets are held in a wholly-owned, Nevada-registered subsidiary.

The focus of VR is copper exploration in the western United States, namely Nevada. The precursor private company explored the Bonita Property in Humboldt County, Nevada for three years; the high-risk, early-stage exploration and target delineation was the basis for an independent, NI 43-101 Technical Report which recommended first pass drilling, and was the basis for VR’s Qualifying Transaction. The potential upside of a drill-based discovery at Bonita is leveraged by multiple factors, including:

  • Tight share structure of the new listing, including insider position of approximately 20%;
  • 100% ownership of the asset; no joint venture interests, no carried interests, no royalties;
  • Good infrastructure (roads; power; railroads) for cost-effective exploration and profitable mining;
  • A long history of regulatory support for the mining industry in the state;
  • Major copper and gold mining companies active in Nevada.

VR reviews new opportunities in copper and gold in the western United States on an ongoing basis. VR will bolster its portfolio by the acquisition or staking of any opportunity that is aligned with its strategy, presents synergies with the Company’s existing work, and possesses the opportunity to raise the value of the company for its shareholders.

There is a long history of copper exploration and mining in the western United States. It is an important district for overall copper resource endowment based on extensive exploration and development mid-Century (1900’s) during the birth of the porphyry copper mineral deposit model. The United States is an important supplier in global copper production, and most of the world’s largest copper companies are active in the western United States.