Doubleview and Hudbay Sign Definitive Option Agreement to Advance the Hat Copper-Gold Porphyry Project

Doubleview Capital Corp. / Doubleview and Hudbay Sign Definitive Option Agreement to Advance the Hat Copper-Gold Porphyry Project . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

VANCOUVER, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- Doubleview Capital Corp. ("Doubleview") (TSX-V:DBV) (OTC:DBLVF) is pleased to announce that it has entered into an option agreement ("Option Agreement") with Hudbay Minerals Inc. ("Hudbay") in respect of Doubleview's Hat Copper-Gold Project (the "Hat Property"). Under the terms of the Option Agreement, Hudbay will be the operator and has the right to earn up to a 65% interest in the Hat Property in three stages, as follows: 1) spending $25 million on exploration and delivering a mineral resource estimate to earn a 51% interest; 2) spending a further $15 million on exploration and completing a pre-feasibility study to earn a cumulative 55% interest; and 3) spending all amounts required to complete a feasibility study to earn a cumulative 65% interest.

Benefits to Doubleview shareholders

• No dilution to Doubleview shareholders to advance the Hat Property to a feasibility study.
• Doubleview is entitled to receive a substantial portion of the exploration tax credits over the life of the Option Agreement (including 100% of the credits in the first year and 75% of the credits in the second year).
• In order to earn a 65% interest, Hudbay is required to incur the exploration expenditures within the following timeframe:
     -  $25,000,000 of exploration expenditures by June 2022;
     -  An additional $15,000,000 of exploration expenditures by June 2025; and
     -  Uncapped expenditures to deliver a feasibility study by June 2028.
• In addition, Hudbay is required to deliver a mineral resource estimate by June 2022 and a pre-feasibility study by June 2025

"Our ultimate goal with the Hat Property has been to joint venture with a successful and well-respected major mining company," said Doubleview President and CEO Farshad Shirvani. "In this milestone agreement, we have achieved this goal. With Hudbay, we have found a partner with the technical expertise and resources to move this project forward for the benefit of our shareholders."