Non-Brokered Private Placement Financing

Mar 25, 2013

Vancouver, B.C.: Phoenix Copper Corporation (“Phoenix” or the “Company“) (TSX-V Symbol: PHC) announces a non-brokered private placement of up to 12.5 million units at a price of five cents per unit ($0.05) to raise proceeds of up to $625,000. Each unit will consist of one common share and one common share purchase warrant (the “Unit Warrants”) with each Unit Warrant entitling the holder to acquire one additional common share at a price of 10 cents ($0.10) per share for one year from closing. The Unit Warrants are subject to the right of the company to accelerate the exercise period for the Unit Warrants if the common shares of the company trade above 20 cents ($0.20) for a period of 10 consecutive trading days.

The Company may pay finders’ fees on the private placement proceeds to certain parties in accordance with the policies of and subject to the approval of the TSX Venture Exchange.

The proceeds of the private placement will be allocated toward the drilling program at the Company’s Mine Canyon project (approximately $250,000) as well as for general working capital purposes.

The non-brokered private placement previously announced on January 8th has been cancelled.

Mine Canyon Project

The Company has completed necessary road, drill pad construction and mapping of the underground workings in preparation for diamond drilling on its Mine Canyon project in southeastern Arizona. The program is targeting strong copper mineralization encountered on the surface and extending into recently reopened underground workings more than 300 feet beneath the surface.

High-grade copper ore consisting of gobby bornite in garnet skarn was mined from the property in the 1920s. Adverse claim ownership kept large mining companies such as Asarco, Duval, New Jersey Zinc and Phelps Dodge from conducting any modern exploration work on the skarn since the time that the old mine was in operation. The patented and unpatented mining claims comprising the property were consolidated for the first time in 2012. The company’s planned diamond drilling program will be the first test of the vertical extent of copper mineralization beneath the historic mine workings.

On the Mine Canyon property, a 74-million-year-old (Laramide) composite granodiorite stock cuts a 6,000-foot-thick sequence of Paleozoic carbonate rocks, the thickest accumulation of carbonate rocks in Arizona. The stock and contact zone (skarn) underlies the Mine Canyon project. Bornite-rich skarn deposits that formed along the contact between the granodiorite stock and the top of the Paleozoic carbonate rocks were mined from the patented claims in the 1920s by a prominent Bisbee family.

Qualified Person

Dr. Timothy Marsh, PhD, PEng, president of the company, a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content in this press release.

On behalf of the Board of Directors of Phoenix Copper Corporation

“Brian Leeners”

Brian Leeners, CEO & Director
For further information please contact the Company
Tel: 604.568.1823

http://www.phoenixcopper.com/s/NewsReleases.asp