Westminster Resources Acquires New Copper Property in Canada
TSX VENTURE: WMR
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2018) - Westminster Resources Ltd. (TSXV: WMR) is pleased to announce that it has entered into a letter of intent to acquire an attractive land package in the promising La Ronge district of Saskatchewan. The project package consists of 10,858 hectares within a group of claims historically focused on nickel-PGE, orogenic gold and VMS deposit types.
Glen Indra, Westminster’s President and CEO, commented: “We continue to think this is a good time to acquire interesting projects in the copper space. The La Ronge district has long been prospective for numerous metals, and its copper potential is now only being studied. I’m particularly excited that there is an extensive dataset to be re-complied and re-interpreted to advance the project quickly and cost-effectively.”
The 10,858 ha land package consists of 2 contiguous claims within the La Ronge and Rottenstone Domains, and are located approximately 60 kilometres north east of the town of La Ronge, Saskatchewan, with nearby road access from Highway 102. The property has numerous mineral occurrences which include copper, but also nickel, gold, lead, zinc and uranium. In addition, there are several known historical geophysical conductors identified on the southern part of the package which are of interest.
Regionally, the La Ronge Domain is comprised dominantly of the 150 km long by 10 to 20 km wide Central Metavolcanic Belt, bordered by the Crew Lake Belt of metasedimentary assemblages to the northwest and the MacLean Lake Belt of meta-arkosic rocks to the southwest.
Terms of the acquisition include making exploration expenditures totalling $400,000 over 3 years and issuing 4 million shares in two equal tranches to earn an 80% interest in the property, subject to TSX-V approval. Westminster will be receiving additional historical data for compilation and re-interpretation within the 30-day due diligence period
This news release has been reviewed and approved by Derrick Strickland, P.Geo. (a qualified person for the purpose of National Instrument 43-101, standards and disclosure for mineral projects.)
Westminster Resources is a Latin American focused mining exploration company. The company is in the process of acquiring a 100% interest in a package of highly prospective copper properties in southern Peru. These properties total over 36,000 hectares within the country's prolific coastal copper belt—source of nearly half of Peru's copper production. Prior work has identified both porphyry and IOCG style mineralization. The company also holds a 100% interest in the 18,000-hectare El Cobre property in Sonora, Mexico, prospective for world-class epithermal and copper-gold porphyry systems.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
President & CEO
For further information regarding Westminster Resources Ltd., please call 604‐608‐ 0400, Toll Free: 1‐877‐608‐0007.
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This news release may contain forward‐looking information which is not comprised of historical facts. Forward‐ looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward‐ looking information. Forward‐looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans, including the proposed transaction with Latin Resources Limited and closing of such transaction. Factors that could cause actual results to differ materially from such forward‐looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward‐looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, other than as required by law.