July 11th, 2025 – TheNewswire - Western Star Resources Inc. (CSE: WSR) (the “Company” or “Western Star”) is pleased to announce that it has entered into an agreement (the “Agreement”) to acquire (the “Acquisition”) the Discovery Property (the “Property”) located approximately 50 km southeast Revelstoke British Columbia. The 1942.10 ha Discovery Property is directly adjacent to the 2797.96 ha Western Star Property.
Blake Morgan, CEO and President of Western Star, stated “The 100% acquisition of the Discovery Property has increased our flagship Property by 69.4% in size. The historical 2012 AEROTEM survey, clearly shows an extension of the Western Star Property. With this acquisition now signed we can focus on our planned 2025 drill program. With drill permits in place the team is eager to press ahead.
The Discovery Property consists of three known showings:
The Glenside Showing is of three quartz and galena veins can be traced from Lardeau Creek to a point about 300 metres distant where they unite in one large vein which can be traced for kilometres. At a point about 150 metres below where the three veins unite, a tunnel is in a distance of 24 metres, on the centre small vein.
The Muskateer Showing is on the east side of Ferguson Creek, a southerly flowing tributary of Lardeau Creek. The Muskateer Showing have disseminations and large pockets of massive pyrite and pyrrhotite in phyllite. The Muskateer showing is underlain by folded, deformed and schistose rocks of the middle member of the Jowett Formation. The unit contains deformed argillite and limestone, and brown, grey and greenish tuff and volcanic breccia - some of which contains fragments of limestone.
The Copper Mountain Showing was discovered in the early 1900s, traces of copper were located in debris below a cliff of chlorite schist, above an alpine glacier near the head of Surprise Creek. By 1912, a 6.7 metres long adit had been driven into the schist at 1844 metres elevation. The Copper Mountain showing is underlain by folded, deformed and schistose rocks of the Index Formation.
The Property is underlain by the Badshot Formation that is composed of a thick Cambrian limestone that is a distinctive marker horizon in the Trout Lake area. It is underlain by Hamill Group quartzite, and it is overlain by a younger assemblage of limestone, calcareous, graphitic and siliceous argillite and siltstone, sandstone, quartzite and conglomerate, and also mafic volcanic flows, tuffs and breccias, all of which belong to the Lardeau Group.
In 2012 Mineral Mountain Resources Ltd undertook a 1662 line km AEROTEM airborne geophysical survey undertaken which part appears to cover the part of the Discovery Property. The 2012 geophysics appears to illustrate natural extension from the Western Star Property to the Discovery Property and
Derrick Strickland, a shareholder is a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewed and approved the scientific and technical information contained in this news release.
Terms of the Acquisition
The Vendor hereby agrees to sell 100% ownership of the Discovery Property , and the Purchaser agrees to purchase, the Licenses for and in consideration of the issuance of 3,500,000 common shares in the capital of the Purchaser to certain related parties of the Vendor in accordance with the instructions set out in Schedule B, (the “Consideration Shares”), as the common shares of the Purchaser are constituted as of the date of this Agreement, and a cash payment of $75,000 upon closing.
The Vendor acknowledges that the Consideration Shares will be subject to restrictions on resale prescribed by applicable securities laws and the policies of the Canadian Securities Exchange, and that these restrictions will limit the ability to trade the Consideration Shares for a period of four-months-and-one-day from the date of issuance. In addition to the foregoing, the Optionors acknowledge and agree that: (i) the Consideration Shares issued upon closing will be subject to a four (4) month resale restriction expiring four (4) months from the date of issuance; and (ii) the Consideration Shares issued on or before the four (4) month anniversary of the Closing will only be subject to the four-months-and-one-day from the date of issuance resale restriction.
As the transaction will result in the creation of a Control Person, the Company will be seeking approval from a majority of its disinterested shareholders in accordance with the policies of the Canadian Securities Exchange.
Additional Information
Additional information about the Company and the Transaction is available on SEDAR at www.sedarplus.ca under the Company’s profile. The summary of the Transaction set out above is qualified in its entirety by reference to the description of the Transaction in the Company’s filing statement posted on SEDAR.
About Western Star Resources
Western Star Resources is a mineral exploration and development company. The company’s objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders. The company currently owns nine non-surveyed contiguous mineral claims totaling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 kilometers southeast of Revelstoke, B.C., and roughly 10 kilometers north of the abandoned community of Camborne.
Contact Information:
Blake Morgan,
CEO and Director
This email address is being protected from spambots. You need JavaScript enabled to view it.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute “forward-looking information”. In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
