LAC LA HACHE, BRITISH COLUMBIA — GWR Resources Inc. (the “Company” or “GWR”) (TSX Venture: GWQ) is pleased to report it has completed acquisition of a large group of 93 claims (31,140 hectares) contiguous with its existing Lac La Hache porphyry-copper-gold/skarn-type copper-magnetite property (5,780 hectares) located in central British Columbia.
GWR has acquired an undivided 100% interest from Candorado Operating Company Limited, in a group of claims referred to as the Murphy Block (subject to existing third party NSRs on some of the claims) for a cash payment of $870,000, the issuance of an aggregate of 2,400,000 common shares at a deemed price of $.25 and 2,000,000 warrants exercisable to purchase one additional common share at $0.40 for a two year period. This transaction has been approved by the TSX-V and is now completed.
The acquisition is strategic, targeting regional-scale geophysical anomalies extending from the recently expanded (2010-2011 drilling) high-grade copper-magnetite (+ gold, silver) skarn-type mineralization within the Spout North and South Zones (please refer to related image and new Presentation available at www.gwrresources.com). GWR has applied for an Exploration Permit for the Murphy Block and has commenced exploration planning along the prominent aeromagnetic trend. While waiting for drill permitting, a deep-sensing Quantec Titan-24 Survey across the newly acquired magnetic feature is currently underway.
GWR President and CEO John van Driesum says: “This acquisition demonstrates our continued confidence in the economic potential of existing Lac La Hache claims, in the probable extension of these zones to the North into the Murphy Block, and in the broader region in this part of the Quesnel Trough. We look forward to drill testing these geophysical anomalies in 2012, in addition to the ongoing Program at Lac La Hache.”
This news release may contain “forward-looking statements”. Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these “forward looking statements”.
GWR is an active mineral exploration company currently exploring for gold and base metals on two properties within Canada. The Lac La Hache copper-gold porphyry project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located in British Columbia’s prolific Quesnel Trough between producing mines at Imperial Metals’ Mt. Polley Copper-Gold Mine and New Gold Inc.’s New Afton Copper-Gold project (Teck-Cominco’s legendary Afton mine). The Lac La Hache project is well-served by rail, road and power infrastructure. The Sainte Sabine gold (+Ag, Zn, Cu) property is located within the Bellechasse Mineral Belt in southeastern Quebec, adjacent to known zones on Golden Hope Mines’ Bellechasse Project.
For further information, please contact:
John van Driesum, President/CEO
Telephone Number: 778-440-4472
Rob Shives, VP Exploration
Telephone Number: office 250-396-4978 / cell 613-882-1755
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.