As a result of a non-comprehensive review by the British Columbia Securities Commission, GWR wishes to clarify disclosure presented in its Presentation and its April 5, 2013 corporate booth poster, as presented on their website.
On slide 5 of the Presentation and in the corresponding image of the slide on the Poster, the Company disclosed resource figures for the Spout and Aurizon Zones located on the Lac La Hache Property. Disclosure related to the Spout Zones is compliant and has been made in the correct manner, supported by a Technical Report. However, description of “in-house geological” estimates of tonnages and grades for the Aurizon Central and South Zones is non-compliant with CIM requirements.
The Company retracts the statements related to resource figures related to the Aurizon Zones and does not represent that there is a resource in any category within the Aurizon Zones. The information about potential resources within the Aurizon Zones has been removed from all current material. Investors should not rely on the previously and incorrectly reported grade and tonnage figures for the Aurizon Zones. Investors should refer to the currently valid Technical Report available on the Company’s website: http://www.gwrresources.com/i/pdf/SpoutLake-NI43101-Report.pdf.
2) In its recent Management Discussion & Analyses, the Company failed to identify and disclose the relationship to the Company of the qualified person who prepared or supervised the preparation of the technical information it is disclosing. Under section 3.1 of NI 43-101, the Company must do this for all written disclosure of technical information. The MD&A document should have included the following statement: “Rob Shives, P. Geo., GWR Director and V.P Exploration, is the Qualified Person (as defined by NI43-101) who has reviewed and approved the technical content of this report”.
GWR has addressed the above disclosure issues.
GWR is an active mineral exploration company currently exploring for gold and base metals in British Columbia’s prolific Quesnel Trough. The Lac La Hache copper-gold porphyry/skarn magnetite-copper project hosts multiple zones containing gold, copper, silver and magnetite. The project is located 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), adjacent to Woodjam Consolidated Copper - Gold Fields’ Woodjam Project, and is well-served by rail, road and power infrastructure.
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”.
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