WCB Resources Confirms Porphyry Style Mineralisation With High Order Rock Chip Grab(i) Results at Its Misima Island Project

- stockwork veining and skarn mineralisation have returned high order copper, gold and silver results - elevated results are typically associated with elevated levels of magnetite

- rock chip grab(i) results are coincident with the large aeromagnetic high and strong soil copper and gold anomalism

- aeromagnetic anomaly has previously not been adequately tested

- high order gold silver rock chip grab(i) results associated with pyritic veining

- project upgraded


VANCOUVER, Oct. 16, 2012 - WCB Resources Ltd. ("WCB" or the "Company") (TSX VENTURE:WCB) announces that rock chip grab(i) sampling covering the Porphyry Target area have returned significant copper, gold and silver results. Porphyry style veining and alteration has been identified and sampled including multi directional stockwork and skarn. Most notably, high order results were returned from samples with associated magnetite alteration. WCB previously reported the delineation of a large magnetic high anomaly coincident with an equally significant copper and gold soil anomaly in the target area where these samples have been collected (see release dated September 23, 2012). In addition to these results associated with magnetite alteration, high grade gold and silver results have been returned from sericite pyrite veining.

Systematic exploration continues to upgrade the Misima Project with the recent delineation of porphyry style stockwork zones and skarn associated with magnetite alteration. These zones are exposed in tracks covering the main Porphyry Target area. Ongoing mapping will continue to delineate the distribution of this mineralisation.

Results from samples containing magnetite include:

- Copper - values range from 0.16% to 10.05% typically associated with secondary copper oxides
- Gold - values range from 0.19 g/t to 3.01 g/t
- Silver - values range from 4.7 g/t to 277 g/t

In addition to the magnetite dominated alteration, grab samples containing well developed sericite pyrite veining has been identified. Results from this style of veining typically have a strong lead and zinc association and have returned:

- Gold - values range from 1.17 g/t to 86.9 g/t
- Silver - values range from 0.6 g/t to 131 g/t

Cameron Switzer, President and CEO said, "These are very welcome results. As we advance through each systematic phase of our exploration, the results continue to surpass our expectations. Our team has now identified classic porphyry Cu Au style mineralisation within the interpreted Porphyry Target area that contains the large 1100m by 900m magnetic anomaly. Importantly our results now highlight the strongly elevated precious metal credits associated with this mineralisation style. We will continue with the current work program of mapping and channel sampling to define our drill locations as well as continue to advance the other exciting target areas including Quartz Mountain, Boiou, and the most recently the newly identified Grants prospect areas."


Quality Assurance/Quality Control

Exploration at the Misima Project is supervised by Cameron Switzer, President and CEO, who is the Qualified Person under NI 43-101. All geochemical information for the Company's projects is obtained and reported under a quality assurance and quality control (QA/QC) program which includes the usage of Standard Operating Procedures and the insertion of Certified Geochemical Standards. Rock chip samples are collected under the supervision of company geologists in accordance with standard industry practice. Samples are dispatched via commercial transport to an accredited laboratory in Brisbane, Australia for analysis. Results are routinely examined by a suitably qualified geologist to ensure laboratory performance meets required standards.

Sample locations are recorded by GPS devices in GDA94 Z56.

Rock samples were assayed for 35 elements by ALS Minerals Brisbane using method ME-ICP41 or 33 elements using ME-ICP61, and for gold by method Au-AA25. ME-ICP41 is a partial digestion using aqua regia and ICP-AES and ME-ICP61 a "near total" digestion using 4 acid and ICP-AES. Au-AA25 is used to detect ore grade levels from 0.01 to 100 g/t gold on a nominal 30 gram sample using fire assay with AAS.

(i) Rock chip grab samples by nature are only indications of metal tenor and are unlikely to represent the average grade of a deposit.

Mr. Cameron Switzer, BSc (Hons), MAIG (3384), MAUSIMM (112798), President and Chief Executive Officer of WCB Resources, is a qualified person as defined by National Instrument 43-101. He is responsible for quality control of exploration undertaken by WCB. Mr. Switzer has reviewed and approved the technical information in this release.


Grant of Options

The Company also announces that it has granted 400,000 stock options to certain directors, officers and consultants of the Company. 200,000 of the options havec an exercise price of $0.60 while the remaining 200,000 have an exercise price of $0.45. All options are exercisable up to October 16, 2017.


About EL1747

From a geological and mineral deposits perspective, EL1747 is located in the same terrain and geological region that includes the deposits of Grasberg, Ok Tedi, Hidden Valley, Wafi-Golpu, Lihir, Simberi and Panguna as well as significant projects such as Tolukuma, Kainantu and Woodlark Island. Misima Island has previously demonstrated mineral deposit pedigree through the past production of 4.0M ounces of gold and 20M ounces of silver from various operations but most recently the Misima Mine owned by Placer Dome Asia Pacific. This mine ceased open pit production in 2001 and closed in 2004.

EL1747 Misima consists of 53 sub blocks covering an area of 180km2. The exploration license was targeted due to the presence of a significant high order copper stream sediment anomaly in multiple drainages which has received limited detailed follow up activity. Furthermore, additional high order gold and zinc anomalies have been identified and require follow up detailed work.

WCB is expected to earn up to a 70% interest in EL1747 Misima by spending a total of AUD$9.0M within a 4 year timeframe.

Further details of this announcement and further technical information regarding Misima Island and EL1747, can be located at www.wcbresources.com/news-releases/.


About WCB Resources

WCBd is an aggressive minerals exploration and development company that brings together a strong, interdisciplinary, and proven management team with the ability to take a project from discovery right through to operation.

WCB's strategy is to build shareholder value through acquisition, exploration and development of copper gold projects. This strategy is being developed by a synthesis of WCB's core skills in project evaluation, structured acquisition, exploration and project development and operations, areas where WCB directors and executives have significant experience.

We believe that our capabilities and experience, combined with an efficient corporate structure, provide tremendous potential upside for investors. WCB is engaged in an ongoing search and evaluation of additional copper gold projects in the Asia Pacific region.


On behalf of the Board of Directors

Cameron Switzer
President and Chief Executive Officer


Forward Looking Statements:

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including, without limitation, statements potential mineralization, the estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals in respect of the transaction, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with operating in foreign jurisdictions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Mineral exploration and development of mines is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review their annual filings that are available at www.sedar.com. Neither 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.

The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.


Table of Results

                           Au-    Ag-    As-    Cu-    Mo-    Pb-    Zn-   Cu-   Ag-
SAMPLE   AMGE94   AMGN94  AA25  ICP41  ICP41  ICP41  ICP41  ICP41  ICP41  OG46%  OG46
779101 	476837 	8824103 	0.01 	0.1 	4 	5 	0.5 	9 	29 		
779102 	476831 	8823962 	0.02 	0.1 	1 	75 	0.5 	1 	129 		
779103 	476905 	8823890 	0.005 	0.1 	1 	22 	0.5 	3 	113 		
779104 	477049 	8823985 	0.005 	0.1 	1 	92 	0.5 	6 	93 		
779105 	477056 	8824037 	0.01 	0.1 	7 	4 	0.5 	2 	72 		
779106 	476818 	8823887 	0.01 	0.1 	1 	2 	0.5 	14 	35 		
779107 	477540 	8822739 	0.005 	1.7 	45 	166 	3 	60 	69 		
779108 	477540 	8822739 	0.02 	5 	14 	1660 	1 	18 	539 		
779110 	477572 	8822915 	0.61 	9.3 	245 	124 	0.5 	245 	532 		
779111 	477655 	8822898 	1.5 	100 	72 	10000 	13 	45 	46 	10.05 	217
779112 	477690 	8822880 	0.12 	2.7 	184 	1800 	18 	29 	259 		
779113 	479852 	8819832 	0.005 	3 	37 	244 	0.5 	3 	48 		
782701 	479517 	8821041 	0.26 	0.6 	7 	112 	1 	350 	187 		
782702 	479843 	8821010 	0.93 	38.2 	15 	10000 	9 	21 	214 	9.07 	
782704 	479542 	8821781 	86.9 	79.6 	191 	4460 	4 	3530 	1880 		
782705 	479774 	8821488 	0.91 	10.3 	63 	1600 	1 	3600 	221 		
782706 	478702 	8822481 	3.1 	100 	35 	10000 	0.5 	51 	275 	3.68 	160
782707 	478441 	8822429 	0.21 	4.7 	74 	217 	2 	44 	700 		
782708 	478759 	8821938 	0.39 	5.1 	30 	9700 	2 	12 	2790 		
782709 	476561 	8824249 	4.22 	100 	94 	2160 	12 	8300 	2000 		131
782710 	478654 	8822033 	0.77 	18.1 	74 	10000 	0.5 	13 	165 	2.65 	
779115 	479151 	8821649 	0.02 	0.3 	26 	1825 	60 	47 	103 		
779116 	479856 	8821002 	3.01 	36.6 	51 	10000 	24 	6 	119 	7.75 	
779117 	479829 	8821091 	0.09 	1.3 	80 	1325 	4 	4 	74 		
779118 	479024 	8822600 	0.02 	9.1 	56 	1030 	26 	8 	11 		
779119 	479337 	8822770 	0.005 	0.6 	2 	783 	10 	1 	3 		
779120 	478731 	8821961 	0.01 	2.3 	5 	3790 	12 	11 	556 		
779121 	478731 	8821961 	0.005 	5.1 	1 	652 	0.5 	9 	828 		
779122 	478743 	8821949 	0.25 	19.1 	8 	10000 	15 	6 	487 	2.03 	
779123 	478758 	8821948 	0.01 	13.1 	2 	1180 	0.5 	21 	7050 		
779124 	478765 	8821938 	0.03 	4 	46 	10000 	12 	9 	4000 	1.51 	
779125 	478769 	8821932 	0.19 	70.3 	277 	7080 	10 	581 	1230 		
779126 	478780 	8821924 	0.05 	7.9 	8 	1340 	0.5 	25 	1200 		
779127 	478757 	8821934 	0.05 	5.1 	10 	380 	1 	326 	785 		
779128 	478765 	8821929 	0.01 	2.9 	4 	205 	1 	731 	689 		
779129 	478802 	8821922 	0.07 	2.8 	10 	1040 	5 	149 	201 		
782711 	479844 	8821002 	0.74 	4 	31 	157 	1 	123 	75 		
782712 	480497 	8820309 	1.17 	10.1 	17 	938 	13 	10000 	432 		
782713 	479950 	8822576 	0.28 	30 	494 	4780 	12 	329 	2210 		
782714 	479404 	8822085 	0.005 	1.1 	2 	288 	0.5 	148 	249 		
782715 	479216 	8822027 	0.04 	4.8 	33 	596 	1 	119 	344 		
782716 	477578 	8818938 	0.22 	8.7 	16 	148 	24 	10000 	336 		
782717 	477658 	8818983 	0.15 	4.2 	8 	375 	3 	2270 	3380 		
782718 	477561 	8818941 	3.91 	16.7 	56 	292 	80 	2390 	1600 		
782719 	477738 	8819061 	0.11 	1.3 	19 	176 	1 	41 	65 		
782721 	477610 	8818964 	0.53 	4.3 	11 	142 	14 	805 	2450 

Neither 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.



Contact

WCB Resources Ltd
Shaun Maskerine
smaskerine@wcbresources.com

WCB Resources Ltd.
Cameron Switzer
cswitzer@wcbresources.com

WCB Resources Ltd.
Andreas Curkovic
Investor Relations
416-577-9927