Westminster Receives TSX.V Approval for Acquisition of Lithium Claims in NWT
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2016) - Westminster Resources Ltd. (TSXV: WMR) (OTC Pink: WMRSF) (FSE: TQ08W1) is pleased to announce that the TSX Venture Exchange has accepted for filing documentation relating to the Company’s Letter Agreement to acquire a 100% interest in four Lithium prospective mineral claims located east of Yellowknife in the North West Territories. The agreement calls for a payment of $25,000 and the issuance of 500,000 common shares. The original intended agreement as announced in press release on June 16, 2016 called for a payment of $25,000 and the issuance of 2,500,000 common shares.
The claims are adjacent to the 92 Resources Corp., Hidden Lake project. One claim is situated to the East of, and adjacent to, the 92 Resources Corp. ground covering the LU Dyke, which returned values up to 3.06% Li2O, as reported in a news release of June 7, 2016. The remaining two claims are situated adjacent to the 92 Resources Corp. ground in the Southwest. The claim boundaries extend to the proposed limits of 'Yellowknife Pegmatite Belt' that 92 Resources Corp. published as an attachment to a news release dated June 7, 2016.
The Reid lake claim is a few kilometres on possible strike from the Ann (REID) lake occurrence, listed in the NORMIN database as showing id: 085ISW0011, and recently plotted on a map by 92 Resources Corp. as part of a news release dated June 7, 2016. The NORMIN showing information includes reference to a non-43-101 compliant resource: “drilling in 1956 (AR 082243) intersected the dyke at depths of over 100 m and demonstrated continuity in width and grade. A possible resource of 3,335,600 tons grading 1.92% Li2O is reported in GSC publication "Canadian Deposits Not Currently Being Mined" (1989); estimate is from Lasmanis* **
*Potential quantities and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
** A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or reserves. Further work must be carried out to verify all historic information before a resource estimate is possible.
Aurora Geosciences Ltd., of Yellowknife, NT has been engaged to begin a field exploration program.
The Company advises that work is ongoing on the Guayacan, Gold, Silver and Copper project in Sonora, Mexico.
The Technical contents of this release were approved by Glen Macdonald, P.Geo., a qualified person as defined by National Instrument 43-101.
ON BELHALF OF THE BOARD OF DIRECTORS
Westminster Resources Ltd.
Director
Managed by an experienced team, Westminster is focused on exploring and developing prospects on a land package of approximately 17,854 hectares of continuous mineral concessions in Sonora, Mexico. The Company’s focus has been to assemble and explore unique and newly-discovered targets including (a) the Guayacan partially unroofed epithermal and copper-gold porphyry system, and (b) the Sierra Hydrothermal diatreme breccia tertiary rhyolite hosted structure. Systematic exploration of the Company’s new mineral district is ongoing in this region of Sonora with well-developed infrastructure, favorable permitting, and a strong mining history and community support.
For further information regarding Westminster Resources Ltd., please contact Bill Conlin at 604-608-0400, Toll free: 1-877-608-0007.
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.
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. 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. Neither TSX Venture exchange nor its Regulations 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.
