Williams Creek Gold Limited Exercises Warrants, Acquires 5,000,000 Shares in Tyhee Gold Corporation
29 July 2011 - 11:00PM
Marketwired
Williams Creek Gold Limited (TSX VENTURE: WCX) ("Williams Creek" or
"the Company") is pleased to announce that it has increased its
holdings in Tyhee Gold Corporation (TSX VENTURE: TDC) ("Tyhee") to
15,500,000 shares from 10,500,000 shares. The additional shares
were acquired through the exercise of 5,000,000 warrants that
Williams Creek had acquired as part of its initial investment in
Tyhee (Williams Creek News Release, November 1, 2011). The cost of
the investment was $625,000 ($0.125 per share).
"We believe that Tyhee, a late stage development company, is an
excellent investment for Williams Creek because it allows us to
participate in a significant gold project that is in the permitting
stage and which is moving towards production perhaps more rapidly
than financial market participants recognize," said Michael
Sonnenreich, Chief Executive Officer and Chairman of the Board of
Williams Creek. "Williams Creek has a three-part strategy
consisting in: a) exploration, b) investment and joint venture, and
c) debt and royalty financing. Our investment in Tyhee is a very
good example of the second part of this strategy."
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams
Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the
primary purpose of participating broadly in the natural resource
sector, with an emphasis on the gold subsector, through
exploration, joint ventures or other equity investments, royalty
and finance agreements.
Williams Creek Gold Limited owns twenty-eight Crown Granted
mineral claims in the immediate vicinity of Barkerville, BC in the
Cariboo mining division. The Cariboo gold belt and the Barkerville
Camp have a long history of gold production dating back to the
1800s. Historically the Barkerville Camp has reported gold
production of 3.8 million ounces, including 2.6 million ounces from
surface placer and 1.2 million ounces from lode mining. When placer
gold production peaked in the late 1890s, Williams Creek Gold's
Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish
(District Lot 1F) and Wintrip (District Lot 32F) Crown Granted
mineral claims were among the first acquired in the early search
for lode gold.
Williams Creek Gold Limited also owns a block of four mineral
claims 17km west of Barkerville known as the Pine Properties. The
Company has three Crown Granted mineral claims in the Kamloops
Mining Division, two of which are adjacent to New Gold's New Afton
project. Additionally, Williams Creek Gold Limited has a net 30%
interest in the ATW diamond property in the MacKenzie Mining
District of the Northwest Territories.
On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events and conditions and therefore involve inherent risks and
uncertainties. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. While
these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current
judgment regarding the direction of our industry, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested herein. Except as required by applicable law, the Company
does not intend to update any of the forward-looking statements to
conform these statements to actual results. All phases of the
Company's operations are subject to environmental regulation and
governmental approval and permits and there can be no assurance
that the Company will obtain all the requisite permits for future
development. Mining is an inherently risky business with large
capital expenditures and cyclical metals markets.
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.
Contacts: Williams Creek Gold Limited Michael R. Sonnenreich
Chairman and CEO (778) 370-1393 (604) 688-1320 (FAX)
www.williamscreek.ca
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