Williams Creek Announces Second Quarter Financial Results
28 September 2011 - 6:25AM
Marketwired
Williams Creek Gold Limited (TSX VENTURE: WCX) ("Williams Creek",
"WCX", or the "Company") is pleased to announce the release of its
unaudited Financial Statements as well as its Management's
Discussion and Analysis for the three and six months ending July
31, 2011. These financial statements have been prepared in
accordance with the International Financial Reporting Standards
(IFRS).
For the three and six months ending July 31, 2011, the Company
is reporting a net loss and comprehensive loss of $2,737 and
$152,625 respectively. For the three months ending July 31, 2011,
the Company recognized a gain of $118,121 on held for trading
investments for a year to date net gain of $44,177.
The Company is continuing with its exploration programs on its
mineral properties and incurred $926,813 in expenditures during the
quarter. As at July 31, 2011 the Company had working capital of
$5,116,818 which included $4,873,576 of cash and cash equivalents
compared to working capital of $7,079,602 at January 31, 2011 and
$5,508,503 at July 31, 2010.
The unaudited Financial Statements and Management's Discussion
and Analysis are available on the Company's website
(www.williamscreek.ca) under "Company Filings" and will be
available shortly on Sedar (www.sedar.com).
On behalf of the Board of Directors
Michael R. Sonnenreich, Chairman and C.E.O.
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 known as the Barkerville Project 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. Williams Creek also holds
the BOPS Project consisting of 32 unpatented lode mining claims in
Pershing County, Nevada.
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
(778) 370-1393 (604) 688-1320 (FAX) www.williamscreek.ca
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