Western Pacific provides update on acquisition of Deer Trail Mine, Piute County, Utah
VANCOUVER, April 15, 2013 /PRNewswire/ – Western Pacific Resources Corp. (the “Company” – WRP: TSXV) is pleased to report that it has paid Deer Trail Mining Company, LLC
(“DTMC”) a second deposit of $250,000 in accordance with its
acquisition agreement with DTMC and Unico, Inc. (announced in the
Company’s news release of February 26, 2013).
The closing of the acquisition of the Deer Trail Mine, which is located
in Piute County, Utah, is expected to occur on or before May 24, 2013.
Closing is subject to customary closing conditions, including the
acceptance of the TSX Venture Exchange.
About Western Pacific
Western is focused on advancing a strong portfolio of advanced-stage
projects in the Western United States, including the permitted Deer
Trail Mine, Piute County, Utah. Western’s team is led by technical and
financial experts who aim to succeed in creating shareholder value.
For more information, please visit our website at www.westernpacificresources.com.
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this news release.
This news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may cause
actual events to differ materially from current expectation. The
ability of the Company to successfully complete the DTM acquisition on
time or at all and the Company’s ability to successfully place the
acquired assets back into production are subject to various risks and
other factors, including the risks of obtaining necessary licenses and
permits to place the DTM assets back into production, diminishing
quantities or grades of reserves; the availability of funds, the
results of financing and exploration activities, political or economic
developments in the jurisdictions in which the Company carries on
business; operating or technical difficulties in connection with
development or mining activities; employee relations; availability and
costs associated with mining inputs and labor; the speculative nature
of exploration and development, the interpretation of drilling results
and other geological data, risks associated with the estimation of
mineral resources and the geology, grade and continuity of mineral
deposits, project cost overruns or unanticipated costs and expenses.
Such risks and other factors (which are also disclosed in the Company’s
documents filed from time to time on SEDAR at www.sedar.com) may cause actual results to differ materially from the Company’s
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
news release. The Company disclaims any intention or obligation,
except to the extent required by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Western Pacific Resources Corp.