Western Sierra Mining Announces Mine Evaluation Service Agreement With Private Investment Firm
Western Sierra Mining Corp. (OTC: WSRA) announced today that the company has executed a contract to perform mine evaluation services for a private investment firm headquartered in the southeastern United States.
Under the terms of the agreement, Western Sierra will evaluate five individual mine sites in the western U.S., including one placer mine in southern Arizona, one hard rock mine in central Nevada, two tailing processing projects in Nevada and a silica mine in Utah. It is anticipated that the mine evaluation process will take approximately six to eight weeks to be completed, encompassing traditional due diligence as to ownership, permitting status and historic operating histories for each of the aforementioned properties. Additional mineral and laboratory confirmations will include assay work to ascertain ore grades and the existence of mineral resources on each property.
At the end of the eight-week period, Western will, if warranted, provide additional project feasibility studies to determine actual tonnage and grade of the individual ore resources, including drilling and preliminary system extraction design parameters if warranted upon conclusion of the initial mine evaluation engagement.
Michael Chaffee, CEO & President of Western Sierra Mining, commented, “This contract is evidence of Western Sierra management’s commitment to building out multiple revenue streams over and above the acquisition, exploration of and production on our own properties. Contract services could be a meaningful addition to our core business going forward, and we are pleased to have been selected by this prominent private investment firm – who requested their identity not be disclosed – for their initial mine evaluation needs.”
About Western Sierra Mining Corp.
Western Sierra Mining is an aggressive gold and silver exploration and mining company focused on the historic mining districts of the Bradshaw mountains of Arizona, with additional acres of interest within Nevada and Mexico. Current projects include the SunGold, Oro Cache and the Big Chief mining group, all of which have demonstrated high-grade mineralization with previous histories of production. Western Sierra Management’s intends to continue to acquire attractive gold and silver properties in Arizona, Nevada and Mexico, and to identify the character and size of our potential deposits. Long-term company goals are to create maximum shareholder value by continuing to build a strong base of properties and advance these projects toward production or entering into joint ventures with other junior mining companies.
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Western Sierra Mining Corp. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward looking-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.