Western Sierra Signs Mining Agreement to Operate the Gold Basin Placer Mine
Posted on: Wednesday, 24 September 2008, 12:00 CDT
Western Sierra Mining Corp. (OTC: WSRA) announced today that the Company has signed a lease option agreement with Arizona-based Pine Creek Mining Corp to operate the Gold Basin Placer mine, located near Wilhoit, Arizona. The agreement also provides Western with the option to purchase the mine, which has proven gold reserves exceeding 150,000 oz. gold with estimated and possible of an additional 300,000 oz. Au.
Western Sierra has worked closely with Pine Creek Mining over the last several months to upgrade the mine infrastructure and prepare the mine site for initial operations.
Michael Chaffee, CEO and president of Western Sierra Mining, commented, "We should complete the current mine site upgrade plan over the next 2-3 weeks and will commence immediate production."
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 areas 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. 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.
Safe Harbor
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.
Source: Business Wire
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