Westminster Resources Ltd. - 2014 Cumbral-San Bartolo exploration drilling has commenced
VANCOUVER, March 17, 2014 /CNW/ - Westminster Resources Ltd. (WMR-TSX.V) advises that the 2014 exploration program on the Cumbral-San Bartolo Project, Sonora, Mexico has commenced. The first drill hole was collared on March 13, 2014 and core drilling is proceeding.
In accordance with the terms of the existing Option Agreement pertaining to the Cumbral-San Bartolo property, Capstone Mining Corp. will be the 2014 operator of the approximate 10,000 hectare project. The initial focus is the multi-square-kilometer area of the Montoso porphyry system.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
"Glen J. Indra"
Managed by an experienced exploration team, Westminster is focused on exploring and developing prospects on a land package of approximately 53,613 hectares of contiguous mineral concessions in Sonora, Mexico. These concessions constitute a mineral district scale property serviced by roads, power and water. Approximately 10,109 hectares comprise the Cumbral-San Bartolo option project with Capstone Mining Corp. Capstone has secured a 49% interest in the project having spent $3.3 million to date. Capstone Mining Corp. has elected to assume operatorship of the project in January 2014 under the terms of the Option Agreement where they may earn a further 11% interest by expending an additional $3 million by December 31, 2014. Capstone Mining Corp. may earn a further 10% interest by expending an additional $3 million before December 31, 2015, bringing their total expenditures to $9.3 million to earn a 70% interest.
Westminster's exploration continues in 2014 on its additional 43,000 hectares of mineral concessions where numerous prospective mineralized targets have been identified.
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Westminster Resources Ltd.For further information:
regarding Westminster Resources Ltd., please contact Leif Smither or Fulvio Scrigner at 604-608-0400, Toll Free: 1-877-608-0007 or visit our website at www.westminsterres.com