Stock Symbol: WGF: TSX-V
SASKATOON, Feb. 17 /CNW/ - Wescan Goldfields Inc. (WGF: TSX-V) ("Wescan"
or the "Company") is pleased to announce it has received the final 52 coal
permit certificates from the Saskatchewan Ministry of Energy and Resources.
This completes the coal permit applications made by Wescan in the Hudson Bay
region. A total of 281 coal permits have now been issued to the Company
confirming a total area of 190,992 hectares (1,910 square kilometres) in the
Hudson Bay region and include the area adjacent to the coal discovery by
Goldsource Mines Inc.
A plan for a comprehensive drilling program to test several anomalies
within the permit areas is in the advanced stages. As well, a review of
regional geophysics and detailed topographic data is underway to define drill
targets. Environmental permitting with the Saskatchewan Ministry of
Environment for this exploration program is in progress.
A map of Wescan's Hudson Bay confirmed area permits for coal is available
on the Company website at www.wescangoldfields.com .
Patrick Hannon, MASc, PEng, is Wescan's qualified person and is
experienced both in the exploration and evaluation of coal deposits in Canada.
Wescan is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of Wescan trade on
the TSX Venture Exchange under the trading symbol "WGF".
"The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release."
Caution Regarding Forward-looking Information
From time to time, Wescan makes written or oral forward-looking
statements within the meaning of certain securities laws, including the "safe
harbour" provisions of the Ontario Securities Act. Wescan may make such
statements in this MD&A, in other filings with Canadian regulators, in reports
to shareholders or in other communications. These forward-looking statements
include, among others, statements with respect to Wescan's objectives for the
ensuing year, our medium and long-term goals, and strategies to achieve those
objectives and goals, as well as statements with respect to our beliefs,
plans, objectives, expectations, anticipations, estimates and intentions. The
words "may," "could," "should," "would," "suspect," "outlook," "believe,"
"plan," "anticipate," "estimate," "expect," "intend," and words and
expressions of similar import are intended to identify forward-looking
statements. In particular, statements regarding Wescan's future operations,
future exploration and development activities or other development plans
contain forward-looking statements.
All forward-looking statements and information are based on Wescan's
current beliefs as well as assumptions made by and information currently
available to Wescan concerning anticipated financial performance, business
prospects, strategies, regulatory developments, development plans,
exploration, development and mining activities and commitments. Although
management considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking statements will
not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to
differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to, developments in
world gold markets, risks relating to fluctuations in the Canadian dollar and
other currencies relative to the US dollar, changes in exploration,
development or mining plans due to exploration results and changing budget
priorities of Wescan or its joint venture partners; the effects of competition
in the markets in which Wescan operates; the impact of changes in the laws and
regulations regulating mining exploration and development; judicial or
regulatory judgments and legal proceedings; operational and infrastructure
risks and the additional risks described in Wescan's most recently filed
annual and interim MD&A and Wescan's anticipation of and success in managing
the foregoing risks.
Wescan cautions that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements to
make decisions with respect to Wescan, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
Unless otherwise required by applicable securities laws, Wescan does not
undertake to update any written forward-looking statement that may be made
from time to time by Wescan or on our behalf.
For further information:
For further information: Darren Anderson, Investor Relations or Kirsten
Marcia, Vice President of Exploration at (306) 664-2422