VANCOUVER, March 2 /CNW/ - Western Pacific Resources Corp. (WRP - TSXV) is pleased to announce that it has entered into an agreement with Newmont Mining Corporation to receive historical proprietary data for the Mineral Gulch property, formerly known as the Black Pine Mine. Western Pacific staked the project in late 2009 and now controls 100% of the project area.
Pursuant to the Newmont agreement, Western Pacific was granted access to invaluable exploration, drilling, production, and metallurgical data owned by Newmont and Newmont was granted a first right of offer in the event that Western Pacific proposes to joint venture or otherwise sell the Mineral Gulch property.
"We are extremely pleased to have acquired the historical data from Newmont Mining Corp. This is a very important step in refining our exploration plan moving forward. It would have taken us more than $10 million to complete the work necessary to recreate all the data", said Eric Saderholm, Director.
Western Pacific is commencing a detailed review of the historical data and expects to announce its plans to advance the Mineral Gulch project in the second quarter of 2010.
Mineral Gulch is located in Cassia County, Idaho, along the southeast edge of the Black Pine Mountains. Pegasus Mining acquired the property from Noranda Inc. and produced approximately 520,000 ounces of gold from several small open pits in the late 1980s through the mid-1990s. Historic exploration and mining efforts at the project have generally focused on near-surface, oxidized ore bodies.
For more information about the property, please visit this link on our website:
About Western Pacific
Western Pacific is a gold explorer focused on acquiring advanced-stage projects in the Western United States. A member of the Gold Group, which includes Fortuna Silver Mines Inc., Radius Gold Inc., and Focus Ventures Ltd., Western Pacific has the right combination of exploration and financial professionals to succeed in making a world class gold discovery. For more information, please visit our website at www.westernpacificresources.com.
Curt Everson, M.Sc., P.Geo., is Western Pacific's qualified person for the purposes of National Instrument 43-101 and has prepared or supervised the preparation of the disclosure of any scientific and technical information contained in this news release.
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. Important factors - including the availability of funds, the results of financing and exploration activities, 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 -- that could cause actual results to differ materially from the company's expectations are disclosed in the company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press 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.
For further information: For further information: Contact Information: Tel: (604) 801-5432, Fax: (604) 662-8829, Email: firstname.lastname@example.org, Website: www.westernpacificresources.com