VANCOUVER, Jan. 4, 2012 /CNW/ - Bearclaw Capital Corp. (BRL: TSX-V) announces that it has optioned its Castle gold-silver-copper property to West Cirque Resources Inc. (WCQ: TSX-V) . Under the terms of the option agreement dated December 6, 2011, West Cirque can earn a 100% interest in the property by making cash payments of $175,000, issuing 500,000 shares, and funding aggregate exploration expenditures of $2,000,000 over a three year period. The agreement is subject to a 2% net smelter royalty which can be purchased by West cirque for $4,000,000.
The Castle Property, located 68 Kilometers south of Dease Lake in the Liard mining division of British Columbia, is comprised of 603 hectares located in the Klastine Plateau area and covers a 5.5 Kilometer long alteration zone associated with gold-silver and copper-gold mineralization. The property is 25 Kilometers northwest of Imperial Metals' Red Chris copper-gold porphyry deposit and 17 Kilometers north of NGEx Resources' copper-gold porphyry deposit, presently under option to Teck Resources Ltd.
For further technical information regarding prior exploratory work done on the Castle Property, please refer to the January 4, 2011 media release from West Cirque Resources.
The agreement is subject to TSX Venture Exchange approval.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Bearclaw Capital Corp. is an early stage mineral exploration company with mineral properties in British Columbia and Quebec.
For further information:
Bearclaw Capital Corp.
Scott M. Ross
214-3540West 41st Avenue
Vancouver, British Columbia, V6N 3E6
Tel: 604-803-4883 or 604-682-2201
Email: [email protected]