TSX Venture Symbol: WNP
VANCOUVER, March 6 /CNW/ - Anchorage Capital Master Offshore Ltd.
("Anchorage"), a major shareholder of Western Prospector Group Ltd. ("Western
Prospector"), has commenced an action against Maximum Ventures Inc.
("Maximum") in the Supreme Court of British Columbia. Anchorage's action
against Maximum is being brought under the allegations of Maximum's failure to
disclose under the securities legislation and breaches of the Competition Act.
Anchorage's claims under these allegations against Maximum are in the
amount of $4,683,012.50 for general damages and $4,500,000 for punitive
damages, together with costs and interest in connection with these claims.
A copy of Anchorage's Statement of Claim filed with the Supreme Court of
British Columbia will be available for viewing on Western Prospector's
In the news release of March 3, 2006, the Company advised that a lawsuit
naming Western Prospector as a defendant has been commenced in the Supreme
Court of British Columbia, in which the plaintiff, Maximum Ventures Inc., is
seeking, among other things, a declaration that Western Prospector holds
certain of its material Mongolian properties, including a portion of the
Saddle Hills Uranium interests, in trust for Maximum. Western Prospector is of
the view that Maximum's allegations against Western Prospector are without
foundation or merit and, as noted in previous releases, Western Prospector
will vigorously defend the action and take all appropriate steps to protect
Western Prospector's interests.
"John S. Brock"
John S. Brock
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. The statements contained in this release
that are not historical facts are forward-looking statements, which
involve risks and uncertainties that could cause actual results to differ
materially from targeted results. Mineral resources which are not mineral
reserves do not have demonstrated economic viability. The Company relies
upon litigation protection for forward looking statements.
For further information:
For further information: Blaine Monaghan, Manager, Investor Relations at
(604) 687-4951 or toll free 1-800-403-2988, or email firstname.lastname@example.org