TORONTO, April 1 /CNW/ - Sime Armoyan (the "Offeror") acquired 95,000 shares of WGI Heavy Minerals, Incorporated ("WGI") at a cost of $0.49 per share, representing approximately 0.4% of the outstanding shares of WGI, bringing the Offeror's total holdings in WGI to 2,244,000 shares representing approximately 9.6% of the outstanding shares of WGI.

The WGI shares held by the Offeror, Geosam Capital Inc. ("Geosam"), a company controlled by her husband, George Armoyan, and members of her immediate family with whom she resides, total 3,403,345 shares, representing approximately 14.6% of the outstanding shares of WGI.

The Offeror purchased the shares through the facilities of the Toronto Stock Exchange for investment purposes. The Offeror may, from time to time, acquire additional shares or other securities of WGI, dispose of some or all of the existing or additional shares or other securities of WGI, or continue to hold shares or other securities of WGI in the normal course of the Offeror's investment activities.

The issuance of this news release does not constitute an admission by the Offeror that it is acting jointly or in concert with Geosam or Mr. Armoyan with respect to shares of WGI.

SOURCE Geosam Capital Inc.

For further information:

The Offeror's address is TD Canada Trust Tower, 161 Bay Street, Suite 2400, P.O. Box 217, Toronto, ON, M5J 2S1. To obtain a copy of the early warning report filed in connection with the transaction described above, contact David Shahinian at (416) 855-1929.

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Geosam Capital Inc.

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