Stock Symbol: WGF: TSX-V
SASKATOON, SK, July 30 /CNW/ - Wescan Goldfields Inc. (WGF: TSX-V)
("Wescan" or the "Company") is pleased to announce it has received an initial
package of 83 coal permit certificates from the Saskatchewan Ministry of
Energy and Resources. These permits are adjacent to the claim block hosting
the major coal discovery previously announced by Goldsource Mines Inc.
("Goldsource") (see Goldsource news releases dated April 22 and April 28,
2008). The permits allow Wescan to aggressively explore the area for coal and
cover a period of one year with two possible six-month extensions and
convertible to a 15-year lease.
The area covered by these initial permits is approximately 60,080
hectares (601 square kilometres). A balance of 268 priority sequenced ("first
in line") coal applications listed in Letters of Comfort from Saskatchewan
Energy and Resources, comprising 192,640 hectares (1,926 square kilometres)
remain to be issued (see Wescan news release dated May 27, 2008). A map of
Wescan's Hudson Bay area permits and priority sequenced coal applications is
available on the company website at www.wescangoldfields.com.
Exploration permitting with Saskatchewan Environment is in progress with
an initial program proposal submitted to that department. This primary
drilling will focus on Wescan's southeasterly permits, located adjacent to
Goldsource and proximal to their recent drilling activity.
Patrick Hannon, MASc, PEng, is Wescan's qualified person and is
experienced both in the exploration and evaluation of coal deposits in Canada.
To view map, please visit: http://files.newswire.ca/737/wescancoalmap.pdf
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 Statements From time to time, Wescan
makes written or oral forward-looking statements within the meaning of certain
securities laws, including the "safe harbor" provisions of Canadian securities
legislation. Wescan may make such statements in this press release, in other
filings with Canadian securities regulators in reports to shareholders or in
other communications. These forward-looking statements include, among others,
statements with respect to the receipt of dispositions and permits from
Saskatchewan Energy and Resources, 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
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, the receipt of
dispositions and permits from Saskatchewan Energy and Resources, 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.
Wescan does not undertake to update any forward-looking statement, whether
written or oral, that may be made from time to time by Wescan or on our
For further information:
For further information: Darren Anderson, Investor Relations, or Kirsten
Marcia, Vice President of Exploration, at (306) 664-2422