Weststar Receives Exchange Approval on Acquisition of Ground Contiguous to Zenyatta, Brookemont Capital and Cavan Ventures
24.07.2013 | Marketwire
VANCOUVER, Jul 24, 2013 - Weststar Resources Corp. (TSX VENTURE:WER) (the "Company") is pleased to announce that it has received TSX Venture Exchange (the "Exchange") acceptance on the Albany South East Property acquisition announced on July 16, 2013. The Company has acquired 100% interest in 19 mineral claims, covering approximately 304 hectares located within the Porcupine District of Central Ontario (the "Property"), contiguous to the southeast side of Zenyatta Ventures Ltd. (TSX VENTURE:ZEN) ("Zenyatta") Albany (vein-type) Graphite Deposit Discovery and contiguous to the west of Brookemont Ventures Inc. (TSX VENTURE:BKT) and Cavan Ventures Inc. (TSX VENTURE:CVN).Zenyatta is developing the Albany Graphite Deposit, one of the world's largest hydrothermal (high purity) graphite deposits.
In consideration for the Property, the Company shall make a cash payment of $15,000 and issue 2,750,000 common shares in the capital of the Company to arms-length vendors. In conjunction with the transaction, the Company will issue 275,000 common shares of the Company to an arms-length party as a finder's fee.
About Weststar Resources
Weststar Resources is committed to evaluating, securing and advancing Canadian mineral properties. Weststar's current stable of properties include its advanced "Axe" Porphyry Copper-Gold Project, 20 kilometers north of Princeton, BC, a Letter of Intent with Cartier Resources to acquire up to 80% interest in the "Diego" Quebec Property, approximately 20 kilometres west of TomaGold's Monster Lake Project and its "Tahts Reach" Property, adjacent to Gold Reach's Ootsa Property.
For further info on the Company, please visit www.weststarresources.com or email info@weststarresources.com.
On Behalf of the Board
Will Rascan
President, Weststar Resources Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Contact
Weststar Resources Corp.
Will Rascan, President
(604) 945-6749
www.weststarresources.com