WestKam Gold Announces Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/07/12 -- WestKam Gold Corp. (TSX VENTURE: WKG) (the "Company") is pleased to announce a non-brokered private placement consisting of up to 11,750,000 units for aggregate proceeds of up to $1,762,500. The Company will offer up to 6,750,000 flow-through units and up to 5,000,000 units at $0.15 per unit. The flow-through units will be offered at $0.15 and consist of one flow-through common share and one common share purchase warrant exercisable at a price of $0.30 for a period of two years following the close of the private placement. The units will be offered at $0.15 and consist of one common share and one common share purchase warrant exercisable at a price of $0.30 for a period of two years following the close of the private placement.
Proceeds arising from the sale of the units will be used for general working capital. Proceeds arising from the sale of the flow-through units will be used for a multi-faceted exploration program on the Bonaparte Gold Project. The work will consist of prospecting, bedrock mapping and sampling, soil geochemical sampling and geophysical surveying. Results will be compiled and priority targets will be further evaluated by excavator trenching and/or diamond drilling. The work program will concentrate on the central portions of the Bonaparte claim group with emphasis on the potential strike extensions of the Discovery Zone gold-bearing quartz vein system.
Bob Lane, PGeo, is the qualified person for the Bonaparte Gold Project.
About WestKam Gold Corp.
WestKam Gold Corp. is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the company's website at www.westkamgold.com
ON BEHALF OF THE BOARD OF DIRECTORS
Matt Wayrynen, President
Forward looking statements: This release contains statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward looking statements
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.
Contacts:
WestKam Gold Corp.
John Ulmer
Investor Relations
778.994.6453
WestKam Gold Corp.
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1
www.westkamgold.com