West Mining Fully Executes Option Agreement for Blue Cove Copper Property, Newfoundland
WEST MINING FULLY EXECUTES OPTION AGREEMENT FOR BLUE
COVE COPPER PROPERTY, NEWFOUNDLAND
Vancouver, B.C. – February 4th, 2022– West Mining Corp. (“West” or the “Company”) (CSE:
WEST) (OTC: WESMF) is pleased to announce it has fully executed the Option Agreement
previously announced as an LOI on Jan 25, 2022 with Dean Fraser (the “Optionor”). This transaction
confirms West will has the right to earn a 100% undivided interest in Blue Cove Copper Property.
“The Company is extremely pleased to announce the Option Agreement has been fully executed, and
want to take the opportunity the convey our excitement at closing the deal. We also thank Dean
Fraser for his swift and attentive response, and we look forward to the upcoming 2022 field season.”
Commented CEO of West Mining Corporation Nicholas Houghton.
The Blue Cove Copper Property is located at the head of Fortune Bay, in southeast Newfoundland
and is host to significant copper occurrences in outcrop. Several new targets have been identified by
prospecting over the past two years and copper mineralization can be found locally throughout the
claims. The best assay obtained to date from grab samples at the Blue Cove Property returned values
as high as 5.1% Cu, 33 g/t Ag and 0.27 g/t Au. Copper mineralization generally occurs in altered
volcanic rocks and sediments on the Property with the primary copper minerals being chalcocite with
more minor bornite and chalcopyrite. Widespread copper oxide is readily visible on many outcrops
throughout the property.
The Property consists of 232 claims covering a 5,800 hectare area, striking 22 kilometres adjacent to
the Terrenceville fault structure. Excellent infrastructure also exists in the area, including the nearby
town of Terrenceville which hosts a deep sea port.
Under the Option Agreement West will be able to fully exercise the option by: paying an aggregate
of $160,000 to the Optionor; issuing an aggregate of 1,700,000 common shares in the capital of the
Company to the Optionor; and incurring an aggregate of $750,000 of exploration expenditures on
the Property, as follows:
Cash Shares Work Commitment
On execution of the Option
Agreement (the “Execution
Date”)
$10,000 250,000 -
12 Months after Execution Date $20,000 300,000 $100,000
24 Months after Execution Date $30,000 400,000 $100,000
36 Months after Execution Date $100,000 750,000 $250,000
48 Months after Execution Date $300,000
Aggregate $160,000 1,700,000 $750,000
With West successfully exercising the option, the Optionor is entitled to retain a 3.0% net smelter
returns royalty on the Property, with West having the right to purchase one-third (1.0%) of such net
smelter returns royalty from the Optionor for $1,000,000 at any time.
Linda Dandy, P.Geo., a “Qualified Person” for the purpose of National Instrument 43-101, has
reviewed and approved the technical contents of this news release.
About West Mining Corp.
West Mining Corp. is a mineral exploration company acquiring and developing advanced and
prospective early-stage exploration projects. It is fully focused on its 100% owned, 9000 hectare
Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining
Properties: Kena, Daylight and Athabasca. A recent NI43-101 resource estimate for Kena gave
561,900 oz Au indicated and 2,773,100 oz Au inferred at a cut off of 0.25 g/t Au contained within
the Gold Mountain, Kena Gold and Daylight Zones. The Kena Property also hosts the large Kena
Copper Zone, along with with the historic Euphrates and Gold Cup gold-silver mines. The Daylight
property contains the historic past producing Daylight, Starlight, Victoria, Irene and Great Eastern
gold mines. Along trend to the north is the Athabasca Property, with the historic Athabasca Gold
Mine. The historic mines and known mineralized zones on these three properties are structurally
controlled along a 20 kilometre strike as identified by strong geophysical signatures.
For additional information, please refer to the Company’s public disclosure record available on
SEDAR at www.sedar.com.
West Mining Corp.
Nicholas Houghton
President & CEO
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in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”,
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respect to future events, and current information available to them, and are subject to certain risks, uncertainties and
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