WestKam Gold Signs Definitive Agreement to Acquire the McConnell Property in British Columbia
NEWS RELEASE
NEWS RELEASE
WestKam Gold Signs Definitive Agreement to Acquire
the McConnell Property in British Columbia
Vancouver, Canada, July 24, 2023 – WestKam Gold Corp. (TSX-V:WKG)(the “Company” or
“WestKam”) is pleased to announce that it has signed a definitive agreement with an arm’s length
party, GGL Resources Corp., to purchase 5 mineral claims commonly referred to as the
McConnell property, located in northwestern British Columbia. The Company will acquire a 100%
interest in the McConnell property by issuing to the vendor such number of common shares as
will result in the vendor holding a 19.99% interest in the Company as of the closing date after
giving effect to the issuance of these shares. When issued, the shares will be subject to a
statutory 4 month and a day hold period from the closing date under applicable securities laws.
The vendor will also retain a 2% net smelter return royalty on the McConnell property. Closing
will occur upon all conditions precedent being met, including, amongst other things, receipt of
TSX Venture Exchange approval.
The McConnell property comprises 8,700 hectares in the Golden Horseshoe region of British
Columbia. The road-accessible property is located 22 km southeast of the past-producing
Kemess Copper-Gold Mine in close proximity to a hydro grid. The property has active exploration
and drill permits, and has had over $4 million in prior exploration work. Potential copper/gold
porphyry style systems have been identified along with shear hosted, gold mineralization. Satellite
remote sensing structural interpretation and data synthesis has confirmed the gold and copper
zones as high priority targets for further exploration. An additional 5 high priority and 11
secondary priority areas have been identified using the same criteria. Future areas of
investigation are spread along the entire property and are coincident with the major geological
faults.
WestKam CEO, Peter Laipnieks, comments, “The completion of this acquisition will provide
WestKam with a major exploration project that checks all the boxes: critical metal and gold targets,
road accessible, near other mines in a world class exploration district and acquired for what we
believe is a fair cost.”
Lorne Warner is a qualified person as defined by National Instrument 43-101 and has reviewed
and approved the scientific and technical disclosure in this news release.
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About WestKam
WestKam Gold Corp. is a Canadian-listed junior gold exploration company focused on exploring
and developing projects in Western Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
“Peter Laipnieks”
Peter Laipnieks, President & CEO
Contacts:
WestKam Gold Corp.
Contact: Investor Relations
Suite 900, 570 Granville Street 250.216.5674
Vancouver, BC V6C 3P1
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.
Forward-looking information
All statements included in this press release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future are forward-looking statements.
These forward-looking statements involve numerous assumptions made by the Company based on its
experience, perception of historical trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances. In addition, these statements involve substantial
known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will prove inaccurate, certain of which are beyond the
Company’s control. Readers should not place undue reliance on forward-looking statements. Except as
required by law, the Company does not intend to revise or update these forward-looking statements after
the date hereof or revise them to reflect the occurrence of future unanticipated events.