Western Alaska Minerals Announces Expansion of Exploration and Adminstrative Team and Granting of Options
NEWS RELEASE
WESTERN ALASKA MINERALS ANNOUNCES
EXPANSION OF EXPLORATION AND ADMINSTRATIVE TEAM
AND GRANTING OF OPTIONS
TUCSON, ARIZONA, US – January 23, 2023 – Western Alaska Minerals Corp. (the "Company" or
"WAM") (TSXV: “WAM”) is pleased to announce that the following persons have joined its
exploration and administrative teams:
Brock Bolin, principal of Bolin Geophysical Services, will serve as Geophysical Consultant to the
Company. Mr. Bolin has +20 years as a world-wide exploration geophysicist with extensive
experience in geophysical inversion modeling, geology interpretation, basin assessment, drill
targeting and data processing. Prior to forming Bolin Geophysical, Mr. Bolin spent 17 years with
Newmont Mining Corp. , first as Manager of Geophysical Operations, Americas, then Chief
Geophysicist Operations and lastly as Chief Geophysicist for Global Exploration.
Steve Newkirk will serve as Company Exploration Manager and will oversee onsite geological
operations. Mr. Newkirk has +40 years of experience as an exploration geologist with a focus on
Alaska where he has served as consultant on many exploration drilling projects . He previously
worked for Phelps Dodge at the Tintic Mine, for Cominco American, for Kennecott Greens Creek
Mining, and for Teck-Cominco as Senior Exploration Geologist at the Pogo Mine Project.
Jack DiMarchi, principal of Core Geoscience , will manage all aspe cts of permitting and
environmental compliance for the Company . Mr. DiMarchi, an Alaska Certified Professional
Geologist (CPG), has over 40 years of experience in mining project permitting, project
management and as a consulting geologist with a focus on Alaska. Mr. DiMarchi brings to the
company a unique combination of exploration management and government regulatory
experience with the State of Alaska, where he has managed permits for the Red Dog, Pogo, Fort
Knox, Kensington and Greens Creek mine operations. His permitting experience includes work
on the access road for the Teck Red Dog Mine expansion. His past exploration experience includes
working as Pogo Mine Chief Geo logist for underground development through construction and
commercial production, Senior Consultant, Ajax Molybdenum Project, Kitsault, BC, and Project
Manager for Niblack VMS Project, Alaska
Joan Marrs, co-founder, Officer and Director of Western Alaska Copper & Gold (“WAC&G”), the
predecessor company to WAM , has been appointed Company Vice-President, Administration.
Ms. Marrs was involved in operations, personnel and as financial controller with WAC&G and she
has continued to assist WAM in these areas since its combination with WAC&G. Ms. Marrs will
oversee corporate administration , HR and community relations as well as provide strategic
administrative leadership to the Company.
Sacha Iley, Human Resources Consultant, will lead the Company’s expanded human resources
effort. Ms. Iley brings to the Company extensive HR experience in Alaskan exploration companies
including working with NOVAGOLD, Trilogy Metals and most recently Copper Mountain Mining
Corporation in British Columbia, Canada.
Grant of Options.
The Company is also pleased to announce that it has granted options for 1,165,000 common
shares at an exercise price of C$3.16 for a period of five years of which 850,000 have been
granted to Directors and Senior Officer s, including an officer conduc ting investor relations
activities for the Company. The remaining amount has been granted to employees, advisors, and
consultants.
About WAM
WAM is an Alaska and Arizona based company, listed on the TSX -V and focused on discovery of
high-grade, district -scale ore systems in the historic Illinois Creek Mining District located in
western Alaska. WAM’s 100% owned claims cover 73,120 acres (114.25 square miles or 29,591
hectares), roughly 45 km from the Yukon River. The District encompasses at least five deposits
containing gold, silver, copper, lead, and zinc and was originally discovered by Anaconda Minerals
Co. in the early 1980's. Since 2010, WAM, along with precursor Western Alaska Copper & Gold
Company, has reassembled the Anaconda property package and been engaged in exploring the
District.
The Company currently has 23,810,804 common shares issued and outstanding
and 224,801 proportional shares issued and outstanding. Each proportional share is convertible
to 100 common shares at the request of the shareholder and in the discretion of the Company.
Because of these conversion rights, for market capitalization and financial analysis purposes, the
Company believes it is appropriate to convert the proportional shares to common shares and add
the product of the conversion to the current number of common shares outstanding. When doing
so, the sum of the approximate number of common shares (23,810,804) and converted
proportional shares (22,480,100) equals 46,290,904 shares. Further information regarding the
Company’s share structure is available upon request.
On behalf of the Company
“Kit Marrs”
Kit Marrs
President & CEO
Phone: 1-520-200-1667
For further information please contact:
Vanessa Bogaert, Director of Corporate Communications/IR
Or visit our website at: www.westernalaskaminerals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accept responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements made, and information contained herein may constitute "forward looking
information" and "forward looking statements" within the meaning of applicable Canadian and
United States securities legislation. These statements and information are based on facts
currently available to the Company and there is no assurance that actual results will meet
management's expectations. Forward-looking statements and information may be identified by
such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will",
"could" or "would". Forward-looking statements and information contained herein are based on
certain factors and assumptions regarding, among other things, the estimation of mineral
resources and reserves, the realization of resource and reserve estimates, metal prices, taxation,
the estimation, timing and amount of future exploration and development, capital and operating
costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title
disputes and other matters. While the Company considers its assumptions to be reasonable as
of the date hereof, forward -looking statements and information are not guaranteeing of future
performance and readers should not place undue importance on such statements as actual
events and results may differ materially from those described herein. The Company does not
undertake to update any forward-looking statements or information except as may be required
by applicable securities laws.