Walker Announces Private Placement and Drill Program
Suite 820-1130 West Pender St
Vancouver, B.C.
V6E 4A4
Tel : 819 874-0030
Fax : 819 825-1199
_________________________________________________________________________________________
Trading Symbol: WRR
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
NEWS RELEASE
WALKER ANNOUNCES PRIVATE PLACEMENT AND DRILL PROGRAM
Vancouver, B.C. November 5, 2018 - Walker River Resources Corp. (“Walker” or the “Company”)
(TSX-V: “WRR”) announces it has arranged a non-brokered private placement of up to 14,000,000 units
(the “Units”, and each a “Unit”) at a price of $0.05 per Unit to raise aggregate proceeds of up to $700,000
(the “Private Placement”). The Company has completed the first tranche of the Private Placement raising
gross proceeds of $185,500.00 from the issuance of an aggregate 3,710,000 Units.
Each Unit shall consist of one common share ( a “Share”) and one Share purchase warrant (the
“Warrant”), whereby each Warrant shall be exercisable into one Share for a period of two (2) years from
closing at a price of $0.10 per Share.
An insider of the Company, Michel David, acquired 620,000 Units directly. The participation by an insider
in the Private Placement is considered to be a “related party transaction” as defined under Multilateral
Instrument 61 -101 (“ MI 61 -101”). The transaction is exempt from the formal valuation and minority
shareholder approval requirements of MI 61 -101, as neither the fair market value of the securities being
issued nor the consideration being paid exceeds 25% of Walker’s market capitalization . The material
change report in connection with the Private Placement was not filed 21 days in advance of the closing of
the first tranche of the Private Placement for the purposes of Section 5.2(2) of MI 61-101 on the basis that
the Subscription Agreement under the Private Placement was not available to the Company until shortly
before closing.
Proceeds of the Private Placement will be used for work on the Company's mineral properties and general
working capital.
The Company may pay finders’ fees in respect of subscriptions from investors introduced by finders.
Finders’ fees shall be payable in cash and Warrants equal to 8% of the Units sold to investors introduced
by finders. The Company has paid $ 4760.00 cash in commissions on the first tranche of the private
placement, and issued 95,200 non-transferable finders’ warrants, each entitling its holder to acquire one
common share at $0.10 for a two (2) period after closing of the private placement.
All securities to be issued in connection with the Private Placement shall be subject to a four -month hold
period in accordance with applicable securities legislation . Closing of the first tranche and the remainder
of the Private Placement shall be subject to receipt of acceptance by the TSX Venture Exchange.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in
the United States or to, or for the account or benefit of, a U.S. Person (as defined in Regulation S under the
U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of
the U.S. Securities Act and applicable U.S. state securi ties laws. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy securities in the United States or to, or for the account or
benefit of, any U.S. Person, nor shall there be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
- 2 -
The Company also announces planning is underway for a reverse circulation (“RC”) drill program on the
Company’s wholly-owned Lapon Canyon Gold Project (the “Project”). The drill program is based on the
results from the previous work on the Project. Drilling will focus on infill and expansion of the Lapon
Rose zone, including follow-up drilling at the new discovery in Hole RC 17-19 (18.6 g/t Au (uncut) over
6.1 metres), located 325 metres away and 200 metres higher than the last known gold mineralization.
The drill program is scheduled to begin on or about November 19, 2018.
About the Lapon Canyon Gold Project
Walker’s initial geological mapping and prospecting on the Project demonstrated the potential for the
emplacement of significant gold mineralization. Previous drilling in 2015, 2016 and 2017 confirmed this
potential.
The Lapon Canyon Gold Project is located approximately 60 kilometres southeast of Yerington, Nevada ,
and consists of 96 claims (1940 acres) easily accessible by secondary state roads. A state grid power
transmission line passes within three kilometres of the Project. The Company owns 100% of the properties
with a 2% NSR payable on 36 of the claims.
The Lapon Canyon Gold Project is cut by a series of steeply dipping cross fault structures cutting across
the Walker trend, analogous to other cross fault structures responsible for many gold a nd base metal
deposits in the world. These faults are heavily sheared and altered (sericite, iron oxides) with abundant
silica, varying in width from 60 to 300 metres. Four of these structures have been discovered at Lapon, and
at least two can be traced for over four kilometres.
Small scale high grade mining began on the project in 1914. Approximately 600 metres of drifts and raises
were developed from two adits and a two-stamp mill was built. Further underground work was carried out,
returning numerous assay values in the range of one ounce per ton, with a sample at the end of an adit
returning 20.6 ounces per ton. (National Instrument 43-101, Montgomery and Barr, 2004). Additional work
on the Project in the following years included the installation of a ball mill and milling facilities.
The scientific and technical content and interpretations contained in this news release have been reviewed,
verified and approved by E. Gauthier, geol., Eng (OIQ) a director of the Company, a Qualified Person as
defined by NI 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michel David”
________________________
Michel David
Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Walker River Resources Corp.
Tel: 819 874-0030
Fax: 819 825-1199
Email: [email protected]
Website: www.wrrgold.com
Neither TSX Venture Exchange nor Its Regulation Service Provider (As That Term Is Defined In The
Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This
News Release.