Walker River Warrants Exercised
Suite 200-551 Howe St Vancouver, B.C. V6C 2C2 Tel : 819 874-0030 Fax : 819 825-1199 _________________________________________________________________________________________
Trading Symbol: WRR
NEWS RELEASE
WALKER RIVER WARRANTS EXERCISED
Vancouver, B.C. July 8, 2014 - Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce 1,000,000 Common Shares were issued by the Company through warrant exercise for total proceeds of $50,000.00.
On May 21, 2014 the company announced the re pricing of a total of 17,591,666 share purchase warrants to an exercise price of $0.05. The new warrants carry a forced conversion provision whereby if the closing price for the company`s shares is 6.5 cents or greater for 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants, otherwise they will expire on the 31st day.
The company continues with the planning on its upcoming diamond drill program on its wholly owned Lapon Canyon Gold project, located approximately 60 kilometers south of Yerington, Nevada. The company previously announced on June 19 that it had received its drilling permit from the Bureau of Land Management.
Walker’s initial planned diamond drill core program will target potential high grade gold mineralization in cross cutting shear structures. Results and compilation from this initial drill program will be utilized in the planning of a follow up diamond drilling program.
The Lapon Canyon gold project consists of 36 claims (720 acres) located approximately 60 kilometers south of Yerington, Nevada, in the Wasuk Range, easily accessible by secondary state roads from the main highway (25 kilometers). A power transmission line passes within three kilometers of the property.
The Lapon Canyon project is located within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno. The past producing historic Comstock lode silver/gold mine is located within this trend, as is the past producing Esmeralda/Aurora gold mine, with reported production of about one million ounces. Nevada Copper Corp.’s new mine, Pumpkin Hollow, (981000 ounces gold, 34 million ounces silver, 5.4 billion pounds copper) is also located within the Wasuk Range about 25 km north of Lapon Canyon.
The Lapon Canyon project is cut by a series of steeply dipping cross fault structures cutting across the Walker Trend, analagous to other cross fault structures responsible for many gold and base metal deposits in the world. These faults are heavily sheared and altered with abundant silica. They vary in width from 60 to 300 meters. Four of these structures can be seen in Lapon Canyon, and two can be traced over 4 km.
The gold mineralization is located within en echelon structures within these faults.
Small scale high grade gold mining began in 1914. The mine area was at the top of the canyon and at that time it was extremely difficult to access, indicating that the mineralization was rich enough to drag equipment and supplies up a steep canyon. About 600 meters of drifts were developed and a two stamp
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mill was built. Further limited 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 (NI 43- 101 Montgomery and Barr, 2004)
Surface sampling by Walker returned a result of 0.398 ounces per ton gold (see news release Jan 9, 2014)
E.Gauthier,geol., Eng (OIQ) acts as the qualified person to the Company and has reviewed and approved the contents of this release.
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
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