Hasbrouck GOLD Project Permitting Update
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News Release No. 127-2020
August 4, 2020
HASBROUCK GOLD PROJECT PERMITTING UPDATE
VANCOUVER, BRITISH COLUMBIA, August 4, 2020 – West Vault Mining Inc. (WVM:TSXV) (“West
Vault” or the “Company”) reports that EM Strategies, environmental consultants to the Company, has
advised that the public comment period for the Environmental Assessment (“EA”) on the Hasbrouck
Gold Project (“Hasbrouck”) has closed . The Bureau of Land Management (“BLM”) received two
comment letters at the end of the comment period as part of the National Environmental Policy Act
(“NEPA”) process. One of the letters, from an environmental group, asserts, among other items, that
the min e should have been reviewed by the BLM under a more extensive Environmental Impact
Statement, (“EIS”) process rather than the current Environmental Assessment (“EA”) . The BLM is
currently reviewing those letters as part of their comment response.
The Company believes that the environmental approvals process for Hasbrouck has been completed
in line with detailed consultation with the BLM. The Three Hills mining area has already been granted
federal and state permits in order to allow for the first phase of mining at Hasbrouck.
West Vault is focused on advancing the Hasbrouck Gold Project in Tonopah, Nevada. The Company
owns a 75% interest in, and a 1.1% net smelter return royalty over, the Hasbrouck Gold Project and
announced on July 22, 2020 the execution of definitive agreements for the purchase of the remaining
25% interests from Clover Nevada LLC, a wholly owned subsidiary of Waterton Precious Metals Fund
II Cayman, LP (“Waterton”) . The Company is working towards completing full permitting for the
Hasbrouck Gold Project’s reserves while keeping corporate G&A costs lean and efficient.
The Hasbrouck Gold Project, comprised of the planned Three Hills mining area and the nearby
planned Hasbrouck Mine, hosts an estimated 762,000 ounces of proven and probable gold reserves
and 10,569,000 ounces of proven and probable silver reserves (proven reserves of 6,242,00 tons at
a grade of 0.02 Au oz/ton plus 0.41 Ag oz/ton and probable reserves of 39,028,000 tons at a grade of
0.016 Au oz/ton plus 0.205 Ag oz/ton). For details see the “Technical Report and Updated Preliminary
Feasibility Study: Hasbrouck and Three Hills Gold -Silver Project, Esmeralda County, Nevada” dated
September 14, 2016 as filed on SEDAR at www.sedar.com.
Sandy McVey, P.Eng., Chief Operating Officer for the Company, as a non -independent Qualified
Person as defined by National Instrument 43 -101 - Standards of Disclosure for Mineral Projects (“NI
43-101”), has reviewed and approved the technical information disclosed in this news release.
Neither the 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.
On behalf of West Vault Mining Inc.
“R. Michael Jones”
Chief Executive Officer
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SUITE 838 – 1100 MELVILLE STREET, VANCOUVER, B.C. CANADA V6E 4A6 TEL: 604-899-5450 FAX: 604-484-4710 WWW.WESTVAULTMINING.COM
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Michael Jones, Chief Executive Officer
T: (604) 685 8311
Please see the Company’s website at www.westvaultmining.com or contact us by email at
Disclaimer for Forward-Looking Information
This press release may contain forward-looking information or forward-looking statements (collectively
"forward-looking information") within the meaning of applicable securities laws. Forward-looking
information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”,
“postulate” and similar expressions, or are those, which, by their nature, refer to future events.
Forward-looking information in this news release includes, without limitation, discussion of the potential
timing and outcome of the permitting process for the Hasbrouck Gold Project; the purchase of a 25%
interest in the Hasbrouck Gold Project; and costs. Estimates of mineral reserves and mineral
resources are also forward -looking infor mation because they incorporate estima tes of future
developments including future mineral prices, costs and expenses and the amount of minerals that
will be encountered if a property is developed. Although West Vault believes that such information as
set out in this press release is reasonable, it can give no assurance that such expectations and
estimates will prove to be correct. The Company cautions investors that any forward -looking
information provided by the Company is not a guarantee of future results or performance, and that
actual results may differ materially from those in forward -looking information as a result of various
factors, including, but not limited to, the Company may be unable to obtain the regulatory approvals
required for permitting the Hasbrouck Gold Project, or such approvals may not be obtained on a timely
or cost-effective basis; the Company or Waterton may be unable to satisfy the closing conditions to
the purchase of the 25% interest in the Hasbrouck Gold Project or such transaction may not close for
other reasons; the state of the financial markets for the Company's equity securities ; the state of the
market for gold or other minerals that may be produced generally ; significant increases in any of the
machinery, equipment or supplies required to develop and operate a mine; a significant change in the
availability or cost of the labor force required to operate a mine ; a significant increases in the cost of
transportation for the Company’s products; variations in the nature, quality and quantity of any mineral
deposits that may be located ; and the Company's ability to obtain any other necessary permits,
consents or authorizations required for its activities, to raise the necessary capital or to be fully able to
implement its business strategies and other risks associated with the exploration and development of
mineral properties. The reader is referred to the Company's public filings for a more complete
discussion of such risk factors and their potential effects which may be accessed through the
Company's profile on SEDAR at www.sedar.com.
Cautionary Note to U.S. Investors Regarding the Use of Mining Terms
This press release has been prepared in accordance with the securities laws in effect in Canada,
which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all reserve
estimates reported by the Company are in relation to a 2016 Updated Pre-Feasibility Study and have
been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and
Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43 -101 is a rule
developed by the Canadian Securities Administrators which establishes standards for all public
disclosure a n issuer makes of scientific and technical information concerning mineral projects.
Canadian standards, including NI 43 -101, differ significantly from the requirements of the U.S.
Securities and Exchange Commission Industry Guide 7 (“Guide 7”), and reserve information contained
herein may not be comparable to similar information disclosed by U.S. companies. In particular, and
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SUITE 838 – 1100 MELVILLE STREET, VANCOUVER, B.C. CANADA V6E 4A6 TEL: 604-899-5450 FAX: 604-484-4710 WWW.WESTVAULTMINING.COM
without limiting the generality of the foregoing, “reserves” established under NI 43-101 standards may
not qualify as “reserves” under Guide 7 standards. Under Guide 7 standards, mineralization may not
be classified as a “reserve” unless the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the reserve determination i s made. In
addition, under Guide 7 standards, a “Final” or “Bankable” feasibility study is required to report
reserves, the three -year historical average price is used in any reserve or cash flow analysis to
designate reserves and the primary environmental analysis or report must be filed with the appropriate
governmental authority. Disclosure of “contained ounces” in a resource is permitted disclosure under
Canadian regulations; however, Guide 7 normally only permits issuers to report mineralization that
does not constitute “reserves” by Guide 7 standards as in-place tonnage and grade without reference
to unit measures. Accordingly, information concerning mineral deposits set forth in this press release
may not be comparable with information made public by companies that report in accordance with
Guide 7 standards.