WEST Kirkland Announces Closing of Non-Brokered Private Placement FOR $1,374,000
SUITE 788 – 550 BURRARD STREET, VANCOUVER, B.C. V6C 2B5 CANADA / TEL: 604-685-8311 / FAX: 604-484-4710
News Release No. 104-2018
March 23, 2018
Not for dissemination in the United States or to United States newswire services
WEST KIRKLAND ANNOUNCES CLOSING OF NON-BROKERED
PRIVATE PLACEMENT FOR $1,374,000
VANCOUVER, BRITISH COLUMBIA, March 23, 2018 – West Kirkland Mining Inc. (WKM:TSXV)
(“West Kirkland” or the “Company”) announces that it has closed a private placement of common
shares of the Company first announced on March 13, 2018. The Company issued 22,900,000
common shares at a price of $0.06 per share for aggreg ate gross proceeds of $1, 374,000 (the
“Private placement”). The Private Placement was completed with three of the Company’s major
shareholders and two new inves tors. A 6% finder’s fee amounting to $27,720 was paid on a
portion of the Private Placement, which was otherwise arranged by management.
The Company intends to use the net proceeds of the Private Placement for general working
capital, phase two permitting in Nevada on its 75% -owned Hasbrouck Gold Project, and for
targeted resource expansion drilling and regional exploration on surface gold mineralization
identified on the recently acquired 100% mineral rights at Gold Mountain and Hill of Gold, which
adjoin the Hasbrouck Gold Project.
The shares sold in this Private Placement will be subject to a four-month resale restriction expiring
July 23, 2018.
The common shares sold pursuant to the Private Placement 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, U.S. persons absent registration or a ny applicable exemption from the
registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This
press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in
the United States, nor shall there be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About West Kirkland Mining Inc.
West Kirkland owns a 75% interest in, and a 1.1% net smelter return royalty over, the Hasbrouck
Gold Project in Tonopah, Nevada. A Pre-feasibility Study was completed and updated in 2016 for
two open-pit heap-leach mines comprising the Hasbrouck Gold Project. The Pre-feasibility Study
along with construction-level drawings and all federal and state permits for the phase-one Three
Hills Mine provides a ready-to-construct project. See the technical report titled “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.
Permitting for the phase-two Hasbrouck Gold Project is well advanced.
West Kirkland recently optioned a 100% working interest from Tonopah Divide Mining Company
of certain mineral rights that adjoin the Hasbrouck Gold Project. The Company has identified a
new gold and silver target on this property exposed and sampled in road cuts for 1600 feet. The
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Company looks to add open pit heap leach resources within a short trucking distance to its
planned Hasbrouck heap leach extraction operations.
On behalf of West Kirkland Mining Inc.
“R. Michael Jones”
Chief Executive Officer
For further information, please see the Company’s website at www.wkmining.com or contact us
by email at [email protected].
Investor Relations:
Rob Bruggeman
(416) 884-3556 / [email protected]
Authors and Qualified Persons Statement
Sandy McVey, P.Eng., Chief Operating Officer for West Kirkland, and a non -independent
Qualified Person as defined by N ational Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”), has reviewed the technical information contained in this news release and
has verified the relevant data. Quality Control and Assay information is as previously disclosed in
the Company’s technical reports.
Disclaimer for Forward-Looking Information
This press release contains 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, the intended use of proceeds raised from the Private Placement, including references
to regulatory processes and permitting. Information and discussion about the economic analysis
contained in the prefeasib ility study are also forward -looking statements in that they reflect a
prediction of the mineralization that would be encountered, and the results of mining it, if a mineral
deposit were developed and mined. Although West Kirkland believes that 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 futu re 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 state of the financial markets for the Company's equity
securities, the st ate 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 increase 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, the Company's
ability to obtain any necessary permits, con sents 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
resources and reserve estimates reported by the Company in relation to the 2016 Updated Pre-
feasibility Study have been prepared in accordance with NI 43-101 and the Canadian Institute of
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Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral
Reserves. NI 43 -101 is a rule developed by t he Canadian Securities Administrators which
establishes standards for all public disclosure an 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 (the “SEC”)
Industry Guide 7, and resource or reserve information contained herein may not be comparable
to similar information disclosed by U.S. companies. In particular, and without limiting the
generality of the foregoing, “resources” and “reserves” established under NI 43 -101 standards
may not qualify as “resources” and “reserves” under U.S. standards. Under U.S. 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 is made. In addition, under U.S. standards, a “Final” or “Bankable” feasibility study
is required to report reserves, the t hree-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, the SEC normally only
permits issuers to report mineralization that does not constitute “reserves” by SEC 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 U.S. standards.
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.