WEST Vault Completes Purchase of 25% Stake of Hasbrouck GOLD Project from Waterton
SUITE 838 – 1100 MELVILLE STREET, VANCOUVER, B.C. CANADA V6E 4A6 TEL: 604-899-5450 FAX: 604-484-4710 WWW.WESTVAULTMINING.COM
News Release No. 130-2020
August 14, 2020
WEST VAULT COMPLETES PURCHASE OF 25% STAKE OF HASBROUCK
GOLD PROJECT FROM WATERTON
VANCOUVER, BRITISH COLUMBIA, August 14, 2020 – West Vault Mining Inc. (WVM:TSXV) (“West
Vault” or the “Company”) is pleased to announce that it has completed the purchase of a 25% interest
in the Hasbrouck gold project, located in Tonopah, Nevada (the “Hasbrouck Gold Project”), from
Clover Nevada LLC, a wholly owned subsidiary of Waterton Precious Metals Fund II Cayman, LP
(“Waterton”). West Vault has now consolidated 100% ownership of the Hasbrouck Gold Project. 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 mineral reserves of 6,242,000 tons
at a grade of 0.02 Au oz/ton plus 0.41 Ag oz/ton and probable mineral 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 under the Company’s profile at
www.sedar.com.
The Updated Preliminary Feasibility Study determined that the Hasbrouck Gold Project would be a
low cost, open pit, heap leach extraction gold mine with modest estimated peak funding of US $47
million and average gold production of approximately 71,000 ounces at an AISC of approximately US
$709 per ounce.
R. Michael Jones, P.Eng., CEO of West Vault said “We are very pleased to consolidate the 100%
project interest in this advanced stage gold project, with good shareholder support at a time of
increased interest in gold and gold mining.” West Vault is focused on advancing the Hasbrouck Gold
Project. The first pit and heap leach area at Three Hills has federal and state permits and Company
is working towards completing full federal permitting for the second phase Hasbrouck Mine while
keeping corporate G&A costs lean and efficient.
To acquire Waterton’s interests the Company paid US $10.0 million in cash and issued 1.0 million
common shares of West Vault to Waterton. The securities issued have a hold period of four months
and one day from closing, expiring December 14, 2020. See further details in the Company’s
announcement of the transaction on July 22, 2020.
Sandy McVey, P.Eng., Chief Operating Officer of 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.
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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
“R. Michael Jones”
Chief Executive Officer
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, Hasbrouck Gold Project
permitting and cost projections. Estimates of mineral reserves and mineral resources are also forward-
looking information because they incorporate estimates 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 the following: risks related to the
novel coronavirus (COVID-19) global health pandemic, other global epidemics, pandemics or public
health crises; 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 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
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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
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 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, “reserves” established under NI 43-101
standards may not qualify as “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 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, 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.