Westminster to Recommence Trading; Extend Warrant Terms
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2018) - Westminster Resources Ltd. (TSXV: WMR) is pleased to announce that the TSX Venture Exchange has confirmed that Trading will resume at the open. Westminster Resources was halted as part of the acquisition of the Peru Copper projects, which consist of two advanced exploration projects, Ilo Norte and Ilo Este, and a number of nearby extensions and earlier stage targets, totalling 44 concessions covering 36,000 hectares in the coastal copper belt of southern Peru. This region of southern Peru hosts numerous producing copper porphyry and IOCG deposits, with Peru being the third-largest producer of copper. Ilo Norte is an IOCG type deposit that has had significant prior drilling, while Ilo Este is a large copper porphyry system with coincident gold, silver and molybdenum mapped at surface over more than 3 square kilometres.
The Company continues to pursue the Final Approval for the Peru Copper Project Acquisition, but the Exchange has cautioned that this resumption does not constitute acceptance of transaction.
The Company also announces that it is applying to the TSX Venture Exchange to extend the term of the warrants issued August 18, 2017 as part of a private placement.
A total of 3,747,500 warrants were issued at an exercise price of $0.35 for a one-year term. Given the length of time the Company's shares have been halted to complete the Peru copper project acquisitions, management is applying for TSX Venture approval to extend the term to two years, expiring on August 19th, 2019. No warrants have been exercised to date.
Westminster Resources is a Latin American focussed mining exploration company. The company is in the process of acquiring a 100% interest in a package of highly prospective copper properties in southern Peru. These properties total over 36,000 hectares within the country's prolific coastal copper belt—source of nearly half of Peru's copper production. Prior work has identified both porphyry and IOCG style mineralization. The company also holds a 100% interest in the 18,000-hectare El Cobre property in Sonora State Mexico, prospective for world-class epithermal and copper-gold porphyry systems.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
President & CEO
For further information regarding Westminster Resources Ltd., please call 604-608-0400, Toll Free: 1-877-608-0007.
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This news release may contain forward-looking information which is not comprised of historical facts. Forward- looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans, including the proposed transaction with Latin Resources Limited and closing of such transaction. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.