Western Graphite In Negotiations To Acquire Fully Producing Graphite Mine
TORONTO, May 6, 2013 /PRNewswire/ -- Western Graphite Inc. (OTCBB: WSGP) is pleased to announce it is currently in negotiations to acquire a fully producing graphite "Khara Mine" located in the same area as the Amorf property. The mine that we are currently in negotiations with is located very close to the Amorf Property and consists of approximately 2000 acres. The company is still negotiating terms to see whether the graphite deposit mineable life will be large enough in order to ensure long term production with as minimal costs possible. We are diligently working at trying to purchase a mine as the revenues from production will greatly assist the company with funds that can be used to get our Pure Flake mine into production quicker and also to build a plant on our property or grow a partners plant than can handle increased production.
About Western Graphite Inc.
Western Graphite is a publicly traded US exploration company focused developing its property in Canada and Turkey, which comprises almost 7313 acres which is one of the largest land portfolios within a public graphite company. Western Graphite aims to be a major world class producer of graphite and become a major supplier of this commodity. Our goal is to become a large enough producer so as to help North America become graphite self-sufficient, avoiding the need to import from foreign producers. www.westerngraphite.com
Hudson's Bay Centre. 2 Bloor Street, Suite 3500
Toronto Ontario M4W 1A8
Website: www.westerngraphite.com (visit website for detailed info on company)
Safe Harbor Statement:
Some information in this press release constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements such as but not limited to, the quality and concentration of minerals present on the Pure flake or Amorf Graphite property's, the carrying out of planned exploration programs and results analysis, the establishment of probable or proven resources, and the possible future economic production of minerals. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Western Graphite Inc. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Western Graphite Inc. disclaims any obligation to update forward-looking statements contained in this press release, except as may be required by law.
This announcement may also contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
SOURCE Western Graphite Inc.