Western Pacific provides update on acquisition of Deer Trail Mine, Piute County, Utah
VANCOUVER, April 15, 2013 /PRNewswire/ - Western Pacific Resources Corp. (the "Company" - WRP: TSXV) is pleased to report that it has paid Deer Trail Mining Company, LLC ("DTMC") a second deposit of $250,000 in accordance with its acquisition agreement with DTMC and Unico, Inc. (announced in the Company's news release of February 26, 2013).
The closing of the acquisition of the Deer Trail Mine, which is located in Piute County, Utah, is expected to occur on or before May 24, 2013. Closing is subject to customary closing conditions, including the acceptance of the TSX Venture Exchange.
About Western Pacific
Western is focused on advancing a strong portfolio of advanced-stage projects in the Western United States, including the permitted Deer Trail Mine, Piute County, Utah. Western's team is led by technical and financial experts who aim to succeed in creating shareholder value. For more information, please visit our website at www.westernpacificresources.com.
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. The ability of the Company to successfully complete the DTM acquisition on time or at all and the Company's ability to successfully place the acquired assets back into production are subject to various risks and other factors, including the risks of obtaining necessary licenses and permits to place the DTM assets back into production, diminishing quantities or grades of reserves; the availability of funds, the results of financing and exploration activities, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with development or mining activities; employee relations; availability and costs associated with mining inputs and labor; the speculative nature of exploration and development, the interpretation of drilling results and other geological data, risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses. Such risks and other factors (which are also disclosed in the Company's documents filed from time to time on SEDAR at www.sedar.com) may cause actual results to differ materially from the Company's expectations.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Western Pacific Resources Corp.