WestMountain Gold Reports 419,604 ounces of Gold Grading 15.30 grams per
tonne (g/t) in Its 43-101 Technical Report
*Indicated and Inferred Resource totals 419,604 ounces gold
*Indicated Resource (5.00 g/t Au cutoff) of 49,809 ounces gold at 13.25 g/t
and 112,723 ounces silver at 29.98 g/t
*Inferred Resource (5.00 g/t Au cutoff) of 369,795 ounces gold (up 28%) at
15.63 g/t and 653,884 ounces silver at 27.63 g/t
*Inferred and Indicated tonnes increase 100% to 852,943
DENVER -- February 21, 2013
WestMountain Gold, Inc. (“WestMountain”) (OTCQB: WMTN), an emerging mineral
exploration and development company, today announced a significant expansion
of the gold and silver resource base at its flagship Terra Project in Alaska.
The NI 43-101 Technical Report, completed by Gustavson Associates, showed
solid increases in tonnes, inferred ounces and gold grade as compared with the
Company’s 2010 report.
The WestMountain report highlights the high-grade nature of the Terra deposit
with a 5.00 g/t cutoff estimate returning an indicated resource of 49,809
ounces of gold at 13.25 g/t and an inferred resource of 369,795 ounces of gold
at 15.63 g/t for a total resource of 419,604 ounces of gold. As compared with
the Company’s previous 43-101 report, tonnes increased 100% to 852,943, the
inferred and indicated resource increased by 150% to 419,604 ounces gold, and
the inferred and indicated grade grew by 25% to 15.3 g/t.
These favorable results followed initial production scale bulk sampling at the
Terra Project in late 2012 that resulted in production of 75 ounces of gold
and 28 ounces of silver.
“The results from our Technical Report underscore the vast potential of our
Terra Project, which we believe will yield more than one million ounces of
gold over the life of the mine,” said Greg Schifrin, President and CEO of
WestMountain. “We are planning an aggressive 2013 field season with a budget
of $4.2 million that covers a larger scale bulk sample program with our
revamped pilot mill, which has the ability to process up to 40 tonnes per day.
In addition, we will continue our exploratory drilling at Terra in an effort
to unlock further value.”
The Terra Project is a joint venture between WestMountain’s Terra Gold Corp.
subsidiary and Corvus Gold Inc. (TSX: KOR, OTCQX: CORVF). The full NI 43-101
Technical Report is available on the Company’s website at
2013 Terra Project Mineral Resources
Terra Vein Resources by Cutoff
Cutoff (Au g/t) tonnes Au g/t Ag g/t oz Au oz Ag
1.00 334,110 6.34 13.87 68,070 148,972
3.00 209,311 9.08 20.87 61,101 140,412
5.00 116,949 13.25 29.98 49,809 112,723
10.00 29,893 29.48 64.41 28,331 61,906
20.00 9,422 67.71 130.82 20,510 39,626
50.00 9,317 68.24 131.32 20,442 39,335
Cutoff (Au g/t) tonnes Au g/t Ag g/t oz Au oz Ag
1.00 2,403,970 6.49 12.08 501,842 933,557
3.00 1,186,363 11.19 21.60 426,938 824,036
5.00 735,994 15.63 27.63 369,795 653,884
10.00 259,430 31.55 41.51 263,143 346,234
20.00 114,835 55.62 54.56 205,365 201,420
50.00 62,324 79.13 71.03 158,556 142,318
About WestMountain Gold, Inc.
WestMountain Gold, Inc. (OTCQB: WMTN) is an exploration and development
company that explores, acquires, and develops advanced stage properties. The
Company has a high-grade gold system in the resource definition phase with
369,795 ounces of inferred gold, which in total offers potential of greater
than 1,000,000 ounces that is owned by the Company’s wholly owned subsidiary,
Terra Gold Corporation (“TGC”). The WestMountain property consists of 344
Alaska state mining claims covering 223 square kilometers. All government
permits and reclamation plans for continued exploration through 2014 were
renewed in 2010. TGC is a joint venture partner of Corvus Gold, Inc.
(“Corvus”) on this project, although WestMountain recently signed a letter of
intent to acquire Corvus’ remaining interest for $6.0 million in cash and
750,000 shares of common stock – a transaction that would give WestMountain
100% ownership of the project. Additional details are available at
Safe Harbor Statement Some statements contained in this news release are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and, therefore, involve uncertainties or risks that could
cause actual results to differ materially. These statements may contain words
such as "desires," "believes," "anticipates," "plans," "expects," "intends,"
"estimates" or similar expressions. These statements are not guarantees of the
Company's future performance and are subject to risks, uncertainties and other
important factors that could cause its actual performance or achievements to
differ materially from those expressed or implied by these forward-looking
statements. Such statements include, but are not limited to, the vast
potential of the Terra Project, increases in tonnes, inferred resources, and
grade; plans for an aggressive 2013 field season with a $4.2 million budget
and a larger bulk sample program; continued exploratory drilling at the Terra
project; and expectations to run milling operations at up to 40 tonnes per
day. Additional information regarding factors that could cause results to
differ materially from management's expectations is found in the Company’s SEC
filings. The Company intends that the forward-looking statements contained
herein be subject to the above-mentioned statutory safe harbors. Investors are
cautioned not to rely on forward-looking statements. The Company disclaims any
obligation to update forward-looking statements.
WestMountain Gold, Inc.
Chief Executive Officer
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