West Timmins Mining Inc.

West Timmins Mining Inc.

November 26, 2007 08:00 ET

WTM Announces Funding Partner for La Bufa Copper-Gold-Silver Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - West Timmins Mining Inc. (TSX:WTM), on behalf of its wholly owned Mexican subsidiary Minera Golondrina S. de R.L. de C.V., announced today that it has signed a Letter Agreement with Trelawney Resources Inc. (TSX VENTURE:TRR) granting Trelawney the option to earn a 50% interest in the La Bufa Copper-Gold-Silver Project located in Chihuahua, Mexico.

Under the terms of the Agreement, Trelawney may earn a 50% interest in WTM's La Bufa Project by funding US$1,000,000 in exploration over 5 years, making cash payments totalling CAD$310,000 over 4 years, and issuing 1,500,000 common shares to West Timmins over 3 years, subject to regulatory approval. Cash and share payments of CAD$110,000 and 500,000 common shares and exploration funding of US$200,000 are firm commitments on behalf of Trelawney during the first 12 months of the Agreement. West Timmins will continue to be the operator of the La Bufa Project.

"We are pleased to have a funding partner in place at La Bufa," said Darin Wagner, President and CEO of West Timmins Mining Inc. "This agreement will allow us to continue moving the La Bufa project forward while concentrating our own resources on our new discoveries at Montana de Oro in Mexico and in the West Timmins District of Ontario."

The La Bufa Project hosts the former producing Carmen Mine which produced approximately 1 mT of copper and gold ore at average grades of 2.50% copper, 2.80 g/t silver and 2.90 g/t gold between 1947 and 1958. The Carmen vein system was mined over widths of 2 to 6 metres for 800 metres along strike. Recent sampling by WTM has confirmed the presence of anomalous gold mineralization (0.40 to 18.70 g/t gold) in the hanging wall to the Carmen structure which was not systematically recovered by the previous operators. West Timmins recently announced the discovery of a high-grade copper-silver vein system on the Project, west of the existing workings, which returned 7.20% copper and 1,470 g/t silver from a grab sample collected during a regional stream sediment sampling program (see NR07-32, October 17, 2007).

The La Bufa Project is located in the Three States Mineral District of south-western Chihuahua State, Mexico which also hosts WTM's Montana de Oro and Lluvia de Oro Projects. The La Bufa Project is road accessible and located 25 kilometres east of Goldcorp's El Sauzal Gold Mine and 75 kilometres east of the Montana de Oro Project.

A committee of independent directors of WTM reviewed and approved the La Bufa transaction as being in the best interest of the Company. Mr. Wayne O'Connor, President and CEO of Trelawney, is the Chairman of West Timmins Mining and abstained from discussions concerning the La Bufa Agreement.

Geochemical results reported herein were previously reported and the reader is referred to WTM's news release of October 17, 2007 (NR07-32) for details on quality control and assurance procedures. Mr. Darin Wagner (M.Sc., P.Geo.), the President and CEO of West Timmins Mining Inc., has acted as non-independent qualified person for this news release. The qualified person has reviewed the historical production records and data from the property and believes them to be accurate and has visited the Project site and independently verified sampling results from the mine area but not the results of the recent stream sediment sampling program.

About West Timmins Mining Inc. (www.westtimminsmining.com):

West Timmins is focussed on the exploration and development of district-scale gold and related base metal projects in the major gold camps of North America. West Timmins Mining currently has five drills testing high grade gold and base metal targets on its West Timmins and Montana de Oro Projects. In Timmins, Ontario drilling continues on the Thunder Creek gold discovery. At Montana de Oro in southern Sonora Mexico the WTM recently announced high-grade polymetallic results from its La Dura West zinc-copper-gold-silver discovery and is continuing an aggressive drill campaign on multiple new discoveries. West Timmins Mining is based in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange under the symbol WTM.

On behalf of the Board of West Timmins Mining Inc.

Darin W. Wagner, P. Geo., President and Chief Executive Officer

For further detail on West Timmins Mining Inc. please refer to prior disclosure at www.SEDAR.com.

The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and such securities may not be offered or sold in the United States absent an exemption from such registration requirements.

This press release contains forward looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward looking statements is subject to a number of risks, including those described in the Company's annual information form as filed with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward looking statements.

The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Contact Information

  • West Timmins Mining Inc.
    Jordann Nettles
    Manager, Investor Relations
    (604) 685-8311 or Toll Free: 1-866-685-8311
    Website: www.westtimminsmining.com