West Timmins Mining Inc.

West Timmins Mining Inc.

January 23, 2007 08:00 ET

West Timmins Yoquivo Project Yields Average Grades of 1.25 g/t Gold and 72 g/t Silver From Phase 1 Surface Sampling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2007) - West Timmins Mining Inc. (TSX:WTM) and partner Konigsberg Corporation (OTCBB:KGBC) announced today extremely encouraging results from the recently completed Phase 1 surface sampling program on the Yoquivo Gold-Silver Property in Chihuahua State, Mexico. A total of 67 surface grab and chip samples, collected from three mineralized trends on the Project, return average grades of 1.25 g/t gold and 72 g/t silver. Individual sample results ranged from a low of 0.02 g/t gold and 0.3 g/t silver to a high of 9.53 g/t gold and 1,200 g/t silver.

"The Phase 1 surface sampling results from Yoquivo indicate the potential of the Project to host both near surface, bulk mine-able and as well as significantly higher grade, vein/breccia styles of gold-silver mineralization," said Darin Wagner, President, West Timmins Mining. "The gold-silver mineralization at Yoquivo is similar in grade and character to the mineralization at the nearby Ocampo Deposit which reports reserve grades of 1.19 g/t gold and 55.00 g/t silver and which has recently entered production."

The Phase 1 surface sampling program concentrated on the northern portion of the Yoquivo Project area where recent geological mapping has identified a broad zone of sheeted quartz veining and breccia zones in the La Nina (Central-North) area. Twenty eight samples collected over a 700 x 225 metre area in the La Nina (Central-North) area returned average grades of 1.76 g/t Au and 80.35 g/t silver (Table 1).

Vertical zoning is evident within the Yoquivo epithermal system with the just the uppermost levels of the precious metal zone being exposed at the highest topographic levels of the Property (El Dollar - West Trend). A very significant increase in silver and overall precious metal content is observed in exposure of progressively deeper levels of the epithermal system at lower elevations in the Dolores (East Trend) area. A map showing the sample distribution and gold grades can be viewed on the Company's website at www.westtimminsmining.com.

Elevation Gold Silver Gold
Trend (m) (g/t) (g/t) Equ.(i)
El Dollar
(West) 2360-2420 9 samples along 1,100 m 0.55 7.89 0.68
El Gambusino
(Central) 2180-2220 5 samples along 250 m 2.28 4.44 2.35
La Nina
(Central- 28 samples over
North) 2140-2200 area of 700 x 225 m 1.76 80.35 3.10
(East) 2080-2200 9 samples along 550 m 1.84 261.32 6.20
(i) Gold equivalent calculated at 1 g/t gold equals 60 g/t silver based on
recent metal price ratios.

The Companies have also been advised by Aeroquest International Limited that the airborne magnetic and electromagnetic survey of the Yoquivo Property has been completed. Final results of the survey should be received during the next two to three weeks.

Konigsberg may earn an initial 50% interest in the Yoquivo Project by making cash payments of $200,000 U.S., issuing to West Timmins 1,000,000 common shares of Konigsberg, funding $1,000,000 U.S. in exploration expenditures on the property over a 24 month period and making all cash payments required by West Timmins to the underlying property vendor.

Quality Control and Assurance

Geochemical results reported herein are from grab, chip and channel samples collected from the Company's Yoquivo Gold-Silver Project. Samples were sealed on site and transport under the care and control of the staff of Minera Cascabel S.V. de C.A. on behalf of the Company to the preparation facilities of ALS-Chemex in Chihuahua, Mexico. Samples were assayed for gold by standard fire assay-ICP finish with a 30 gram charge. Samples additionally underwent 34 element ICP-MS analysis. Silver assays in excess of 100 g/t were re-analyzed by fire assay. Mr. Darin Wagner (M.Sc., P.Geo), the Company's President, has acted as qualified person for this news release.

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

West Timmins Mining Inc. is focused on exploring and developing district scale gold projects in North America. West Timmins Mining is the largest land holder in the West Timmins district, adjacent to the 70 million ounce Timmins Gold Camp in Ontario, Canada. The Company currently has two drills turning on its West Timmins Gold Project. West Timmins Mining Inc. is also active in the Sierra Madre gold belt in Mexico, home to the Company's Montana de Oro and Yoquivo projects. Drill testing is on-going on the Montana de Oro project and will include initial drill testing of the El Rodeo, Montana de Oro and La Fronteriza mineralized zones. West Timmins 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, 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 under 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", "expected to", "plans" 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.
    Darin W. Wagner
    President & CEO
    (604) 685-8311 or Toll Free: 1-866-685-8311
    Website: www.westtimminsmining.com