Western Troy Capital Resources Inc.

Western Troy Capital Resources Inc.

December 30, 2009 09:00 ET

Western Troy Stakes Claims on Rare Earths Prospect in Strange Lake Area of Quebec, Grants Options

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2009) - Western Troy Capital Resources Inc. (TSX VENTURE:WRY) is pleased to announce that it has made application for 44 claims in the Strange Lake area. Earlier this year, Western Troy staked 11 claims on high zirconium values in stream sediment samples taken by the Quebec Government (Quebec Online Database - see press release http://westerntroy.com/nov20-2009.pdf). Further research by Western Troy revealed that the area was on the margin of a circular magnetic structure similar to the area of Quest Uranium's Strange lake deposit. The new claims are located about 90 km southeast of the Strange Lake deposit.

Figure 1: Magnetic map showing circular magnetic structures and known rare earth mineralization in the Strange Lake Area is available at the following link: http://media3.marketwire.com/docs/wry1230a.jpg.

Figure 2: Geological Map showing circular magnetic structures in relation to the known regional geology in the Strange Lake Area is available at the following link: http://media3.marketwire.com/docs/wry1230b.jpg.

Both the Strange Lake deposit and the Western Troy claims are located on the same geological unit, the Mistastin Batholith (Unit 42 on Figure 2). This granitic intrusive is composed of granite, quartz monzonite and syenite. The Strange Lake deposit has been noted to occur in alkali phases of the Mistastin Batholith. The exact geology of the Western Troy claims is not known at this time past the fact that the claims cover an area that has been mapped as quartz monzonite of the Mistastin Batholith. The circular magnetic structures that coincide with the intrusive contacts of the Mistastin Batholith can be seen to be cutting northwesterly trending geological units. On the east side of the larger circle in Figure 1, the geological units seem to be only partially digested by the intrusive rocks whereas on the west side where the Western Troy claims are located, the geological units seem to have been fully digested by the intrusion.

The claims cover highly anomalous stream sediment samples, some of which are the highest reported in the Province of Quebec Government Database:

Metal   Value Range (ppm)   Values in Quebec Gov't Database
Zirconium   12 to 3,000   3,000 ppm is the highest value
Thorium   5 to 268   268 ppm is the highest value
Niobium   5 to 83   83 ppm is the highest value
Cerium   26 to 765   10 samples are higher
Lanthanum   12 to 291   81 samples are higher
Molybdenum   3 to 54   84 samples are higher
Sm   1 to 41   111 samples are higher
Europium   0.3 to 5.3   192 samples are higher
Phosphorus   381 to 3608   208 samples are higher
Lithium   1 to 42   638 samples are higher
Yttrium   5 to 64   868 samples are higher

The provincial database is an online search engine maintained by the Province of Quebec. It contains records of all samples taken during Quebec and Federal Government funded Geochemical Surveys. There have been in excess of 216,000 stream sediment samples taken in Quebec by the Quebec Government over the years. All of the elements in the above table have been found to be components or indicator elements of the Strange Lake deposit. See Quest Uranium press release:


Wayne Holmstead, vice president exploration of Western Troy commented that the claims cover the highest values of zirconium, thorium and niobium in stream sediment samples in the Province of Quebec including samples taken in the vicinity of the Strange Lake deposit. The high geochemical values combined with the favourable geology and geophysical signature; indicate that the claims staked by Western Troy have the potential to host mineralization of the type found at Quest's Strange Lake deposit.

Rare earth elements are widely used in the fields of electronics, aviation, atomic energy, and manufacturing. They are essential elements to many of the new emerging green technologies such as hybrid and electric vehicles and wind power generation. The United States and Canada rely on Rare Earth Elements for national security and defense systems. Currently, China is the world's primary source for rare earth elements.

Western Troy has granted 400,000 options to its directors and management. These options have been granted pursuant to Western Troy's Stock Option Plan. They will have a term of five years and are exercisable at a price of 40 cents per share. 

About Western Troy: Western Troy Capital Resources Inc. is a mineral exploration company. Its 100% owned MacLeod Lake Project, located about 275 km north of Chibougamau, Quebec, hosts a well defined Main Zone of mineralization as outlined by extensive drilling. In addition, a South Zone resource and several IP anomalies of potential interest have been identified. In April of 2008, Western Troy received an independent Preliminary Assessment (Scoping Study) consistent with National Instrument 43-101 on its MacLeod Lake Property. The report has been filed on SEDAR and is available at www.SEDAR.com and on Western Troy's website, www.WesternTroy.com. Western Troy also has a number of early stage molybdenum, copper, gold, rare earths, uranium, platinum, and other minerals exploration properties in Quebec. The shares of Western Troy trade on the TSX Venture Exchange under the symbol WRY, with 23,284,970 shares outstanding. 

This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to mining and exploration operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates; accident; labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Rex E. Loesby, P.E., is the qualified person that has reviewed the content of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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