Waymar Resources Ltd.
TSX VENTURE : WYM

Waymar Resources Ltd.

June 26, 2012 08:00 ET

Waymar Announces 3rd Milestone Option Payments on Anza Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2012) - Waymar Resources Ltd. ("Waymar" or the "Company") (TSX VENTURE:WYM) is pleased to announce that the Company has made the required option cash payments aggregating US$1,000,000 and issued 1,000,000 common shares to the optionors to continue to work towards fully exercising its option in respect of the Anzá Property, Colombia.

Pursuant to the Anzá Property Option Agreement made effective June 29, 2010, the Company entered into a property option agreement to acquire a 100% legal and beneficial interest in the Anzá property comprised of approximately 6,738 hectares of mineral rights located on the eastern-most margin of Colombia's Western Cordillera, 50km west of Medellín. In order to exercise its option, the Company is required to make cash payments to the optionors aggregating US$3.8 million over a three year period (of which US$1,800,000 has now been paid), issue 3,800,000 common shares to the optionors over a three year period (of which 1,800,000 common shares have now been issued) and make expenditures on the property aggregating US$4 million over a three year period. As part of the agreement, the Company has satisfied its obligation to incur cumulative exploration expenditures amounting to US$2,000,000 (including a minimum of 2,000 meters of drilling) by the end of the second year. The optionors will retain a 2% net smelter return royalty on the property, 50% of which may be purchased by the Company for US$1,000,000.

About Waymar Resources Ltd.

Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anzá project located in the west of the Antioquia Department in the Republic of Colombia. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America. Waymar also has 100% ownership of certain properties surrounding Anzá to cover district potential and is continually seeking opportunities to acquire exploration properties. Waymar trades on the TSX Venture Exchange under the symbol "WYM".

WAYMAR RESOURCES LTD.

Pablo Marcet, President & CEO

There has been insufficient exploration to define a mineral resource at the Anzá property to date, and it is uncertain if further exploration will result in such targets being delineated as a mineral resource.

This press release may contain "forward looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of Waymar made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Waymar to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in Waymar's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Waymar's plans and objectives and may not be appropriate for other purposes. Waymar does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Shares Outstanding: 46,945,170

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.

Contact Information