WCB Resources Ltd.
TSX VENTURE : WCB

WCB Resources Ltd.

September 11, 2012 09:00 ET

WCB Resources Announces Highly Significant Magnetic Anomaly Coincident With High Order Cu Au Soil Geochemistry at the Misima Project in Papua New Guinea

Processing of Detailed Magnetic Survey Defines Volumetrically Significant High Order Magnetic Anomaly Coincident With Copper Gold Soil Geochemistry

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2012) - WCB Resources Ltd. ("WCB" or the "Company") (TSX VENTURE:WCB) announces that detailed processing and interpretation of the recently completed heliborne magnetic survey covering EL1747 on Misima Island, PNG has been completed. The most significant result from this survey is the recognition of a large robust high order magnetic anomaly that is coincident with the high order Cu Au soil anomaly that was previously defined. This magnetic anomaly has surface dimensions of 1100m by 900m within which a higher order anomaly is observed with the dimensions of 500m by 250m.

3D magnetic modelling of this feature by Planetary Geophysics, an independent consulting group, further indicates that the majority of this magnetic high is located sub surface. Furthermore the modelled data suggests that the dimensions of the intense magnetic high component increases with depth whilst maintaining continuity.

Michael Sexton, Principal of Planetary Geophysics, describes the anomaly as, "The airborne magnetic survey has mapped a significant magnetic high similar to magnetic features (or highs) associated with a number of well-known copper/gold rich porphyry systems in the south west Pacific."

Cameron Switzer, President and CEO, said, "This magnetic high anomaly now further reinforces the validity, size and scale of the porphyry Cu Au target at Misima. Our initial high order soil geochemical data is now supported by detailed magnetic data which highlight a potential target size comparable with many of the well known porphyry Cu Au deposits in this region. This survey in combination with the other datasets will result in the identification of the highest impact drill targets."

In addition to this significant anomaly, additional magnetic features associated with high order coincident anomalous soil and rock chip geochemistry continue to be evaluated.

About EL1747

From a geological and mineral deposits perspective, EL1747 is located in the same terrain and geological region that includes the deposits of Grasberg, Ok Tedi, Hidden Valley, Wafi-Golpu, Lihir, Simberi and Panguna as well as significant projects such as Tolukuma, Kainantu and Woodlark Island. Importantly Misima Island has previously demonstrated mineral deposit pedigree through the past production of 4.0M ounces of gold and 20M ounces of silver from various operations but most recently the Misima Mine owned by Placer Dome Asia Pacific (now Barrick Gold). This mine ceased open pit production in 2001 and closed in 2004.

EL1747 Misima consists of 53 sub blocks covering an area of 180km2. The exploration license was targeted due to the presence of a significant high order copper stream sediment anomaly in multiple drainages which has received limited detailed follow up activity. Furthermore, additional high order gold and zinc anomalies have been identified and require follow up detailed work.

WCB is expected to earn up to a 70% interest in EL1747 Misima by spending a total of AUD9.0M within a 4 year timeframe.

Further details of this announcement and further technical information regarding Misima Island and EL1747, can be located at www.wcbresources.com/news-releases/.

Mr. Cameron Switzer, BSc (Hons), MAIG (3384), MAUSIMM (112798), President and Chief Executive Officer of WCB Resources, is a qualified person as defined by National Instrument 43-101. He is responsible for quality control of exploration undertaken by WCB. Mr. Switzer has reviewed and approved the technical information in this release.

About WCB Resources

WCB is an aggressive minerals exploration and development company that brings together a strong, interdisciplinary, and proven management team with the ability to take a project from discovery right through to operation.

WCB's strategy is to build shareholder value through acquisition, exploration and development of copper gold projects. This strategy is being developed by a synthesis of WCB's core skills in project evaluation, structured acquisition, exploration and project development and operations, areas where WCB directors and executives have significant experience.

We believe that our capabilities and experience, combined with an efficient corporate structure, provide tremendous potential upside for investors. WCB is engaged in an ongoing search and evaluation of additional copper gold projects in the Asia Pacific region.

On behalf of the Board of Directors

Cameron Switzer, President and Chief Executive Officer

The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

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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