Western Troy Capital Resources Inc.
TSX VENTURE : WRY

Western Troy Capital Resources Inc.

August 11, 2011 09:51 ET

Western Troy Announces Appointment of Melvyn Williams to Its Board of Directors, Grants Options

TORONTO, ONTARIO--(Marketwire - Aug. 11, 2011) - Western Troy Capital Resources (TSX VENTURE:WRY) (Western Troy or the Company) announced today that its Board of Directors has voted to appoint Melvyn Williams to the position of Director of Western Troy. Most recently Mr. Williams was Chief Financial Officer and Senior Vice President, Corporate Development for Brigus Gold Corporation where he supervised the securing of project financing in the amount of over $100 million for Brigus Gold's Black Fox Gold Mine in Ontario. Mr. Williams has over 30 years of experience in the finance and natural resources businesses. His experience includes project financing, equity raises, commodities marketing and hedging, capital evaluations, compliance reporting, risk management, capital and operations cost control, and new business development.

Western Troy's CEO, Rex Loesby, commented, "Mel is an excellent and timely addition to Western Troy's Board of Directors. He has a successful track record in securing project financing for junior mining companies. Western Troy board members W. Steve Vaughan and Charles E. Stott have both worked with Mel for a number of years and have recommended him as a strong addition to our Board of Directors. We expect the final feasibility study for our MacLeod Lake Copper/Molybdenum Project in Quebec to be completed in the first quarter of 2012. This will be followed by project financing efforts for the remainder of 2012 with the goal of bringing the MacLeod Lake Project into production by 2015 and minimizing shareholder dilution. Mel's experience and contacts in the mining project financing arena will be particularly beneficial as we move MacLeod Lake toward production. Western Troy has approximately $3.6 million in cash or about 11 cents per share. Our cash burn rate for overhead is low and we have the resources to complete the feasibility study in the first quarter of 2012 and mine permitting by the end of 2012."

As part of the appointment to the Western Troy board, Mr. Williams has been granted 100,000 options with an exercise price of 18 cents per share and a term of 5 years. These options are subject to the terms of Western Troy's Stock Option Plan.

Forward Looking Statements: Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.

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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