Westminster Resources Ltd.

Westminster Resources Ltd.

April 09, 2009 15:19 ET

Westminster Announces Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2009) - Westminster Resources Ltd. (the "Company") (TSX VENTURE:WMR) announces a non-brokered private placement of up to 3,000,000 units at $0.25 per unit to raise gross proceeds of up to $750,000 (the "Offering"). Each unit will be comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at $0.30 per share with an expiry date of two years from the closing of the private placement; provided however that should the closing price of the Company's share price on the TSX-V be at least $0.75 per share for 20 consecutive trading days, the Company may, by notice to the warrant holders, reduce the remaining exercise period for the warrants to 30 calendar days from the date of the notice. A finders' fee commensurate with TSX.V policies will be paid where applicable.

The funds raised will be used to conduct an exploration program on the Company's recently acquired Navojoa Project in Sonora, Mexico and for general working capital.

The Navojoa Property's first ever drill program will start in May, 2009 targeting outcropping gold-copper skarn bodies and also an area where an Induced Polarization (IP) geophysical survey chargeability anomaly has been interpreted as a response to elevated levels of sulphide mineralization. The anomalous IP response underlies rusty, leached, iron oxide capping outcrop and includes a presumed supergene enriched blanket (possibly chalcocite) preserved under flat lying young Tertiary volcanic cover adjacent to the exposed leached areas. This 2.5 kilometer by 1.5 kilometer long modeled chargeability IP anomaly is associated with the central porphyry system and is open in all directions.



Glen C. Macdonald

This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

  • Westminster Resources Ltd.
    Greg Agar
    (604) 608-0400 or Toll Free: 1-877-608-0007
    Westminster Resources Ltd.
    Leif Smither
    (604) 608-0400 or Toll Free: 1-877-608-0007
    (604) 602-9330 (FAX)
    Website: www.westminsterres.com