Westminster Resources Ltd.
TSX VENTURE : WMR

Westminster Resources Ltd.

May 13, 2009 16:42 ET

Westminster Closes Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 13, 2009) - Westminster Resources Ltd. (the "Company") (TSX VENTURE:WMR) has closed a non-brokered private placement in the amount of $850,000 which is an increase of $100,000 over the amount of $750,000 announced on April 9, 2009. The Company will issue 3,400,000 units with each unit to be comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one additional common share at $0.30 per share until May 13, 2011; provided however that should the closing price of the Company's shares 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. The common shares issued pursuant to the private placement as well as the common shares issued pursuant to the exercise of the share purchase warrants will be legended with a hold period to expire September 14, 2009. Finders' fees totaling $66,437 will be paid from the Company's working capital commensurate with TSX.V policies.

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

ON BEHALF OF THE BOARD OF DIRECTORS

WESTMINSTER RESOURCES LTD.

Glen J. Indra

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/Michael Dake
    604-608-0400 or Toll Free: 1-877-608-0007
    604-602-9330 (FAX)
    www.westminsterres.com