Williams Creek Explorations Limited
TSX VENTURE : WCX

Williams Creek Explorations Limited

December 30, 2010 09:00 ET

Williams Creek Explorations Limited Issues Flow-Through Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 30, 2010) - Williams Creek Explorations Limited ("WCX," "Williams Creek," or the "Company") (TSX VENTURE:WCX) is pleased to announce that it closed on a non-brokered private placement of Units, each Unit consisting of one Flow-Through Share and a warrant to purchase one half of one non-flow-through share (the "Placement"). Gross proceeds from the Placement are $1.03 million dollars (the hold periods under Canadian securities laws and requirements of the TSX Venture Exchange expire April 25, 2011). The Placement closed on Friday, December 24, 2010.

In the course of the Placement, Williams Creek has issued 2,783,783 Flow Through Shares at a price of $0.37 per share and 1,391,890 warrants with an exercise price of $0.75 and a duration of 18 months. Williams Creek has issued an additional 162,161 "finders' warrants," each entitling the purchase of on non-flow-through share at $0.37 per share for 12 months, and paid cash finders' fees of $60,000.

The proceeds of the Placement will be used to fund Canadian Exploration Expenses that Williams Creek intends to accrue in the course of its exploration of its properties near Barkerville, BC and Kamloops, BC.

"Flow-Through Shares offer investors the opportunity to capitalize grassroots exploration in a tax-effective fashion while allowing companies to limit the dilution of their share capital base," said Michael R. Sonnenreich, Chairman and CEO of Williams Creek. "This private placement provides Williams Creek with additional ammunition for exploration as it continues to pursue its three-front strategy of exploring, engaging in equity and joint venture investments, and engaging in debt and royalty agreements."

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

About WCX:

Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Explorations Limited. Williams Creek Explorations Limited is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold subsector, through exploration, joint ventures or other equity investments.

The Company owns twenty-eight crown granted mineral claims in the Cariboo Mining Division, and three crown granted mineral claims in the Kamloops Mining Division, of British Columbia. The Company also has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.

This news release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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

  • Williams Creek Explorations Limited
    Michael Sonnenreich
    514.393.3232
    or
    Williams Creek Explorations Limited
    Dov Zigler
    514.393.3232
    www.WilliamsCreek.ca