Williams Creek Gold Limited

Williams Creek Gold Limited

July 22, 2011 08:00 ET

Williams Creek Gold Limited Reports on Annual General Meeting and Announces Phase II Exploration Program on its Barkerville Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2011) - Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek" or "the Company") is pleased to report on its Annual General Meeting held on July 14, 2011 in Vancouver. The matters brought before shareholders were approval of the Company's Stock Option Plan, setting of the Board of Directors, and selection of the Company's auditors for the coming fiscal year. 49,493,190 out of 109,057,249 shares outstanding were voted, and support for management was unanimous.

The recommended Board of Directors slate consisting of Michael Sonnenreich, James Tutton, James Wyant, Brian Mitchell and Clark Lindley was unanimously elected. Smythe Ratcliffe, Chartered Accountants were appointed auditors. The Company's Stock Option Plan was approved.

Shareholders also received an update on Williams Creek's exploration activities from John F. Childs, Consulting Geologist to Williams Creek, and Fran MacPherson, the Company's Director of Barkerville Operations, who reported on the preliminary results from Phase I of the exploration program being conducted on the Company's Barkerville property.

Subsequent to the Annual General Meeting, the Board of Directors met and re-appointed James W.F. Tutton as Chief Financial Officer of the Company and Michael Sonnenreich as Chairman of the Board of Directors and Chief Executive Officer.

The Board of Directors also approved a second phase in Williams Creek's ongoing exploration in Barkerville. The Phase II program will consist in diamond drilling, a trenching program, and other surveying. It will follow up on the most promising results from Phase I, which is due to be completed this summer. The Phase II program is set to begin in the Autumn of 2011.

"I am highly encouraged by the strong shareholder turn-out at Williams Creek's Annual General Meeting," said Michael Sonnenreich, Chairman and CEO of Williams Creek. "I am pleased that shareholders approved the recommended board slate, and on behalf of the re-elected board, I hope and expect that we will continue to deliver on the Company's strategy of exploration, joint venture and investment, and royalty and financing agreements."

About Williams Creek Gold Limited (WCX)

Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.

Williams Creek Gold 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, royalty and finance agreements.

Williams Creek Gold Limited owns twenty-eight Crown Granted mineral claims in the immediate vicinity of Barkerville, BC in the Cariboo mining division. The Cariboo gold belt and the Barkerville Camp have a long history of gold production dating back to the 1800s. Historically the Barkerville Camp has reported gold production of 3.8 million ounces, including 2.6 million ounces from surface placer and 1.2 million ounces from lode mining. When placer gold production peaked in the late 1890s, Williams Creek Gold's Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and Wintrip (District Lot 32F) Crown Granted mineral claims were among the first acquired in the early search for lode gold.

Williams Creek Gold Limited also owns a block of four mineral claims 17km west of Barkerville known as the Pine Properties. The Company has three Crown Granted mineral claims in the Kamloops Mining Division, two of which are adjacent to New Gold's New Afton project. Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.

On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward- looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.

Neither the 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 Gold Limited
    Michael R. Sonnenreich
    Chairman and CEO
    (778) 370-1393
    (604) 688-1320 (FAX)