Williams Creek Gold Limited

Williams Creek Gold Limited

December 06, 2011 08:00 ET

Williams Creek Gold Limited Reports on Corporate Actions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2011) - Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek," "WCX," or "the Company") is pleased to report on: a) the appointment of Dr. Hans P. Black to the board of directors, and b) the granting of a grand total of 300,000 stock options to the board of directors (50,000 options each).

Appointment of Dr. Hans P. Black to the Board of Directors

Dr. Black is the founder and CEO of Interinvest, a global money management firm which manages accounts for private and institutional clients who are serviced through offices in Boston and Montreal, and its affiliate offices in Bermuda, London and Zurich. He serves on the Board of Directors of development-stage gold company Tyhee Gold Corporation (TSX VENTURE:TDC) as well as the Board of biotech company Amorfix Life Sciences Ltd. (TSX:AMF). He is also Chairman of the Board of Wi2Wi Corporation, a company specializing in wireless communications solutions, and he serves on the Board of organic food company Les Aliments Soyummi Inc. He received a Bachelor of Science from Union College in New York and a Doctorate in Medicine from McGill University. He serves on the Advisory Council of The Paul H. Nitze School of Advanced International Studies of Johns Hopkins University, as well as on the Boards of the McGill Chamber Orchestra, the Montréal Symphony Orchestra, la Fondation Institut de Cardiologie de Montréal, and the Washington National Opera.

"Dr. Black brings a wide array of expertise to the Board of Directors of Williams Creek," said Michael R. Sonnenreich, Chairman and Chief Executive Officer of WCX. "I am pleased to have him join the Company's board of directors, and I expect that his financial knowledge will add considerable value to the Board's oversight and decision-making processes."

Granting of options to directors

Williams Creek has, pursuant to its Stock Option Plan, granted options to purchase common shares in Williams Creek to each member of its board of directors in the amount of 50,000 shares per director. The options contracts will expire on between Nov. 3, 2013 for all directors except for Dr. Black (his options will expire on Nov. 15, 2013) and will have an exercise price of CAD $0.30 per share, Williams Creek's closing price as of the dates on which the options were granted.

On behalf of the Board of Directors,

Michael R. Sonnenreich, Chairman and CEO

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 known as the Barkerville Project 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. Williams Creek also holds the BOPS Project consisting of 32 unpatented lode mining claims in Pershing County, Nevada.

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