SOURCE: Willow Creek Enterprises, Inc.

December 21, 2010 06:45 ET

Willow Creek 2010 Year End Review

LAS VEGAS, NV--(Marketwire - December 21, 2010) - Willow Creek Enterprises Inc. (OTCBB: WLOC) ("The Company," "Willow Creek") is pleased to provide a year end review of the Company and its operations. Because the soaring mineral prices have made many older projects once again viable economic enterprises, Willow Creek began in 2010 to look aggressively in the Nevada mining areas for projects that could now be profitably undertaken. We looked for projects that had some success in the past and that were known to have the potential for significant success in the future.

The Company is very pleased and motivated by the progress that it has accomplished in 2010. Willow Creek set a corporate mandate to aggressively pursue property acquisitions and joint ventures of new projects in the resource sector. Our management's experience in the public sector, coupled with its understanding of the benefits that the capital markets can bring to these new ventures, have allowed us to not only emerge in the resource sector, but also to increase shareholder value for years to come.

"What an exciting year 2010 has been! The management at Willow Creek set out to establish itself as a prominent player in the resource sector and move towards being a producing company, and I am confident that we have formed a solid base for success. In 2010 we had numerous success stories:

  • We formed a great management team.
  • We acquired two significant properties in Nevada.
  • Then we immediately assessed the properties and found opportunities to expand them and bring in an even greater opportunity for discovery.
  • Initiating a NI 43-101 on Hercules was also a big milestone for Willow Creek. 
  • We retired a significant amount of stock and we did a good financing that will significantly help our market capitalization," stated Terry Fields, President, Willow Creek. 

Mr. Fields continued: "With the continued surge in mineral prices, Willow Creek is in a great position for 2011. On behalf of the entire Willow Creek Management team, I would like to thank all of our faithful shareholder for their support. Happy Holidays and prepare for a very exciting new year."

MANAGEMENT:
During the past year, Willow Creek took steps to build a management team with the experience and proficiency to transition the company into an operational phase that we expect will enhance long-term shareholder value. This began with the appointment of Mr. Terry Fields as our new CEO. Mr. Fields is a graduate of the University of California in Los Angeles (UCLA), having received his Bachelor of Science Degree in 1965. He attended Loyola University School of Law in Los Angeles where he was Student Body President and earned the Alumni Award and the American Bar Association Silver Key Award for Excellence. He obtained his Doctorate of Law Degree (J.D.) in 1968. 

Willow Creek also added Dr. Larry Eastland to our Board. Dr. Eastland is a businessman with an array of political and professional experience and achievements. He worked as a staff assistant and consultant to Presidents Nixon, Ford, and Reagan. Furthermore, Dr. Eastland has been a noteworthy speaker at major political events, such as the CPAC Convention, where he spoke alongside Virginia Representative Eric Cantor and Steve Moore of the Wall Street Journal. Aside from his political endeavors, Dr. Eastland serves as Chairman of the Board of LEA Capital Advisors, a business advisory firm. Dr. Eastland's business expertise should prove to be invaluable, and we look forward to his guidance as we grow into a more mature company.

During these reviews Willow Creek established a strong relationship with MinQuest Inc., which is a privately held natural resource company that acquires and evaluates mineral properties. The company has emphasized precious and base metal properties that contain a resource or strong indicators of potential resources. MinQuest currently controls and or manages exploration programs on approximately 35 properties throughout North America. A recent success is its management of Klondex Mines Ltd's Fire Creek property in central Nevada. MinQuest discovered and is currently defining high-grade gold veining at Fire Creek, which is a Midas style gold deposit currently containing +1,000,000 ounces of gold and still growing.

From this relationship with MinQuest, Willow Creek was able to secure the rights to two significant properties: Hercules and Dolly Varden.

PROPERTIES:
The Willow Creek Management evaluated and assessed numerous properties as we tried to establish ourselves in the resource sector. 

HERCULES:  comprises of 57 mining claims situated in prestigious Walker Lane Mineral Belt, Nevada, USA. The Hercules property gives Willow Creek (OTCBB: WLOC) access to one of the most prolific mining areas in the world. According to a report made by Global Geological Consultants (GGC)* in 2003, The Hercules prospect has direct analogies to the historic Comstock Lode deposit, which is located less than 10 miles to the north. While the Comstock Lode produced approximately $670,000,000 worth of gold and silver from 1860 to 1880, the Hercules Mine, located on the "Hercules" property, is estimated to have produced 5,000 oz of gold and 20,000 oz of silver during early, turn-of-the-century mining efforts. In more recent years, modern exploration has been conducted on the property by companies such as Pioneer Mining Corporation, Phelps Dodge Corporation, and Horizon Gold. The GGC* report further states that the potential for the discovery of thicker, mineralized veins within the Hercules is very good, and that recommended drill tests could identify a deep-seated mineralized deposit for which the Walker Belt is known. Further support for exploration of the Hercules was given by Joseph Tingley** in an annual compilation of major precious metal deposits in Nevada, where he noted a resource for the Hercules deposit of approximately 260,000 oz of gold and 1,950,000 oz of silver.

On December 7th, 2010, Willow Creek commissioned an updated NI 43-101 Report for the Hercules ("Hercules") property.

DOLLY VARDEN: The Willow Creek management and ead geologists have been very active with the Dolly Varden Project. Over the last month Willow Creek has expanded the property by than 135%! The property now consists of Fifty Two (52) unpatented claims covering approximately 1040 acres (AKA 420 hectares) in Lyon County, Nevada, also in the prestigious Walker Lane Mineral Belt. The property acquired is described as follows by MinQuest Inc. on their website (http://www.minquestinc.com/Properties.aspx)*: "A skarn related gold-copper rich zone with related jasperoidal alteration haloes a basin near Dolly Varden Springs. A mineralized intrusive with significant iron oxide and boxworks forms the northern portion of the claim group. Newmont completed an aeromagnetic survey over the property in 1992. Newmont developed a target based on the geophysical survey, local geology and geochemistry. Newmont defined a pophyry target at less than 500 feet of depth within the basin covered by MinQuest's claim group. The target parameters suggest potential for 100 million tons grading 1% copper and 0.03 opt gold. The target was further reinforced by an IP survey completed by Cominco in 1998. This survey was reinterpreted by Fritz Geophysics. Fritz believes the northern line defines a sulfide rich intrusive with the potential to host mineralization."

Recent prospecting and sampling work on the property will be further announced in the new year.

FINANCE:
During the past year the Company has moved to bring as much shareholder value to the company which was shown in the retirement of One Hundred Million (100,000,000) Shares. By retiring approximately 60% of our total shares, the improvement to the company's capital structure equated to approximately eighty five (85) million dollars off of the company's market capitalization. 

* Summary Report and Exploration Proposal on the Hercules Gold Prospect. Lyon Nevada, published January 24, 2003 by Geoffrey Goodall, P. Geo

** Nevada Bureau of Mines and Geology - Special Publication MI-2005

Please visit the Willow Creek website www.willowcreekenterprisesinc.com for any further information

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. FINRA, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

Contact Information

  • Terry Fields
    President
    Corporate contact: 1-310-961-4927