Worldwide Promotional Management Inc.

Worldwide Promotional Management Inc.

September 27, 2011 08:45 ET

Worldwide to Acquire Multiple Mineral Properties in Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Worldwide Promotional Management Inc. (CNSX:WRL) -

Announcement Highlights:

  • Creates growing presence in vibrant Manitoba mineral sector
  • Gold and copper targeted
  • Company now has a diversified basket of four properties

Worldwide Promotional Management Inc. ("Worldwide") is pleased to announce that it has entered into a purchase and sale agreement for the 100% acquisition (the "Acquisition") of three new mineral properties in Manitoba, Canada.

The agreement, with William Kuran and Mark Albert Olson ("Vendors"), is for the acquisition of three non contiguous mineral properties aggregating approximately 4,608 acres and separately located in central west and southeast Manitoba. The vendors are arms length to the Company. Worldwide will acquire a 100% interest in the properties by paying the Vendors the sum of $30,000 and issuing a collective 1,300,000 common shares in the capital of Worldwide. The Vendors will retain a 2% net smelter returns royalty (the "NSR") from all mineral substances mined or extracted from the Properties and all dore, concentrates and other products derived there from. Worldwide may purchase up to half of the NSR (in the aggregate 1.0% NSR in the Properties) for consideration of $500,000 for each 0.5% of the NSR in the Properties so purchased.

In addition, Worldwide has agreed to issue an aggregate of 145,000 common shares to arm's length parties as finder's fees in connection with the Acquisition.

Closing of the Acquisition is subject to the approval of the Canadian National Stock Exchange (the "CNSX").

Kelsey Gold Project - Drill Ready

The property consists of 10 contiguous claims, covering an area of approximately 1930 ha. It is located approximately 30 km southeast of Flin Flon, Manitoba and 7 km northwest of the town of Cranberry Portage.

The property lies within the Flin Flon – Snow Lake greenstone belt which is comprised primarily of north-east trending, Proterozoic aged mafic to felsic metavolcanics, derived volcanogenic metasediments and intrusive bodies. The belt is well known for hosting numerous large base metal sulphide deposits and lode gold deposits.

Approximately 20 gold and numerous copper occurrences are reported to occur on the property. The majority of the gold occurrences are located within or near major linear structures (quartz carbonate zones) which obtain lengths of multiple kilometres.

The property hosts the past producing Kelsey Gold Mine and the Laura 2 vein.

Kelsey Gold Mine:

High grade quartz carbonate vein with 60 foot shaft and numerous trenches which produced 100 tons @ 0.44 oz/t Au. This vein was traced for 300 m along strike by shallow historic drilling (open at depth and along strike). (Reference 1997 Manitoba Assessment report # 94996).

Laura 2 Vein:

The Laura 2 Vein is part of a laterally extensive, overburden covered, northeast trending ten-metre wide structure which hosts numerous gold occurrences. The Laura 2 Vein has been traced in 16 trenches for up to 300 metres in length and from past reports averaged 0.5 to 1.7 oz/t Au over widths up to 2 metres in channel samples.

Vena Project - Contiguous to Bison Gold / San Gold

The property consists of five contiguous claims totaling approximately 1,122 hectares and is situated northwest of Beresford Lake in the Rice Lake Greenstone Belt of SE Manitoba, approx 2.5 hrs from Winnipeg.

The Bissett Gold Camp has produced over 1.7 million ounces of gold from different past producers, the largest producer being the Rice Lake Gold mine which has been recently put back into operation by San Gold Corporation. The property is within 2 km of 3 past modest scale producing gold mines, and is underlain by the same rock types as these past producing mines. Bison Gold Resources is contiguous to the west of the Vena property with San Gold to the south. In the 1930's, Mandalay Gold Mines carried out mapping, trenching, and diamond drilling on and to the south of the Vena Gold Property. A shear zone up to 20 m in width was encountered in the main gabbro sill and was later named the "Mandalay Shear Zone." A limited amount of drilling was carried out on the "Mandalay Shear Zone" with one hole returning 0.17 oz/t Au over 6.7 metres. This hole was collared approximately 800 metres south and along strike of recently discovered trenches and gold showings located on the Vena Gold Property. The Mandalay Shear Structure is projected to trend for at least 3.5 kilometres through the Vena Claims. Only minor surface work has been carried out on the property since the 1930's.

Wyatt project

The Wyatt property is a large property of 11 contiguous mineral claims (1,556 hectares) located west-southwest of Garner Lake, in the Rice Lake greenstone belt; about eight kilometres south of the Vena Claims. The property is underlain by rocks of the Neoarchean Bidou, Gem and Edmunds assemblages, which host important gold deposits elsewhere in the greenstone belt. A regional-scale, northwest-trending shear zone, up to 100 metres in width, cuts the Neoarchean rocks on the property for a strike length of about five kilometres. Gold-bearing quartz veins occur within this regional-scale shear zone.

The Main zone is a zone of multiple, close-spaced, pyrite-arsenopyrite-bearing quartz veins which are poorly exposed in outcrop on the property, intermittently for a strike length of about 120 metres. The Main zone has an exposed width of up to 20 metres. Its width and on-strike extension both remain open. Individual veins within the zone range up to two metres in width. Limited select sampling has returned values to 5.1 grams per tonne Au from these veins. The Main zone is untested by systematic stripping and sampling, and by diamond drilling. Approximately one kilometre to the northwest along strike from the Main Zone, a second zone of quartz veining ('Wanabe Showing') has returned surface grab samples with gold values to 20.2 g/t. Gold bearing quartz veins are also known along the same shear zone, on strike to the southeast and northwest beyond the Wyatt property boundaries.

Carson Seabolt, Chief Executive Officer, states, "These acquisitions reflect our commitment to Manitoba and creates a focused portfolio that now consists of two drill ready projects individually prospective for Copper and Gold."

Michael Moore, P.Geo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company.

About Worldwide

Worldwide is presently focused on the exploration of the Fox Mine property in Manitoba, Canada. A total of approximately 12 million tons grading 1.82 % copper and 1.78% zinc was produced from the Fox Mine in the years 1970 to 1985. Worldwide is utilizing modern deep penetrating geophysical techniques to target new discoveries at depth and in proximity to the historic mine site.

On behalf of the board of directors


Carson Seabolt, Chief Executive Officer

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the Canadian National Stock Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

The CNSX has neither approved nor disapproved the information contained herein.

Contact Information