Agreement Signed; 762,000 Ounce Reserve Nevada Gold Project Advancing

 

VANCOUVER, BC - West Kirkland Mining Inc. reported that a Limited Liability Corporation Agreement governing the Hasbrouck Gold Project, located near Tonopah, Nevada has been executed between the Company and Clover Nevada LLC, a Nevada limited liability company and 100% subsidiary of Waterton Precious Metals Fund II Cayman, LP, who acquired a 25% interest in the Hasbrouck Project in 2015. West Kirkland owns a 75% interest and is the operator of the Hasbrouck Project. The LLC Agreement formally ratifies the relationship between the two owners. Under the terms of the LLC agreement Waterton is required to fund their 25% share of expenditures on the Hasbrouck Project incurred subsequent to September 1, 2016. Waterton has indicated their intention to fund their 25% share of expenditures. However, should Waterton choose not to fund their share of expenditures, their interest will be diluted according to a prescribed formula in the LLC agreement.

The Hasbrouck Gold Project has received all the permits to construct and operate the first phase of the open pit, heap leach gold recovery operation at the Three Hills pit. Work continues on the permitting for the second phase of the project at the larger Hasbrouck pit.

A 2015 Pre-Feasibility Study estimated open pit reserves for the Hasbrouck Project. The mineral resource and reserve estimate was prepared in conformance with NI 43-101 by Mine Development Associates ("MDA"). Proven and Probable reserves (based on 100% of the project) total 45.3 million tons containing 762,000 ounces gold and 10.6 million ounces silver.