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Williams Creek Gold Limited Releases Q1 Financial Statements and Management's Discussion and Analysis

Jun 28 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/28/13 -- Williams Creek Gold Limited ("Williams Creek," or the "Company") (TSX VENTURE: WCX) is pleased to announce the release of its unaudited Financial Statements as well as its Management's Discussion and Analysis for the first quarter ended April 30, 2013. These financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS).

For the first quarter, the Company is reporting a net loss of $1.1 million compared to a net loss of $322,203 in the prior year's quarter. Williams Creek recorded an unrealized loss on investments of $654,507, and incurred $26,997 on its properties. The Company continues to hold a strong balance sheet, with assets totaling $7.4 million compared to $61,344 in liabilities. Moving forward, the Company plans to review its various prospects and upcoming exploration programs.

Chairman and CEO James Wyant commented, "The Board of Williams Creek continues to evaluate opportunities for the Company to add properties which may be accretive to our exploration portfolio. We will look to take advantage of the current mining environment while concurrently looking to identify the best use of our funds for our existing exploration prospects, in order to grow shareholder value."

The unaudited Financial Statements and Management's Discussion and Analysis (MD&A) are available on the Company's website (www.williamscreek.ca) under "Company Filings" and will be available shortly on Sedar (www.sedar.com).

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. Williams Creek Gold Limited also owns the Ahbau Creek, Chubby Bear and Ahbau Lake claim groups in Central British Columbia, as well as the BOPS claims in Nevada.

Williams Creek Gold is earning a 50% interest through a joint venture with Tyhee Gold Corp. in the Big Sky Property north of Yellowknife, NWT.

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.

On behalf of the Board of Directors,

James Wyant, Chairman and CEO

Williams Creek Gold Limited

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of this news release which has been prepared by management. This news release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.



Contacts:
Williams Creek Gold Limited
James Wyant
514.983.6194
www.WilliamsCreek.ca





Source: Marketwire


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