ENP Newswire -
Release date- 01052014 -
A summary of key financial and operating results are as follows:
Overview of activities
Wescan continues to explore its portfolio of gold properties in the La Ronge Gold Belt in northern
During 2013 the Company also performed a drill program to further evaluate the Jasper property. This drill program focused on infill/confirmation drilling and was designed to investigate and confirm an area of significant mineralization adjacent to the old mine workings based on historical drilling results.
Results of Operations
For the year ended
The loss during 2012 was primarily due to the impairment of certain previously capitalized exploration and evaluation assets (
The Company has focused exploration efforts on its northern
Management will also continue to evaluate the potential for the acquisition of other mineral properties that fit the Company's strategic direction. The Company will be required to raise additional funds to meet its current commitments as well as for ongoing working capital requirements. There is no assurance that the Company will be successful in obtaining required financing when needed or at all.
Caution Regarding Forward-looking Information
This press release contains forward-looking statements within the meaning of certain securities laws, including the 'safe harbour' provisions of
The words 'may,' 'could,' 'should,' 'would,' 'suspect,' 'outlook,' 'believe,' 'plan,' 'anticipate,' 'estimate,' 'expect,' 'intend,' and words and expressions of similar import are intended to identify forward-looking statements, and, in particular, statements regarding Wescan's future operations, future exploration and development activities or other development plans contain forward-looking statements.
Forward-looking statements in this MD&A include, but are not limited to, the ability to raise funds to meet commitments and pursue exploration activities, the use of such funds, future plans for the Jojay,
These forward-looking statements are based on Wescan's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific.
Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, developments in world coal and gold markets, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Wescan, the effects of competition in the markets in which Wescan operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings and operational risks and the additional risks described in Wescan's most recently filed annual and interim MD&A, news releases and technical reports.
Wescan's anticipation of and success in managing the foregoing risks could cause actual results to differ materially from what is anticipated in such forward-looking statements. Although management considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to it, those assumptions may prove to be incorrect.
When making decisions with respect to Wescan, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events. Unless required by applicable securities law, Wescan does not undertake to update any forward-looking statement that may be made.
Tel: (306) 664-2422
Fax: (306) 664-7181
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