WTM - Warrant Exercise and Property Sale Generate
$874,000
(Vancouver,
May 21, 2008) West Timmins
Mining Inc. (TSX: WTM) announced today that it has received a total of
$729,179 from the exercise of 1,458,357 share purchase warrants. These
warrants were to expire May 19, 2008 and were fully exercised at a price of
$0.50 per warrant.
"The complete
exercise of the recent warrants is a strong show of support from our
institutional and retail shareholders," said Darin Wagner, President
and CEO of West Timmins Mining. "These funds will be used to continue
our aggressive drill campaign on the La Dura discoveries in Mexico and for
further testing of the high-grade Thunder Creek gold discovery in Timmins,
Ontario. "
Following the
warrant exercise WTM has 110,195,077 shares issued and outstanding and
120,830,743 shares fully diluted. Additional details concerning the
Company's share structure and activities are available at www.westtimminsmining.com.
Trout Bay Property
The Company also
reports that it has now completed the previously announced (NR07-41; Dec.
20, 2007) sale of its option interest in the Trout Bay Property in Red
Lake, Ontario to Puget Ventures Inc. (TSXV:PVS). As a result of the sale
the Company has received $145,500 and 285,000 shares of Puget Ventures. The
funds from the warrant exercise and sale of the Trout Bay Property increase
the Company's current cash position to $7.5 million.
About West
Timmins Mining Inc. (www.westtimminsmining.com):
West Timmins is focussed
on the exploration and development of district-scale gold and related base
metal projects in the major gold camps of North America. WTM currently has
six drills testing high grade gold and base metal targets on its West
Timmins and Monta�a de Oro Projects. West Timmins Mining is based in
Vancouver, British Columbia, Canada and trades on the Toronto Stock
Exchange under the symbol WTM.
On behalf of the Board of
West Timmins Mining
Inc.
"Darin W.
Wagner"
Darin W. Wagner, P. Geo.
President and Chief Executive Officer
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For further information please contact:
Darin W. Wagner, President & CEO or
Jordann Nettles, Manager, Investor Relations
West Timmins Mining Inc., Vancouver
Tel: (604) 685-8311 / Toll Free: (866) 685-8311
E-mail: info@westtimminsmining.com
The TSX has not reviewed and does not accept
responsibility for the accuracy or adequacy of this news release, which has
been prepared by management.
For further detail on West Timmins Mining Inc.
please refer to prior disclosure at www.sedar.com.
The securities described in this press release have
not been and will not be registered under the United States Securities Act
of 1933, as amended, or under any U.S. state securities laws, and such
securities may not be offered or sold in the United States absent an
exemption from such registration requirements.
This press release contains forward looking
statements within the meaning of applicable Canadian and U.S. securities
regulation, including statements regarding the future activities of the
Company. Forward looking statements reflect the current beliefs and
expectations of management and are identified by the use of words including
"will", "expected to", "plans",
"planned", "projected" and other similar words. Actual
results may differ significantly. The achievement of the results
expressed in forward looking statements is subject to a number of risks,
including those described in the Company's annual information form as filed
with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned
not to place undue reliance upon forward looking statements.
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