WTM
ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISSEMINATION IN
THE UNITED STATES OR FOR DISTRIBUTION THROUGH U.S. NEWSWIRE SERVICES
(Vancouver,
February 3, 2009) West Timmins Mining Inc.
(TSX: WTM) (the "Company") announced today that, subject to
regulatory acceptance, it has arranged a non-brokered private placement of
up to 240,000 units ("the Units") at a price of $0.50 per Unit for gross proceeds of $120,000 (the
"Offering"). Each Unit will consist of one common share and
one-half of one common share purchase warrant (a "Warrant"). Each
whole Warrant will entitle the holder to subscribe for one additional common
share at a price of $0.65 for a period of 18 months from the date of
closing. No finder's fees are payable with respect to the Offering.
The net proceeds raised
from the Offering will be used for exploration of its mineral properties
and for general working capital purposes. The securities issued in
connection with the Offering will be subject to a four month hold period
from the closing date of the private placement. The private placement is
anticipated to close on or before February 9, 2009.
The securities described herein have not been
and will not be registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold in the United States or to a
U.S. person absent an exemption from the registration requirements of such
Act.
About West Timmins Mining Inc. (www.westtimminsmining.com):
WTM is focussed on the exploration and
development of district-scale gold and related base metal projects in the
major gold camps of North America. The Company is advancing the high-grade
Rusk Gold discovery on its Thunder Creek joint venture in Timmins, Ontario
where it is currently in the midst of a 22,000 metre diamond drill program.
WTM also has active gold exploration projects in Mexico, highlighted by the
Monta�a de Oro Project in Sonora, Mexico and the high-grade Lluvia de Oro
gold-silver Project in Chihuahua, Mexico. West Timmins Mining is based in
Vancouver, British Columbia, Canada and trades on the Toronto Stock
Exchange under the symbol WTM.
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On behalf of the Board of
West Timmins Mining Inc.
"Darin W. Wagner"
Darin W. Wagner
President and Chief Executive Officer
For further information contact:
Darin W. Wagner, President & CEO
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 details on West Timmins Mining
Inc. please refer to prior disclosure at http://www.sedar.com/.
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" 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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