West Timmins Mining Receives $2,217,547 From Early Exercise of
Warrants
(Vancouver, July 23,
2007) West Timmins Mining Inc. (TSX:
WTM) announced today that it has received a total of $2,217,547 and has
issued a total of 4,435,094 common shares as a result of the early exercise
of share purchase warrants. These warrants were granted in conjunction with
a financing completed by the Company's predecessor Sydney Resource
Corporation in May, 2006 (see Sydney NR 06-13, May 5, 2006) and were set to
expire May 19, 2008.
"The early exercise of the
warrants demonstrates the strong support the Company has from our
institutional shareholders." said Darin Wagner, President and CEO of
West Timmins Mining. "Combined with funds to be collected from the
anticipated completion of the $13,000,000 private placement announced July
19th, the Company will have a solid working capital position. This
will allow us to significantly expand the drill programs currently
underway, including ongoing testing of the La Dura polymetallic discoveries
on our Monta�a de Oro Project in Mexico".
Including the issuances for
warrant exercises described above, West Timmins currently has 96,736,386
shares outstanding.
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About West Timmins Mining Inc. - (www.westtimminsmining.com) West Timmins Mining Inc. is focused on exploring and developing
district scale gold and related base metal projects in North America. West
Timmins Mining is the largest land holder in the West Timmins district,
adjacent to the 70 million ounce Timmins Gold Camp in Ontario, Canada. The Company is currently in the
midst of a 10,000 metre diamond drilling program on its West Timmins Gold
Project. West Timmins Mining Inc. is also active in the Sierra Madre gold
belt in Mexico, home to the Company's Monta�a de Oro and Yoquivo projects.
Drill testing is on-going on the Monta�a de Oro project, which hosts the La
Dura polymetallic discoveries. West Timmins 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
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
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 under 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,
"anticipated" and other similar words. The achievement of the
results, successful completion of the previously announced financing and
plans for the funds to be raised through said offering are forward looking
statements and are 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. Actual results may differ.
Investors are cautioned not to place undue reliance upon forward
looking statements.
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