VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) - Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek", "WCX" or the "Company") is pleased to announce the start of its 2012 Phase III exploration program in the Cariboo, British Columbia, Canada.
The Company began the exploration season by commissioning two remote sensing satellite surveys on its 100% owned 6,218 hectare Ahbau Creek and 4,949 hectare Chubby Bear properties. Williams Creek acquired the properties from New Gold Inc in March 2012 (News Release WCX12-03, March 7 2012).
Auracle Geospatial Science Inc. of Qualicum Beach, BC, has been commissioned to conduct the surveys and correlate all previous technical data. The work will use remote sensing including data fusion methodologies, in order to assist in the exploration for mineralization, by producing a high resolution digital surface model (DSM); delineating revealed lineaments and classifying revealed fused spectra. A phased plan of remote sensing analyses has begun with the acquisition of 3 multivariate sets of satellite image data and the collection of applicable archived geoscience data and existing technical information.
Planning is underway for soil sample surveys on the Ahbau Lake and Chubby Bear properties. The Company anticipates a total of 1,000 samples from the Ahbau Lake soil grid and 1,500 samples from the Chubby Bear soil grid. The Ahbau Lake survey area follows up on the occurrence of a "large" rusty gossan (extent unknown) in close proximity to the Spanish Thrust. The Chubby Bear sample area contains kaolinitic and possible albite hydrothermal alteration in an aplitic dyke, near both the Spanish and Eureka Thrusts, and returned anomalous Platinum Group Element (PGE) values in previous work conducted by Richfield Ventures Corp.
Williams Creek has received its exploration permit from the Ministry of Mines for trenching and sampling on the Pine Properties. The anticipated start date is mid-July 2012, once the area is fully clear of snow. The permit also allows for several diamond drilling sites. Drilling will be dependent on the results of the trenching program.
Williams Creek Chairman and CEO, Michael R. Sonnenreich, stated, "We are pleased to get underway with our 2012 programs in the Cariboo. By increasing our projects in the Cariboo, we are diversifying Williams Creek's portfolio of properties and adding shareholder value. Additionally, we are using the two initial remote sensing surveys as test cases in this new type of technology and, dependent on favorable results, may commission further surveys on our other properties."
Mr. Sonnenreich continued, "Once these current activities are well underway, we will be engaging in additional exploration activities on our other Cariboo properties."
The 2012 field season will be conducted under the supervision of Robert E. (Ned) Reid, P.Geo. a "Qualified Person" as defined under National Instrument 43-101. Reid conducted the original prospecting programs for Richfield Ventures Corp.
About Williams Creek Gold Limited (WCX)
Visit 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 28 Crown Granted mineral claims 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 in the Big Sky Property north of Yellowknife, NWT. Its joint venture partner is Tyhee Gold Corp.
Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.
On Behalf of the Board of Directors
Michael R. Sonnenreich, Chairman and CEO
Williams Creek Gold Limited
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.
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.