InvestorsHub Logo
Followers 95
Posts 14359
Boards Moderated 17
Alias Born 05/25/2004

Re: None

Monday, 07/20/2009 8:37:05 PM

Monday, July 20, 2009 8:37:05 PM

Post# of 12
Weststar Acquires McKinnon Claims in Yukon

Press Release
Source: Weststar Resources Corp.

On Monday July 20, 2009, 9:00 am EDT

http://finance.yahoo.com/news/Weststar-Acquires-McKinnon-iw-2571645661.html?x=0&.v=1

Weststar Resources Corp. (TSX-V:WER - News) (Frankfurt:HN3 - News) (the "Company") is pleased to announce that it has entered into an agreement to acquire a 100% interest in the McKinnon Property, located in Yukon Territory. The property consists of 66 pending quartz claims encompassing approximately 3,400 acres (1380 ha), located about 60 km northeast of the Underworld Resources Ltd.'s "White Gold" Property, and about 40 km due south of Dawson City, Yukon.

The McKinnon Property encompasses two historic gold occurrences: the McKinnon Prospect (Yukon Minfile 115O-054) and the Fothergill Prospect (Yukon Minfile 115O-054).

Originally staked as the "Britannia" group of claims in 1900, the northerly showing has had significant historic exploration beginning in the early 1900s. This work has included the sinking of several adits and shafts; pitting and trenching; diamond drilling and bulk sampling.

The most significant results include the 1901 shipment of a 1.8 tonne sample, which assayed 3.4 g/t Au, to a Government stamp mill. The original owners of the property reported a number of samples in the range from 3.4 to 10.3 g/t Au.

Within the area, gold mineralization appears spatially related to a Lower Cretaceous conglomerate, which consists of a lower lithic unit and an upper quartzose unit. To date, the known gold mineralization appears restricted to the upper quartzose unit, and is thought to represent a paleo-placer. Extensive silicification and clay alteration also suggest potential for an epithermal origin for the gold mineralization.

The McKinnon Property has been acquired from an arms length party. Acquisition costs are as follows $134,100 and 2,500,000 shares:


-- $84,100 paid on signing of the agreement;
-- $50,000 cash and 2,500,000 shares of the Company due within five days
of TSX Venture Exchange approval of the acquisition;
-- the Vendor will retain a three percent Net Smelter Royalty, of which
one-third (one percent) can be purchased by the Company for $1,000,000.

The acquisition is subject to TSX Venture Exchange approval.

Weststar will mobilize a field crew to the property, as soon as possible, to initiate a prospecting program and a geochemical survey of the claim block; which will be concurrent with the exploration planned for the Golden Fox Property, located near Underworld Resources "Black Fox" Property.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Jody Dahrouge, PGeol, of Dahrouge Geological, a qualified person.

On Behalf of the Board

Mitchell Adam, President
Weststar Resources Corp.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

WARNING: The Company relies on litigation protection for "forward-looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

Contact:
Contact:Weststar Resources Corp.Suite 1128-789 West Pender StreetVancouver, B.C. V6C 1H2Tel: (604) 669-9330Fax: (604) 669-9335Website: www.weststarresources.com

PEAK OIL #board-6609
PEAK OIL+DEPRESSION - SUSTAINABLE LIVING #board-9881
PEAK NATURAL RESOURCES #board-12910
PEAK WATER #board-12656

Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.