Western Sierra Initiates New Exploration and Releases 2009 Gold Production Update
PRESCOTT, Ariz.--(BUSINESS WIRE)--Western Sierra Mining Corp. (OTC: WSRA) announced today that it will begin an exploration program for both gold and copper on the patented property of the Blue Bell Mine in central Arizona. Additionally, the company today released its complete 2009 Gold Production Update and Cash Flow analysis detailing Western Sierra’s Phase I development plans to commence and enhance gold mining simultaneously on the Gold Basin, Gold River and BlueBell/De Soto properties as one overall mining project.
The Gold Basin and Gold River Mines have in excess of $1 billion in total reserves, and at commercial production levels our Phase I Projected Cash Flow is forecast at approximately $9.1 million per year or roughly $.035 per share for the Gold River and Gold Basin Mines alone, subject to obtaining necessary financing and the successful completion of our business plan.
To receive a full copy of the 2009 Gold Production Update via email please register at http://www.kitco.com/leadgen/companies/westernsierra/ or simply email a request to wsragold@yahoo.com.
Michael Chaffee, CEO and President of Western Sierra Mining, commented, “Data obtained from both the Arizona Department of Mines and from the records of the early operators and mining companies concerning the Blue Bell Mine indicate the presence of significant amounts of copper and surface gold that may well be viable at today’s prices. Historical analysis and geological work at the De Soto Mine, similar in size and structure to the Blue Bell, continues, and the company anticipates providing information to the shareholders and the Board of Directors as it becomes available.”
Western has invested over $800,000 of its own funds to prepare these mines for operations, and over the past six months we have raised funds internally to make the transition from an acquisition and exploration company to a revenue based gold and silver production company.
About Western Sierra Mining Corp.
Western Sierra Mining is an aggressive gold and silver exploration and mining company that has been in the exploration mode for the past four years. Incorporated in Utah in 1907, we have a heritage of over 100 years in gold and silver mining and exploration. The company has over 1100 shareholders with an active and independent seven member Board of Directors featuring a Chairman who is the former CFO for Nabisco Foods, European Division. Focused on the historic mining districts of the Bradshaw mountains of Arizona, with additional areas of interest within Nevada and Mexico, our current projects include the SunGold, Oro Cache, and the Big Chief mining group, all of which have demonstrated high-grade mineralization with previous histories of production. Long-term company goals are to create maximum shareholder value by continuing to build a strong base of properties and advance these projects toward production. For more information on Western Sierra Mining please go to http://www.westernsierramining.com; for comprehensive information on the gold and silver market or to buy and sell precious metals products we recommend that you visit http://www.kitco.com.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Western Sierra Mining Corp., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
