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West Kirkland Mining (TSX.V: WKM) is an emerging North American gold exploration and development company with exciting projects in Nevada and Utah. With a proven management team, local technical expertise and strong financial backing, West Kirkland is poised for significant growth.

Hasbrouck and Three Hills Acquisition

On January 27, 2014 West Kirkland signed a binding letter agreement with Allied Nevada Gold Corp. to acquire Allied Nevada’s Hasbrouck and Three Hills properties in southwestern Nevada for consideration of US$20 million on closing with an additional conditional payment of US$10 million in 30 months.  The asset includes 1,671,900 inferred AuEq ounces at Hasbrouck and 133,600 indicated Au ounces at the nearby Three Hills deposit.*  

For further information on the Hasbrouck acquisition please refer to the Company’s January 27, 2014 news release.

Terms of the Transaction

Purchase price: West Kirkland to pay an aggregate of US$20,000,000 for a 75% interest in the properties and an additional US$10,000,000 to acquire the remaining 25% interest in the properties. 

The Purchase Price is to be paid as follows:

  • US$500,000 non-refundable cash payment was paid to Allied Nevada upon execution of the Letter Agreement on January 27, 2014 
  • An additional US$19,500,000 cash payment is due at closing on April 24, 2014, for West Kirkland to earn a 75% interest in the Properties 
  • An additional US$10,000,000 is due to be paid within 30 months after the Initial Payment to acquire the remaining 25% interest in the Properties, or at the discretion of Allied Nevada, the Properties shall be transferred into a joint venture with West Kirkland retaining a 75% interest in the joint venture and Allied Nevada retaining a 25% interest

Long Canyon Assets

West Kirkland holds a dominant land position in the Long Canyon Trend (1,000km2) in Nevada and Utah through earn-ins of up to 60% with Rubicon Minerals and Newmont Mining.  Newmont currently holds just under 8% of West Kirkland’s outstanding shares. In 2010, Newmont purchased Fronteer Gold’s Long Canyon deposit and outlying areas for CAD$2.3 Billion. West Kirkland’s ground lies adjacent to Newmont’s Long Canyon properties.

On August 8, 2013, West Kirkland reached a significant milestone by announcing the results of a revised Resource Estimate and Preliminary Economic Assessment for the company’s TUG deposit in Utah, where West Kirkland has spent sufficient funds to achieve its 60% earn-in requirement with Newmont.

Read the August 1, 2013- TUG Resource Estimate and PEA news release.

We welcome you to West Kirkland Mining's corporate website. Should you have any questions or want to talk, please don't hesitate to contact us.

* Please refer to the Company’s January 27, 2014 news release. Mr. Scott E. Wilson, AIPG Certified Professional Geologist, is WKM’s Independent Qualified Person as defined under NI 43-101. Mr. Wilson has reviewed and verified the data disclosed to be in conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines and in accordance with NI 43-101.

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