VANCOUVER, March 17, 2014 /CNW/ – Westminster Resources Ltd. (WMR-TSX.V) advises that the 2014 exploration program on the Cumbral-San Bartolo Project, Sonora, Mexico has commenced. The first drill hole was collared onMarch 13, 2014 and core drilling is proceeding.
In accordance with the terms of the existing Option Agreement pertaining to the Cumbral-San Bartolo property, Capstone Mining Corp. will be the 2014 operator of the approximate 10,000 hectare project. The initial focus is the multi-square-kilometer area of the Montoso porphyry system.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
“Glen J. Indra”
Managed by an experienced exploration team, Westminster is focused on exploring and developing prospects on a land package of approximately 53,613 hectares of contiguous mineral concessions in Sonora, Mexico. These concessions constitute a mineral district scale property serviced by roads, power and water. Approximately 10,109 hectares comprise the Cumbral-San Bartolo option project with Capstone Mining Corp. Capstone has secured a 49% interest in the project having spent $3.3 million to date. Capstone Mining Corp. has elected to assume operatorship of the project in January 2014 under the terms of the Option Agreement where they may earn a further 11% interest by expending an additional $3 million by December 31, 2014. Capstone Mining Corp. may earn a further 10% interest by expending an additional $3 million before December 31, 2015, bringing their total expenditures to $9.3 million to earn a 70% interest.
Westminster’s exploration continues in 2014 on its additional 43,000 hectares of mineral concessions where numerous prospective mineralized targets have been identified.
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SOURCE Westminster Resources Ltd.