Toronto, Ontario (FSCwire) - West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (FWB: HYK) (OTC: HYLKF) announces that, further to its news releases on December 24, 2015, January 6, 2016, and January 20, 2016 it is providing an update with respect to the management cease trade order issued by the Ontario Securities Commission on January 6, 2016 (the “MCTO”). The Company is required to provide bi-weekly status updates in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults until the MCTO has been revoked or a full cease trade order issued.
The Company is in the process of having an independent NI 43-101 compliant technical report prepared with respect to the 3100 hectare West Red Lake Project. The report has been drafted and is undergoing a review. It is anticipated that the technical report will be finalized during the month of February, 2016.
The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in section 4.3 and 4.4 of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, for so long as it remains in default.
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. To find out more about West Red Lake Gold, please visit our website at http://www.westredlakegold.com or contact: John Kontak, President and acting CFO
Phone: 416-203-9181 Email: jkontak@rlgold.ca
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Certain statements contained in this news release constitute "forward looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/westredlake02032016.pdf
Source:
West Red Lake Gold Mines Inc. (CSE:RLG) http://www.westredlakegold.com/
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