Mar. 18, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Western Troy Capital Resources (TSX VENTURE:WRY) (Western Troy or the Company) announced today that the Province of Quebec has announced its Northern Plan Budget that includes full funding ($278 million) for the construction of the all weather Otish Mountain Road (Route 167 from Temiscamie to Stornoway's Renard Diamond Project). The budget document includes a schedule for the project including construction to begin this summer. The road will pass within 70 kilometers of Western Troy's MacLeod Lake Copper/Molybdenum Project. The MacLeod Lake Preliminary Evaluation (Scoping Study), which projected strong economic returns, includes $14 million for construction of a road spur from the Otish Mountain Road to the MacLeod Lake Project.
The Northern Plan Budget totals $1.6 billion and includes other infrastructure projects including $500 million for equity investments in resource projects in Northern Quebec. A full copy of the Northern Plan Budget will be available soon on Western Troy's Website (www.westerntroy.com).
Western Troy's CEO, Rex Loesby, commented, "This is great news for our MacLeod Lake Project. It also is tangible evidence that Quebec, where Western Troy has concentrated its exploration efforts, intends to continue to be one of the world's best jurisdictions for mining investment. Funding of the Otish Mountain Road is a major step in the process that we expect will lead to full development of our MacLeod Lake Project."
About Western Troy: Western Troy's shares trade on the TSX Venture Exchange under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More information on Western Troy can be found on its Website at www.westerntroy.com.
Forward Looking Statements: Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.
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.
Western Troy Capital Resources