TORONTO, ONTARIO--(Marketwire - Nov. 22, 2007) - Western Troy Capital Resources Inc. (TSX VENTURE:WRY) ("Western Troy") announced that it has received the results of a new resource estimate for its MacLeod Lake molybdenum copper project in Northern Quebec. The new resource estimate includes the assays from the summer of 2007 drilling program. The table below shows the updated resource estimate for the Main and South Zones.
Main Zone Main Zone South Zone Contained Indicated Inferred Indicated Pounds/Oz. --------- --------- ---------- ------------ Tonnes (mm) 24.4 3.8 1.47 Molybdenum 0.076% 0.036% 0.18% 50 Million Copper 0.53% 0.29% 0.72% 333 Million Gold 0.05 g/t 0.03 g/t 0.54 g/t 68,000 Silver 4.0 g/t 3.0 g/t 19 g/t 4.4 Million
Western Troy now has sufficient data to proceed with a meaningful Preliminary Assessment (Scoping Study) of a proposed mining operation at MacLeod Lake. Scott Wilson Roscoe Postle, Inc., a well known and respected mining consulting firm in Toronto, has been commissioned to prepare the Scoping Study. The results are scheduled for release in early March of 2008. An updated 43-101 report will be prepared within 45 days of this release.
Macleod Lake Quality Control
Western Troy has a quality control program in place to ensure best practices in sampling and analysis of drill core. Samples of drill core are sent to the ALS Chemex preparation laboratory in Val d'Or, Quebec for sample prep and analysis for gold following which a pulp sample is sent to the ALS Chemex North Vancouver lab for ore grade analysis for silver, copper and molybdenum. ALS Chemex is an ISO 9001: 2000 registered laboratory with the North Vancouver lab accredited by the Standards Council of Canada to ISO 17025 levels. Company quality control procedures include the analysis of its own blanks, and duplicates, introduced among the batches of samples, in addition to those used by the laboratory for its routine testing. Samples are crushed to greater than 70% passing 10 mesh, and pulverized to greater than 85% passing 200 mesh. A fraction of the pulps is analyzed for gold by fire assay and AAS. Another fraction of the pulps is digested in aqua regia acid and ore grade silver, copper and molybdenum values are determined by AAS.
The geologic evaluations, resource estimates, and opinions presented in this release regarding the MacLeod Lake Project are those of Stewart Winter of Winterbourne Explorations Ltd., Sudbury, Ontario. Mr. Winter is an independent "qualified person" within the meaning of National Instrument 43-101. Mr. Winter supervised the preparation of the data presented here and has reviewed and approved the content of this press release.
Western Troy management has decided to withdraw from participation in the exploration of the Viento Frio prospect in Panama. Western Troy's President, Rex Loesby, commented, "Our exploration efforts in Quebec are rewarded with tax rebates from the Province equal to approximately 48 percent of our spending. So our exploration dollars are greatly extended in Quebec. With the addition of our Holmstead Project announced in August of this year, we needed to let one of our early stage exploration projects go. Because we do not receive rebates on Viento Frio exploration spending, we decided to withdraw from the Panama prospect."
About Western Troy
Western Troy Capital Resources Inc. is a mineral exploration company. It's 100%-owned MacLeod Lake Property hosts a well defined Main Zone of mineralization as outlined by extensive drilling, as well as the South Zone and several IP anomalies of potential interest. In October of 2005, Western Troy received an independent Technical Report consistent with National Instrument 43-101 on its MacLeod Lake Property located about 275 km north of Chibougamau, Quebec. The report has been filed on SEDAR and is available at www.SEDAR.com and on Western Troy's website, www.WesternTroy.com. Western Troy has also entered into an Exploration and Development agreement with Aurum Exploration Inc. of Panama, to earn up to 70 percent of Aurum's interest in the Viento Frio Mineral Exploration Concession, District of Santa Isabel, Colon Province, Panama. The Viento Frio Concession consists of 10,363 hectares (104 square kilometers) of land that is prospective for gold and base metal mineral deposits. The property was explored by Minera Rayrock between 1999 and 2001. Rayrock collected 1,918 soil samples and drilled 24 shallow holes totaling 1710 meters. High silver values in the core and anomalous gold, silver, copper, lead, and zinc values in rock chip and soil samples over a large area indicate the Concession is prospective for a large low-sulfidation epithermal system as well as additional gold/silver deposits. The shares of Western Troy trade on the TSX Venture Exchange under the symbol WRY, with 19,550,970 shares outstanding.
Statements in this release that are forward-looking reflect Western Troy'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 information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Western Troy Capital Resources
Rex E. Loesby, P. E.