Williams Creek Gold Limited Releases Q3 Financial Statements and Management's Discussion and Analysis
December 27 2013 - 7:00PM
Marketwired
Williams Creek Gold Limited Releases Q3 Financial Statements and
Management's Discussion and Analysis
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 27, 2013) -
Williams Creek Gold Limited ("Williams Creek," or the "Company")
(TSX-VENTURE:WCX) is pleased to announce the release of its
unaudited Financial Statements as well as its Management's
Discussion and Analysis for the third quarter ended October 31,
2013. These financial statements have been prepared in accordance
with the International Financial Reporting Standards (IFRS).
For the third quarter, the Company is reporting a net loss of
$42,265 compared to a net loss of $506,465 in the prior year's
quarter. The decrease in loss relates to a reduction in operating
expenses, totaling $69,467 for the third quarter of fiscal 2014,
compared to $137,251 during the same period of fiscal 2013. The
Company recorded a net loss of $616,366 for the first nine months
of fiscal 2014, compared to a net loss of $1,083,745 in the prior
year's period. The Company ended the quarter with $407,102 in cash
and cash equivalents, and continues to hold a strong balance sheet
with $7.2 million in assets and $36,289 in liabilities.
The Company incurred $12,441 in exploration expenditures during
the third quarter, and remains focused on completing the evaluation
of its British Columbia properties. "With the current state of the
gold mining industry, we will take an opportunistic view in making
additional strategic investments. We remain confident Williams
Creek is well-positioned to benefit from an upturn in the current
gold environment," stated Chairman and CEO James Wyant.
The unaudited Financial Statements and Management's Discussion
and Analysis (MD&A) are available on the Company's website
(www.williamscreek.ca) under "Company Filings" and will be
available shortly on SEDAR (www.sedar.com).
About Williams Creek
Gold Limited (WCX)
Visit www.WilliamsCreek.ca to learn more about Williams Creek
Gold Limited.
Williams Creek Gold Limited is a Canadian company with the
primary purpose of participating broadly in the natural resource
sector, with an emphasis on the gold subsector, through
exploration, joint ventures or other equity investments, royalty
and finance agreements.
Williams Creek Gold Limited owns twenty-eight Crown Granted
mineral claims known as the Barkerville Project in the immediate
vicinity of Barkerville, BC in the Cariboo mining division. The
Cariboo gold belt and the Barkerville Camp have a long history of
gold production dating back to the 1800s. Historically the
Barkerville Camp has reported gold production of 3.8 million
ounces, including 2.6 million ounces from surface placer and 1.2
million ounces from lode mining. When placer gold production peaked
in the late 1890s, Williams Creek Gold's Black Jack (District Lot
1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and
Wintrip (District Lot 32F) Crown Granted mineral claims were among
the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral
claims 17km west of Barkerville known as the Pine Properties. The
Company has three Crown Granted mineral claims in the Kamloops
Mining Division, two of which are adjacent to New Gold's New Afton
project. Williams Creek Gold Limited also owns the Ahbau Creek,
Chubby Bear and Ahbau Lake claim groups in Central British
Columbia.
Williams Creek Gold is earning a 50% interest through a joint
venture with Tyhee Gold Corp. in the Big Sky Property north of
Yellowknife, NWT.
Additionally, Williams Creek Gold Limited has a net 30% interest
in the ATW diamond property in the MacKenzie Mining District of the
Northwest Territories.
On behalf of the Board of Directors,
James Wyant, Chairman and CEO
Williams Creek Gold Limited
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward-looking statements
including management's assessments of future plans and operations,
and the anticipated timing of meeting the terms of its joint
venture agreement obligations. These statements are based on
current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not
limited to, the risks associated with the mining and exploration
industry (e.g. operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures), and the
uncertainty of the availability of capital. The assumptions used in
the preparation of such statements, although considered reasonable
at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking
statements.
Williams Creek Gold LimitedJames WyantChairman and
CEO514.983.6194www.williamscreek.ca