Mr. Charles Fipke reports

POSITIVE DRILLING RESULTS EXTEND MINERALISATION AT AL HARIQAH GOLD PROJECT

Cantex Mine Development Corp. has released the results from 11 drill holes targeting extensions to the known gold mineralization and infill drilling at the Al Hariqah gold project, a prospective and potentially large-scale gold project located in Yemen. The work on the project is now being led by WCP Resources Ltd., which has an option to farm into the project from Cantex.

Highlights

Results from recent core drilling have again demonstrated potential for extension of gold mineralization to the south of the previously drilled northern one-kilometre section (of the total four km of target strike).

• Two diamond drill holes have been drilled in this southern extension, and both holes returned encouraging intercepts as follows:
  • 6.22 metres at 4.08 grams per tonne gold from 150.4 m in RDH057A;
  • 3.85 m at 9.79 g/t Au from 70.76 m in RDH063A;
  • 7.25 m at 3.03 g/t Au from 80.55 m in RDH063A;
• Cantex and WCP are encouraged by these results and expect further assay results from the southern extension to be released over the coming months.
• Importantly, hole RDH057A intercepted mineralization in the western quartz mica schist zone, which is over 200 m south of previously intercepted gold in this zone, demonstrating the potential for continuation of the mineralization.
• In addition, results from recent infill drilling in the previously drilled northern one km section (of the total four km of strike) continue to intercept shallow gold mineralisation.
• Nine diamond drill holes (five of which are previously drilled holes that have been reentered and extended) have been drilled in this northern section and returned encouraging intercepts including:
• • 12.7 m at 2.47 g/t Au from 122.32 m in RDH020;
  • 4.82 m at 2.46 g/t Au from 108.05 m in RDH021;
  • 6.32 m at 2.64 g/t Au from 123.82 m in RDH021;
• Further drilling is currently being planned to test two km of the remaining three km of underexplored strike directly to the south of the previously drilled northern section.
• Results from the continuing drilling program, together with the extensive previous drilling, will provide a solid base for an updated geological model for the project, and WCP has indicated that it will look to prepare an initial mineral resource estimate in accordance with the JORC code during 2014.

Introduction

The Al Hariqah gold project is a near-surface gold deposit located 130 km northwest of Sana'a, Yemen. The project is currently 100 per cent owned by Cantex Mine Development, and WCP, which is listed on the Australian Securities Exchange and headquartered in Perth, Australia, has an option to farm in.

The project comprises a granted exploration licence covering an area of approximately 957 square kilometres and is valid until Jan. 16, 2016, with the option for two further four-year extensions (providing 50-per-cent area relinquishments are carried out at the first extension).

WCP has until Feb. 10, 2014, to exercise its option to farm in to the project. Upon exercise and by meeting a series of expenditure commitments, WCP will be able to progressively earn up to a 70-per-cent interest in the project.

Geological setting

The geology at Al Hariqah consists of Proterozoic quartz mica schist bordered to the east by Proterozoic metavolcanics and to the west by Tertiary dikes. The mineralization appears to be dominantly hosted by the quartz mica schist and is commonly associated with arsenopyrite.

Current drilling program

The current drilling program comprises core diamond drilling (DD) utilizing two drill rigs, including a small-scale core rig and slightly larger dual-purpose core/percussion rig.

The key objectives of the current drilling campaign are to test extensions to the gold mineralization south of the previously drilled northern one km section (of the total four km of strike), where only limited drilling has previously been conducted, and to confirm previous results from drilling in the northern one section, where significant previous drilling has encountered significant mineralization.

Further drilling is currently being planned to test two km of the remaining three km of underexplored strike directly to the south of the previously drilled northern section.

Since WCP entered into the option agreement with Cantex to farm in to the project in December, 2011, 26 holes for 3,585 m of drilling have been completed at the project. This announcement includes the assay results from 11 of these drill holes, representing approximately 1,006 m of drilling. Assay results from the remaining 15 drill holes, representing approximately 2,579 m of drilling, are expected to be released in the coming months.

Following the appointment of an in-country exploration manager in April, 2013, WCP has now established a procedure whereby drill core samples (being half of the BQ-diameter core) are crushed and pulverized at a local sample preparation facility operated by the Geological Survey and Mineral Resources Board of Yemen, and then the processed samples are exported for fire assaying in Canada by the ALS Vancouver laboratory. This has improved assay turnaround times.

Current drilling results

The results from 11 DD drill holes from the current drilling program, representing approximately 1,006 m of drilling, are reported herein. Results from the holes are presented in the table.

Two of the drill holes are located in the southern extension section of the previously drilled northern one km section, where only a limited drilling program has been undertaken.

Both of the holes returned encouraging intercepts (quoted as downhole intercepts) including:

• 6.22 m at 4.08 g/t Au from 150.4 m in RDH057A;
• 3.85 m at 9.79 g/t Au from 70.76 m in RDH063A;
• 7.25 m at 3.03 g/t Au from 80.55 m in RDH063A.

The intercept recorded in hole RDH057A is significant in that it is the first hole in the southern extension section that has been drilled into the western quartz mica schist zone. RDH057A returned an encouraging intercept of 6.22 m at 4.08 g/t from 150.4 m downhole. Two hundred twenty m to the north of this hole there is significant mineralization hosted in the western quartz mica schist unit, which suggests further drilling to the west and south of RDH057A is warranted.

The remaining nine drill holes are from the northern one km section where there has already been a significant amount of drilling completed over the last 15 years. Five of these holes are previously drilled holes that have been re-entered and extended.

Select intercepts from these nine holes (quoted as downhole intercepts) include:

• 12.7 m at 2.47 g/t Au from 122.32 m in RDH020;
• 4.82 m at 2.46 g/t Au from 108.05 m in RDH021;
• 6.32 m at 2.64 g/t Au from 123.82 m in RDH021.

                           SUMMARY OF DIAMOND DRILL HOLE INTERSECTIONS

Hole                 Depth             From                 To          Length            Au
                        (m)              (m)                (m)             (m)         (g/t)

RDH020*             150.33           122.32             135.02           12.70          2.47
including                            131.53             132.53             1.0         13.95
RDH021*             150.50           108.05             112.87            4.82          2.46 
                                     123.82             130.14            6.32          2.64
including                            129.44             130.14            0.70         21.40
RDH031*             126.83                          No significant intercept
RDH032              151.24                          No significant intercept
RDH041              115.71                          No significant intercept
RDH054              159.08            68.38              71.92            3.54          1.14
RDH055              150.96                          No significant intercept
RDH056*             159.71           154.39              157.8            3.41          0.98
RDH057A             158.92           143.30             147.21            3.91          1.03 
                                     150.40             156.62            6.22          4.08
RDH061*             150.06                          No significant intercept
RDH063A               93.4            70.76              74.61            3.85          9.79 
                                      80.55               87.8            7.25          3.03

1. Holes with an * postfix are holes that have been drilled in a previous program and have 
been re-entered and extended to the indicated depth.
2. Samples at nominal 1.5 m various intervals.
3. All intercepts calculated using a 0.5 g/t lower cut and no upper cut. 
4. Three m of subgrade material.
5. Intervals are all downhole length.
6. Assaying conducted by ALS in Vancouver using industry-standard 50-gram lead collection 
fire assay with AAS finish.
7. Reference standards, field duplicates and blank samples are routinely inserted; quality 
control samples are routinely monitored.
8. The broad mineralized zone at Al Hariqah dips to grid west at approximately 15 degrees. 
Local variations in mineralization dip occur within the broad mineralized zone.

Previous drilling results

Prior to the current drilling program, 158 holes totalling 19,093 m had been drilled at the project, comprising 4,145 m of reverse circulation (RC) drilling, 10,192 m of percussion rotary air blast (RAB) drilling and 4,756 m of diamond drilling. A selection of the five best historic intercepts include:

• 31.5 m at 2.59 g/t Au from 13.5 m (RAB);
• 43.5 m at 3.45 g/t Au from 31.5 m (RAB);
• 48.0 m at 2.96 g/t Au from 18.0 m (RAB);
• 23.9 m at 7.22 g/t Au from 90.18 m (DD);
• 55.5 m at 3.76 g/t Au from 21.0 m (RAB).

The drilling completed at the project to date has defined a broad zone of gold mineralization which is approximately four km in length, up to 500 m wide and extends to at least 150 metres depth with several deep holes ending in mineralization.

Previously, drilling has concentrated on the northern one km of strike where numerous mineralized intercepts have been returned. The southern three km of strike have only been subjected to sporadic drilling on the eastern side, which did return gold mineralization that warrants follow-up drilling. The deposit is open along strike to the south, across strike and at depth.

Initial mineral resource estimate

There has been no resource estimate prepared for the project to date, however Cantex and WCP believe the project has the potential to host a large-scale gold project.

Results from the continuing drilling program, together with the extensive previous drilling, will provide a solid base for an updated geological model for the project, and WCP has indicated it will look to prepare an initial mineral resource estimate in accordance with the JORC code during 2014.

The technical information and results reported here have been reviewed by Chad Ulansky, PGeol, qualified person under National Instrument 43-101, who is responsible for the technical content of this release.