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West African Resources Ltd
Symbol WAF
Shares Issued 483,873,253
Close 2017-01-19 C$ 0.275
Market Cap C$ 133,065,145
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West African receives mining permit for Sanbrado

2017-01-19 17:33 ET - News Release

Mr. Richard Hyde reports

WEST AFRICAN AWARDED MINING PERMIT

The Council of Ministers of the government of Burkina Faso has approved West African Resources Ltd.'s mining permit application for the Sanbrado gold project (formerly known as Tanlouka gold project), Burkina Faso.

Highlights:

  • Approval of mining permit application;
  • Project name changed to Sanbrado gold project;
  • Feasibility study on track for delivery in first quarter 2017;
  • Construction to begin in late 2017;
  • $17-million cash at bank and no debt.

Managing director Richard Hyde commented: "We are delighted to announce the company has now completed the permitting process, and can focus on completing the feasibility study and commencing development of the Sanbrado gold project.

"We thank the government of Burkina Faso and local stakeholders for their support."

West African Resources is pleased to announce the Council of Ministers of the government of Burkina Faso has approved its mining permit application for the Sanbrado gold project. The project name has been changed to better reflect the local community.

The Sanbrado definitive feasibility study is nearing completion and will be reported along with an NI 43-101 technical report in first quarter 2017. Receipt of the mining permit enables development of the Sanbrado project to proceed on schedule. Construction activities are expected to begin in late 2017 following completion of project financing.

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