Mr. Cameron Switzer reports

WCB RESOURCES PROVIDES UPDATE ON DIAMOND DRILLING AT MISIMA PORPHYRY COPPER PROSPECT, PNG

WCB Resources Ltd. has provided an update on the recently commenced diamond drilling at the Misima porphyry copper prospect, where it is testing a potential Tier 1 copper-gold porphyry target.

Key points:

• First scout diamond hole completed to depth of 723.3 metres;
• Initial assays demonstrate broad zone of anomalous copper over 188 metres;
• Observed alteration and first initial assays suggest the hole was drilled down the shoulder or pyrite halo of the porphyry system; second hole now in progress.

An initial program of up to 4,000 metres of reconnaissance scout diamond drilling commenced in mid-September, targeting deep strong magnetic features beneath an extensive one-square-kilometre copper soil anomaly at the Misima porphyry prospect, which coincides with extensive rock chips, shallow drilling, and skarn mineralization and halo veining at surface.

Drilling has progressed well with anticipated production rates and good recoveries achieved. The first diamond drill hole, GDD001, was completed to a depth of 723.3 metres downhole. Detailed examination and geological observations of the drill core from GDD001 indicate the presence of strong propylitic-style alteration including pyrite, strong fracture density and vein styles typical of the margin of a large porphyry copper-gold system.

WCB is encouraged by these observations, which suggest that the hole was drilled down the shoulder or pyrite halo of the porphyry system at the Misima porphyry prospect, and may represent an important incremental step toward the central porphyry zone at depth.

Assay results have so far been received for the interval from two metres to 190 metres of the hole with analysis indicating that the entire interval averages 572 parts per million (0.05 per cent) copper. These results are similar to the previous 1969 drill testing completed by Noranda.

Individual peak copper results correspond to peak molybdenum and silver results.

These results provide a vector to the southwest of this hole, suggesting that the target central porphyry zone may lie in this area. This gives the company confidence that the second diamond hole, GDD002, has been correctly located to test this target central porphyry zone, where stronger copper mineralization could be expected.

Cameron Switzer, WCB's president and chief executive officer, said: "We have made an encouraging start to this drill program at Misima, with the first deep hole targeting the highest-order magnetic anomaly and coincident strong supporting geochemistry already completed. The first hole, GDD001, has intersected a broad zone of anomalous copper with some elevated copper values with supporting strong alteration and fracturing, typical of what we might expect to encounter on the shoulder or fringes of a large copper-gold porphyry system.

"We are encouraged by what we have seen so far in this hole, as it demonstrates the significance of this system. This first hole provides an important geological vector suggesting that the location of GDD002 is an appropriate step-out to intersect the potential porphyry mineralization. We look forward to seeing the results of this and subsequent scout drill holes at the Misima porphyry prospect."

Drill hole GDD001 was the first component of a scout drill program comprising up to 4,000 metres. Drill hole GDD002 will be drilled at a negative-60-degree angle toward the southwest, which will test the extensions of the surface channel results previously reported, including 47 metres at 0.31 per cent copper and 0.13 gram per tonne gold, 53 metres at 0.47 per cent copper, and 171 metres at 0.36 per cent copper and 0.33 gram per tonne gold (see press release dated July 9, 2013). GDD002 will also test combination high- and low-magnetic anomalies.

Quality assurance/quality control

Exploration at the Misima project is supervised by Mr. Switzer, who is the qualified person under NI 43-101, and Ross Logan, exploration manager, who is a qualified person under NI 43-101. All geochemical information for the company's projects are obtained and reported under a quality assurance and quality control program, which includes the usage of standard operating procedures, guidelines including the insertion of certified independent geochemical standards and appropriate collection of field duplicates where appropriate.

Samples are collected under the supervision of company geologists in accordance with standard industry practice. Samples are dispatched via commercial transport to ALS Minerals Ltd. in Brisbane, an accredited independent laboratory in Australia for analysis. Results are routinely examined by a suitably qualified geologist to ensure laboratory performance meets required standards.

Sample locations and drill collars are recorded by GPS devices, and reported in GDA94 projection zone 56.

Samples are assayed by ALS Minerals Brisbane for 33 elements using method ME-ICP61, and for gold by method Au-AA25. ME-ICP61 is a near-total digestion using four acid and ICP-AES. Au-AA25 is used to detect ore grade levels from 0.01 gram per tonne to 100 grams per tonne gold on a nominal 30-gram sample using fire assay with AAS. Copper values over 10,000 parts per million are reanalyzed by method Cu-OG62, ore-grade copper, with a four-acid digestion.

                       DRILL HOLE DETAILS

Hole ID      From (m)     To (m)     Interval (m)               Cu

GDD001             2        190              188           574 ppm
                 190      723.3            533.3    Assays pending

(1) All individual sample intervals are two metres.

About the Misima porphyry prospect

Originally identified in the mid-1960s through a regional stream sediment sampling program, early drill testing in 1969 defined a modest 0.1 per cent to 0.2 per cent copper porphyry at surface. Interpretation at the time suggested that higher-grade mineralization could be located at depth. The exploration focus subsequently shifted to the large area of gold mineralization on the western side of the porphyry. Exploration drilling then defined the Umuna gold resource, from which an estimated four million ounces of gold and 20 million ounces of silver were recovered up until its closure by Misima Mines in 2004.

Regional exploration commenced in late 2011, which accurately defined a high-order copper-gold soil anomaly extending over an area of 1,000 metres by 900 metres over the area of outcropping porphyry mineralization. Mapping and channel sampling further refined the outcropping porphyry alteration and mineralization, enabling a higher degree of understanding with respect to the erosive level of the system. These data suggest the current exposure is in the outer or peripheral zone. Magnetic survey data aided in the proposed drill targeting.

WCB subsequently acquired the extensive Misima Mines database in late 2012, which included over 20 years of exploration drilling, development activity and mining data. Acquisition of the Misima Mines database enabled the definition of the system with numerous halo-style drill holes and broad areas of modest copper in the blast hole data associated with material mined from the Umuna gold resource. These data suggest the current outcrop exposure level is in the outer or peripheral zone of a porphyry copper-gold system.

Synopsis of these data suggest that WCB has defined a zone with a footprint of more than one million tonnes per vertical metre with an average grade of 0.37 gram per tonne gold, 866 parts per million copper and 3.1 grams per tonne gold (based on all data including Misima Mines' channel sampling and blast holes, as well as WCB's channel sampling).

Importantly, higher economic copper and gold grades are returned when magnetite alteration is observed. Magnetic data suggest that the large, high-order magnetic anomaly does not reach surface and has not been previously drill tested. This is further supported by previous exploration drill holes which returned halo-style intersections over an area of 1,500 metres by 1,000 metres. Halo drill holes have been critical in several recent significant discoveries.

About EL1747 Misima

Giant copper-gold deposits such as Grasberg, Ok Tedi, Panguna and Wafi-Golpu, as well as the giant gold deposit Lihir are developed in this region. Misima Island is located on the extensions of this terrain, and has previously demonstrated mineral deposit pedigree through the past production of four million ounces of gold and 20 million ounces of silver from various operations, but most recently the Misima mine owned by Placer Dome Asia Pacific. This mine ceased open-pit production in 2001 and closed in 2004. WCB released an NI 43-101-compliant inferred resource containing 1.57 million ounces gold and eight million ounces silver associated with extensions of the previously mined zone.

EL1747 Misima consists of 53 subblocks covering an area of 180 square kilometres. The exploration licence was targeted due to the presence of a significant gold-mineralizing system in conjunction with significant high-order copper stream sediment anomalies in multiple drainages, which had received limited detailed systematic follow-up.

WCB can earn up to a 70-per-cent interest in EL1747 Misima from Pan Pacific Copper (through its subsidiary, Gallipoli Exploration (PNG) Ltd.) by spending a total of $9-million (Australian) within a staged time frame, subject to standard regulatory approvals. WCB has obtained an initial 30-per-cent equity interest in Gallipoli Exploration and is well progressed toward an additional 19-per-cent interest.

Qualified person

Mr. Switzer, BSc (honours), MAIG (3384), MAUSIMM (112798), is a qualified person as defined by National Instrument 43-101. He is responsible for quality control of exploration undertaken by WCB. Mr. Switzer has reviewed and approved the technical information in this release.

We seek Safe Harbor.