Mr. Steve Vanry reports

WEST CIRQUE SIGNS EARN-IN AGREEMENT WITH FREEPORT-MCMORAN OF CANADA LIMITED

Freeport-McMoRan Corp. of Canada Ltd., a wholly owned, indirect subsidiary of Freeport-McMoRan Copper & Gold Inc., has entered into an agreement to explore West Cirque Resources Ltd.'s Castle, Tanzilla and Pliny properties in northwestern British Columbia. Freeport can earn an initial 51-per-cent interest in the properties by financing cumulative expenditures of $8-million over a four-year period.

Steve Vanry, president and chief executive officer of West Cirque, commented: "West Cirque is pleased to join with Freeport in advancing these exciting porphyry projects. Both companies look forward to working together to explore for potential at Castle, Tanzilla and Pliny. This agreement is consistent with West Cirque's goal of attracting the resources required to successfully explore and develop large-scale porphyry Cu-Au [copper-gold] projects."

West Cirque holds a 100-per-cent interest in the Tanzilla and Pliny properties, jointly comprising 8,032 hectares, as well as a 100-per-cent interest in 431 hectares at Castle in addition to 603 hectares under option from Bearclaw Capital Corp. The three properties are located in Northern Stikine terrane within 10 kilometres of Highway 37. A number of important porphyry copper-gold deposits are located in the region, including the Red Chris deposit under development by Imperial Metals. Previous work by West Cirque in 2011-2012, including geological mapping, rock sampling, and ground magnetic and induced polarization surveys, has outlined highly prospective porphyry copper-gold targets on all three properties. Phase I diamond drilling at Castle in 2011 intersected significant gold and copper mineralization over a strike length of 1,000 metres, open in all directions.

Subsequent to completion of a due diligence period, Freeport may achieve first-tier earn-in by fulfilling the following terms:

• Within 18 months, finance $1.5-million of mandatory expenditures, including minimum expenditures of $900,000 on the Castle property, $250,000 on the Tanzilla property and $200,000 on the Pliny property;
• Within 30 months, finance or make cumulative expenditures of $4-million on the properties;
• Within 48 months, finance or make cumulative expenditures of $8-million.
• West Cirque will be the operator during the first-tier earn-in period, unless Freeport elects to become operator after completion of the mandatory expenditures.

Upon Freeport achieving first-tier earn-in, the parties will form a 51-per-cent/49-per-cent joint venture (JV) to hold and operate the properties. West Cirque will initially have the option to proportionally finance the JV and maintain its 49-per-cent interest. If West Cirque notifies Freeport to the contrary, then Freeport may solely finance the JV through preparation and delivery of a feasibility study, which if satisfied will earn Freeport an additional 26.5-per-cent interest, for an aggregate 77.5-per-cent interest. If Freeport chooses not to solely finance, then each of the parties may proportionately finance or dilute. Should Freeport or West Cirque's interest be diluted to less than 10 per cent, then that interest will convert to a 2.0-per-cent net smelter returns royalty interest, of which 1.0 per cent may be purchased by the royalty payor for $2-million.

We seek Safe Harbor.