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Western Alaska Minerals Corp
Symbol WAM
Shares Issued 23,810,804
Close 2023-01-20 C$ 3.16
Recent Sedar Documents

Western Alaska appoints Bolin as geophysical consultant

2023-01-23 15:47 ET - News Release

Mr. Kit Marrs reports

WESTERN ALASKA MINERALS ANNOUNCES EXPANSION OF EXPLORATION AND ADMINISTRATIVE TEAM AND GRANTING OF OPTIONS

The following persons have joined Western Alaska Minerals Corp.'s exploration and administrative teams:

Brock Bolin, principal of Bolin Geophysical Services, will serve as geophysical consultant to the company. Mr. Bolin has over 20 years as a worldwide exploration geophysicist with extensive experience in geophysical inversion modelling, geology interpretation, basin assessment, drill targeting and data processing. Prior to forming Bolin Geophysical, Mr. Bolin spent 17 years with Newmont Mining Corp., first as manager of geophysical operations, Americas, then chief geophysicist operations and lastly as chief geophysicist for global exploration.

and will oversee on-site geological operations. Mr. Newkirk has over 40 years of experience as an exploration geologist with a focus on Alaska, where he has served as consultant on many exploration drilling projects. He previously worked for Phelps Dodge at the Tintic mine, for Cominco American, for Kennecott Greens Creek Mining and for Teck-Cominco as senior exploration geologist at the Pogo mine project.

Jack DiMarchi, principal of Core Geoscience, will manage all aspects of permitting and environmental compliance for the company. Mr. DiMarchi, an Alaska certified professional geologist (CPG), has over 40 years of experience in mining project permitting, project management and as a consulting geologist with a focus on Alaska. Mr. DiMarchi brings to the company a unique combination of exploration management and government regulatory experience with the state of Alaska, where he has managed permits for the Red Dog, Pogo, Fort Knox, Kensington and Greens Creek mine operations. His permitting experience includes work on the access road for the Teck Red Dog mine expansion. His past exploration experience includes working as Pogo mine chief geologist for underground development through construction and commercial production, senior consultant, Ajax molybdenum project, Kitsault, B.C., and project manager for the Niblack volcanogenic massive sulphide project, Alaska.

Joan Marrs, co-founder, officer and director of Western Alaska Copper & Gold (WAC&G), the predecessor company to Western Alaska, has been appointed company vice-president, administration. Ms. Marrs was involved in operations, personnel and as financial controller with WAC&G and she has continued to assist Western Alaska in these areas since its combination with WAC&G. Ms. Marrs will oversee corporate administration, human resources and community relations as well as provide strategic administrative leadership to the company.

Sacha Iley, human resources consultant, will lead the company's expanded human resources effort. Ms. Iley brings to the company extensive human resources experience in Alaskan exploration companies, including working with Novagold, Trilogy Metals and, most recently, Copper Mountain Mining Corp. in British Columbia, Canada.

Grant of options.

The company is also pleased to announce that it has granted options for 1,165,000 common shares at an exercise price of $3.16 for a period of five years of which 850,000 have been granted to directors and senior officers, including an officer conducting investor relations activities for the company. The remaining amount has been granted to employees, advisers and consultants.

About Western Alaska Minerals Corp.

Western Alaska is an Alaska- and Arizona-based company, listed on the TSX Venture Exchange and focused on discovery of high-grade, district-scale ore systems in the historic Illinois Creek mining district located in western Alaska. Western Alaska's 100-per-cent-owned claims cover 73,120 acres (114.25 square miles or 29,591 hectares), roughly 45 kilometres from the Yukon River. The district encompasses at least five deposits containing gold, silver, copper, lead and zinc, and was originally discovered by Anaconda Minerals Co. in the early 1980s. Since 2010, Western Alaska, along with precursor Western Alaska Copper & Gold, has reassembled the Anaconda property package and been engaged in exploring the district.

The company currently has 23,810,804 common shares issued and outstanding and 224,801 proportional shares issued and outstanding. Each proportional share is convertible to 100 common shares at the request of the shareholder and in the discretion of the company. Because of these conversion rights, for market capitalization and financial analysis purposes, the company believes it is appropriate to convert the proportional shares to common shares and add the product of the conversion to the current number of common shares outstanding. When doing so, the sum of the approximate number of common shares (23,810,804) and converted proportional shares (22,480,100) equals 46,290,904 shares.

We seek Safe Harbor.

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