November 1, 2011
LAC LA HACHE, BRITISH COLUMBIA - GWR Resources Inc. (“GWR
” or the “Company
”) (TSX Venture: GWQ) is pleased to announce that it has entered into an agreement dated October 29, 2011 (the “Agreement
”) with Andrew Molnar (the “Vendor
”) to acquire the Vendor’s 100% interest in five mineral claims adjoining the eastern boundary of the Company’s Lac La Hache Property (www.gwrresources.com
), British Columbia (the “Claims
”), subject to a 2% net smelter royalty to be retained by the Vendor (the “NSR
”). The Company will have the right to purchase the NSR for $500,000. Pursuant to the Agreement, the Company will acquire a 100% undivided interest in the Claims (the “Acquisition
”) from the Vendor for cash consideration of $23,000 and the issuance of 40,000 common shares of the Company.
Completion of the Acquisition is subject to TSX Venture Exchange approval.
For further information, please contact:
Responsible officer: Lars Glimhagen, Chief Financial Officer
Company Telephone Number: 250 542 8797The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business of the Company and the proposed Acquisition. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. Except when required by law, the Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.
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