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January 31, 2014, Vancouver, B.C., Wellgreen Platinum Ltd. (TSX-V: WG; OTC-QX: WGPLF) “Wellgreen Platinum” or the “Company” is aware of a recent, third party article (the “Article”) written and posted independently on SeekingAlpha.com by Fincom Investment Partners (who are not compensated by Wellgreen Platinum) that contains certain viewpoints and information relating to the Company’s Wellgreen project (including, but not limited to, assumptions relating to internal rates of return, power costs and capital expenditure requirements) which are not supported by the Company’s 2012 technical report entitled “Wellgreen Project Preliminary Economic Assessment, Yukon, Canada”, dated August 1, 2012 (the “2012 Wellgreen PEA”) and prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Company cautions investors that, for technical and economic information regarding its Wellgreen project, they should rely solely on the 2012 Wellgreen PEA and the Company’s public disclosure documents. The “20% below Base Case” metal price scenario that is set out in the 2012 Wellgreen PEA is currently being used by Wellgreen Platinum for its economic assessment of the Wellgreen project, as outlined in the Company’s corporate presentation (click here for a copy of the presentation). The 2012 Wellgreen PEA is available under Wellgreen Platinum’s SEDAR profile at www.sedar.com.
As previously disclosed, Wellgreen Platinum has a number of ongoing work programs for its Wellgreen project that are currently in-progress, including the compilation of drill and assay results from the 2013 field program, the development of an updated geologic and resource model, metallurgical test work and engineering studies. The Company is targeting to complete these work programs, and to release an updated PEA that will supersede the 2012 Wellgreen PEA, by the end of the second quarter of 2014.
About Wellgreen Platinum
Based in Vancouver, Canada, Wellgreen Platinum Ltd. is a platinum group metals focused exploration and development company with advanced Canadian projects in the Yukon Territory, Ontario, and Manitoba. Our 100% owned Wellgreen PGM-Ni-Cu project, located in the Yukon, is one of the world’s largest undeveloped PGM deposits and one of the few significant PGM deposits outside of southern Africa or Russia. Our Shakespeare PGM-Ni-Cu project is a fully-permitted, production-ready brownfield mine located in the well-established Sudbury mining district of Ontario, and our Lynn Lake project is a former operating mine located in Manitoba, Canada.
Our management team has an extensive track record of successful, large-scale project discovery, development, permitting, operations and financing combined with an entrepreneurial approach to sustainability and collaboration with First Nations and communities.
Wellgreen Platinum Contacts:
Manager, Corporate Communications
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