Western Sierra Resource Corporation Announces Commencement of Mining Projects

Rhea-AI Summary

Western Sierra Resource Corporation (OTC PINK:WSRC) has provided a project update regarding its ongoing efforts at Twitchell Dam and Reservoir in California. The company has initiated funding for its resource projects, particularly the Sage Hen Mine and the Arizona Processing Project. A significant advancement includes a lease agreement for facilities near Wickenburg, Arizona, which will serve as a staging area for equipment necessary for the Arizona Processing Project. This project aims to recover precious metals from various locations in Arizona, allowing for concurrent revenue generation in support of the Sage Hen Mine development. Additionally, the company acquired a 70% stake in Silver State Mining Group, targeting the establishment of a $12 million processing facility at Sage Hen.

Positive

• Initiation of funding for resource projects, including Sage Hen Mine and Arizona Processing Project.
• Lease agreement for facilities near Wickenburg, Arizona for equipment assembly.
• Arizona Processing Project expected to generate revenue while supporting Sage Hen Mine development.
• Acquisition of 70% stake in Silver State Mining Group, enhancing resource development capabilities.

Negative

• None.

STEAMBOAT SPRINGS, CO / ACCESSWIRE / April 18, 2023 / WESTERN SIERRA RESOURCE CORPORATION (OTC PINK:WSRC) provides this weekly project update:

Now that the unanticipated emergency response phase of the revenue-generating, mitigation project at Twitchell Dam and Reservoir in California is well underway, the Company has now positioned itself to begin funding its previously announced resource projects including the Sage Hen Mine and the Arizona Processing Project, referenced in our previous press release on January 31, 2023.

The Company's mining subsidiary, SSMG, has executed a contract to lease facilities near Wickenburg, Arizona as a staging area that will allow it to begin purchasing and assembling equipment in preparation for commencement of its Arizona Processing Project. This new Arizona Processing Project will draw and process material from several locations in Arizona for recovery of precious metals. The addition of this project will allow SSMG to initiate production quickly and enable SSMG to generate revenue concurrent with and in support of the development of the Sage Hen Mine in Nevada.

The Company (in June 2021) acquired a 70% Stake in Silver State Mining Group (SSMG) and its Sage Hen reserve evidencing commercially recoverable Gold (AU), Silver (Ag), Platinum (PT), Palladium (PD), and Rhodium (RH). The Company, in concert with Silver State Mining Group, is currently working to establish a $12 million, 100 ton per day enhanced processing facility for direct development at the Sage Hen site.

About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has a 116-year history as gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. The Company's mission objective has been adapted to grow as a multifaceted, natural resource company with its focus on innovative methodologies for conservation, restoration, preservation, and beneficial use of water, land, agriculture, minerals, and energy.

Forward Looking Statements:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance. or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.

Contact:

Western Sierra Resource Corporation
westernsierraresource.com
ir@westernsierraresource.com

Twitter | Facebook | LinkedIn | Telegram

@WSRCorp

SOURCE: Western Sierra Resource Corp.

View source version on accesswire.com:
https://www.accesswire.com/749808/Western-Sierra-Resource-Corporation-Announces-Commencement-of-Mining-Projects

FAQ

What recent updates were provided by Western Sierra Resource Corporation regarding its projects?

Western Sierra Resource Corporation announced progress on its Twitchell Dam project and the commencement of funding for the Sage Hen Mine and Arizona Processing Project.

What is the significance of the lease agreement near Wickenburg, Arizona for WSRC?

The lease agreement allows WSRC to assemble equipment necessary for its Arizona Processing Project, enhancing operational readiness.

How does the Arizona Processing Project affect WSRC's revenue generation?

The Arizona Processing Project is expected to generate revenue quickly while supporting the development of the Sage Hen Mine.

What percentage stake did WSRC acquire in Silver State Mining Group?

WSRC acquired a 70% stake in Silver State Mining Group to bolster its resource project capabilities.

What is the estimated investment for the processing facility at the Sage Hen site?

The estimated investment for the processing facility at the Sage Hen site is $12 million.