Western Sierra Resource Corporation Announces Its Acquisition of Mitigation Solutions, LLC and Formal Acceptance of Ten Year Government Mitigation Agreement

Rhea-AI Summary

Western Sierra Resource Corporation (OTC:WSRC) has completed the acquisition of Mitigation Solutions, LLC (MSL), enhancing its capabilities in natural resource management. This stock and cash deal allows WSRC to address water contamination and dam stabilization. MSL's first project, backed by FEMA funding, focuses on the Twitchell Dam and requires 7-10 years for completion. The company will also benefit from MSL's experienced management team, which includes experts in disaster response. Funding and equipment are secured to expedite project initiation.

Positive

• Acquisition of Mitigation Solutions, LLC expands WSRC's operational capacity.
• First Mitigation Agreement with Santa Maria Valley Water Conservation District secured.
• FEMA funding ensures financial backing for Twitchell Dam project.
• Experienced management team from MSL enhances operational expertise.

Negative

• Long project duration of 7-10 years may delay revenue generation.
• Execution risk and potential financial strain from large-scale projects.

STEAMBOAT SPRINGS, CO / ACCESSWIRE / September 20, 2022 / WESTERN SIERRA RESOURCE CORPORATION (OTC:WSRC) announces the Company's acquisition of 100% of the stock and assets of Mitigation Solutions, LLC (MSL) toward achieving one of its natural resource management and development objectives. In a stock and cash transaction, MSL has become a wholly owned subsidiary of WSRC, providing the Company with capacity to mitigate water contamination, dam stabilization, and remediate sedimentation-affected large-scale water supplies for municipalities and Special Districts across the Country.

MSL's first Mitigation Agreement as a WSRC Company was accepted by the Santa Maria Valley Water Conservation District (SMVWCD) Board of Directors and executed Saturday, September 17, 2022. This Mitigation Agreement pertains to Federal Emergency Management Agency ("FEMA") funding, as well as other Federal Agency funding, to which SMVWCD is beneficiary for immediate use at the Twitchell Dam and Reservoir Mitigation Project Site. The project is expected to require 7-10 years to complete and entails emergency removal of ash-contaminated sediments to stabilize Twitchell Dam; restoration of the Twitchell Reservoir to original operational capacities; and mitigation of influent-contaminated sediments, water contamination and deposit of soils from upstream drainages. The Twitchell Dam and Reservoir site is the first of several California locations where these contract services may be performed by MSL. Mitigation Agreement details to follow.

MSL's Principals are joining WSRC's management team, bringing decades of disaster response/relief and restoration experience to the Company to include hurricane damage; flood contaminated waterways; compromised lake, reservoir, and municipal water storage facilities; and water delivery system failure. In this capacity, Global Clean Water, Inc. has also contracted with MSL and WSRC to specifically address remediation of potable water contamination issues.

With LOC funding available to mobilize, and equipment financing in place with which to ramp up production for the first and subsequent phases of the Twitchell Project, the Company can proceed immediately. Pictures, video, and written updates will be made available as project completion objectives are attained.

The Company will be pleased to document the initiation of Phase I of the Twitchell Dam and Reservoir project to the benefit of the Santa Maria Valley Water Conservation District, its residents, and the Company's shareholders.

About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has a 115-year history as gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. WSRC currently owns six precious metal reserves in Arizona. In 2014 the Company broadened its vision to include natural (and renewable) resources with its acquisition of water rights and associated infrastructure assets in Colorado for purposes of irrigating and cultivating industrial hemp; processing hemp for manufacture of various building products; and for construction of affordable homes utilizing hemp-based materials-among other beneficial uses. WSRC's intent is to become a broad-based resource company with high value, income generating assets that include water conservation projects, real estate, agriculture, precious metals, helium, and associated "green" technologies.

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
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@WSRCorp

SOURCE: Western Sierra Resource Corp.

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https://www.accesswire.com/716717/Western-Sierra-Resource-Corporation-Announces-Its-Acquisition-of-Mitigation-Solutions-LLC-and-Formal-Acceptance-of-Ten-Year-Government-Mitigation-Agreement

FAQ

What is the significance of WSRC's acquisition of Mitigation Solutions, LLC?

The acquisition strengthens WSRC's capabilities in water contamination mitigation and dam stabilization, aligning with their natural resource management goals.

What is the Twitchell Dam project and its expected impact for WSRC?

The Twitchell Dam project, supported by FEMA funding, requires 7-10 years to stabilize the dam and restore reservoir capacities, potentially enhancing revenue streams for WSRC.

How will the acquisition affect WSRC's future performance?

The acquisition is expected to contribute to future growth through expanded services and improved operational expertise in environmental mitigation.

When was the Mitigation Agreement for the Twitchell Dam project executed?

The Mitigation Agreement was accepted and executed on September 17, 2022.