VANCOUVER - Wedgemount Resources Corp. (CSE: WDGY) ('Wedgemount' or the 'Company'), is pleased to announce the signing of an option agreement (the 'Agreement') to acquire the Friendly Lake-Deer Lake copper-gold property ('Friendly' or the 'Project') in south-central British Columbia.
Friendly becomes Wedgemount's third copper focused exploration property in one of BC's most prolific copper belts. Under the terms of the Agreement, Wedgemount may acquire up to 100% of Friendly, subject to a 3% net smelter return ('NSR'), 50% of which can be repurchased by the Company.
Mark Vanry, President & CEO of Wedgemount commented, 'Wedgemount is excited to add a third highly prospective copper and gold property in British Columbia. Our project portfolio now gives Wedgemount total exposure to over 35,000 hectares of under-explored copper focused assets within one of B.C.'s most prolific copper belts. Similar to our Eagle and Red properties, the terms outlined in the Friendly Agreement include favorable cash, share and exploration commitments during initial phases of the option. Further, Friendly's location in southern B.C. allows for a longer and lower cost exploration season. Access and logistics for the Project are excellent with a multitude of logging roads, ATV trails and lodges in the area.'
Friendly Lake - Deer Lake Property
The year-round, road accessible, 13,000-hectare Friendly property is approximately 100 kilometers north of Kamloops, a community with a rich mining and development history. Newgold Inc's New Afton copper-gold mine is 100 kilometers to the south of Friendly and Imperial Metals Mount Polly copper-gold mine is 130 kilometers to the northwest. Previous exploration on the Project, dating back to the 1960's, has included geological mapping, extensive soil and rock-chip sampling, trenching, geochemical surveys, ground-based geophysics, however, only limited shallow drilling.
The Project is underlain by arc-related volcanic and volcaniclastic rocks of the Quesnel Terrane (Nicola Group) cut by Triassic-Jurassic intrusions varying from syenite to diorite with associated porphyry and skarn-related copper and gold mineralization. The Project comprises two key target areas; Friendly Lake and Deer Lake.
The BOGG occurrence, central to the Friendly Lake target, comprises local zones of chalcopyrite-bornite cemented magmatic breccias associated with the margins of a northwest-elongated monzodiorite to syenite intrusive complex (Friendly Lake complex). A grab sample from the BOGG occurrence by the B.C. Geological Survey yielded 3.4 % Cu (Schiarizza and Israel, 2001). The BOGG occurrence forms the northwest extent of an approximately 7-kilometer northwest-trending corridor of widespread copper and multi-element soil geochemical anomalies locally coincident with complex IP (induced polarization) chargeability anomalies defined by previous surveys. Based on a preliminary compilation of historic drill data, only six drill holes with depths greater than 200 meters have tested for porphyry-related copper and gold mineralization along this prospective 7-kilometer corridor.
The Deer Lake target comprises numerous magnetite-chalcopyrite skarn occurrences (e.g., Lakeview) associated with the Deer Lake diorite. Historic work has defined multiple poorly tested, multi-element soil and rock geochemical and coincident geophysical anomalies (Gruenwald, 2010) considered high priority areas for detailed investigation.
Wedgemount is currently compiling and interpreting geochemical data from over 20,000 historic soil samples and over 700 rock-chip samples together with historic IP and magnetic geophysical data and historic drill data (shallow reverse circulation and diamond) with the goal of defining new exploration targets and prioritise areas of focus for this upcoming field season. Exploration plans will be released once budgets are set and targets are ranked.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior mineral exploration company focused on maximizing shareholder value through the acquisition, discovery and advancement of high-quality copper - gold projects in North America.
Contact:
Mark Vanry
Tel: (604) 343-4743
Email: info@wedgemountresources.com
Web: www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute 'forward-looking information', including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the Company's plans for exploration of the property and anticipated exploration results. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration programs, successes of the Company's exploration programs, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
WEDGEMOUNT RESOURCES CORP. 
