Jul 6 2015
WPC Resources Inc. announces that, as a result of a review by the British Columbia Securities Commission, the Company is clarifying disclosure relating to its previous technical disclosure for the Ulu Gold Property.
The BCSC has placed the Company on the Commission's Issuers in Default List as a result of NI 43-101 compliance issues regarding the resource estimate in the recently filed Ulu technical report.
On April 14, 2015 the Company issued a press release announcing an updated mineral resource estimate for Ulu and on June 1, 2015 the Company filed a technical report titled "Technical Report on the Ulu Gold Property, Nunavut, Canada" dated May 26, 2015 (the "Report"). The mineral resource estimate contained in the Report is unsupported by a compliant technical report, contrary to NI 43-101, and should not be relied on until supported by a new or amended technical report.
To address the deficiencies contained in the Report, the Company is preparing a new technical report to address any non-compliance issues. G. H. Giroux, P.Eng. of Giroux Consulting Inc., Bob Singh, P.Geo. of North Face Software Ltd. and Paul Cowley, P.Geo. of Buena Tierra Developments Ltd., are Qualified Persons as defined in NI 43-101 and have reviewed or supervised the preparation of the technical content in this news release.
Source: http://www.wpcresources.ca/