WCB Resources Ltd. Gains Access to World Class Gold and Silver Mining Area, Misima Island

WCB Resources Ltd (TSX VENTURE:WCB) -

Summary



--  Special Mining Lease 1 Misima has been surrendered 
--  Historic SML1 area now incorporated into EL1747 
--  Historic gold production within this lease was 4.0M ounces 
--  Historic silver production was in excess of 20M ounces 
--  Exploration activities to commence immediately



As previously announced, WCB Resources Ltd ("WCB" or the "Company") has entered
into an exploration Farm-In Agreement with Pan Pacific Copper ("PPC") covering
EL1747 located on Misima Island, Papua New Guinea. EL 1747 is held by PPC's
wholly owned subsidiary Gallipoli Exploration (PNG) Ltd ("Gallipoli").


Exploration License 1747 encompasses an area of 180 km2. covering the most
prospective regions of Misima Island. Previously, internal to this EL1747, the
historic open pit mining area was covered by Special Mining Lease 1 (SML1) with
an area of 15.48 km2.


Advice from WCB's legal representatives in Port Moresby has now confirmed that
the SML1 area is now amalgamated within EL1747. Furthermore, all rights covered
under the conditions of the exploration licence are now included in the SML1
area.


SML1 has recorded production of 4.0M ounces of gold and 20M ounces of silver
from several open pits. Research indicates that exploration for gold commenced
in 1978 with commercial production achieved in 1989. The mine operated for 15
years within which time key milestones from a WCB perspective included the
cessation of exploration in 1997, submittal of the mine closure plan in 2000 and
the mine closure in 2004. Importantly, the average gold and silver price over
this period of time was under $400 per ounce gold and $7 per ounce silver.


Cameron Switzer, President and CEO said, "Confirming our rights to the historic
open pit area advances tremendously our ability to define the potential of the
Misima Project. The former mine and immediate surroundings are the obvious
starting point for high impact targets, but until today all of our systematic
exploration was conducted outside of the SML1 on the copper and gold potential.
Now we can fully evaluate the upside of the entire system including any
potential residual gold bearing material associated with the geological
structure that hosted the previous mineralisation. With current metal prices up
more than four-fold since the mine's closing, we believe there is considerable
exploration potential."


WCB will now seek to collate any available historic data to gain a better
appreciation of the area. Surface exploration activity including soil and rock
sampling will now incorporate this area.


About the Misima JV and EL1747 

In December 2011, WCB entered into an exploration Farm-In Agreement with Pan
Pacific Copper ("PPC") covering EL1747 located on Misima Island, Papua New
Guinea. Under the terms and conditions of the exploration Farm-In Agreement, WCB
can earn up to a 70% interest in EL1747 Misima by spending a total of AUD9.0M
within a 4 year timeframe.


PPC, owned by JX Nippon Mining and Metals (66%) and Mitsui Mining and Smelting
(34%), is a global mining, smelting, refining and international copper producer.


The Company is targeting Porphyry copper gold and Epithermal gold silver
mineralisation on EL 1747. 


From a geological and mineral deposits perspective, EL 1747 is located in the
same terrain and geological region that includes the deposits of Grasberg, Ok
Tedi, Hidden Valley, Wafi-Golpu, Lihir, Simberi and Panguna as well as
significant projects such as Tolukuma, Kainantu and Woodlark Island. Importantly
Misima Island has previously demonstrated mineral deposit pedigree through the
past production of 4.0M ounces of gold and 20M ounces of silver from various
operations but most recently the Misima Mine owned by Placer Dome Asia Pacific
(now Barrick Gold Corporation). This mine ceased open pit production in 2001 and
closed in 2004.


EL1747 Misima consists of 53 sub blocks covering an area of 180km2. The
exploration license was targeted by WCB due to the presence of a significant
high order copper stream sediment anomaly in multiple drainages which has
received limited detailed follow up activity. Furthermore, additional high order
gold and zinc anomalies have been identified and require follow up detailed
work.


Further details of this announcement or information pertaining to the Misima
Farm In Agreement and further technical information regarding Misima Island and
EL 1747, can be located at www.wcbresources.com/news-releases/.


Mr. Cameron Switzer, BSc (Hons), MAIG (3384), MAUSIMM (112798), President and
Chief Executive Officer of WCB Resources, is a qualified person as defined by
National Instrument 43-101. He is responsible for quality control of exploration
undertaken by WCB. Mr. Switzer has reviewed and approved the technical
information in this release.


About WCB Resources 

WCB is an aggressive minerals exploration and development company that brings
together a strong, interdisciplinary, and proven management team with the
ability to take a project from discovery right through to operation.


WCB's strategy is to build shareholder value through acquisition, exploration
and development of copper gold projects. This strategy is being developed by a
synthesis of WCB's core skills in project evaluation, structured acquisition,
exploration and project development and operations, areas where WCB directors
and executives have significant experience.


We believe that our capabilities and experience, combined with an efficient
corporate structure, provide tremendous potential upside for investors. WCB is
engaged in an ongoing search and evaluation of additional copper gold projects
in the Asia Pacific region. 


On behalf of the Board of Directors

Cameron Switzer, President and Chief Executive Officer

Forward Looking Statements: This news release includes certain statements that
may be deemed "forward-looking statements". All statements in this release,
other than statements of historical facts, including, without limitation,
statements potential mineralization, the estimation of mineral resources, the
realization of mineral resource estimates, interpretation of prior exploration
and potential exploration results, the timing and success of exploration
activities generally, the timing and results of future resource estimates,
permitting time lines, metal prices and currency exchange rates, availability of
capital, government regulation of exploration operations, environmental risks,
reclamation, title, and future plans and objectives of the company are
forward-looking statements that involve various risks and uncertainties. .
Although the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Forward-looking
statements are based on a number of material factors and assumptions. Factors
that could cause actual results to differ materially from those in
forward-looking statements include failure to obtain necessary approvals in
respect of the transaction, unsuccessful exploration results, changes in project
parameters as plans continue to be refined, results of future resource
estimates, future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions, risks
associated with operating in foreign jurisdictions, uninsured risks, regulatory
changes, defects in title, availability of personnel, materials and equipment on
a timely basis, accidents or equipment breakdowns, delays in receiving
government approvals, unanticipated environmental impacts on operations and
costs to remedy same, and other exploration or other risks detailed herein and
from time to time in the filings made by the companies with securities
regulators. Mineral exploration and development of mines is an inherently risky
business. Accordingly the actual events may differ materially from those
projected in the forward-looking statements. For more information on the
Company, investors should review their annual filings that are available at
www.sedar.com.