WPC Resources Inc. Completes Non-brokered Private Placement

    




 EXPLORATION UPDATE ZPG PROPERTY  

  TSX-V: WPQ 

 VANCOUVER, Dec. 7, 2011 /CNW/ - WPC Resources Inc. (the "Company")  announces that further to its news release dated August 3, 2011 and  November 29 2011 that it has completed a non-brokered private  placement.  The Company issued an aggregate of 6,877,500 units at a  price of $0.12 per unit for gross proceeds of $825,300.  Each unit  consists of one common share and one share purchase warrant which  entitles the holder to purchase an additional common share of the  Company at a price of $0.20 until November 23, 2013.  The shares and  underlying shares are subject to a four month hold period. 

 The Company paid finder's fees in the amount of $53,688 and 536,250  warrants at a price of $0.15 until November 23, 2012 in connection with  the private placement. 

 The proceeds of the Private Placement will be used to fund the work  program on the Company's "Toiyabe Pediment" and "ZPG" properties.  The  properties are located in central Nevada within the Battle  Mountain-Eureka Trend near the Cortez District. 

 Exploration Update ZPG Property 

 WPC Resources Inc. (WPC) is pleased to announce that it has nearly  completed the first of three drill holes on ZPG Property, which lies  within the favourable Battle Mountain - Eureka Trend, near the Cortez  district. The nearest major mining operations are the Phoenix deposits  (Newmont Mining Corp.) approximately 8 kilometres north of the ZPG  property, which host significant copper and gold reserves and  resources. The ZPG property is prospective for two styles of  mineralization, porphyry style copper-gold and skarn mineralization. 

 Limited historic work has been completed on portions of the current day  ZPG property by previous operators exploring the trend. Past work  includes geophysical surveys (gravity, magnetic, and IP) and limited  diamond drilling. Magnetic surveys within the region have outlined 5  circular magnetic features. The two northernmost features are  associated with gold-copper mineralization at Newmont's Copper Canyon  and Copper basin deposits. The ZPG Property is underlain by the largest  of the 3 remaining circular magnetic features. A limited IP survey  completed in 2001 and 2002 delineated a flat-lying chargeability  anomaly at a depth of approximately 500 metres measuring approximately  3.0 kilometers north-south and 1.5 kilometres east-west, coincident  with the magnetic anomaly and this conductive zone is the target.  Limited diamond drilling on the property and general area was completed  in the early 1990's with 10 holes drilled to a maximum depth of 1200  feet (366 metres); none of the holes was deep enough to test the IP  anomaly. The best mineralized intercept from the property comprised  0.12% copper over 21.34 metres (70 feet), well above the IP target. 

 Hole 1 was collared in the vicinity of the 1990's drill hole reported  above and is currently at a depth of 550 metres (1,800 feet).  Subsurface waters and caving ground conditions have necessitated  switching to rotary mud drilling in an effort to drill to a depth of  610 metres (2000 feet) and intersect the strongest portion of the IP  conductor. The onsite geologist has identified copper mineralization in  the RC rock chips, including chalcopyrite and bornite. Sulphide  mineralization was noted at approximately 460 metres (1500 feet) as the  hole intersected the IP anomaly and there was a gradual increase in  sulphide content with depth. No visual grade estimations have been  made, assays are pending but the confirmation of copper-bearing  sulphide mineralization associated with the IP conductor is highly  encouraging. 

 Upon completion of the first hole the drill will be moved to the second  site. This location will test the thickest part of the IP anomaly,  which coincidently happens to be approximately 150 metres closer to  surface as well. WPC will inform shareholders of the programs progress  and will release assay data once it is received and reviewed. 

 This news release has been reviewed and approved by Wesley Raven, P.Geo.  who is the qualified person for the project as defined under NI 43-101. 

 About WPC Resources Inc.  

 WPC Resources Inc. is a Vancouver, British Columbia based gold  exploration and development company. 

 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION 

 This news release contains certain "forward-looking information" within  the meaning of Canadian securities laws. Actual results may differ  materially from those indicated by such forward-looking information.  All information included herein, other than statements of historical  fact, including, without limitation, information regarding future  production, is considered forward-looking information and involves  various risks and uncertainties. There can be no assurance that the  forward-looking information will prove to be accurate, as actual  results and future events could differ materially from those  anticipated in such information. The TSX Venture Exchange has not  reviewed and does not accept responsibility for the adequacy or  accuracy of this release. 

WPC Resources Inc.


CONTACT:  Allan Fabbro, PresidentTelephone: [phone] 


    

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