WPC Resources Inc. - Corporate Update

    




  TSX-V: WPQ 

 VANCOUVER, Nov. 29, 2011 /CNW/ - WPC Resources Inc. (the "Company")  announces that it is continuing with its previously announced  non-brokered private placement (the "Private Placement") of up to  10,000,000 units (the "Units") of securities (see News Releases dated  May 30, 2011 and August 3, 2011). The Units are being placed at a price  of $0.12 per unit, for gross proceeds of up to $1,200,000. 

 Each Unit under the Private Placement consists of one common share and  one common share purchase warrant. Each whole common share purchase  warrant entitles the holder to acquire one additional common share of  the Company at an exercise price of $0.20 within twenty-four months of  closing.  The Private Placement is subject to regulatory approval. 

 The Company may pay finder's fees on a portion of the Private Placement  of 8% of gross proceeds, as well as non-transferable options to acquire  common shares of the Company in an amount equal to 10% of the total  number of Units placed by finders. The options will be exercisable for  a period of 12 months following the closing of the Private Placement at  an exercise price of $0.15 per share. 

 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. 

 "Toiyabe Pediment" and "ZPG" Properties, Nevada 

 The Company has commenced its planned drilling program in the Battle  Mountain-Eureka trend near the Cortez district, in Nevada. 

 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:  W. K. C. Clarke, Chairman & CEOTelephone: [phone] 


    

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