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WMM

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Share Name Share Symbol Market Type
TSXV:WMM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

West Melville Completes Purchase of the Isortoq Project in Greenland

25/06/2014 1:30pm

Marketwired Canada


West Melville Metals Inc. (TSX VENTURE:WMM) ("West Melville" or the "Company")
today announced that the vendors of the Isortoq Project (Hunter Minerals Pty Ltd
of Australia) have elected to waive the final USD$1.4 million payment due on the
Isortoq Property and an amending deed to the purchase agreement to this affect
has been executed. The "Royalty Agreement" covering non-ferrous metals has also
been cancelled. This secures the exclusive right to a 100% unencumbered interest
in the Project for West Melville and Hunter will now file an application to the
Greenland Authorities to transfer title to the Isortoq Exploration Licenses over
to West Melville.


"This is a very significant development for West Melville" stated Dr. Rory
Moore, President and CEO of West Melville Metals. "With the ownership risk now
completely resolved, the Company is finally in a position to focus on advancing
this high potential project. We are very appreciative of the progressive
approach that Hunter has taken in dealing with the challenges presented by the
current tough market conditions. As a significant shareholder of West Melville,
Hunter has decided that it would be better served by creating an opportunity for
West Melville to allocate resources to advancing the Isortoq Project and thereby
create longer term value for all stakeholders."


In January 2013, the Company announced an initial National Instrument (NI)
43-101 resource estimate for the Isortoq Project located of 70.3 million tonnes
grading 38.1% FeO (29.6% Fe), 10.9% titanium oxide (TiO2) and 0.144% vanadium
pentoxide (V2O5) applying a 15% iron cutoff. It is significant to note that this
initial resource represents drilling on less than one kilometre of the Isortoq
body while evidence from previous drilling and the 2012 ground magnetic survey
has demonstrated a strike length exceeding 16.3 kilometres.


"Given the low geological risk, extremely low strip ratio for open pit mining
and the highly favourable logistics offered by the Isortoq Project, the key to
the success for this project lies in identifying an economically viable
metallurgical extraction procedure" stated John Robins, Chairman of West
Melville Metals. "Several promising new hydro-metallurgical techniques are
currently being developed at innovative laboratories around the world and we
will immediately be moving forward with evaluating the suitability of this
technology to the Isortoq deposit".  


In view of this exciting development, the Board of Directors has unanimously
decided to focus all of the Company's resources on the Isortoq Project, and as a
consequence it has elected not to exercise its option to purchase the Alex
Project in Mexico. The option on the Fraser Bay Project is secure until December
2014 and efforts continue to find a suitable partner for the project. 


In another development, Mr. Bruce Counts has resigned as a director of West
Melville in order to pursue other opportunities. The Company thanks Bruce for
his contributions over the past several years and wishes him well with his
future endeavours. 


Isortoq Project 

The 70 km2 Isortoq Project is a large iron-titanium-vanadium prospect located in
southern Greenland. Previous drilling combined with geophysical results to date
has confirmed a potential strike length of at least 16.3 kilometres with the
mineralized body being open to the south. The property is favourably located on
a deep, ice-free ocean inlet on the temperate southern coast of Greenland within
60 km of Narsaq and 100 kilometres from Narsarsuaq International Airport. Bench
scale beneficiation tests produced average concentrate grades of 48.7% Fe (62.6%
FeO); 19.1% TiO2 and 0.32% V2O5 with acceptably low levels of penalty elements
S, P, Si, Al. These are positive indicators that support the future economic
potential of the project. 


QA/QC 

Disclosure of a scientific or technical nature contained in this release has
been reviewed and approved by John Robins, P.Geo (Chairman) who is the Qualified
Person for the purposes of National Instrument 43-101.


About West Melville Metals Inc. 

West Melville is a specialty metals exploration company working to advance the
Isortoq iron-titanium-vanadium project in Greenland and the Fraser Bay Project
in Nunavut. The Company has assembled an experienced management team with a
track record of discovery success and a Board of Directors with expertise
covering the essential fields of geology, engineering and finance. The Isortoq
Project offers a combination of low geological risk with significant upside
potential in the high value specialty metal sector. 


On behalf of the Board of Directors

Rory O. Moore, Ph.D., President and CEO 

West Melville Metals Inc. 

For further information about West Melville Metals Inc. or this news release,
please visit our website at www.westmelville.com.


West Melville Metals Inc. is a member of the Aurora Mineral Resource Group of
companies. For more information please visit www.auroraresource.com.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Cautionary Note Regarding Forward Looking Statements 

Certain disclosures in this release, in particular regarding the economic
potential of the Isortoq Project and the Company's interest therein, constitute
forward-looking statements that are subject to numerous risks, uncertainties and
other factors relating to West Melville's operations as a mineral exploration
company that may cause future results to differ materially from those expressed
or implied in such forward-looking statements, including risks as to the
completion of the plans and projects. Readers are cautioned not to place undue
reliance on forward-looking statements. Other than as required by applicable
securities legislation, West Melville expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events, or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Melville Metals Inc.
Investor Relations
Toll free at 1.888.331.2269 or at 604.646.4527
info@westmelville.com
www.westmelville.com

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