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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 Metals Inc.: Amendment to Isortoq Purchase Agreement

28/06/2013 11:25pm

Marketwired Canada


West Melville Metals Inc. (TSX VENTURE:WMM) ("West Melville" or "the Company")
and Hunter Minerals Pty Ltd ("Project Vendor") have agreed to amend the Isortoq
Purchase Agreement (the "Agreement") to change the "Completion Date" from July
31, 2013 to September 30, 2013. The Completion Date is the date on which the
Company will secure 100% ownership of the Isortoq Property by paying the Project
Vendor the amount that is equal to US$2,500,000 less the amounts paid up to and
including December 31, 2012 (US$ 1,073,875) and issuing to the Project Vendor
that number of share purchase warrants (the "VWAP Warrants") equal to US$500,000
divided by the price which is equal to 120% of the volume-weighted average
trading price of the common shares calculated over the ten trading days up to
but excluding September 30, 2013 (the "VWAP Price"). The VWAP Warrants will be
exercisable for a period of five years and will be exercisable at a price equal
to the VWAP Price.


The Company is in discussions with potential joint venture partners to assist
with advancing the project.


Isortoq Project

The 41,900 hectare Isortoq Project is a large iron-titanium-vanadium prospect in
southern Greenland. In January 2013 West Melville announce an initial NI43-101
compliant inferred mineral resource estimate of 70.3 million tonnes grading
29.6% total iron (Fe), 10.9% titanium oxide (TiO2) and 0.144% vanadium pentoxide
(V2O5) using a cutoff of 15% Fe. 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. 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. The
mineralization at Isortoq is similar to the Mapochs deposit in South Africa,
which has been successfully exploited for a number of decades. Bench scale
beneficiation tests completed on Isortoq core samples in 2010 by Xstrata
Services gave average concentrate grades of 62.6% FeO (48.7% Fe); 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 economic potential of the project.


QA/QC

Disclosure of a scientific or technical nature contained in this release has
been reviewed and approved by Bruce Counts, P.Geoph. (Director of West Melville)
who is the Qualified Person for the purposes of National Instrument 43-101.


About West Melville Metals Inc.

West Melville is an iron ore and specialty metals exploration company working to
advance the Fraser Bay iron ore project in Nunavut and the Isortoq
iron-titanium-vanadium project in Greenland. 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. West Melville's projects offer a combination of low
geological risk with significant upside potential in high demand commodity
sectors.


On behalf of the Board of Directors

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

West Melville Metals Inc.

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.


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: 1.888.331.2269 or 604.646.4527
604.646.4526 (FAX)
info@westmelville.com
www.westmelville.com

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