West Vault Mining Completes Purchase Of 25% Hasbrouck Gold Project

VANCOUVER - West Vault Mining Inc. has completed the purchase of a 25% interest in the Hasbrouck gold project, located in Tonopah, Nevada, from Clover Nevada LLC, a wholly owned subsidiary of Waterton Precious Metals Fund II Cayman, LP. West Vault has now consolidated 100% ownership of the Hasbrouck Gold Project. The Hasbrouck Gold Project, comprised of the planned Three Hills mining area and the nearby planned Hasbrouck Mine, hosts an estimated 762,000 ounces of proven and probable gold reserves and 10,569,000 ounces of proven and probable silver reserves (proven mineral reserves of 6,242,000 tons at a grade of 0.02 Au oz/ton plus 0.41 Ag oz/ton and probable mineral reserves of 39,028,000 tons at a grade of 0.016 Au oz/ton plus 0.205 Ag oz/ton). The Updated Preliminary Feasibility Study determined that the Hasbrouck Gold Project would be a low cost, open pit, heap leach extraction gold mine with modest estimated peak funding of US $47 million and average gold production of approximately 71,000 ounces at an AISC of approximately US $709 per ounce.

R. Michael Jones, P.Eng., CEO, said, "We are very pleased to consolidate the 100% project interest in this advanced stage gold project, with good shareholder support at a time of increased interest in gold and gold mining." West Vault is focused on advancing the Hasbrouck Gold Project. The first pit and heap leach area at Three Hills has federal and state permits and Company is working towards completing full federal permitting for the second phase Hasbrouck Mine while keeping corporate G&A costs lean and efficient.