thinks this holding has possibilities.
"CKR Close 2013-02-05 C$ 0.03
From News Release (C-WER) Weststar Resources Corp (2)
Mr. Will Rascan of Weststar reports
WESTSTAR RESOURCES OPTIONS PROPERTY ADJACENT TO GOLD REACH'S SEEL, WEST SEEL AND OX DEPOSITS, BRITISH COLUMBIA
Weststar Resources Corp. has entered into an option agreement with Caribou King Resources Ltd to earn a 70-per-cent interest in the Tahts Reach property and Barkerville claims, comprising six mining claims covering a total of 2,843 hectares, located in British Columbia adjacent to both Gold Reach Resources Ltd. and Barkerville Gold Mines Ltd.
Pursuant to the terms of the option agreement, to earn a 70-per-cent interest in the property, the company must issue to the vendor $5,000 and 300,000 common shares in the capital of the company upon TSX Venture Exchange approval, $10,000 and 150,000 shares on the first anniversary of exchange approval, and $25,000 and 150,000 shares on the second anniversary of exchange approval. In addition, the company must incur exploration expenditures on the property totalling $45,000 over two years.
The contiguous claims adjoining Gold Reach cover 1,800 hectares and are situated on the northeast boundary of its 100-per-cent-owned Ootsa property. Gold Reach announced on Jan. 29, 2013, an updated resource estimate for the Seel and West Seel deposit and awaits an updated resource for the Ox deposit on the Ootsa property. The results of the new resource estimate are summarized as, "At a 0.2-per-cent-copper-equivalent cut-off, the Seel deposit contains an indicated resource of 67.8 million tonnes grading 0.21 per cent copper, 0.17 gram per tonne gold, 0.015 per cent molybdenum and 2.02 grams per tonne silver (0.39 per cent copper equivalent) plus an inferred resource of 410.9 million tonnes grading 0.16 per cent Cu, 0.11 g/t Au, 0.018 per cent Mo and 1.95 g/t Ag (0.31 per cent CuEq)."
Weststar president, Will Rascan, stated: "We are excited in this JV opportunity that's in close proximity to the Huckleberry mine and adjacent to Gold Reach's rapidly expanding resource Ootsa project. Management continues to actively source opportunities that create shareholder value."
This agreement is subject to approval of the exchange.