VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 17, 2016) – WPC Resources Inc. (the “Company” or “WPC”) (TSX VENTURE:WPQ)(FRANKFURT:5WP) is pleased to provide an update on corporate activities and operational plans for 2016. WPC is currently working on a definitive agreement with Mandalay Resources Corporation to acquire 100% ownership of Lupin Mines Inc. Lupin Mines Inc. owns the past producing Lupin Gold Mine and the advanced stage Ulu Gold Project.
Upon completion of the acquisition of Lupin Mines Inc. the Company will become a potential near term gold producer. The Lupin Gold Mine consists of a permitted and bonded past producing gold asset with existing and maintained mine, mill and camp infrastructure. During 2016, WPC plans an initial 3,000 metre ($1.5 million budget) drill program at Lupin to identify near term production targets as well as a mill and mine refurbishment study, both intended to position the Company to restart production at Lupin as expeditiously as possible.
About WPC Resources Inc.
WPC is a Vancouver-based gold company focused on mineral exploration and development. The Company has entered into a letter agreement to acquire a 100% interest in the historic Lupin Gold Mine and Ulu Gold Property from Mandalay Resources Corporation. In addition, WPC has entered into agreements to acquire Inukshuk Exploration Inc., the owner of a 100% interest in the 8,000-hectare Hood River property located contiguous to the Ulu Gold Property.
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