Western Troy Capital Resources Inc.: Quebec Budget Includes Full Funding of Otish Mountain Road, Construction to Start in Summer
18 Marzo 2011 - 3:31PM
Marketwired Canada
Western Troy Capital Resources (TSX VENTURE:WRY) (Western Troy or the Company)
announced today that the Province of Quebec has announced its Northern Plan
Budget that includes full funding ($278 million) for the construction of the all
weather Otish Mountain Road (Route 167 from Temiscamie to Stornoway's Renard
Diamond Project). The budget document includes a schedule for the project
including construction to begin this summer. The road will pass within 70
kilometers of Western Troy's MacLeod Lake Copper/Molybdenum Project. The MacLeod
Lake Preliminary Evaluation (Scoping Study), which projected strong economic
returns, includes $14 million for construction of a road spur from the Otish
Mountain Road to the MacLeod Lake Project.
The Northern Plan Budget totals $1.6 billion and includes other infrastructure
projects including $500 million for equity investments in resource projects in
Northern Quebec. A full copy of the Northern Plan Budget will be available soon
on Western Troy's Website (www.westerntroy.com).
Western Troy's CEO, Rex Loesby, commented, "This is great news for our MacLeod
Lake Project. It also is tangible evidence that Quebec, where Western Troy has
concentrated its exploration efforts, intends to continue to be one of the
world's best jurisdictions for mining investment. Funding of the Otish Mountain
Road is a major step in the process that we expect will lead to full development
of our MacLeod Lake Project."
About Western Troy: Western Troy's shares trade on the TSX Venture Exchange
under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More
information on Western Troy can be found on its Website at www.westerntroy.com.
Forward Looking Statements: Statements in this release that are forward-looking
reflect the Company's current views and expectations with respect to its
performance, business, and future events. Such statements are subject to various
risks and assumptions, some, but not necessarily all, are disclosed elsewhere in
the Company's periodic filings with Canadian securities regulators. Such
statements and information contained herein represent management's best judgment
as of the date hereof based on the information currently available; however
actual results and events may vary significantly. The Company does not assume
the obligation to update any forward-looking statement.
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