Gold Coast Mining and Western Sierra Expand Mining Agreement

Gold Coast Mining and Western Sierra Expand Mining Agreement

Gold Coast Mining Corp. announced that the Company and Western Sierra Mining Corp. have agreed to expand their current joint venture. Western has agreed to contribute its SunGold Mine project to the joint venture. SunGold consists of 75,000 ounces of indicated gold resources worth an estimated $60 million dollars.

The SunGold mine is located about 24 miles southwest of Prescott, Arizona and consists of 5 unpatented mining claims. There has been an 11 hole-drilling program done by Kennecott Exploration. The project consists of 2-3 million tons of low grade gold bearing ore suitable for surface mining.

As part of the transaction, Western will expand the joint venture to include the SunGold project in exchange for 2 seats on the board as well as the appointment of 2 officers with mining specific backgrounds. Additionally, this transaction will result in the elimination of certain debts and obligations and the issuance of 60,000,000 preferred shares, effectively giving Western and its affiliates a substantial ownership interest in Gold Coast Mining.

Jason Cooper, acting President and CEO of Gold Coast Mining Corp. stated, “This is a great project with a lot of gold potential and we are very pleased to have it be a part of our joint venture with Western. I am looking forward to the added assistance and resources from the new officers and directors that Western will be providing. Having these individuals with mining specific backgrounds will be a tremendous asset to Gold Coast and myself in moving our mining operations forward.”

Cooper added, “It is a compliment to our progress in rebuilding this company and potential of projects to count Western amongst our large shareholders.”

As previously announced, Gold Coast and Western entered a joint venture to develop Western’s Ore Cache Mine.

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