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| | June 08, 2010
Far West Engages BMO Capital Markets to Advise on Financial and Strategic Matters
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| | Vancouver, BC - Far West Mining Ltd. (TSX: FWM) announces that as part of its ongoing governance process, the Board of Directors has engaged BMO Capital Markets to advise the Company and Board of Directors on a broad range of financial and strategic matters.
As the Company continues to develop its Santo Domingo project in Chile, BMO Capital Markets will provide advice on financing alternatives, partnership and joint venture arrangements, and any potential strategic transactions which the Board of Directors may consider in the future. The Company does not plan to make any future comment on these matters unless there are material developments that warrant such a comment.
R. E. Hindson, Executive Chairman of Far West, stated, "Our board and management are proactively evaluating all alternatives available to maximize shareholder value as we continue to aggressively move forward with the development of the Santo Domingo project and the pre-feasibility study expected in Q4 2010."
The Santo Domingo project, which has a National Instrument 43-101 compliant reserve of 383 Mt (million tonnes) of indicated resource and a further 68 Mt in inferred resource, will produce 150 million pounds of copper, 3 Mt of high quality iron concentrate, and 20,000 ounces of gold per year.
Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties in Chile and Australia. For further information, investors should review the Company's filings that are available at www.farwestmining.com and www.sedar.com or contact Rick Zimmer, President and CEO or Iain MacPhail, CFO at (604) 602-9144.
FAR WEST MINING LTD.
"Richard N. Zimmer"
Richard N. Zimmer, P.Eng.
President and CEO
The TSX does not accept responsibility for the adequacy or accuracy of this news release
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The news release uses the term "indicated resource". The Company advises investors that although this term is recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits in these categories will ever be converted into reserves. |
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| | You can view the Next News Releases item: Fri Jul 9, 2010, Far West Mining Announces Appointment of Richard Mundie to Board of Directors
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