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TUCSON, AZ / ACCESSWIRE / August 8, 2022 / Western Alaska Minerals Corp. (the “Company” or “WAM“) (TSXV:WAM) is pleased to announce that it intends to increase the size of its previously announced non-brokered private placement of common shares in the capital of the Company (the “Shares“) from up to 2,000,000 Shares to up to 2,927,000 Shares (the “Offering“) at a price of $4.10 per Share, for gross proceeds of up to $12,000,700. The Offering remains not subject to any minimum aggregate subscription.
The gross proceeds of the Offering will be used to fund the extension of the Company’s 2022 exploration program through year-end and which, using the two Company-owned drill rigs, would bring the year’s drilling meterage to approximately 10,500 meters. The core focus of the 2022 program remains step-out drilling of the Waterpump Creek carbonate replacement deposit (“CRD“) to gauge the overall footprint of the bonanza silver/zinc/lead mineralization encountered in 2021 and further explored in 2022. The proceeds will additionally be used to further explore along trend in the Last Hurrah area based on the recently completed system-wide CSAMT (controlled-source audio-magnetotellurics) program, initial metallurgical studies and ongoing road route and environmental baseline studies, expenditures in anticipation of the 2023 drill program, and general corporate purposes.
The Offering is…
