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W Resources Announces Spain Drilling Update

Source: www.gulfoilandgas.com 1/28/2013, Location: Europe

W Resources, the tungsten and gold exploration and development company, announces the latest update on drilling at its La Parrilla tungsten project, located in southwest Spain, in which it has an exclusive option to purchase a 100% interest.

Drilling of the extension of the La Parrilla ore body is now complete, drill results are being progressively received and W expects to complete the compilation of a new JORC compliant resource estimate in the second quarter of 2013.

Assay results have been confirmed for core Holes 7, 8 and 9 of the extended La Parrilla drilling programme. Key highlights include 8 metres at 0.29% Tungsten Trioxide (WO3) in hole 9, three times the average grade of the current La Parrilla resource in hole 9. Holes 7, 8 and 9 were drilled to final depths of 200.0m, 200.0m and 250.50m and are located 640m, 470m and 200m, respectively, to the northwest of the main ore body and continue the series of strong results from the extension drilling programme.

Chairman of W, Michael Masterman, commented: “The Board continues to be encouraged by the results on the extension drilling programme, with the process of further delineating a more significant increase in both the grade and tonnage of the resource at La Parrilla nearing completion. Drilling has been completed on budget and on schedule and we expect positive results from the re-estimation of the resources incorporating these results.

With the final approval for the La Parrilla tailings project granted by the Mining Department of the regional authority of the Junta de Extremadura, (announced 22 January) the Company is making good progress towards first production in H2 2013.

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