Western Keltic Signs MOU with Stewart Bulk Terminals Ltd.
Vancouver, Canada, April 30, 2007. Western Keltic Mines Inc. ("Western
Keltic" or the "Company") is pleased to announce the signing of a
memorandum of understanding ("MOU") with Stewart Bulk Terminals Ltd.
("SBTL") in Stewart, BC. The MOU commits both parties to start
discussions leading to an agreement for the provision of concentrates
storage and loading facility in the port of Stewart for the Kutcho
"In our experience, Stewart Bulk Terminals is a very progressive
business that is planning for the future," said John McConnell,
President and CEO, "We look forward to finalizing this agreement and to
a long term working relationship with the SBTL management team".
Western Keltic foresees producing approximately 118,000 tonnes of
copper concentrate and 89,000 tonnes of zinc concentrate annually for
shipment, beginning in late 2009. The concentrates will be hauled by
truck from the mine site to Stewart for storage before being loaded for
shipment to various destinations on the Pacific Rim. By signing this
MOU, SBTL will ensure that it has the ability and capacity to handle
Western Keltic concentrates during the Kutcho Project's operational
phrase. SBTL will immediately place the storage and loading of Western
Keltic concentrates in its development plans so any required personnel
and/or infrastructure changes can be completed by the fourth quarter of
The Port of Stewart & Stewart Bulk Terminals Ltd.
Located on the BC-Alaska border, the port of Stewart is the
northernmost deep-water, ice-free port in British Columbia, capable of
handling deep-sea traffic.
Stewart Bulk Terminals Ltd. is a privately-owned company operating a
bulk product storage and loading facility in Stewart. The facility has
modern upgraded dock that permits the loading of concentrates for
shipment around the Pacific Rim. SBTL has been serving the shipping
needs of the Northwestern BC since 1993.
Western Keltic is a mineral exploration and development company and is
the 100 per cent owner of the Kutcho Project, a proposed copper/zinc
mine located 100 km east of Dease Lake, BC. The Company is currently
completing a Pre-feasibility study and has entered into the BC
Environmental Assessment process seeking an Environmental Certificate
and related permits for the construction, operation, closure and
reclamation of the project.
The Kutcho property hosts three massive sulphide copper-zinc deposits:
Main, Esso and Sumac:
Deposit Tonnes Copper % Zinc % Silver Gold
(Measured & Indicated) 14,200,000 1.86 2.44 33 0.4
Esso (Indicated) 2,000,000 2.93 5.5 69 0.6
Sumac (Inferred) 4,200,000 1.35 1.85 21 0.2
Current planning foresees the construction of a 2.0 million tonne per
annum mine in 2008 with production beginning late in 2009. Annual
production is expected to approximate 36,000 tonnes of copper, 39,000
tonnes of zinc, and 42,000 kg of silver and 340 kg of gold in
concentrates. Metallurgical test work has demonstrated 90% copper
recovery and 75% Zn recovery, producing a 31% copper concentrate and a
54% zinc concentrate. It should be noted that the Company has not yet
completed its economic study with respect to the potential production
from the Kutcho Property. As a result the above production figures are
projections only, and as such are subject to risks, uncertainties and
other factors that may cause actual results to differ materially from
Western Keltic is traded on the TSX Venture Exchange under the symbol
For further information:
604-682-8414 or 1-800-501-1201
On behalf of the Board of Directors
WESTERN KELTIC MINES INC.
President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
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Copyright (c) 2007 WESTERN KELTIC MINES INC. (TSX-V:WKM) All rights
reserved. For more information visit our website at
http://www.keltic.com/ or send mailto:email@example.com