updated 5/3/2011 9:16:48 AM ET 2011-05-03T13:16:48

PRESCOTT, Ariz., May 3, 2011 (GLOBE NEWSWIRE) -- Western Sierra Mining Corp., (Pink Sheets:WSRA) announced today that it will begin the initial phase of development at the Big Chief mine located in Central Arizona.

The Big Chief is composed of several unpatented claims situated in the Hassayampa Mining District approximately 12 miles south of Prescott, Arizona. Most historical production from the Big Chief occurred during the late 1890s with some sporadic production thereafter. The property is mainly an underground gold deposit with some surface exposures and carries small amounts of silver.

Western will begin a geological evaluation of the mine with the intent of expanding the current claim block. We will first take samples from the existing outcrops and trenches to confirm the previous exploration work. After applying for a small exploration permit, we intend to open the existing tunnels and sample the existing shafts in an effort to further define the present existing ore body.

During this brief exploration period we intend to construct a Plan of Operation to be submitted to the U.S. Forestry Service for review as we expand the program to include our initial pre-production intent.

The Big Chief Mine is a part of the Gold River Mine Group acquired by the Company in 2008. The Gold River Mine Group has a total of 88,000 oz. proven/probable/indicated gold reserves and 755,000 oz. of proven/probable/indicated silver reserves. At $1,200/oz. gold and $30/oz. silver, the gold reserves total $70,000,000 and the silver reserves total $9,000,000.

About Western Sierra Mining Corp.

Western Sierra Mining is an aggressive gold and silver exploration and mining company focused on the historic mining districts of the Bradshaw Mountains of Arizona with additional areas of interest in Nevada and Mexico.

Statement Concerning Forward-Looking Information

Certain information set forth herein contains "forward-looking statements" within the meaning of the federal securities laws.  The word "estimates," "expects," "anticipates," "forecast," "plans," "intends," "believes" and variations of such words or similar expressions are intended to identify forward-looking statements. 

The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis but there can be no assurances that management's expectations, beliefs, and projections will be achieved or accomplished. 

CONTACT: Mr. Michael Chaffee, 928-680-5513
         Mr. Dennis Atkins, 405-330-8395

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.04%
$30K home equity loan FICO 5.23%
$75K home equity loan FICO 4.66%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.28%
13.27%
Cash Back Cards 17.74%
17.72%
Rewards Cards 17.01%
16.98%
Source: Bankrate.com