West Kirkland Mining Announces LLC Agreement Signed With Waterton; Hasbrouck Gold 762,000 Ounce Reserve Nevada Gold Project Advancing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2017) - West Kirkland Mining Inc. (TSX VENTURE:WKM)(OTCQB:WKLDF) ("West Kirkland" or the "Company") today announces that a Limited Liability Corporation Agreement (the "LLC Agreement") governing the Hasbrouck Gold Project (the "Hasbrouck Project"), located near Tonopah, Nevada has been executed between the Company and Clover Nevada LLC, a Nevada limited liability company and 100% subsidiary of Waterton Precious Metals Fund II Cayman, LP ("Waterton"), who acquired a 25% interest in the Hasbrouck Project in 2015. West Kirkland owns a 75% interest and is the operator of the Hasbrouck Project. The LLC Agreement formally ratifies the relationship between the two owners. Under the terms of the LLC agreement Waterton is required to fund their 25% share of expenditures on the Hasbrouck Project incurred subsequent to September 1, 2016. Waterton has indicated their intention to fund their 25% share of expenditures. However, should Waterton choose not to fund their share of expenditures, their interest will be diluted according to a prescribed formula in the LLC agreement.