TUCSON,
Ariz., May 20, 2022 /CNW/ - Western Alaska
Minerals Corp. (the "Company" or "WAM") (TSXV: WAM) is
pleased to announce that it has granted options for 275,000 common
shares at an exercise price of C$1.65
for a period of five years of which 90,000 have been granted to
non-executive Directors.
About WAM
WAM began trading as a Tier 1 company listed on the TSXV Venture
Exchange ("TSXV") in November 2021,
and maintains corporate offices in Alaska and Arizona. WAM has reassembled and fully
controls all claims in the District, located in western
Alaska near the Yukon River,
covering 49,280 acres (77 square miles). The District was
originally explored by Anaconda Minerals Co. in the early 1980's.
Since 2010, WAM and its private precursor company, Western Alaska
Copper & Gold Company, has been engaged in exploring and
advancing its interests in the District and now controls a
diversified portfolio of five deposits that contain gold, silver,
copper, lead, and zinc.
The Company currently has 18,800,520 common shares issued and
outstanding and 238,643 proportional shares issued and outstanding.
Each proportional share is convertible to 100 common shares at the
request of the shareholder and in the discretion of the
Company. Because of these conversion rights, for market
capitalization and financial analysis purposes, the Company
believes it is appropriate to convert the proportional shares to
common shares and add the product of the conversion to the current
number of common shares outstanding. When doing so, the sum
of common shares (18,800,520) and converted proportional shares
(23,864,300) equals 42,664,820 shares. Further information
regarding the Company's share structure is available upon
request.
On behalf of the Company
"Kit Marrs"
Kit
Marrs
President &
CEO
kit@westernalaskaminerals.com
Phone: 1-520-200-1667
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accept
responsibility for the adequacy or accuracy of this
release.
Forward Looking
Information
Certain statements made, and information contained herein may
constitute "forward looking information" and "forward looking
statements" within the meaning of applicable Canadian
and United States securities legislation. These
statements and information are based on facts currently available
to the Company and there is no assurance that actual results will
meet management's expectations. Forward-looking statements and
information may be identified by such terms as "anticipates",
"believes", "targets", "estimates", "plans", "expects", "may",
"will", "could" or "would". Forward-looking statements and
information contained herein are based on certain factors and
assumptions regarding, among other things, the estimation of
mineral resources and reserves, the realization of resource and
reserve estimates, metal prices, taxation, the estimation, timing
and amount of future exploration and development, capital and
operating costs, the availability of financing, the receipt of
regulatory approvals, environmental risks, title disputes and other
matters. While the Company considers its assumptions to be
reasonable as of the date hereof, forward-looking statements and
information are not guaranteeing of future performance and readers
should not place undue importance on such statements as actual
events and results may differ materially from those described
herein. The Company does not undertake to update any
forward-looking statements or information except as may be required
by applicable securities laws.
SOURCE Western Alaska Minerals Corp.