Whetstone Strategic Update
Tuesday 21st July, 2009
Whetstone PROVIDES STRATEGIC UPDATE
Calgary,
Alberta (TSX Venture: WMI), July 21, 2009 - Whetstone Minerals Inc. ("Whetstone") is pleased to provide an update of its exploration strategy.
Whetstone
management is taking important steps to pro-actively respond to market
challenges currently experienced across the entire mineral exploration sector. To ensure Whetstone's long term success,
short term spending has been reduced whilst our key properties and complete
exploration team have been maintained.
Paul Nagerl,
President and CEO, has also been working closely with Allan Dolan and the
Clarity Minerals team to identify new, more advanced projects in Africa where
the "Clarity connection" gives Whetstone a competitive advantage.
In the
first half of 2009, Whetstone consolidated its North American land position by
seeking farm out opportunities and relinquishing non prospective ground.
Key
projects within the broad portfolio include the Wampum gold, Bluffpoint gold,
and Off Lake gold projects in Ontario.
The Wampum gold prospect is strategically located along the Cameron Lake -
Victor Island gold bearing shear zone where diamond drilling completed by
Whetstone intersected widths of up to 6.34 metres containing 2.12 gpt Au (hole
WL07-06). At the Bluffpoint gold project, Whetstone intersected up to 13.46
metres containing 2.90 gpt Au (hole BP07-09).
Additionally,
the Ontario Pipestone and Warclub regional projects remain active as does the
Eppler Ni-PGE project in Manitoba.
A 37 kilometre ultramafic complex dominates the Eppler project and is the focus
of the Ni-PGE exploration program. During the latter part of 2008, Whetstone
staked and holds 100% of a new Cu-Zn-Au project in Nunavut, with historic drill intersection
over a 1300 metre strike. This showing lies within a prospective belt in excess
of 30 kilometres.
During
the course of the year non dilutive funds have been secured to maintain
operations while the team is focused on "finding the right asset for the
current environment".
These
actions ensure that Whetstone will be optimally placed for future growth.
About
Whetstone Minerals Inc.: Whetstone is a Calgary-based,
multi-commodity, mineral exploration company with 100% ownership of properties
in Northwestern Ontario, Northern Manitoba, and Nunavut.
Whetstone's website address is www.whetstoneminerals.com.
About Clarity Mineral Services Ltd.:
CMS is an African based, integrated, private mining house wholly owned by the Jersey headquartered Clarity Capital Group. (www.claritycapital.com).
Clarity's international mineral team consists of over 25 highly experienced
technical and commercial specialists that thrive on founding and growing
successful mineral companies in Africa.
Clarity's current company portfolio consists of 8 project companies with
operational offices in South Africa,
Tanzania, Namibia, Zambia
and Zimbabwe and corporate
offices in the UK, South Africa and Canada. Clarity strives to deliver
extraordinary capital appreciation through responsible mineral exploration and
development.
For further information
please contact:
Whetstone Minerals Inc. Paul Nagerl, President and Chief
Executive Officer
Phone: (403) 543-2585
Fax: (403) 543-2599
Email: pnagerl@whetstoneminerals.com
To
be added to Whetstone's private email list, please contact info@whetstoneminerals.com
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy
of this release.
