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| November 26, 2014 --- Vol. 08, No. 48 | November 2014
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British Columbia
NIOBIUM – Taseko Mines Ltd. Nov. 25 reported that it has entered the Environmental Assessment Review of the company’s Aley niobium mine project with the British Columbia Environmental Assessment Office. Aley’s project description was submitted in September to the BCEAO as well as to the Canadian Environmental Assessment Agency. The Federal Minister of Environment has granted substitution of the environmental assessment to British Columbia. This gives oversight and responsibility of the Aley environmental assessment process to the BCEAO. Taseko President and CEO Russell Hallbauer said, “We are looking forward to working with the province of British Columbia to move our Aley project forward. We anticipate, and are fully prepared for a rigorous review by the province and over the course of the next few months will develop a detailed environmental assessment schedule.”
FINANCE – Westhaven Ventures Inc. Nov. 24 said it has entered into a loan agreement with Anglo Celtic Exploration Ltd. to provide an unsecured loan of C$200,000. Any outstanding balance on the loan is to be fully repaid by Nov. 19. The company may make early repayment of the loan at any time prior to the maturity date without any prepayment penalty or bonus. The loan will accrue interest at a rate of 10 percent per annum, with the accrued interest to be paid at the time of the repayment of the loan. Anglo Celtic is a private company owned by Grenville Thomas and Gareth Thomas. Grenville Thomas is the president and CEO of Westhaven Ventures and Gareth Thomas is a director. Grenville Thomas and Gareth Thomas beneficially own, directly or indirectly, or exercises control or direction over 10.68 million common shares of Westhaven, representing about 39.44 percent of the 27.08 million issued and outstanding common shares of Westhaven. Anglo is controlled by directors of the company, and is a “related party” of the company within the meaning of multilateral instrument 61-101 Protection of Minority Security Holders in Special Transactions. As such, the loan is considered a “related party transaction”. Proceeds of the loan will be used to advance exploration efforts at the company’s BEN and BEN South properties and for general working capital. The BEN property is an exploration-stage nickel project located about 52 kilometers (32 miles) north of Williams Lake, B.C. As of Nov. 24, the company has completed three drill programs consisting of 2,610 meters of diamond drilling across 23 holes. These 23 holes were drilled in five separate zones with the most recent drill campaign focusing on the Skelton Zone, Southern Lobe Zone, Ring Zone and Northern Lobe Zone. Nickel mineralization on the BEN is contained within extensive serpentine bodies and occurs mainly as the high-grade nickel sulphides pentlandite, millerite and bravoite. Nickel-bearing serpentinite is abundant on the property. Data generated from drill programs has indicated that higher nickel grades are associated with higher magnetic susceptibility readings. Management believes this is a large system which is outlined well by the airborne magnetic survey. Assays are pending from a recently completed 928-meter diamond drill program.
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