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Wednesday, December 1, 2021

Western Sierra Resource Corp (OTCMKTS: WSRC) Major Move Northbound as Co Completes Audit & Files S-1 Initial Step Towards NASDAQ Listing

Western Sierra Resource Corp (OTCMKTS: WSRC) is skyrocketing up the charts after the Company announced the completion of audits reflecting $47 Million in assets and prepares S-1 Filing to take initial steps towards NASDAQ listing. Currently under heavy accumulation WSRC is emerging as a volume leader in small caps and is quickly getting noticed by some big players. As we previously reported WSRC is looking to blaze a path along the likes of Netlist and break out into a whole new dimension – a break over $0.492 highs from earlier this year and its blue skies ahead for WSRC. 

WSRC took off in June after the Company consummated an agreement to acquire 70% of Silver State Mining Group, Inc. SSMG owns 49% of the Sage Hen Mining claims in Nevada totaling 640 acres. The Company also announces that on July 22, 2021, an Agreement was executed that expands the Sage Hen Mine boundary by 660 acres to a total of 1300 acres. This expansion provides the Company with over 200 years of source material at 1100 tons per day of production at a depth of 100 feet.   WSRC and SSMG plan on building a 100 ton/day plan and then immediately increasing that to 1,100 tons/day. Projected annual net income from the 100 ton/day and 1,100 ton/day operation is $269 million and $3.2 billion respectively. The R&P Report determined that a 69% recovery rate increase from the Company’s earlier estimates is likely—translating to projected net annual revenues of $4.6 billion (versus $3.2 billion) at scale of 1100 tons of ore processed per day. WSRC has momentum, huge liquidity and legions of new shareholders bidding up the price as it makes a powerful move towards previous highs.

Western Sierra Resource (@WSRCorp) | TwitterWestern Sierra Resource Corp (OTCMKTS: WSRC) was founded in 1907 and has a 114-year history as a gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. WSRC currently owns six precious metal reserves in Arizona. In 2014 the Company broadened its vision to include natural (and renewable) resources with its acquisition of water rights and associated infrastructure assets in Colorado for purposes of irrigating and cultivating industrial hemp; processing hemp for manufacture of various building products; and for construction of affordable homes utilizing hemp-based materials—among other beneficial uses. Commercial, Industrial, and Agricultural land for these purposes has been recently acquired (closed as of 06.15.21) at a price of $1,400,000, with additional agricultural and residential land also now under a $250,000 non-refundable earnest money purchase contract. WSRC’s intent is to become a broad-based resource company with high value and high-income generating assets including water, agriculture, precious metals, and related technologies. WSRC is not a subsidiary of any other company. WSRC and Global Hemp Group (GHG) have formed an association through a swap of Preferred Stock to utilize WSRC’s $40+ million in Water and Infrastructure Assets and GHG’s extensive experience with industrial hemp (and financial resources) in a collaborative effort to develop a Hemp Agro-Industrial Zone (“HAIZ”) in Northwest Colorado. 

In August the Company reported results of an ‘Assay Review and Enhanced Recovery Report’ (July 21, 2021) commissioned with California’s R&P, LLC (James C. Cousino, PhD, Principal).* The R&P Report determines that a 69% recovery rate increase from the Company’s earlier estimates is likely—translating to projected net annual revenues of $4.6 billion (versus $3.2 billion) at scale of 1100 tons of ore processed per day. The R&P Report was initiated prior to the Company’s acquisition of 70% of SSMG’s common stock (announced June 30, 2021). This Report will be updated continuously through the requisite 90-day permitting process during which allowable testing and preliminary on-site development is taking place, and thereafter concurrent with full production. Upon permit approval, the Company will immediately begin construction of the SSMG 100 ton per day Pilot Plant. Prior to, and during Plant construction, off-site processing and ongoing testing by R&P will ensure refinement and optimization of processing protocols to maximize yield balance from gold, silver, platinum, palladium, rhodium, and iridium present in the mineral-rich source material being extracted at the Sage Hen site. Additional on-site samples were excavated July 19th through July 23rd and delivered to R&P in California for that purpose. 

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The Company also announces that on July 22, 2021, an Agreement was executed that expands the Sage Hen Mine boundary by 660 acres to a total of 1300 acres. This expansion provides the Company with over 200 years of source material at 1100 tons per day of production at a depth of 100 feet. The Company is also pleased to confirm that Site Works Logistics, LLC has been engaged as SSMG’s development partner for the Sage Hen Project. ‘Site Works’ experience in heavy construction and material handling will be integral in maintaining production schedules and meeting budgetary objectives. Their addition to the SSMG team helps ensure the timely final design approval and fabrication of the 100 ton per day Pilot Plant for subsequent expansion to a capacity of 1100 tons per day. 

On October 27 WSRC announced the successful completion of an Audit of the Company’s last two Annual Financial Statements—years ending December 31, 2019 and December 31, 2020. An independent auditor and PCAOB registered accounting firm, BF Borgers CPA PC, completed the audit of the Company’s financial statements within the guidelines of Generally Accepted Accounting Principles (GAAP). The audits reflect total assets of $47.4 million as of December 31, 2020. Audited figures reflect assets of $49.6 million as of 06.30.21. The Company will file a copy of the completed 2019 and 2020 Audit on OTC Markets concurrent with this press release.     

As part of its overall plan to move toward a listing on NASDAQ, the Company is preparing to file its Form S-1 registration statement. The Company re-confirms that no new shares will be issued in conjunction with the S-1.     

Dennis Atkins, CPA, CFO of Western Sierra Resource Corporation stated, “Management is very pleased with the progress made in each of the Company’s Natural Resource and Technology projects over recent months. Additional hard asset acquisitions and completion of the requisite third-party assessments for approval, permitting, and definitive contracts in each of the project categories is now setting the stage for significant revenue for the Company in 2022 and beyond. This very deliberate and painstaking process has established the foundation for sustainable growth in both asset value and revenue—thereby creating a stock worth holding on to. It’s time to move the Company forward and out of the Pink Sheets as a fully reporting Company.” 

https://twitter.com/EmilyLi00990824/status/1453412370143907843

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WSRC is skyrocketing up the charts after the Company announced the completion of audits reflecting $47 Million in assets and prepares S-1 Filing to take initial steps towards NASDAQ listing. Currently under heavy accumulation WSRC is emerging as a volume leader in small caps and is quickly getting noticed by some big players. As we previously reported WSRC is looking to blaze a path along the likes of Netlist and break out into a whole new dimension – a break over $0.492 highs from earlier this year and its blue skies ahead for WSRC.  WSRC took off in June after the Company consummated an agreement to acquire 70% of Silver State Mining Group, Inc. SSMG owns 49% of the Sage Hen Mining claims in Nevada totaling 640 acres. The Company also announces that on July 22, 2021, an Agreement was executed that expands the Sage Hen Mine boundary by 660 acres to a total of 1300 acres. This expansion provides the Company with over 200 years of source material at 1100 tons per day of production at a depth of 100 feet.   WSRC and SSMG plan on building a 100 ton/day plan and then immediately increasing that to 1,100 tons/day. Projected annual net income from the 100 ton/day and 1,100 ton/day operation is $269 million and $3.2 billion respectively. The R&P Report determined that a 69% recovery rate increase from the Company’s earlier estimates is likely—translating to projected net annual revenues of $4.6 billion (versus $3.2 billion) at scale of 1100 tons of ore processed per day. WSRC has momentum, huge liquidity and legions of new shareholders bidding up the price as it makes a powerful move towards previous highs of $0.492. We will be updating on WSRC on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with WSRC.

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Disclosure: we hold no position in WSRC either long or short and we have not been compensated for this article.

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