WCB Resources in the final stages of completing the agreement for the provision of drilling services with the preferred contractor for a drilling program at the Misima porphyry prospect on Misima Island. Once executed, the company expects the drill rig to arrive on Misima Island in the next two weeks.

In late April, drill tender documents were provided to nine interested parties for the provision of drilling and ancillary services on Misima Island. Through the first half of May six of the nine interested parties visited Misima Island and provided proposals to WCB.

Following receipt of the proposals, the company proceeded with a systematic evaluation that considered a number of criteria. This evaluation resulted in a short list of two preferred drilling companies. The company then completed a final evaluation to pick the preferred contractor.

The Misima porphyry prospect has been defined by systematic exploration techniques which commenced in early 2012. Soil sampling defined a large 1100 metre by 800 metre high order soil copper-gold anomaly that is supported by highly significant channel sample results.

Geological mapping defined a zone of upper level porphyry-style alteration, multi-phase veining and intense fracturing associated with this anomalism. An aeromagnetic survey outlined a large buried magnetic high interpreted as magnetite alteration which has previously not been drill tested to depths that modern successful exploration groups target.

Halo drill holes with broad copper-gold intersections over a 1500 metre by 1000 metre area further support and validate the prospectivity. Planned drill testing by WCB will be targeted at the central interpreted higher grade components of this classic porphyry copper-gold-silver system with planned drill hole depths of more than 1000 metres.

WCB can obtain up to a 70% interest in the project from Pan Pacific Copper by spending a total of Aus$9 million within a staged timeframe subject to standard regulatory approvals. www.wcbresources.com