VANCOUVER, Oct. 19, 2011 /PRNewswire/ - Wesgold Minerals
Inc. (TSXV: WSG) announces that it has arranged a bridge loan of
$1.0 million to provide funding for
general working capital requirements while the Company awaits TSX
Venture Exchange approval to the Company's option agreement with
Minatura International on the Cordoba Property, Colombia and related financing.
The loan is repayable within one year and is
non-interest bearing. In consideration for the loan, the
Company has agreed, subject to stock exchange approval, to issue to
the lender 200,000 common shares of the Company.
About Wesgold Minerals
Wesgold Minerals Inc. is a Vancouver-based mineral exploration company
focused on the acquisition and exploration gold and copper projects
in Colombia. Wesgold recently
optioned from Minatura the Cordoba property, covering 25,790
hectares in the Department of Cordoba, Colombia, 200km north of the city of
Medellin.
ON BEHALF OF THE BOARD
"Ralph Rushton"
Ralph Rushton, Director
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this news release.
SOURCE Wesgold Minerals Inc.