STEAMBOAT SPRINGS, Colo., Sept. 21, 2021 (GLOBE NEWSWIRE) -- WESTERN SIERRA RESOURCE CORPORATION (OTC: WSRC) is pleased to provide the following corporate and project updates:
General Information:
- In August 2021, $1,066,709.22 in cash principal reduction payments were made to the Company’s creditors.
- The PCAOB registered accounting firm of BF Borgers CPA PC was engaged by the Company to audit its financial statements.
- Between June 15th and September 20th 2021, a total of $6,400,000.00 in land acquisitions have been closed, or are under “hard” non-refundable earnest money contract pending closing for development of the Hayden HAIZ project in collaboration with Global Hemp Group, Inc. Trading (CSE:GHG / OTC:GBHPF / FRA:GHG).
- The Company has demonstrated its commitment to the continuing investment of time, energy and financial resources necessary to become a broad-based natural resource company with high value and high-income generating assets including water, precious metals, helium, energy production/conservation technologies, agriculture and real estate to the benefit of its shareholders.
PROJECT UPDATES:
Industrial Hemp/Water Rights
The Company has, in collaboration with Global Hemp Group, Inc., acquired or contracted on 875 acres of land in, and contiguous to, the Town of Hayden, Colorado on which to directly apply it’s $40+ million in water and infrastructure assets for the irrigation of organic hemp for processing and manufacture of carbon-sequestering products for construction of affordable homes. Planning and Engineering is underway for construction of processing and manufacturing facilities, (totaling 36,000 square feet) and affordable hemp-based homes.
MPG Energy Production/Conservation Technologies Project
The Company is, (by and through its Mystere Power Group, LLC (MPG) team), developing, testing, adapting, patenting, and actively marketing a number of disruptive and innovative technologies to reduce energy consumption in cooling and heating (HVAC) and refrigeration systems; effectively and non-chemically eliminate airborne pathogens in commercial buildings; generate clean energy using a turbine system for cost-effective off-grid power generation and utilizing air-water generation (AWG) technology to meet domestic water requirements. Several exciting licensing and end-user contracts are pending.
SSMG-Sage Hen Mining Project
As stated in prior announcements, the Company’s officers and directors have committed to funding the $10 million Sage Hen Mining Project without issuing any new shares. The next $2.5 million is scheduled to transfer from WSRC to SSMG within the next 30 days to allow completion of the permitting necessary for construction of the 100 ton per day pilot plant. The Company is in the process of acquiring additional acreage in the area for future expansion and projects. In order not to create unnecessary competition we will make claim locations public as soon as this process is completed. The enhanced microscopic recovery technologies employed by SSMG continue to demonstrate superior results.
Helium Project
The WSRC Helium Joint Venture has been expanded to also include conventional oil and natural gas exploration identified using proprietary and open source geological and geophysical data to identify areas with potentially significant oil and natural gas reserves. Several areas within the boundary of the Helium production project have been assessed as viable oil and gas prospects and are now under negotiation for drilling rights. The joint venture anticipates developing 3 to 6 projects per year beginning in 2022.
About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has 114-year history as 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.
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.
Forward Looking Statements:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance. or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Contact:
Western Sierra Resource Corporation
westernsierraresource.com
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