RENO, Nev., Dec. 16, 2004 (PRIMEZONE) -- Western Goldfields, Inc. (OTCBB:WGDF) is pleased to announce that it has engaged Research Capital Corporation to act as sponsor for its listing on the Toronto Stock Exchange.
Toronto-based Research Capital is an employee-owned, integrated investment bank focused on small to mid-capitalization growth companies with a particular emphasis on natural resources.
Toby Mancuso, President, commented, "We are excited to be working with Research Capital to satisfy our objective of listing our shares on a recognized Canadian stock exchange in early 2005. Research Capital is providing an impressive and highly-experienced team that is already knowledgeable with respect to our cornerstone Mesquite operation and understands the potential that we have recognized."
About Western Goldfields
Western Goldfields acquired the Mesquite Gold Mine in southern California in 2003. The mine produced approximately three million ounces of gold from its inception in 1986. Western Goldfields is focused on expanding mining operations at Mesquite within existing operating permits, exploring and developing high grade gold mineralization near surface and at depth, and optimizing current production from the material placed on the heap leach pads by previous operators. The Company also holds exclusive exploration and development rights to the Cahuilla gold project in Southern California, as well as a portfolio of exploration properties in Nevada and throughout the western United States.
Certain information contained in this news release contains "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, as amended, that are intended to be covered by the safe harbor created by such sections. However, such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from such forward-looking statements. For a discussion of such risks, uncertainties and other factors, please see "Risk Factors" in our Registration Statement on Form SB-2. The Company disclaims any intent or obligation to update publicly any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.