GEOSAM CAPITAL INC. ANNOUNCES INVESTMENT IN WGI HEAVY MINERALS, INCORPORATED

TORONTO, Dec. 22 /CNW/ - Geosam Capital Inc. ("Geosam") announces that on December 22, 2010, Geosam Capital Inc. ("Geosam") acquired 430,000 shares of WGI Heavy Minerals, Incorporated ("WGI") at a weighted-average cost of $0.4312 per share, representing approximately 1.84% of the outstanding shares of WGI, bringing its total holdings in WGI to 620,000 shares representing approximately 2.65% of the outstanding shares of WGI.

The WGI shares held by Geosam, George Armoyan, the President of Geosam, and members of his immediate family with whom he resides, together total 2,375,845 shares, representing approximately 10.17% of the total outstanding shares of WGI.

The purchase of the shares by Geosam was made through the facilities of the Toronto Stock Exchange for investment purposes. Geosam may, from time to time, acquire additional shares or other securities of WGI, dispose of some or all of the existing or additional shares or other securities of WGI, or continue to hold shares or other securities of WGI in the normal course of Geosam's investment activities.

The issuance of this news release does not constitute an admission by Geosam that it is acting jointly or in concert with Mr. Armoyan and members of his immediate family with whom he resides with respect to shares of WGI.

For further information:

Garen Mikirditsian Vice President Geosam Capital Inc. TD Canada Trust Tower 161 Bay Street, Suite 2400 P.O.Box 217, Toronto, ON, M5J 2S1
Telephone:  Fax:	[phone] [phone]