WCB Resources Ltd. Releases Red Hill Soil Sampling Results

TSX-V: WCB

VANCOUVER, Oct. 29 /CNW/ - On August 23, 2010, WCB Resources Ltd ("WCB") (WCB - TSX.V) announced that it has entered into an Option Agreement with Elephant Mines Pty Ltd ("Elephant") whereby WCB can acquire up to 100% of Elephant's 100% owned interest in the Red Hill copper gold project in central New South Wales, Australia.

Central New South Wales was targeted for reappraisal as it is host to significant world class Cu - Au projects including the Cadia Complex (Newcrest Mining Ltd), the North Parkes Complex (Rio Tinto Ltd) and the Lake Cowal Complex (Barrick Gold Ltd). As well as these world class deposits there are numerous other deposits of Cu and Au all spatially related to fractionated magnetic complex's interpreted as intrusive systems. All of these systems have well developed magnetic signatures with associated geochemistry. Examples of these systems include the Browns Creek Cu Au skarn, the Lucky Draw Au skarn and the Burraga Cu skarn.

Historically the area has received a variety of previous exploration primarily targeting a VMS style of mineralisation. Field work however has interpreted the alteration at Red Hill to be more typical of intrusive related systems and in particular skarn type alteration/mineralisation. The significance of this is that this style of system has potential for well developed depth extensions and the geological targeting for this style mineralisation has different criteria which have not been previously tested.

A soil sampling program was immediately initiated which resulted in the collection of a total of 913 samples on a staggered grid pattern. Sampling procedure resulted in the collection of in excess of 200 grams of basal B/C horizon material which was sent for multi element analysis.

Analysis of the results indicate well developed coherent high order Cu and Au anomaly. The Cu/Au anomalism forms a central core (Cu to 1020ppm / Au to 5.61ppm) which is surrounded to the east by a high order Zn anomaly (Zn to 1790ppm) and Pb anomaly (up to 5420). Mo (up to 17ppm) and Bi (up to 67ppm) form a scattered pattern throughout the system.

To view the soil samples with Cu populations (ppm) displayed on magnetic TMI data, please click on the following link:

http://files.newswire.ca/903/soil-samples-Cu.bmp

Soil samples with Cu populations (ppm) displayed on magnetic TMI data

The dimensions of the central Cu/Au anomaly are 300m by 150m with the Zn Pb anomalism forming a peripheral marginal enveloping zone over 1000m in strike and 200m wide. Importantly, the Cu Au anomalism is coincident with the largest magnetic high anomaly developed in the area.

To view the soil samples with Au populations (ppm) displayed on magnetic TMI data, please click on the following link:

http://files.newswire.ca/903/soil-samples-Au.bmp

Soil samples with Au populations displayed on magnetic TMI data

To view the soil samples with Au populations (ppm) displayed on magnetic TMI data, please click on the following link:

http://files.newswire.ca/903/soil-samples-Zn.bmp

Soil samples with Zn populations displayed on magnetic TMI data

Interpretation of this data clearly demonstrates the concept of the intrusive related zoned hydrothermal system with a central core region of Cu and Au surrounded by a peripheral zone of elevated Zn Pb Ag and minor Au.

Surface alteration of the steeply dipping volcanic sequence suggest alteration mineralogy typical of a skarn hydrothermal system. The surface spatial association of disseminated magnetite chlorite and minor garnet with secondary Cu support this concept. These systems may have significant depth extent.

This initial work confirms the high order Cu and Au anomaly. The Company's next steps will be to further understand the area's geology prior to testing the system's depth. Further work on this project prior to drill testing will include:

    
    -   magnetic depth and character modelling of the magnetic high;
    -   detailed surface geological mapping to include the surface
        geomorphology; and
    -   detailed previous history research focussed on previous drill
        results.

    About WCB Resources
    -------------------
    

WCB Resources is a minerals exploration and development company that brings together a strong, interdisciplinary, and proven management team with the ability to take a project from discovery right through to operation. The Company was listed in April 2010.

WCB's strategy is to build shareholder value through acquisition, exploration and development of copper gold projects. This strategy is being developed by a synthesis of WCB's core skills in project evaluation, structured acquisition, exploration and project development and operations, areas where WCB directors and executives have significant experience.

We believe that our capabilities and experience, combined with an efficient corporate structure, provide tremendous potential upside for investors. WCB Resources is engaged in an ongoing search and evaluation of additional copper gold projects in various regions around the world.

Mr. Cameron Switzer, BSc (Hons), MAIG MAUSIMM, President and Chief Executive Officer of WCB Resources, is a qualified person as defined by National Instrument 43-101. He will be responsible for quality control of exploration undertaken by WCB. Mr. Switzer has reviewed and approved the technical information in this release.

On behalf of the Board of Directors

Cameron Switzer

President and Chief Executive Officer

WCB Resources Ltd.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

%SEDAR: 00025641E

For further information: Shaun Maskerine, Email: [email protected]; Duncan Cornish, Email: [email protected]