W Resources Tungsten Drilling Update - La Parrilla IP07, IP08 and IP09

W Resources, the tungsten and gold exploration and development company, announces the latest update on drilling at its La Parrilla tungsten project, located in southwest Spain, in which it has an exclusive option to purchase a 100% interest.

Drilling of the extension of the La Parrilla ore body is now complete, drill re sults are being progressively received and W expects to complete the compilation of a new JORC compliant resource estimate in the second quarter of 2013.

Assay results have been confirmed for core Holes 7, 8 and 9 of the extended La Parrilla drilling programme. Key highlights include 8 metres at 0.29% Tungsten Trioxide (WO3) in hole 9, three times the average grade of the current La Parrilla resource in hole 9. Holes 7, 8 and 9 were drilled to final depths of

200.0m, 200.0m and 250.50m and are located 640m, 470m and 200m, respectively, to the northwest of the main ore body and continue the series of strong results from the extension drilling programme.

Chairman of W, Michael Masterman, commented: "The Board continues to be encouraged by the results on the extension drilling programme, with the process of further delineating a more significant increase in both the grade and tonnage of the resource at La Parrilla nearing completion. Drilling has been completed on budget and on schedule and we expect positive results from the re-estimation of the resources incorporating these results.

With the final approval for the La Parrilla tailings project granted by the Mining Department of the regional authority of the Junta de Extremadura, (announced 22 January) the Company is making good progress towards first production in H2 2013.

W has completed 11 holes on its drilling programme with assays received on holes 1-9.

The weighted average grades have been calculated for intersections through mineralised envelopes defined by quartz veining an d no cut off grade has been used.

About La Parrilla

The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of Caceres- Badajoz, approximately 310 km southwest of Madrid. The site is accessed directly from the highway along a 3km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The historic mine resource estimated by SRK in 2008 is 36.0m tonnes at 0.09% WO3, making it one of the largest tungsten deposits in the western world.

The technical design of the La Parrilla tailings project has now been finalised and the final approval has been granted by the Mining Department of the regional authority of the Junta de Extremadura. Annual plant feed will be 330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn), which will deliver over €7million per annum in revenue at current tungsten and tin prices. The tailings project is expected to be in production in H2 2013.

The price of tungsten has increased rapidly over the last 3 years by more than double. The La Parrilla tailings deposit and tungsten mine development offer a low cost, high margin resource development opportunity for W Resources.

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