TSX-V: WLR
Frankfurt: 6YL
VANCOUVER, BC, May 4, 2026 /CNW/ - Walker Lane Resources Ltd. (TSXV: WLR) (Frankfurt: 6YL) (the "Company") announces that it has changed its auditor from Manning Elliott, LLP, (the "Former Auditor") to Davidson & Company LLP (the "Successor Auditor"). The audit committee of the Company (the "Audit Committee") recommended that the Company change its auditor from Manning Elliott LLP (the "Former Auditor") to Davidson & Company LLP (the "Successor Auditor"). The Company and the Former Auditor both mutually agreed to part ways.
The Board of Directors considered the recommendation of the Audit Committee and appointed the Successor Auditor as the auditor of the Company, effective as of April 14, 2026, to hold office until the next annual meeting of shareholders of the Company. There were no reservations, modified opinions or reportable events (as defined in National Instrument 51-102) in connection with each of the Former Auditor's audit of the Company which occurred prior to their resignation as auditors of the Company; and the Notice of Change of Auditor was approved by the Company's board of directors.
In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR+.
Walker Lane Resources has received written notice from Coeur Mining that Coeur intends to terminate the Silverknife Property Option Agreement as of May 24, 2026. The termination of the Silverknife Option reflects Coeur's renewed focus on the Silvertip Mine itself.
"On behalf of Walker Lane, I would like to thank Coeur and the Coeur Silvertip team for the high quality of work that was conducted at Silverknife and we wish them the best in their progress at Silvertip," stated Kevin Brewer, President and CEO. "Coeur's work included a property wise airborne radiometric and electromagnetic survey that served to verify large zones of exploration prospectivity and also completed a LIDAR survey that has many practical uses for project planning and implementation."
Coeur completed 1,827.5 meters of drilling in the Silverknife Central Zone in 2024, largely testing possible fault structures within that zone and attempts to extend the strike length of previously identified CRD mineralization within prospective stratigraphy. Highlights of drilling results in the Silverknife Central Zone include:
- Hole 85-4 - 7.25 m of 156.3 g/t Ag, 2.65% Pb, and 3.09% Zn
- Hole 85-6 - 0.2 m of 137.4 g/t Ag, 1.9% Pb and 3.42% Zn
- Hole 85-21 - 4.3 m of 899.9 g/t Ag, 10.14% Pb and 7.02% Zn
- Hole 87-35 - 18.02 m of 129.3 g/t Ag, 1.67% Pb and 3.02% Zn
- Hole 87-38 - 9.99 m of 166.2 g/t Ag, 1.73% Pb and 3.15% Zn
- Hole 87-39 - 4.63 m of 98.6 g/t Ag, 4.60% Pb and 3.97% Zn
- Hole 87-40 - 5.94 m of 192.3 g/t Ag, 3.47% Pb and 3.65% Zn
- Hole 87-43 - 8.00 m of 63.6. g/t Ag, 1.59% Pb and 4.85% Zn
- Hole 87-44 - 3.66 m of 233.2 g/t Ag, 6.21% Pb and 4.78% Zn
In 2023, Walker Lane also had a successful drill program and on March 20, 2024 announced work summarizing the vast potential of the property in four large zones of exploration prospectivity and on April 15, 2024 release drill hole results from the 2023 drilling of which 6 of 9 holes intersected CRD mineralization.
Management is of the belief that the Silverknife Property is highly prospective for Carbonate Replacement Deposit (CRD) style mineralization. Coeur's 2024 and 2025 programs helped to further define the prospectivity of the area that is immediately proximal to Silvertip's Silvertip Mine Property.
The presence of a CRD system is evidenced by diagnostic features noted at Silvertip and elsewhere in the world including fugitive calcite veining that fluoresces in UV light (displaying the classic "barbeque" pink and orange fluorescence), re-crystallization of the host limestones, disseminated pyrite – sphalerite and galena sulphide and derived oxide mineralization. These are all evident features found on the Silverknife property within outcrops.
Management's next steps are to incorporate the data from Coeur's work and data from Walker Lane's programs to derive vectors to target drilling and prepare for a permit application to advance work in the Tootsee North and Silverknife Central Zones.
Walker Lane retains a 100% ownership interest in the Silverknife Property, north-central British Columbia.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance its projects through drilling programs with the aim of achieving resource definition in the near future.
For more information, please consult the Company's filings, available at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Kevin Brewer
President, CEO and Director
Walker Lane Resources Ltd.
Cautionary and Forward Looking Statements
This press release and related figures and/or tables, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plans", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" "targeted", "can", "anticipates", "intends", "likely", "should", "could" or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX: CDE). These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon.
SOURCE Walker Lane Resources Ltd
For Further Information and Investor Inquiries: Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng., Tel: (709) 327 8013, Email: kbrewer80@hotmail.com, Address: Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
