Westcore Announces Initial Resource Evaluation at Black Diamond Coal Property

WESTCORE ENERGY LTD. (TSX VENTURE:WTR) ("Westcore" or the "Company") is pleased
to announce an initial coal resource evaluation from the first four drill
programs at the Black Diamond Coal Property ("Black Diamond") located near The
Pas, Manitoba. Black Diamond is jointly held by Westcore and Goldsource Mines
Inc., 75:25 respectively. 


The Black Diamond Coal Property resource evaluation (or the "Evaluation") was
completed by Heartstone Consulting Ltd. and was prepared in accordance with
Canadian Securities Administrators (CSA) National Instrument 43-101 - Standards
of Disclosure for Mineral Projects ("NI 43-101"). The lead author of the
Evaluation is Peter Graham, P.Geo., who is a "qualified person" within the
meaning of NI 43-101 and is independent of the Company. Mrs. Ellen MacNeill, P.
Geo., is a co-author of the Evaluation. The Evaluation has been filed on SEDAR
and is also available for download on the Company's website.


The Evaluation contemplates coal resources at the Discovery, Cyclops, Ambit,
Athena and Calypso deposits. These resources have been classified according to
the "CIM Standards on Mineral Resources and Reserves: Definitions and
Guidelines" (November 2010). Accordingly, the resources have been classified as
"Measured", "Indicated" and "Inferred".


Highlights:



--  Measured Tonnes: 40,616,000 
--  Indicated Tonnes: 9,428,000 
--  Total Waste Quantities vs. Measured and Indicated Tonnes of Coal Strip
    Ratio of 1.2:1 
--  Inferred Tonnes: 10,607,000 
--  Total Waste Quantities vs. Inferred Strip Ratio of 1.6:1 
--  Coal is ranked as subbituminous C



The foregoing resources are further additions to resources recently reported on
the Company's Panther Property (60% owned by Westcore), where the following
resources were recently announced in respect of the Company's Quasar Deposit
(for further details, please refer to the Company's news release dated October
29, 2012 and the corresponding filing of the NI 43-101 report on the Panther
property, which is available under the Company's corporate profile on SEDAR):




--  Measured Tonnes: 14,239,000 
--  Indicated Tonnes: 4,255,000 
--  Total Waste Quantities vs. Measured and Indicated Tonnes of Coal Strip
    Ratio of 1.5:1 
--  Inferred Tonnes: 9,130,000 
--  Total Waste Quantities vs. Inferred Strip Ratio of 1.6:1 
--  Coal is ranked as subbituminous C



Paul Conroy, President and CEO of Westcore, states "We are very pleased with the
initial evaluation of coal resources from Black Diamond. Estimates of
approximately two thirds of the overall tonnage in the Measured category and
strip ratios of these proportions provide further positive encouragement for the
potential mining of Black Diamond. These resource calculations, together with
the initial resources recently declared on our Panther Property, further firm up
the prospects of development of our area play. We are encouraged by these
results and excited at the prospect of further expanding on the coal resources
at Black Diamond and Panther with drilling on Luna and other untested targets in
future drilling programs."


The database used to generate the resources from Black Diamond consisted of 44
exploration holes, of which 32 were diamond drill holes and 12 were rotary drill
holes. Exploration holes were supplemented by airborne geophysical survey data.
Seam and overburden thickness isopach and seam structure contour maps were
manually generated from drill hole data on each deposit. Generated coal and
overburden contours were digitized and entered into a computer based polygonal
modelling program for volume determinations Coal seam volumes were computer
generated separately for Measured, Indicated and Inferred categories. Coal
tonnages were calculated by multiplying the coal volumes by 1.4 g/cc. Overburden
volumes were also computer generated separately for Measured, Indicated and
Inferred categories. Measured resources correspond to coal within 150 m of a
drill hole where the adjacent drill hole also intersected the same seam. The
fringe area outside the ring of drill holes and to the implied subcrop has been
assigned to the Measured, Indicated and Inferred categories on the following
basis: coal is assigned to the Measured category for the area 50 m outside the
ring of drill holes, Indicated Category for the ring from 50 to 100 m beyond the
ring of drill holes, and Inferred category for the area outside the 100 m ring
and the estimated subcrop line. Minimum coal thickness is 1.5 metres, coal
subcrop delineations were determined through geological interpretation of
airborne geophysical survey data supplemented by seam thickness and structure
contour mapping. 


Peter Graham, Professional Geologist, is the independent Qualified Person
pursuant to NI 43-101 who was responsible for the Evaluation and review of the
technical contents of this news release.


Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, the use of the net proceeds of the offering.
Although we believe that the expectations reflected in the forward-looking
information are reasonable, there can be no assurance that such expectations
will prove to be correct. We cannot guarantee future results, performance or
achievements. Consequently, there is no representation that the actual results
achieved will be the same, in whole or in part, as those set out in the
forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in Canada, the United States and
globally; industry conditions, governmental regulation, including environmental
regulation; unanticipated operating events or performance; failure to obtain
industry partner and other third party consents and approvals, if and when
required; the availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market volatility;
competition for, among other things, capital, skilled personnel and supplies;
changes in tax laws; and the other risk factors disclosed under our profile on
SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors
should not be construed as exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Westcore Energy Ltd.
Paul Conroy
President and Chief Executive Officer
(306) 649-0600
www.westcoreenergy.ca
Westcore Energy (TSXV:WTR)
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