Xplore is pleased to welcome Mr. Picklu Datta, CPA, CA, BComm., and Mr. Sean Waller P.Eng., FCIM to the Company's Board of Directors. The Company also announces that Mr. McGuire has resigned as a Director, and is transitioning to the Company's Advisory Board. All changes are effective immediately.
Mr. Datta is a mining executive with 30 years of experience in senior management roles including accounting, audit, taxation, treasury, forecasting and budgeting and risk management. He was formerly Vice-President, Finance & Treasurer at Centerra Gold Inc.; Senior Vice-President, Treasury & Finance at Agnico Eagle Mines Limited; and Finance Manager at Aber Diamond Corporation. In his previous roles, Picklu helped to guide these companies during periods of transformational growth, both organically through mine development and through acquisitions. Mr. Datta obtained a Bachelor of Commerce from the University of Toronto and holds CA and CPA designations from the Chartered Professional Accountants of Ontario.
Mr. Waller is a registered Professional Engineer with 35 years of international experience in mining project management, evaluation, design and operation, with a specific focus on large scale copper and gold projects. Currently Mr. Waller is a Senior Project Advisor with Wood Mining and Minerals (previously AMEC), a division of Wood PLC, a global engineering and construction firm. Mr. Waller is a Director and Technical Advisor to several small cap resource companies. Previously he was Vice President of Global Business Development and Senior Project Manager with AMEC. While at AMEC, Mr. Waller managed the feasibility study for Nevsun Resources' Bisha gold/copper mine in Eritrea and the front-end engineering for the Cobre Panama copper mine in Panama. Earlier in his career Mr. Waller worked with SNC-Lavalin's Mining Division in senior technical roles and for Freeport-McMoran at its Grasberg copper operation in Indonesia. Mr. Waller is a Past President of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") and is currently a member of the CIM Audit and Risk Committee. He has previously served as a Trustee of the CIM Foundation and is a volunteer and/or fundraiser with several community organizations. Mr. Waller has a B.Sc. in Geology from the University of British Columbia in Vancouver and a Masters Degree in Mineral Process Engineering from The Montana School of Mines in Montana.
Wes Hanson, President and CEO of Xplore, stated, "We are very happy to welcome Picklu and Sean to the Xplore Board of Directors. Collectively, these additions significantly upgrade the Company's knowledge base in several critical areas, including finance, capital markets, engineering, metallurgy, management and project development. I look forward to working closely with both Picklu and Sean as we begin the process of generating shareholder value through acquisition, exploration and development of copper and gold properties in Canada and abroad. Picklu's financial insight and capital markets network will be invaluable as we evaluate various opportunities. Sean's engineering, management and operational experience will significantly assist the Board in evaluating the technical merits of various opportunities, particularly any advanced projects. I am very excited to have the opportunity to work closely with our newest team members as we begin the process of growing shareholder value."
The Company also announces the granting of 2,000,000 incentive stock options under the Company's stock option plan to directors, officers, employees and consultants, at an exercise price of $0.10. A total of 1,700,000 of the options expire three (3) years from the date of grant, and 300,000 options expire after one year.
About the Valk Project
Xplore's 100% owned Valk copper-gold project (1,614 Ha) is located in the Nanaimo Mining Division, British Columbia, approximately 20 Km NW of Port Hardy. The Project is road accessible via an extensive network of provincial highways, local roads, and logging roads. Soil geochemistry and surface rock sampling have identified anomalous copper, vanadium, and gold mineralization within rocks of the Karmutsen Formation. Valk is located 25 km north of the former Island Copper Mine (reported historical production 367 Mt @ 0.33% Cu - Ref. BC Minfile 092L 158) and the North Island Copper and Gold Project (Indicated resource of 304 Mt @ 0.21% Cu - Ref. BC Minfile 092L 240).
Mr. Wes Hanson, P. Geo., President & CEO of Xplore and registered in the Provinces of Ontario is the "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
Xplore Resources is a Toronto based mining exploration company listed on the TSX Venture Exchange under symbol XPLR and is focused on the acquisition and development of copper and gold projects in the Americas. The Company is led by an experienced management team with executive and senior management experience in exploration, development, operations and mergers and acquisitions.
For additional information, please visit the Company's website at www.xploreresources.com
ON BEHALF OF THE BOARD
"Wesley C. Hanson"
President & CEO
For further information, please contact:
Phone: +1 647-362-9675
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ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
Notice on forward-looking statements:
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Xplore cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Xplore's control. Such factors include, among other things: risks and uncertainties relating to Xplore's ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Xplore on SEDAR.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Xplore undertakes no obligation to publicly update or revise forward-looking information.
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