ROUYN-NORANDA, CANADA--(Marketwired - Jul 2, 2013) - Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(EXSFF)(E1H.F)(E1H.BE) is pleased to announce the appointment of Mr. Jonathan Challis to the Board effective July 2nd, 2013.
Mr. Challis is a mining engineer with over 30 years of experience in the operation, management, financing and analysis of mining projects around the world. Mr. Challis started his professional life as a mining Engineer with Gold Fields of South Africa Limited in 1974 before returning to Europe where he worked as a mining analyst and project financier for several European Institutions. He subsequently joined McLeod Young Weir in London in 1987 as a mining analyst prior to relocating to Toronto in 1990. In 1994, he joined CM Oliver in Toronto as a Director and Senior Mining Analyst, prior to moving back to London where he was instrumental in establishing a European presence for that company. In 1997, he joined Ivanhoe Capital Corporation and was involved in several Canadian resources companies in the roles of CEO, President and director. Mr. Challis is currently a Director and CEO of SEAM Ltd., a private UK based mineral exploration company active in Eastern Africa. Mr. Challis is currently a Director of South East African Mining Ltd., Rye Patch Gold Corp, West African Iron Ore, Quartet Mining Ltd. and Goldfield Empires Ltd. He is also on the advisory board of Elephant Copper, Sono Resources and EISEB Resources. Previously, he was a Director of Peregrine Diamonds Ltd.; Peregrine Metals Ltd. and Sunward Resources Ltd.
Mr. Challis has an honours degree in Mineral Exploitation from University College, Cardiff and an MBA degree from Cranfield University. He has both the South African Metalliferous Mine Captain's and Mine Manager's Certificates of Competency. He is a Fellow of the Institution of Materials, Minerals and Mining (UK) and a Chartered Engineer.
Pursuant to the Corporation's stock option plan, the Board of Explor has granted 500,000 incentive stock options to Mr. Challis exercisable at a price of $0.10 for a period of five years. The appointment of Mr. Challis is subject to the approval of the TSX Venture Exchange.
Mr. Challis will act as an independent Director and represent Explor to our European shareholders and as well act as an advisor to the President and CEO. The existing Board would like to welcome Mr. Challis and trust that his skills and experience will move Explor to the next level.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).
This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. The TPW mineral resource (Press Release dated April 16, 2013) includes the following:
|Open Pit Mineral Resources:|
|Indicated:||74,000 oz (1,248,000 tonnes at 1.85 g/t Au)|
|Inferred:||186,000 oz (2,502,000 tonnes at 2.31 g/t Au)|
|Underground Mineral Resources:|
|Indicated:||224,000 oz (1,758,000 tonnes at 3.96 g/t Au)|
|Inferred:||594,000 oz (6,145,000 tonnes at 3.01 g/t Au)|
This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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