Cedar Mountain Exploration Announces Changes To Management Team
Vancouver, British Columbia - Cedar Mountain Exploration Inc. (CED: TSX-V) (“Cedar Mountain” or the "Company") is pleased to announce that the Company has appointed Dean Besserer to the position of Vice President of Exploration and Dale Hansen to Chief Financial Officer.
"On behalf of the existing members of the Company, I would like to welcome Mr. Besserer and Mr. Hansen to the Cedar Mountain management team. We look forward to their contributions at this exciting time as we advance the recently acquired Graphite Creek Project in Alaska, USA”, stated Charles Chebry, President and Chief Executive Officer of Cedar Mountain.
Mr. Besserer, a graduate of the University of Western Ontario (1995), and has been a geological consultant since 1995. Mr. Besserer is a former Principal of APEX Geoscience Ltd., a geological consulting firm with offices in Canada and Australia. Mr. Besserer is a director of Brilliant Resources Inc. (BLT: TSXV) and Sentosa Mining Ltd. (SEO: ASX). His industry experience includes mineral exploration and property evaluations in Canada, Australia, Russia, South East Asia, South America and Africa for numerous major and junior mining companies. Mr. Besserer has managed exploration programs with annual exploration budgets in excess of $10 million. Mr. Besserer is a member of The Association of Professional Engineers, Geologists and Geophysicists of Alberta, and the Australian Institute of Geoscientists.
Mr. Hansen has over 20 years experience in the bitumen mining and oil & gas industry and has worked for a number of Canadian and International based Energy Resource companies including Suncor Energy Inc. and Koch Exploration Canada Ltd. Mr. Hansen is the Chief Financial Officer and Director of Argonaut Exploration Inc. (AGA: TSX-V) as well as Chief Financial Officer of Happy Creek Minerals Ltd. (HPY: TSX-V). Mr. Hansen has a proven track record at all levels of management in the Resource Industry and is a Certified Management Accountant.
The Company also announces the resignation of Mr. Sean Mager as Chief Financial Officer effective as of February 1st, 2012. Mr. Mager will continue to maintain a position on the board of directors. “We would like to thank Sean for his outstanding service and contributions to our management team, and I am pleased to be able to continue to work with Sean as a fellow director for Cedar Mountain” stated Charles Chebry, President and Chief Executive Officer of Cedar Mountain Exploration.
About Graphite Creek
The Graphite Creek project is an approximately 1,375 hectare property on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Graphite Creek is characterized by an immense scale, large-flake high-grade graphite deposit. Graphite mineralization is exposed at surface and primarily hosted by a garnet biotite quartz schist interval. The coarse crystalline flake graphite occurs as disseminations and high-grade segregations and lenses in the distinctive garnet-bearing schist. The host garnet-bearing schist interval is continuous over 5 kilometres of strike length, has an approximate thickness of 100 metres, and is exposed over dip lengths of 100 to 200 metres thus indicating the potential for 150 to 250 million tonnes of graphite-bearing rock. The estimate of potential deposit tonnage is based on the Company’s geological mapping in 2011. Four 2011 samples of the garnet-bearing schist contain 9.1 to 21.8% graphite. Sampling of high grade lenses within the garnet-bearing schist contains up to 56.9% graphite. A historical composite chip sample across a 16-m outcrop of garnet-bearing schist contained 8.36% graphite. Other schists in the area contain 2 to 6% disseminated graphite. The potential size and grade of the Graphite Creek deposit is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource. The property is 3 kilometres away from intertidal waters at Windy Cove, approximately 20 kilometres away from road systems, and 3 kilometres from an airstrip to the east.
About Cedar Mountain Exploration Inc.
CEDAR MOUNTAIN EXPLORATION INC. (CED: TSX-V) is a mineral exploration company with a clear and distinct business strategy to identify, acquire, and explore high potential projects ready for rapid advancement. The Graphite Creek Property on the Seward Peninsula of Alaska fits with the Cedar Mountain business strategy offering significant potential for the discovery of large-flake, high-grade graphite exposed at surface. Cedar Mountain has an option to earn a 100% interest in the Graphite Creek project and plans to rapidly advance the property to a NI 43-101 compliant resource.
The graphite market is only beginning to open up as green technology takes more precedence in the world today. Graphite is vital for lithium-ion batteries, pebble bed nuclear reactors, and fuel cells amongst other uses. Graphite has been named a “supply critical mineral” and a “strategic mineral” by the USA and European Union as more demand is being created that surpasses the supply threshold. This has allowed for the price of graphite to rise, as over the past 7 years the price has nearly tripled. Graphite is the mineral of tomorrow and as such, cannot continue to be overlooked and undervalued.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Tel: (403) 283-0001
For more information on Cedar Mountain Exploration Inc. please visit the Company’s website
www.cedarmountainexp.com or contact:
VP Business Development & Director
Tel: (604) 697-2862
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com