Cedar Mountain Exploration Inc. Appoints Corporate Secretary
CALGARY, ALBERTA – November 5, 2007 – Cedar Mountain Exploration Inc. ("Cedar Mountain" or the "Corporation") is pleased to announce that Craig Bentham has been appointed Corporate Secretary of the Corporation.
Mr. Bentham is currently a lawyer in private practice specializing in financing and commercial transactions and has previously been in private practice with mid-sized regional firms in Alberta and as the Director of Corporate Development for a venture capital firm.
He has extensive experience in advising mineral exploration issuers and is a director of Committee Bay Resources Ltd. (TSXV: CBR) since July 2002 and Indicator Minerals Inc. (TSXV: IME) since January 2004, both mineral exploration companies listed on the TSX Venture Exchange ("TSXV"). Mr. Bentham holds a Bachelor of Laws from the University of Alberta and is a member of the Law Society of Alberta.
Directors and Officers
After Mr. Bentham's appointment, Cedar Mountain's officers and directors consist of the following:
Charles Chebry, President, Chief Executive Officer and Director
Mr. Chebry is an independent business consultant. He has been the Chief Financial Officer and a Director of Kaminak Gold Corporation since April 2007, a mineral exploration company listed on the TSXV. Mr. Chebry was Chief Financial Officer, Vice President of Finance and a Director of Olympia Financial Group Inc. (TSXV:OLY), from March 1997 to December 2006 and remains a Director. He served as the Vice President-Finance, Chief Financial Officer and a Director of Olympia Trust Company from April 1999 to December 2006 and remains a Director. Mr. Chebry also served as the Vice President of Finance, Chief Financial Officer and a Director of Eyelogic Systems Inc. (TSXV:EYE.A), an automated eyesight testing company, from April 1998 to December 2006 and remains a Director. Mr. Chebry has been a Director of Committee Bay Resources Inc., (TSXV:CBR), since July 2002 and served as President and founder of its predecessor company Arta Enterprises Inc. from December 2000 to July 2002.
Mr. Chebry has a Bachelor of Science from the University of Alberta.
Sean Mager, Chief Financial Officer and Director
Mr. Mager, has spent more than fifteen years in private and public management and consulting. From 1998 to 2000, Mr. Mager was the VP Corporate Development for a TSXV listed logistics firm serving northern mining clients such as Billiton Limited's Ekati diamond mine and Cumberland Resources' Meadowbank gold project in northern Canada. Since 2000, he has applied his expertise in corporate affairs to the development and governance of a number of public junior mining and mineral exploration companies. Mr. Mager is a founder of the Discovery Group of Companies and he currently serves as Director and/or Chief Financial Officer for Committee Bay Resources Ltd., Brilliant Mining Corp., Indicator Minerals Inc., Grizzly Diamonds Inc. and Kaminak Gold Corporation, all of which are listed on the TSXV.
Mr. Mager has a Bachelor of Commerce from the University of Alberta.
John Robins, Director
Mr. Robins is a registered professional geologist based in Vancouver, BC, and has over 25 years of experience as an independent exploration geologist and entrepreneur. He is a principal in Hunter Exploration Group, a private exploration and venture capital group, and is one of the founders of the Discovery Group of Companies. Mr. Robins has been involved as an officer, director and founder of numerous public junior exploration companies in Canada.
Mr. Robins has a Bachelor of Science (Geological Sciences) from the University of British Columbia.
John Williamson, Director
Mr. Williamson is a professional geologist registered with the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA) and he is also a Fellow of the Geological Association of Canada. Mr. Williamson has 20 years of experience in conducting mineral exploration and development, mining, project management, property evaluations, geoscientific and environmental studies throughout Canada, South America, Russia and Western Australia. His exploration and production experience includes precious metals, base metals, diamonds and aggregate deposits.
Mr. Williamson has been President and Chief Executive Officer of Committee Bay Resources Ltd. since August 1998 and Chief Executive Officer of Brilliant Mining Corporation since January 2006, both mineral exploration companies listed on the TSXV. Mr. Williamson is also a director of several other publicly listed companies.
Mr. Williamson has a Bachelor of Science (Geology) from the University of Alberta.
Peter Kleespies, Director
Mr. Kleespies is a professional geologist registered with APEGGA and has 19 years experience in exploration geology for both precious and base metals in North and South America. He has worked for both junior and senior companies, including BHP Minerals Canada Limited, Metallic Resources and Miramar Mining Corporation on a broad range of exploration projects including the High Lake and Hope Bay Greenstone Belts in the Slave Province, Proterozoic aged greenstones both in Canada and Venezuela, and younger intrusion related deposits within poly-deformed carbonate terrains in Mexico and Canada. Most recently he was a Senior Exploration Geologist with Committee Bay Resources Ltd. and formerly managed exploration projects at Hope Bay for Miramar Mining Corporation.
Mr. Kleespies has a Bachelor of Science (Hon. Geology) and Master of Science (Geology) from the University of Alberta.
Initial Public Offering
Cedar Mountain recently completed its public offering of 4,000,000 common shares at a price of $0.40 per share raising gross proceeds of $1.6 million. PI Financial Corp. acted as agent in connection with the offering. In conjunction with the completion of the offering, PI Financial Corp. received a corporate finance fee of $25,000 plus GST, cash commission of 10% of the gross proceeds and an option to acquire up to 400,000 common shares of the Corporation at an exercise price of $0.40 per share for a period of 24 months from closing.
The net proceeds from Cedar Mountain's initial public offering will primarily be used to conduct exploration work on the Corporation's Cedar Creek Property, the development of new exploration properties, to fund general and administrative expenses and for general working capital.
About Cedar Mountain
The principal business of the Corporation is and has been since incorporation, the exploration and development of properties and deposits with the potential for gold in sediment hosted bulk tonnage type deposits, lode gold and/or base metal deposits. In addition to the exploration of its existing properties, the Corporation intends to seek and acquire additional properties worthy of exploration and development.
The Corporation's principal project is the Cedar Creek Property which is located 56 km northeast of Williams Lake and adjacent to Quesnel Lake at Likely, in south-central British Columbia. The Cedar Creek property consists of 1453 hectares of land located in the Cariboo region of south-central British Columbia.
Interest in the Cariboo region has recently increased due to the exploration work completed by Skygold Venture Ltd.'s adjacent Spanish Mountain Property.
Based on results from adjacent properties, favourable geology, and the presence of gold anomalies with coincidental geophysical anomalies, Cedar Mountain is exploring for gold in sediment hosted vein deposit types at the Cedar Creek Property.
Additional information about the Corporation can be found in Cedar Mountain's final prospectus dated July 13, 2007 which has been filed and is available on SEDAR (www.sedar.com), or at the company’s website: www.cedarmountainexp.com
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporation's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
For more information contact:
President and CEO
Cedar Mountain Exploration Inc.
Tel: (403) 454-1297
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.