Northern Vertex Appoints Gordon D. Ulrich as Director
Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 6, 2013) - Northern Vertex Mining Corp. (TSX VENTURE:NEE) (the "Company") is pleased to announce the appointment of Mr. Gordon D. Ulrich, B.A.Sc., MBA, P.Eng., as an independent member of the Board of Directors. With over 40 years' senior level experience in all facets of mine development, operations and executive leadership, Mr. Ulrich's distinguished career includes a period as President and Chief Executive Officer of Luscar Ltd., a major energy company (coal, oil and gas development), from 1990-2001.
Dick Whittington, Northern Vertex CEO, commented on Mr. Ulrich's appointment: "We are most pleased to have someone of Gordon's caliber join our Board. It has been my privilege to have worked with Gordon both as one of his VPs at Luscar and at Farallon Mining Ltd., where he served as a valued board member when I was CEO. Gordon's keen insight into technical mining operations as well as the business of mining will be invaluable to us as we move forward with our plans for the Moss Mine Gold-Silver Project."
Under Mr. Ulrich's leadership at Luscar, the company was successful with an Initial Public Offering of $500 million in 1996 to form the Luscar Coal Income Fund, in developing and opening two new coal mines and in doubling the company's revenues to $700 million. Mr. Ulrich has also been an independent director of a number of resource companies including: Farallon Mining Ltd., Blue Note Mining Inc., Forest Gate Resources Inc. and Messina Minerals Inc. He is an active community member, having served on a number of not for profit organizations. Currently, he is a member of the board of the Alberta Electric System Operator and serves on the Advisory Committee for Alternative Capital Financing reporting to the Treasury Board, Province of Alberta.
Mr. Ulrich is a Professional Engineer registered in the provinces of both Alberta and British Columbia and a life member in Alberta. He holds a B.A.Sc. in geological engineering and an M.B.A. from the University of British Columbia.
The Board of Directors of Northern Vertex Mining Corp. also includes Ken Berry, Chairman, Dick Whittington, Chief Executive Officer, James McDonald, Chief Executive Officer Kootenay Silver, Joe Bardswich, General Manager Moss Project, David Farrell, President Davisa Consulting and Mark Schnarr, President and CEO Alpha Technologies Ltd.
Subject to the approval of the TSX Venture Exchange, Northern Vertex will, under the Company's stock option plan, issue 200,000 incentive stock options to Mr. Ulrich, exercisable for a period of five years at a price of $0.85.
In other developments, the Company is continuing to respond to regulatory comments from staff at the British Columbia Securities Commission respecting its March 2013 Preliminary Economic Assessment ("PEA") which is in the process of being amended and restated in response to those comments. A news release summarizing the changes to the PEA will be released concurrently with conclusion of the review and comment process, the timing of which cannot be currently predicted.
About Northern Vertex: Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA. The Company has an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Moss Mine Gold-Silver Project is a potential heap leach, open pit project being advanced under a three phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Cautionary Note About Forward-Looking Information
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations
Cautionary Note to U.S. Investors
This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. Investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
