VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2011) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES.
Cedar Mountain Exploration Inc. ("Cedar") (News - Market indicators) ("Cedar Mountain" or the "Company") is pleased to announce today the appointment of Mr. Anthony Huston as a Director of the Company. Also, effective April 27, 2011, Mr. John Robins has stepped down as Director and will remain on the advisory board.
Mr. Huston has a background in management and finance having served as a Managing Partner with both public and private companies where he recently played an integral role in raising over $20M. Mr. Huston acted as lead financial advisor on a range of finance and acquisition transactions in many industry sectors including technology, bio-tech, and most recently the resource sector. He holds a Bachelor of Commerce degree from the University of British Columbia.
"Anthony will be an excellent addition to our Board offering his expertise in finance and corporate development as we continue to build the Company's assets," stated Charles Chebry, President and CEO.
The Company would like to thank Mr. Robins for his time and dedication to the growth of Cedar Mountain Exploration since its inception and is pleased to have him remain as an advisor to the Company.
"I remain committed to the future success of the Company and look forward to my continued involvement in my new role as a member of the advisory board," said John Robins.
The Board has approved the grant of 1,500,000 incentive stock options, exercisable at CDN$0.27 per share over a five-year period of which 1,100,000 are issued to Directors and Officers. These options will vest immediately.
THE PROPERTY
The Kelly Creek Property is located on the Seward Peninsula, Alaska, 145 km north of Nome. Kelly Creek is a drill-permitted early-stage gold exploration property comprising 105,280 acres (42,605 hectares) that cover an entirely new gold district. Historic results indicate the presence of disseminated gold deposits in metasedimentary rocks. These deposits have similarities to disseminated gold deposits in Nevada and are a new type for the Alaskan region. For an overview of the current Kelly Creek Project status please see the Cedar Mountain press release dated January 25th, 2011.
CEDAR MOUNTAIN EXPLORATION INC. (News - Market indicators) 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 flagship Kelly Creek Property on the Seward Peninsula of Alaska fits with the Cedar Mountain business strategy and demonstrates substantial potential for major gold discoveries. Cedar Mountain is a member of the Discovery Group of Companies: www.discoveryexp.com.
ON BEHALF OF THE BOARD
Charles Chebry, Chief Executive Officer
For more information on Cedar Mountain Exploration Inc., please visit the Company's website: www.cedarmountainexp.com.
