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Re: News Releases - Tuesday, September 08, 2009
Copper Ridge Appoints New Board; Closes $3 Million Financing
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Vancouver, British Columbia, September 8, 2009: Copper Ridge
Explorations Inc. (TSX-V: KRX) (the "Company") announces that it has
closed the $3,000,000 financing by Platoro West Holdings Inc.
("Platoro") (CNSX: PWH) announced May 29, 2009 and appointed three new
board members: William M. Sheriff, John W. Legg and Daniel T. Farrell.
Mr. Sheriff, a director of Platoro, has over 30 years experience in the
mineral exploration and development business. Mr. Sheriff currently
serves as Executive Chairman and CEO of Golden Predator Royalty &
Development Corp. Chairman of EMC Metals Corp. and as a director and in
certain cases non-executive chairman of several other public and
private companies. Mr. Sheriff co-founded and served as Director and
Chairman of Energy Metals Corporation, which was listed on NYSE Arca
and the TSX and which was acquired by Uranium One Inc. in 2007 for $1.8
billion. Mr. Sheriff received his B.Sc. in Geology from Fort Lewis
College, Colorado and conducted graduate studies at the University of
Texas-El Paso in Mining Geology and Mineral Economics. Mr. Sheriff has
also been appointed non-executive Chairman of the Company.
Mr. Farrell has 30 years experience in the natural resource sector and
the financial services industry. Mr. Farrell was the co-founder, CEO
and President of Quincy Energy Corp, a uranium exploration company
which was acquired by Energy Metals in 2006 for approximately
$65,000,000. Mr. Farrell later founded and funded Zacoro Metals Corp.,
which identified and developed a large polymetallic orebody in
Zacatecas State, Mexico later acquired by Aura Minerals Inc. Mr.
Farrell currently serves as Platoro's CEO as well as a director. Mr
Farrell holds a B.Sc. in Geology from Michigan Technological
University. Mr. Farrell has also been appointed Vice-President
Corporate Development for the Company.
Mr. Legg, also a director of Platoro, is a lawyer with 15 years
experience advising companies in natural resources, securities and
corporate finance law. Mr. Legg currently serves as Executive
Vice-President and General Counsel of Golden Predator. Mr. Legg, a
member of the Law Society of British Columbia, holds a BA from the
University of British Columbia and an LLB from Dalhousie Law School.
The Company issued 100,000,000 common shares (the "Shares") in the
financing at a price of $0.03 per Share for gross proceeds to the
Company of $3,000,000. All the shares issued are subject to a hold
period expiring on January 5, 2010.
The Company plans to use the proceeds from the financing to advance its
portfolio of base metal projects. A ground geophysical survey,
including Induced Polarization ("IP") and gravity, has just been
completed on the Company's Clear Lake zinc-lead-silver property located
in the Yukon Territory.
The Company is working to confirm a NI 43-101 compliant resource
calculation for the deposit, which will include re-sampling core
samples of previous operators, and additional drilling as warranted.
Drilling will also test the highest priority drill targets as defined
by the 2008 VTEM airborne geophysical survey and the 2009 IP and
gravity surveys. Surface exploration is planned for the Company's
Babine porphyry copper-gold-molybdenum property, in central B.C. and
drilling is planned for the Company's Lucky Joe copper-gold property,
located in the Yukon Territory and under option to Taipan Capital Corp.
Messrs Sheriff, Legg and Farrell replace Mark Fields, Gordon Fretwell
and Alan Savage on the Company's board of directors. Mr. Fields and Mr.
Fretwell have been directors of Copper Ridge since 1999, and Mr. Savage
since 2004. The Company thanks these gentlemen for their guidance,
support and contributions to the development of the Company.
Contact:
Gerald G. Carlson, President & CEO
Suite 500 -- 625 Howe Street
Vancouver, B.C. V6C 2T6
Phone: 604-688-0833; 1-888-278-2288
info@copper-ridge.com
TSX Venture Exchange -- KRX
Pink Sheets -- CRXOF
Berlin -- 502845
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
This press release contains projections and forward-looking information
that involve various risks and uncertainties regarding future events.
Such forward-looking information can include without limitation
statements based on current expectations involving a number of risks
and uncertainties and are not guarantees of future performance. There
are numerous risks and uncertainties that could cause actual results
and Copper Ridges' plans and objectives to differ materially from those
expressed in the forward-looking information. Actual results and future
events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the
dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Copper Ridge assumes no
obligation to update forward-looking information should circumstances
or management's estimates or opinions change.
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Copyright (c) 2009 COPPER RIDGE EXPLORATIONS INC. (KRX) All rights
reserved. For more information visit our website at
http://www.copper-ridge.com/ or send mailto:info@copper-ridge.com
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Copper Ridge is a copper producing company based in Canada. Copper Ridge produces copper, gold and silver in Mexico, and holds various exploration projects in Canada and in Mexico. Its main asset in production is GAVILANES in Mexico and its main exploration properties are KALZAS, DUKE ISLAND, BABINE, GOLD DOME, BOREALIS, COPPER ACE, JOSS'ALUN, LUCKY JOE, YUKON OLYMPIC, OGOPOGO, WILLOUGHBY, CLEAR LAKE, HART RIVER CLAIMS, LUCKY JOE AND SHAMROCK and ASH, B AND TAR CLAIMS in Canada. |