VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 24, 2014) - Graphite One Resources Inc. (TSX VENTURE:GPH)(GPHOF) ("Graphite One" or the "Company") is pleased to appoint Mr. David Hembree as its new US-based Operations Manager. Having played a pivotal role in advancing the development of several discoveries in the past, Mr. Hembree will be instrumental in progressing Graphite Creek through the resource definition, project feasibility analysis, environmental baseline studies and permitting process.
Mr. Hembree brings over 35 years of experience in the mineral resource industry including experience in exploration, development and production of both open pit and underground operations. Prior to joining Graphite One, Mr. Hembree held the position of Vice President of Exploration and Qualified Person with Kimber Resources Inc., where he was instrumental in the sale of their Monterde gold-silver deposit in Mexico. Previously he was US Exploration Manager and Q.P. for Golden Predator Mines US. Mr. Hembree has also worked as Chief Geologist at the open pit operations of Mineral Ridge Resources and Mt. Hamilton Mining Co. as well as US Exploration manager for Queenstake Resources USA. He holds a B.Sc. degree in Geology from Fort Lewis College in Durango, Colorado, is a Certified Professional Geologist with the A.I.P.G. and is a Registered Geologist in the State of Oregon. Mr. Hembree will act as the Qualified Person for Graphite One under NI 43-101.
"I am very pleased to join Graphite One and to be a part of the team that moves the Graphite Creek project from the exploration stage through the next logical step of resource definition and project feasibility analysis. The Graphite Creek property has many positive aspects including a large inferred resource base to build on with strong geophysical anomalies and widely spaced drill intercepts along 4.8 km of strike length to help guide the next round of resource definition drilling," states Mr. Hembree.
About Graphite Creek
The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometres north (40 miles) of Nome, the locus of mining and exploration in the region since 1900. The U.S. Government is studying options for construction of a deep sea port in the Nome-Teller area to advance the development of the region.
Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80 mesh) within graphite-bearing schist. Please refer to the January 20, 2014 press release where Graphite One reports a NI 43-101 inferred resource of 284.71 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite).
About Graphite One
Graphite One Resources Inc. is exploring with the intent to develop the Graphite Creek Project, the USA's only advanced staged large-scale, large flake graphite deposit. Graphite Creek reports a NI 43-101 inferred resource of 284.71 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite). For more information please see www.graphiteoneresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Anthony Huston
For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com.
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 to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, 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. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
The mineral resource estimates reported in this press release were prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in the classification of mineralization. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty 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 securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.