Xemplar Energy
December 3, 2008
William J. Harley III Joins Xemplar Board And Is Appointed President
Vancouver, November 11 2008 - The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R,
Namibia: XEM) ("Xemplar" or the
"Company") is pleased to announce that effective immediately, William
J. (Mickey) Harley III has joined the Company's Board of Directors and as its
President.
Peter Koep stands down as interim President to
facilitate this new appointment and will continue to serve as Director of Xemplar. The Board is extremely grateful to Mr. Koep for being prepared to hold the reins after our
previous President was forced to stand down for medical reasons.
Mr. Harley, a graduate of Yale School of Management (Masters in Public
and Private Management), is the founder, CEO, President and Senior Portfolio
Manager of Fursa Alternative Strategies ("Fursa"), a New York-based hedge fund that controls
19.9% of the 119.6 million common shares of Xemplar. Mr.
Harley is responsible for all phases of Fursa company
management including organizational structure, investment processes (including
but not limited to organization, deal screening, due diligence, structuring,
execution, monitoring, and realization of investments), hedging and risk
management, marketing strategies, investor relations, budgeting and financial
monitoring, and strategic direction. He has grown Fursa
to approximately $1.5 billion in assets under management, and over 50 personnel
including 30 investment professionals located in New York, London, Hong Kong
and Mumbai. He is an experienced global investor, with strong contacts and
interest in North America, South and Central America, the Caribbean, Western
and Easter Europe, Central Asia, Asia, and the Middle East. Mr. Harley has
served as a Board of Director of public and private companies, including
Metromedia International Group, Inc., Integral Systems, Inc., Coastal Greenland
Limited, JL French, Frederick's of Hollywood, and Interboro
Insurance Company, Strix, LLC, and Seitel Corporation.
Xemplar's Board of
Directors believes Mr. Harley's experience in the capital markets, sound
business background, and global business associations will be of considerable
value in developing its Namibian assets to their full potential and building
shareholder value. He will join Mr. Simon Tam, Chief Executive Officer in
providing strategic, corporate, operational and financial direction and the
day-to-day tactical management of Xemplar.
Mr. Tam comments, "The appointment of William (Mickey) Harley as
President and Director marks a significant milestone for Xemplar
Energy. The fact that someone of Mr. Harley's professional experience,
background, and reputation has accepted this responsibility is validation that
the Company is on track to fulfill our vision of
establishing Xemplar as a mid-tier exploration
company. We are extremely pleased and excited that someone of Mr. Harley's caliber has joined the management team at Xemplar."
About Xemplar
Energy Corp.
Xemplar Energy
Corp. is a Canadian-based junior resource company focused on uranium
exploration in Namibia. The Company holds a 100% rights to uranium properties
in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through
its wholly owned Namibian subsidiary Namura Mineral Resources Pty. The Company
currently holds Exploration Prospecting Licenses (EPL) for its Cape Cross, Aus,
Garub and Warmbad
properties totaling 7,382 square kilometers
and is waiting to be awarded EPLs for its Engo Valley property. With the current EPLs
that it holds, it is the largest uranium exploration license holder in Namibia.
Upon being awarded the outstanding EPL for Engo
Valley, the Company will possess a land package covering nearly 8,500 KM�,
further strengthening the Company's dominant land position.
The primary focus of Xemplar Energy's
exploration work in Namibia is the Warmbad uranium
project, where the Company is on target to complete 40,000 metres of
exploration drilling during 2008. The Warmbad
property hosts a number of significant uranium occurrences, which the Company
is aggressively developing. As at Rossing, the
Namibian uranium mine which contributed 7% of the global uranium oxide
production in 2007, the alaskites at the Company's Warmbad project are relatively thin-sheeted leucogranites (i.e., light colored
granite rocks) which were layered within the country rocks.
With $16.0 million (CDN) cash on hand, the Company is in a strong
financial position to carry out its exploration programs and corporate
objectives for the next 24 months.
Mike Magrum, P.Eng., a qualified person
under National Instrument 43-101 and Director of Xemplar,
has approved the technical content of this news release.
On behalf of the Board of Directors,
Simon Tam
CEO and Director
Xemplar Energy Corp.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. This news
release shall not constitute an offer to sell or the solicitation of an offer
to buy securities in any jurisdiction. "Safe Har
bor" statement under the private securities
litigation reform act of 1995: this news release contains for ward
looking statements that are not historical facts and are subject to risks and
uncertainties which could cause actual results to differ materially from those
set forth in or implied herein.
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Thank
you for your interest in Xemplar Energy Corp.
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