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Press Release 08-14
APPOINTMENT
OF CHAIRMAN & NEW DIRECTOR TO THE BOARD OF DIRECTORS
August
21st, 2008 ? Abbotsford, British Columbia, Canada
? ICS Copper Systems Ltd. (ICS) (ICX:TSX.V) is pleased to announce the appointment
of Mr. Richard Molyneux to the position of
Chairman of the Board of Directors.
The
Company wishes to express its gratitude to the outgoing Chairman, Mr. Mel Smale, who will stay on as a Director. Mr. Smale has been the Chairman of ICS since the Company went
public and has served the position admirably.
Mr Molyneux graduated with a BSc (Honours) in Geology from Capetown University in South Africa.
He worked for Anglo American in South Africa in the mid
1970's conducting fieldwork that led to the discovery of the Venetian Diamond
Mine in South Africa.
With DeBeers he was appointed Resident Geologist at the Premier Diamond Mine
in 1976 where he remained until 1983. Richard was then appointed Chief
Geologist for Namaqualand Mines and subsequently appointed General Manager in
1995 overseeing a workforce of over 2,000. Richard was appointed President
and CEO of DeBeers Canada Corporation in 2000 based in Toronto.
During the six years that Richard was in this position approval was obtained
for the construction of the Snap Lake and
Victor Mines. Mr Molyneux retired from DeBeers in May, 2006.
New
Director ? Robert Sandford Stewart
The
Company also wishes to announce the appointment of Mr. Robert Sandford
Stewart to the Board of Directors effective August 19th, 2008.
An
Economist, Financier, Chairman and CEO of numerous mining and petroleum
companies, Mr. Stewart started his career with Hudson?s Bay Mining and Sherritt in the base
and precious metal mines in Northern
Manitoba. From there he transferred to East, Central
and Southern Africa where he financed, developed or sold a number of large
mining, petroleum and infrastructure projects with partners Falconbridge,
Bechtel, American Mineral Fields, Krupp, Electrowatt, and CDC London. As
Chairman of telecom, mining, biotech and natural gas companies, he lived over
30 years in Zurich,
London and New York as well as worked with the
IFC/World Bank to finance some of the largest projects in Africa. His leadership in writing the Master
Plan for the Reconstruction of the DRC remains a major milestone laying out
the future of all mining and infrastructure developments for that country.
Stock
Options Granted to Robert Sandford Stewart
Under
the Company?s 2006 Incentive Stock Option Plan, there are 2,971,387 Options
available to purchase Common Share of the Company. The Company has
previously issued 2,150,000 Options to Directors and Officers. On
August 19th, 2008 the Company issued 200,000 options to Robert
Sandford Stewart at an exercise price of $ 0.44 per share. These
options will expire on August 19th, 2013. The Company has
821,387 shares remaining for issuance under the plan.
President
and CEO of ICS Graham Chisholm comments: ?A special note of thanks to Mel for
his valuable past contributions as Chairman. We now welcome Richard to
that position and welcome Robert as Director. We are honoured to have
men of this calibre on our board.?
About ICS
The company?s flagship project the Mokambo Property is
located in the heart of the famous Central African Copperbelt, near Mufulira,
Zambia.
The company has completed a 10,300 meter drill program and expects
the NI 43-101 Resource Report, prepared by Coffey Mining, to be
announced in September 2008. Over the last year ICS has built a mining
compound and is nearing completion of its EMEW Plant installation which is
scheduled to start processing third party ore in Q4 2008.
ICS COPPER SYSTEMS LTD.
Signed ?Graham
Chisholm?
Graham Chisholm,
President & CEO
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
This
release includes certain statements that are ?forward-looking statements?. All
statements in this release, other than statements of historical facts that
address future exploration, development and production activities, and other
circumstances, events and developments that the Company expects, are
forward-looking statements. Although management 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, events and developments may differ materially from those in
the forward-looking statements. The occurrence of certain risk factors, the
probability of which is unknown, may also affect actual results, events and
developments expected by the Company.
For Further information
contact:
Graham Chisholm,
President ? (604) 859-3007 ? Email: graham@icscopper.com
Brett Whitelaw, Vice-President of Public Relations ? (778) 836-5891 ?
Email: brett_whitelaw@telus.net
www.icscopper.com
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