VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2012) - Kivalliq Energy Corporation ("Kivalliq") (News - Market indicators) today announced that Jim Malone has joined Kivalliq's board of directors. Mr. Malone's knowledge of the nuclear fuel markets, and relationships with global nuclear companies and industry participants, will provide critical expertise and insight as Kivalliq advances the Angilak Property in Nunavut Territory, Canada.
"We are proud to welcome an individual with Mr. Malone's industry experience and his track record of corporate leadership. In addition, the integral part Mr. Malone played in the growth of Hathor Exploration Ltd., culminating in Hathor's recent transaction with Rio Tinto, will be of great benefit to our company as Kivalliq grows," stated Jim Paterson, CEO. "As we demonstrate the increasing value of our Angilak Property, Kivalliq continues to attract and retain extremely high-caliber team members."
New Board Addition
Jim Malone served as co-editor of the World Nuclear Association's ("WNA") "The Global Nuclear Fuel Market Report Supply and Demand 2007 - 2030". He is currently Chairman of the WNA's Fuel Technology Working Group and is working on a high power density metallic fuel technology development with Lightbridge Corporation, and a high thermal conductivity oxide fuel with IBC Advanced Alloys Corp. He was Chairman of the Board of Hathor Exploration Ltd., which, in January 2012, became a wholly-owned subsidiary of Rio Tinto as part of a CAD$650 million acquisition. Jim is widely recognized as a nuclear industry and nuclear fuel expert, with more than 40 years of experience in the downstream business, most recently as vice-president, nuclear fuels, Exelon Generation Co. LLC, the largest generator of nuclear power in North America.
In 1968, Jim began his career in nuclear power as an engineer in the utility reactor core analysis section of the nuclear engineering department of United Nuclear Corporation (UNC) after receiving a B.S. in chemical engineering (nuclear) at Manhattan College, Bronx, New York in 1968. In 1972, Jim completed an MBA at Iona College, New Rochelle, New York where he was awarded the Graduate School of Business Award for Academic Excellence. He is a member of the American Nuclear Society and a Past Chairman of the ANS Fuel Cycle Waste Management Division.
Stock Options Grant
Stock options have been granted to directors and officers, in accordance with the terms and conditions of Kivalliq's stock option plan, entitling them to purchase 2,625,000 shares at the price of $0.45 per common share.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation (News - Market indicators) is a Vancouver-based uranium exploration company holding Canada's highest grade uranium deposit outside of Saskatchewan's Athabasca Basin. The Company's flagship project, the 252,830 acre Angilak Property in Nunavut Territory, is host to the Lac Cinquante Deposit with a NI 43-101 Inferred Resource of 1,779,000 tonnes grading 0.69% Uâ’OâÆ, totalling 27.13 million pounds Uâ’OâÆ. Kivalliq's comprehensive exploration programs continue to advance the Lac Cinquante Deposit and demonstrate the "District Scale" potential of the Angilak Property.
Kivalliq's team of northern exploration specialists have forged strong relationships with sophisticated resource sector investors and project partner Nunavut Tunngavik Inc. ("NTI") in order to advance the Angilak Property. Kivalliq was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors
James R. Paterson, CEO
Kivalliq Energy Corporation
Kivalliq Energy Corporation is a member of the Aurora Mineral Resource Group of companies. For further information about Kivalliq Energy Corporation or this news release, please visit our websites at www.kivalliqenergy.com and www.auroraresource.com.
Certain disclosures in this release, including the growth and value of the Angilak Property, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to market price of Kivalliq's securities and the market for securities of resource exploration companies in general; commodity prices and, in particular, the price of uranium and the completion of Kivalliq's plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
