Mike Kilbourne Appointed New President White Pine Resources
posted on
Jan 07, 2009 03:38PM
Aggressive program in a highly prospective portion of the "Ring of Fire" mineralized zone.
TORONTO, ONTARIO--(Marketwire - Jan. 7, 2009) - White Pine Resources Inc. (TSX VENTURE:WPR) - The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information, please contact
White Pine Resources Inc.
TSX VENTURE: WPR
Jan 07, 2009 16:16 ET
Mr. Mike Kilbourne Appointed New President White Pine Resources Inc.
Effective January 7, 2009, Mike Kilbourne has been appointed President of White Pine Resources Inc. His immediate focus will be the further development and exploration of White Pine's extensive property package in James Bay, Ontario. Mr. Kilbourne will also be responsible for the broader corporate strategy, including business development matters, as well as maintaining White Pine's positive profile in the James Bay area and the capital markets.
"We are very pleased with Mike's performance over the past few months since Mike has been with White Pine. The acceptance of this position by an individual of Mike's calibre underscores our belief that the James Bay Lowlands has extremely good exploration potential," said John Tait, CEO of White Pine.
Mr. Kilbourne has over 20 years of mineral exploration and mining experience throughout North America and is a member of the Association of Professional Geoscientists of Ontario. During the last 2 years, he has been extensively involved with the Ring of Fire discoveries of both Noront Resources and White Pine Resources in the James Bay Lowlands.
About White Pine
White Pine is a Canadian based mineral exploration company with extensive property holdings strategically located on and around the nickel/copper "Ring of Fire" in northern Ontario near James Bay.
White Pine has entered into an agreement with Metalex and Arctic Star whereby White Pine has the right to fund a maximum of $20.0 million in expenditures on the James Bay Properties Property over a 4 year period to earn a maximum 50% interest. The James Bay Properties comprise approximately 214.4 square kilometers (52,980 acres) (see press release dated March 26, 2008).
White Pine can earn a 50% interest in the McFauld's Lake Property pursuant to an option agreement with Noront Resources Ltd. (TSX VENTURE:NOT) (see press release dated November 1, 2007). The area will include 15 Claim Blocks, approximately 4,400 hectares (9,600 acres) in the Ring of Fire, McFauld's Lake, Ontario near Noront's prolific nickel copper and platinum group metals discovery.
White Pine has agreed to acquire a 75% interest in the Big Mac Property from MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) consisting of 51 Claim Blocks, approximately 27,660 acres (see press release dated February 15, 2008).
White Pine and Noront have agreed to earn a 35% interest each in the Luc Bourdon Prospect from Golden Valley Mines Ltd. (TSX VENTURE:GZZ) consisting of approximately 9,000 hectares (see press release dated June 6, 2008). The Luc Bourdon Prospect surrounds the recently announced Volcanic Derived Sulphide (VDS) Mineralization by Metalex and WSR to the north, east and south.
Forward looking statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of WSR, including but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the unavailability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and as such, undue reliance should not be placed on forward-looking statements.
Shares Outstanding: 15,592,660
John Tait
Chief Executive Officer
(416) 628-5905
(416) 628-5911 (FAX)
Email: jtait@347bay.com