Pacific Ridge Announces AGM Results and Exploration Plans
VANCOUVER, British Columbia, June16, 2017(GLOBE NEWSWIRE) -- Pacific Ridge Exploration Ltd. (TSX Venture:PEX) ("Pacific Ridge" or the "Company") reports on the results of its Annual General Meeting held June 15, 2017. Gerald Carlson, Gordon Davis, Blaine Monaghan and Bruce Youngman were elected to the board.
Douglas Proctor retired from his role as Director and Chair of the Audit Committee after 10 years of service to the Company. The board would like to thank Doug for his wisdom and sage advice.
The directors are pleased to welcome Blaine Monaghan to the board. Mr. Monaghan has had a successful record with a number of exploration companies including True Gold Mining Inc., acquired by Endeavour Mining Corp., Canplats Resources Corp., acquired by Goldcorp Inc., Western Prospector Group Ltd., acquired by a subsidiary of China Nuclear National Corp. and Wheaton River Minerals Ltd., which merged with Goldcorp in 2005. Mr. Monaghan holds a bachelor of arts degree from Simon Fraser University, a diploma in public relations from the Public Relations Institute of Ireland and has completed the Canadian Securities Course.
At the Annual General Meeting, shareholders also ratified the Company's rolling stock option plan and re-appointed PricewaterhouseCoopers LLP, Chartered Accountants as auditors of the Company.
The Company also reports that it has granted 383,000 incentive stock options to certain directors and officers of the Company. The options have an exercise price of $0.06 per share and a term of five years.
2017 Exploration Plans
The Company is commencing an active field season exploring its Yukon project portfolio. It plans a program of geological mapping, prospecting, soil sampling and geophysical surveys at its recently acquired OGI Zinc project. It will then carry out a program of mapping and soil sampling at its new RC Gold acquisition. A soil geochemical program is planned for its White Gold district Eureka Dome project. Four Nines Gold will be completing a program of data compilation, geological mapping, trenching and geochemical sampling on the Company's Mariposa Gold project, also in the White Gold district.
The Company will be providing regular updates as this program progresses.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
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.
The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., President and CEO of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.
Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the placements and future exploration plans and expenditures. Although Pacific Ridge 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals for the transactions described herein, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information, contact: Pacific Ridge Exploration Ltd. Gerald G. Carlson President & CEO Tel: (604)484-7104 www.pacificridgeexploration.com