Explorex Announces Significant Director and Management Changes For Expansion Into Strategic Metals

  • 2017

Explorex Resources Inc. (the “Company” or “Explorex”) (Canadian Stock Exchange: EX:CSE) is pleased to announce it has realigned the board and management to strengthen its ability to execute upon its recent expansion and focus on strategic commodities. These changes to the Board and executive positions elevates the Company’s expertise to deal with anticipated future needs of greater capital requirements and increased technical oversight.

Changes to the Board of Directors and Executive Roles

Bill Wishart, currently President and CEO has been elevated to Chairman.

Mike Sieb is appointed a Director and will assume the position of President.

Mike brings 30 years of strong corporate growth and project management experience in international mining and exploration. He has been a director and officer of numerous publicly-traded companies and his expertise extends across multiple commodities and jurisdictions supported by a strong technical and marketing foundation.  He brings an impressive list of accomplishments including steering a company through a $20 million acquisition then parlaying the venture to a $200 million market capitalization in two years, successfully sourcing and negotiating a strategic partnership with one of the largest global lithium product manufacturing companies, facilitating one of only two federal potash permits granted by the US Bureau of Land Management in the last 40 years and was recognized when a public company under his stewardship was named to the TSX50 “Top 10 Mining Companies on the TSX: V” for two consecutive years during his tenure as president.  Mr. Sieb holds a Masters of Business and Administration and a Bachelor of Science degree in Geology.

Jerry Bella is appointed as an independent Director

Jerry is a self employed financial consultant presently providing services to a leading China based integrated lithium producer. Since receiving his professional accounting designation in 1979, he has been a director and CFO of numerous private and publicly-traded companies including mineral resource exploration, oil and gas, manufacturing and high-tech companies. Jerry has extensive experience relating to the financial stewardship of Canadian and international mineral exploration projects and is currently overseeing the finances of two major international lithium exploration projects.

Gary Schellenberg will remain a Director and will assume the position of CEO.

Jim Mustard, currently VP Exploration and Director, will assume the position of VP Corporate Development.

Shelly Jensen has tendered her resignation as a Director – we thank her for the many years of long service and wish her the best in the future.

These changes are effective immediately.

Stated Bill Wishart; “We have been considering a realignment of the board for a period of time in anticipation of the expected increase in our exploration activity and continued expansion into the strategic metals space. The new Board members, and their assigned roles, will allow us to expand our activity in the coming months as we continue to roll out a strategy that will lead to a greater time commitment on the part of the Board in leading new initiatives and managing more active exploration. I also want to personally thank Shelly for her service to the Company during a period of significant transition”.

 

About Explorex Resources Inc.

Explorex is an exploration company that has acquired a 100% interest in one cobalt project, Chrysler Lake, and has an LOI to earn a 100% in the Cobalt-Paragon project, both of which are located within the Cobalt Embayment region of north-eastern Ontario. The cobalt projects form a nucleus of a strategy to acquire additional projects where the commodity focus is on metals critical to the rechargeable battery industry. The Company also controls 100% of the Silver Dollar project in BC, subject to issuance of an additional 800,000 shares to complete the acquisition.

 

On behalf of the board,

Bill Wishart,

Chairman

 

For further information, please contact Mike Sieb, President, at mike@explorex.ca; phone 604.681.0209 or Ron Birch at bircress@shaw.ca; phone 1-800-910-7711

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.