Boss Power Corp.

Boss Power Corp.

September 28, 2007 13:11 ET

Boss Power Corp. Re-organization; New Chair and CEO Announced

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2007) - Boss Power Corp. (TSX VENTURE:BPU) is pleased to announce that it has now appointed a new Board of Directors and Management for the permitting and development of its 100% owned Blizzard uranium deposit in the Greenwood Mining Division in south-central British Columbia. The new Board and management team will consist of:

President, CEO and Director - Dr. David M. Stone, MBA, P.Eng.; Dave has 30 years of engineering and financial consulting experience to underground and surface metal mines worldwide. He has managed and led multi-disciplinary project teams through pre-feasibility and feasibility level evaluations of development stage projects, and has contributed to the engineering, design and construction of several mines. His mining expertise includes scoping and feasibility studies for open pit and underground projects, and an extensive international knowledge of current mining best practices, environmental permitting, mine planning and production scheduling, capital and operating costs, equipment selection, and financial analyses. Dr. Stone spent his early years in Naramata and went to school in Penticton, B.C. He received his B.A.Sc. in Geological Engineering from UBC and went on to complete a Ph.D. in Civil Engineering at Queen's University at Kingston where he returned in 2002 to complete an MBA. He is a licensed professional engineer in numerous Canadian and US jurisdictions.

Chairman - Ron Netolitzky, M.Sc.; Ron is past-Chairman of Viceroy Exploration and current President and CEO of Santoy Resources Ltd. and director of numerous other public and private junior exploration and development companies. Ron has 40 years of technical and managerial experience in the mining industry and was instrumental in the development of the Snip and Eskay Creek mines in British Columbia, and the Brewery Creek heap leach gold mine in the Yukon. Ron was voted Prospector of the year in 1991 by the Prospectors and Developers Association of Canada.

Director - R. Stuart (Tookie) Angus, LLB; Tookie is the former Managing Director of Mergers and Acquisitions for Endeavour Financial in Vancouver. Prior to joining Endeavour, he was a law partner at Fasken Martineau DuMoulin and headed that firm's Global Mining Group. For over 25 years, Tookie has focused on significant international mining exploration and development projects and has been a director of numerous mining companies, including Canico Resource Corp. and Bema Gold Corp.

Director - John H. Bowles, FCA; John retired in 2006 as a partner in the audit practice of PricewaterhouseCoopers in Vancouver and was the leader of their British Columbia mining practice. John is a director of HudBay Minerals Inc. and Hecla Mining Company and a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum. John has lectured for the Canadian Institute of Chartered Accountants, the Certified General Accountants and the University of British Columbia.

Director - Doug Brooks; Doug was President of Boss Gold International Corp. during the reverse take-over transaction. Doug spent 33 years as an Investment Advisor at Richardson Greenshields of Canada Ltd.

Vice-President, Exploration - Rupert Allan, P.Geol.; Rupert has 39 years of technical, managerial and permitting experience in the mining exploration industry and is currently director of several public companies, including Skeena Resources, Brett Resources and Great Western Diamonds. He is also a technical advisor to Santoy Resources Ltd., one of the major shareholders of Boss Power, and was instrumental in Santoy's acquisition of the Blizzard project.

Vice-President, Corporate Development - Randall S. Rogers, M.Sc.; Randy obtained his M.Sc. at Queen's University at Kingston in 1971 and was a geologist with Noranda Exploration for many years. He has recently retired from a distinguished career in the Royal Canadian Mounted Police where he specialized in securities and mining investments. He provided advice to the Mining Standards Task Force of the TSE and the OSC.

Chief Financial Officer - Karen Allan, CMA; Karen is also CFO for Santoy Resources.

Legal counsel for Boss Power will be Fasken Martineau of Vancouver. The prior auditors for Boss Gold International Corp., Amisano Hanson of Vancouver have resigned, and PricewaterhouseCoopers have accepted the account.

In accordance with the Company's stock option plan, 5,350,000 million incentive stock options are being granted at an exercise price of $0.80 per share for a period of five years from the date of grant to directors, officers, employees and consultants. All of the options are subject to vesting over a period of two years. Any shares issued under the option plan will be subject to a four-month hold period from the date of grant, pursuant to the policies of the TSX Venture Exchange.

Ron Netolitzky has stated that, "Boss Power Corp. is exceptionally fortunate to have an engineer as capable, as experienced and as qualified as Dr. David Stone to direct the feasibility study, management and permitting of the Blizzard uranium deposit. Dave was raised in Naramata, just 35 km southwest of the property. He's worked around the world, and has now returned to advance this superb project. The new Board and management, all of whom are British Columbia residents and long-time business associates with successful mine permitting and development careers, are proud to be associated with this environmentally friendly undertaking which potentially will make an important contribution to reducing global warming. We look forward to advancing the project for the benefit of the local community and our other stakeholders in the Kettle Valley."


The Blizzard deposit is a well-known historically reported uranium resource and the subject of a NI 43-101 compliant Technical Report dated November 15, 2006 as revised on February 23, 2007 and May 30, 2007, by Dr. Peter A. Christopher, P.Eng. The Blizzard deposit was the subject of a detailed engineering evaluation by Kilborn Engineering in the late 1970's, based on a total of 21,184 metres of drilling in 478 reverse circulation and diamond drill holes.

The Kilborn Engineering Feasibility Study generated an historical reserve calculation of 2.2 million tonnes grading 0.214 percent U308, at a cut-off grade of 0.025% U308 and including a 15% mining dilution (for an estimated 10.4 million pounds of U308). This was re-classified by Dr. Christopher into an indicated and inferred resource to reflect current usage as the Kilborn Engineering Feasibility Study is not in compliance with NI 43-101. Readers are cautioned that Boss Power has not undertaken any independent verification of the data on which the Kilborn resource is based, or the feasibility results, hence the results should not be relied upon.

On Behalf of the Board of Directors


Ron Netolitzky, Chairman

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Boss Power Corp.
    David Stone
    President & CEO
    (604) 669-4799
    Boss Power Corp.
    Tony Perri
    Investor Relations, Manager
    (604) 669-4799
    (604) 669-2543 (FAX)