SOURCE: Alaska Pacific Energy Corp.

December 03, 2010 09:30 ET

Alaska Pacific Energy to Launch New Corporate Strategy

Company to Explore New Mineral Projects

CARLSBAD, CA--(Marketwire - December 3, 2010) - ALASKA PACIFIC ENERGY "APEC" (OTCBB: ASKE) is pleased to announce that APEC is now setting a new strategy which will allow the company to focus its attention solely on its intended mining interests. The company has been examining its options in this area for several weeks and has developed a strategy which will include the creation of a full-fledged mining and exploration company. It has always been APEC's intention to deliver to investors a company that values its shareholders and its obligation to provide value to all investors.

The new business plan is quite comprehensive and not only includes standard house-keeping issues such as maintaining filings and compliance, but also includes a renewed approach to investor relations and communications. With this in mind and as previously announced, the company is in the process of listing APEC on the CNSX exchange in Canada, a country which has always maintained an astute awareness and knowledge of the mining industry. This listing will give the company increased exposure to investors across North America as well as access to additional capital.

APEC is now reviewing its board and its management abilities in an attempt to understand where its strengths and its weaknesses lie in relation to operating in the mining industry. Additional board appointments are expected as well as the appointing of outside consultants and managers.

On November 23rd the company announced that it had an interest in pursuing a Montana based mining project. The board has taken a long thorough look at not only this project, but at mining projects in the State of Montana in general. The company has examined compliance issues for miners as well as costs and it has found that many U.S. based operations have had significant cost increases and with the Montana project in particular, the purchase price and costs versus potential revenue, do not make adequate sense at this point. The company will continue to review certain aspects of the project, but not until the spring of 2011. Therefore management would like to announce that until further notice APEC will no longer pursue this project.

What does make sense to pursue are mining projects based on the continents of Africa, South America and parts of Asia. The board is currently focusing its efforts geographically in these areas with the intention of selecting new acquisition targets as soon as possible. This approach has many favourable characteristics which include financial feasibility, access and streamlined compliance. The company has also recently developed solid relationships in these areas and looks forward to moving ahead with its business plan.

Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

    Alaska Pacific Energy Corp.
    Jim King Sr.