Copper Lake Resources Ltd.
TSX VENTURE : WTC
FRANKFURT : W0I

Copper Lake Resources Ltd.

March 01, 2016 16:12 ET

Copper Lake Announces Appointment of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2016) - Copper Lake Resources Ltd. (TSX VENTURE:CPL) (FRANKFURT:W0I) ("Copper Lake" or the "Company") is pleased to announce the appointments of Mr. Gary O'Connor, Mr. David Speck and Mr. Edward Yurkowski as Directors of the Company. In addition, Mr. Terry MacDonald is appointed as Interim Chief Executive Officer and Mr. David Speck is appointed as Chief Financial Officer, effective immediately.

"We are very pleased to have a representative of Dundee Corp., our largest shareholder, join the Board of Copper Lake. In these turbulent times, we see this as a very positive statement by a significant and influential institutional investor. We are also very pleased that Mr. Yurkowski has rejoined the Board, as his support has been very substantial over the past 18 months. And the addition to the Board of Mr. Speck, who is based in Toronto, will significantly strengthen our operations as we transition the move of the Company's head office to Ontario where our properties are located."

About Gary O'Connor, MAus IMM:

Mr. O'Connor is Vice-President, Exploration at Dundee Resources, where he has been responsible for the technical due diligence and review of resource projects for Dundee, which he joined in 2007. Prior to joining Dundee, he was Vice-President, Exploration of Gabriel Resources Ltd. Mr. O'Connor has over 25 years of experience in mineral exploration and development throughout the world. He graduated from the University of Auckland in 1982 with a degree in geology, geophysics and environmental studies.

About Edward Yurkowski:

Mr. Yurkowski is a Consultant to and was a founder and the Chief Executive Officer of Procon Mining and Tunnelling Ltd., a Vancouver based full-service mining contractor with operations around the world. Mr. Yurkowski received his Bachelor of Science in Civil Engineering from the University of Saskatchewan in 1971 and holds a number of directorships with various mining companies, including Imperial Metals Corporation. Mr. Yurkowski was previously a director of Copper Lake from 2009 until June 2015.

About David Speck:

Mr. Speck is currently President of 3D Imaging Partners, a medical software company based in Toronto. Mr. Speck has numerous years of experience in senior management, including his role as Director and Vice-President of Polar Star Mining. He has extensive experience in investor relations and corporate development including senior positions including Vice President at O'Donnell Investment Management, Complex Sales Manager at Merrill Lynch Canada and Executive Vice President, National Sales Manager at Research Capital Corporation in addition to serving as an independent investor relations officer for several publicly traded companies, with companies listed on both the TSX and TSX Venture Exchanges. Mr. Speck is a graduate of the University of Guelph and holds a Chartered Financial Analyst (CFA) degree, since 1994.

About Terry MacDonald, CPA, CA

Terry MacDonald is a Chartered Professional Accountant with over 30 years' experience in the financial and resource sectors including extensive international experience. He has extensive experience with public company financial reporting and regulatory filings, with a focus on the mining sector. Up until December 2014, Terry was an audit partner with a Vancouver based accounting firm where he provided accounting, audit and transaction services to numerous mining companies and has since focused on restructuring of junior mining companies and advising on corporate governance practices. Terry has been a Director of the Copper Lake since June 2015.

About Copper Lake:

Copper Lake currently has two properties in Ontario - the Norton Lake property and the Marshall Lake property. The Company has an option to earn a 50% interest in the Marshall Lake property, and also has the additional option to increase its interest to 75% by incurring such additional expenditures as are necessary to take the project to bankable feasibility stage. As at July 31, 2015 (the Company's most recent financial statement reporting date), Copper Lake has earned a 37.5% joint venture interest in the Marshall Lake property and holds a 69.79% interest in the Norton Lake property, which has a 43-101 compliant resource.

The Company intends to focus its near term efforts on the continued development of the Marshall Lake property, which is an advanced exploration stage copper, silver and gold project located 120 km north of Geraldton, Ontario, via a good all weather gravel road from Hwy 11/Trans Canada Hwy, and 22 km north of the main CNR rail line.

The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company 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 in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.

Contact Information

  • Copper Lake Resources Ltd.
    Terrance MacDonald
    778-867-9533