Otterburn Ventures Inc.
CNQ : OTBN

Otterburn Ventures Inc.

May 06, 2008 16:18 ET

Otterburn Ventures Inc. Appoints New Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2008) - Otterburn Ventures Inc. (CNQ:OTBN) (the "Company") is pleased to announce that at the Company's Annual General Meeting held on April 30, 2008, Robert Cairns and Trevor Peach were re-elected as directors. The Company is also pleased to announce the appointment of James (Jim) Newton and Lorne Warren to the Board of Directors. Mr. Barry Foster has also been appointed as the Chief Financial Officer of the Company.

Jim Newton has been working in management and resource consulting for public companies in the Canadian market for over 30 years. He has been involved in planning and field work for Canadian and US exploration operations. He brings a practical hands-on approach to building the team required for a successful dynamic public company. Mr. Newton was also appointed as President of the Company.

Lorne Warren has been involved with B.C. mining, exploration and prospecting for more than 45 years. In 2001 he was awarded the Spud Huestis Award by the B.C. and Yukon Chamber of Mines for excellence in prospecting. Lorne is currently prospecting, doing contract exploration, and placer mining. Lorne is the President of CJL Enterprises, Ltd. and Kengold Mines, Ltd. Mr. Warren was also appointed the Company's Manager of Field Operations.

Barry H. Foster has executive experience in multiple industries as director, CFO and COO with both public and private enterprises. He has held positions with public companies in management including director and CFO of Quadra Resources Corp. which was acquired by Arsenal Energy Inc. (AEI-TSX). Previously he was director, CFO and COO of Chartwell Technology Inc. (CWH-TSX). Mr. Foster is a member of the Certified General Accountants Association of Alberta and has experience in petroleum, technology, finance and accounting.

A veteran of the oil industry, Mr. Foster began his petroleum career with Dome Petroleum in 1980 and worked the frontiers, international and Western Canada and acquired the Professional Landman designation in 1990. He has more than 25 years experience in upstream oil and gas exploration and operations in Canada as well as internationally in South America, North Africa and other regions.

The Company wishes to thank Harvey Lawson and Bruce Wright for their past contributions as directors and Mr. Lawson's contributions as CFO.

The adoption of a rolling stock option plan providing for the reservation of a maximum of ten percent (10%) of the issued and outstanding shares of the Company and the granting and amendment of stock options was unanimously passed at the Annual General Meeting. The maximum allowable stock options will therefore increase as the issued share capital increases. The stock options will not be subject to a vesting period.

About Otterburn Ventures Inc.

Otterburn Ventures Inc. is a Canadian exploration company dedicated to bringing quality mineral properties to feasibility.

On Behalf of the Board of Directors

OTTERBURN VENTURES INC.

Robert Cairns, CEO and Director

The CNQ does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Otterburn Ventures Inc.
    Roberts Cairns
    CEO
    (604) 639-4478
    (604) 909-1163 (FAX)
    or
    Otterburn Ventures Inc.
    Jim Newton
    President
    (604) 639-4477