Pele Mountain Resources Inc.

TSX VENTURE : GEM
OTCQX : GOLDF


Pele Mountain Resources Inc.

February 11, 2014 09:27 ET

Pele Mountain Nominates Janis Peleshok to Its Board of Directors

TORONTO, ONTARIO--(Marketwired - Feb. 11, 2014) - Pele Mountain Resources Inc. (TSX VENTURE:GEM) (OTCQX:GOLDF) ("Pele" or the "Company") is pleased to announce that Ms. Janis Peleshok has been nominated to join its Board of Directors at the Company's upcoming Annual Meeting of Shareholders.

During 2013 and early 2014, Ms. Peleshok has acted as an advisor to Pele, participating in meetings of the Canadian Rare Earth Element Network (CREEN), COM13 Rare Earth Symposium, and meetings with governments, industry participants, and key stakeholders. Ms. Peleshok has wide-ranging experience as a strategic planning and business development consultant. She holds a degree in Chemical Engineering from the University of Toronto and is a Professional Engineer licensed with the Professional Engineers of Ontario.

Ms. Peleshok stated, "I look forward to continuing our work together toward a made-in-Ontario solution to the global need for critical rare earths from a safe and reliable source. I enjoy the challenges presented in today's rare earth industry and recognize the remarkable opportunity that they provide to the Company. Pele's Eco Ridge Mine project in Elliot Lake is uniquely positioned to expedite creation of an early to market critical rare earth supply chain right here in Canada. I appreciate the nomination to Pele's Board."

Pele President and CEO Al Shefsky stated, "Janis is an accomplished professional engineer with an impressive array of skills and expertise. With our recent appointment of John Wilkinson, former Ontario Cabinet Minister, our new Board members add a dynamic and well informed perspective to our world class development team as we progress toward the licensing and feasibility phases at our Eco Ridge Mine Rare Earth and Uranium Project."

Ms. Peleshok's election to Pele's board remains subject to shareholder and regulatory approvals.

About Pele

Pele Mountain Resources is focused on the sustainable development of its 100-percent owned Eco Ridge Mine Rare Earth and Uranium Project. Eco Ridge is located in Elliot Lake, the only Canadian mining camp to have ever achieved commercial rare earth production. With well-understood geology and mineralogy, excellent regional infrastructure, and strong local support, Eco Ridge is an ideal location for the development of a safe, secure, and reliable long-term supply of critical rare earths and uranium. Pele's shares are listed on the TSX Venture Exchange under the symbol "GEM" and on the OTCQX under the symbol "GOLDF".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The economic viability of the 43-101 mineral resource at Pele's Elliot Lake Project has not yet been demonstrated by a preliminary feasibility study.

Shares Outstanding: 165,529,198

Contact Information