Pele Mountain Resources Inc.

Pele Mountain Resources Inc.

January 15, 2016 09:00 ET

Pele Mountain Resources Appoints Wayne Richardson as Chairman of its Board of Directors

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2016) - Pele Mountain Resources Inc. (TSX VENTURE:GEM)(OTCQX:GOLDF) ("Pele" or the "Company") is pleased to announce the appointment of Mr. Wayne Richardson to its Board of Directors and his election as Chairman of its Board.

Mr. Richardson is President and Chief Executive Officer of Enirgi Group ("Enirgi"), a privately held specialty chemicals & diversified industrials company headquartered in Toronto, Canada. Enirgi owns and operates a portfolio of diversified assets and operations focused on Power Storage, Chemicals, Resources, Innovation, Environmental Services, and Agriculture.

Mr. Richardson is a well-regarded and highly respected results-oriented professional with decades of international business development experience and a history of successful management of turnaround, growth, and start-up companies worldwide. He has led the impressive development and growth of Enirgi Group since its inception and holds Management and Board positions at LeadFX Inc., a TSX listed Canadian public company, and several privately held companies that operate under the Enirgi Group umbrella.

Pele President Al Shefsky stated, "It's a great privilege to welcome Wayne Richardson as Chairman of the Board of Directors. Wayne is a proven dealmaker and business developer who brings international perspective and bold entrepreneurial spirit to Pele at a key time in our evolution. We are excited to leverage his experience and insight as he leads our Board through Pele's next stage of growth. With his track record of delivering world class development projects on time and on budget, Wayne's strong leadership skills are ideally suited to unlocking value through sustainable development at Eco Ridge."

Mr. Richardson commented, "I am pleased to join Pele as its Chairman and I look forward to working closely with both the Board of Directors and Pele's management team. Pele's proposed rare earth processing operations and renewable energy project at Eco Ridge offer excellent development potential and I welcome the opportunity to work with the team to deliver positive results and create value for shareholders."

Pele's Eco Ridge property has unique characteristics that make it an attractive location for development. Eco Ridge is receiving growing international interest, both as the proposed site for Canada's first rare earth processing centre and as potential host of a large-scale renewable energy project. Earlier this month Pele launched Eco Ridge Development Corporation ("ERDC") and announced the appointment of former Ontario Cabinet Minister John Wilkinson as Chairman of ERDC. For more please see Pele's press release dated December 10, 2015.

About Pele

Pele Mountain Resources is focused on the sustainable development of its Eco Ridge property in Elliot Lake, Ontario. The Eco Ridge property has unique characteristics that make it an attractive development site, including excellent regional infrastructure, strong local support, and its strategic location within Canada's only historic rare earth mining camp.

Pele is focused on advancing Eco Ridge as host to Canada's first rare earth processing centre and has begun assessing its potential to host a large-scale renewable energy project. The NI 43-101 mineral resources at Eco Ridge also provide Pele shareholders with exposure and leverage to the growing global demand for rare earths and uranium.

Pele shares are listed on the TSX Venture Exchange under the symbol "GEM" and on the OTCQX under the symbol "GOLDF".

For further information, please visit the Pele website at

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.

Common Shares Outstanding: 196,407,929

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