SOURCE: Rae Wallace Mining Company

Rae Wallace Mining Company

February 24, 2011 12:46 ET

Rae Wallace Mining Company Adds Ed Thompson, Bryan Morris, and George Cole to Its Board of Directors

RENO, NV--(Marketwire - February 24, 2011) - Rae Wallace Mining Company (PINKSHEETS: RAEW) ("Rae Wallace" or the "Company") today announced that Ed Thompson and Bryan Morris have joined its Board of Directors. George Cole, the Company's President and CEO, has also joined the Board. These appointments add substantial senior management experience to an already solid leadership team at Rae Wallace. 

Mr. Thompson has more than 50 years of industry experience as a geologist, a professional engineer, and in a variety of senior management positions. He began his career with Teck Corp. in the late 1950s as a geologist, followed by senior positions at Lacana Mining, Mingold Resources, Westgold Resources, and Anglo American Minorco Group. He is President of E.G. Thompson Mining Consultants Inc. and a Director of several junior resource companies. He holds a B.Sc. in Engineering Geology and a M.Sc. in Economic Geology from the University of Toronto. He is a Director and Treasurer of the Canadian Mining Hall of Fame and past President of the Prospectors & Developers Association of Canada.

Mr. Morris has more than 45 years of industry experience in areas of finance and business development. After a decade working in accounting and finance for Peruvian metal producer, Cerro de Pasco Corp, later Centromin, Mr. Morris began a 27-year career with Cominco in senior positions including CFO of Cominco Resources and V-P, Business Development of Cominco, where he was responsible for identifying, evaluating, and negotiating acquisitions. Mr. Morris is a fellow of the Chartered Institute of Management Accountants (UK) and a Director of several junior resource companies.

Mr. Cole has more than 30 years of international exploration, property evaluation, business development, and corporate management experience. He retired from the Cominco organization in 2001 as V-P of Exploration for Cominco American where he was responsible for exploration and business development. Among many achievements, Mr. Cole led teams that more than doubled the resource base at the Red Dog Zinc Mine in northwest Alaska, one of the largest zinc mines in the world. Since 2002, he has been a Director and held various senior executive positions with several junior resource companies including Trelawney Mining & Exploration, Garrison International Ltd., and Quincy Energy Corporation.

Rae Wallace also announced the resignations of Paul Dircksen and Stephen Friberg from the Board, where they have served since the Company was reactivated in 2007. They have been largely responsible for building the Company, leading the identification and acquisition of its Peruvian mineral properties. Despite vacating their Board seats, both will remain in leadership roles at Rae Wallace. Mr. Dircksen will chair the Technical Advisory Committee and Mr. Friberg will continue as V-P of Exploration. 

Rae Wallace Mining Company is exploring drill-ready gold and silver properties along the prolific mineral belts of Peru, the world leader in foreign mining investment. The Company is led by senior industry executives and skilled explorationists, experienced at the identification, acquisition, and development of successful, large-scale, international mining projects. The Company has prominent corporate shareholders and features a tight share structure, allowing room for acquisitions and financing while providing investors outstanding leverage to discovery. Rae Wallace stock currently trades on the OTC market under the symbol "RAEW."

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. 

Contact Information

  • For additional information, please contact:
    George Cole
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