Ram River Coal Corp.

Ram River Coal Corp.

September 19, 2017 14:43 ET

Ram River Coal Corp Announces Appointment of Mr. Joseph Carrabba as President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 19, 2017) - Ram River Coal Corp. ("Ram Coal" or the "Company") is pleased to announce the appointment of Mr. Joseph Carrabba as President and CEO of Ram Coal effective as of September 1, 2017.

Mr. Carrabba replaces Mr. William Lamb who has been appointed to serve the Company as Executive Chairman of the Board. Mr. Carrabba brings to the Company over 40 years of international experience in the mining sector and has worked for several multinational mining operations with a focus on coal, iron ore, and industrial minerals.

Joe was most recently Chairman, President and CEO of Cleveland-Cliffs Inc. (NYSE:CLF), a $2.4 billion company from which he retired in November 2013 after 8 years of executive office. Cleveland-Cliffs is a well-known and highly regarded company specializing in the mining and beneficiation of iron ore

Mr. Lukas Lundin, a director of Ram Coal, commented, "Joe's extensive financial, operational and environmental/social responsibility experience will be of great benefit to Ram Coal as we continue to advance our Aries metallurgical coal project in Alberta towards production. He is joining the team at the perfect time as in 2017 the Company commissioned an independent pre-feasibility study and in view of the positive results received, an optimization study was completed further enhancing the economic and operational potential of the project."

On behalf of the Board,

Lukas H. Lundin, Director

About Ram Coal

Ram River Coal Corp. is a private Canadian company holding a 100% interest in the Ram River property that contains two well-defined metallurgical coal deposits located in Alberta, Canada. The Ram River property contains an NI 43-101 in-place coal mineral resource estimate. A Pre-Feasibility Study ("PFS") was recently completed on its flagship project, the Aries Project within the Ram River property. For additional information, refer to the technical report entitled "Technical Report Aries Coal Project" dated April 20, 2017, which is available on the Company's website at www.ramcoal.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of Canadian securities legislation, including, without limitation, statements with respect to the Company's objectives and strategies, expectations regarding the Aries metallurgical coal project, the results of the PFS, the estimates of cash flows, and the estimation of Mineral Resources and Mineral Reserves. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; the Company's ability to carry on exploration and development activities; the timing and results of exploration programs; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in mining exploration, development and operations; risks related to the preparation of the PFS, drill results and the estimation of Mineral Resources and Mineral Reserves; currency fluctuations; and risks associated with executing the Company's objectives and strategies, including costs and expenses. Except as required by applicable laws and regulations, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Contact Information

  • Ken Brophy
    VP, Sustainable Development
    kenb@namdo.com
    Ph. +1 604-689-7842