TSX-V: KRX
www.copper-ridge.com
VANCOUVER, June 25 /PRNewswire-FirstCall/ - Copper Ridge
Explorations Inc. (TSX-V:KRX) (the "Company") is pleased to
announce the appointment of J. Greg
Dawson as the Company's President, effective July 1st, 2010. Mr. Dawson has served as the Vice
President of Exploration for the Company since 2004. He has over 25
years of experience in the exploration business including serving
as District Manager and General Manager with Teck Exploration Ltd.
from 1999 to 2002 in Central Asia
and South America. Mr. Dawson has
a BSc in geology from the University of
British Columbia and an MSc (MinEx) from Queens University. He is a member of the
Association of Professional Engineers and Geoscientists of
British Columbia and is currently
a director of AME BC where he sits on the Safety Committee and
Chairs the Land Use Committee.
Mr. Gerald Carlson, founder of
Copper Ridge, has resigned as President and CEO and will remain as
a Director and consultant to the Company. "On behalf of the Board
of Directors I want to thank Mr. Carlson for his years of service
shaping Copper Ridge," said Chairman William M. Sheriff. "While stepping down from
the day-to-day role of President and CEO, we are grateful for his
continued participation on the Board."
The Company also announces that Justin
Blanchet has been appointed as Chief Financial Officer. Mr.
Blanchet is a Chartered Accountant who was formerly a public
accountant with Davidson &
Company LLP. He has served as Controller for Golden Predator Corp.
and EMC Metals Corp. since February
2010. Mr. Michael O'Brien who
previously held the position of Chief Financial Officer will
continue with the Company in an advisory capacity.
The Company also announces that it has granted 365,000 incentive
stock options to directors, officers, and employees of the Company.
The options have an exercise price of $0.28 per common share, and expire on
June 24, 2015. The stock options are
subject to vesting provisions pursuant to the Company's Stock
Option Plan. Directors of the Company have also agreed to the
cancellation 57,333 stock options held by them, which were granted
in 2006 and 2008 and had exercise prices of $3.15 and $1.80.
Exploration Update
The Company is also pleased to provide an update on its current
2010 exploration program:
Duke Island
Drilling recently began on a core drilling program at Copper
Ridge's Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE)
property in southeast Alaska. As
of June 24, the first of the planned
4 to 6 holes had progressed to 408 m. The target depth for this
hole is 600 m where geophysical studies indicate that sulphide
mineralization has possibly accumulated at the base an ultramafic
complex. The current program is expected to be completed by the end
of July and results should be received by the end of August. Copper
Ridge has an option to earn up to 65 % of the Duke Island property
from Quarterra Alaska Inc.
Yukon Olympic
Drilling is also currently underway at Copper Ridge's Yukon
Olympic property located northeast of Dawson City in the Yukon Territory. Richmond Energy Corp has on
option to earn up to 65 % of the Yukon Olympic property and is
funding the current program. As of June
24, drilling was underway on the fifth hole of the planned
1,200 m program.
Babine
A 484 line kilometre ZTEM airborne geophysical survey was
completed in early May over Copper Ridge's Babine Cu-Au-Mo porphyry
property located north east of Smithers in central British Columbia. Copper Ridge has the right
to earn a 100 % undivided interest in the Babine property from 4
underlying vendors. Copper Ridge has received preliminary maps from
the survey which show several magnetic and conductive features that
indicate potential extensions of known mineralization. Geotech is
currently conducting further processing and interpretation of the
data, the results of which will be available shortly.
Mr. J. Greg Dawson, P.Geo.,
President for Copper Ridge, is the Qualified Person for the Duke
Island, Yukon Olympic and Babine projects and is responsible for
the technical content of this news release.
About Copper Ridge Explorations Inc.
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Copper Ridge Explorations Inc. is focused on advancing the Duke
Island copper-nickel-platinum-palladium project in Alaska while pursuing opportunities to expand
its portfolio of advanced exploration projects in the Yukon, Canada. By exploring quality projects
in areas of high mineral potential in mining-friendly
jurisdictions, Copper Ridge is committed to maximizing shareholder
value through discovery.
Neither 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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This press release contains
projections and forward-looking information that involve various
risks and uncertainties regarding future events. Such
forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance. There are numerous risks and uncertainties that could
cause actual results and Copper Ridge's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, Copper Ridge assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change.
SOURCE Copper Ridge Explorations Inc.