Experience Spans Nearly Four Decades in Mining Sector New COO Will Lead Graphite One’s Alaska Operations
VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) -- Graphite One Resources Inc. (GPH:TSX-V) (GPHOF:OTCQB) (“Graphite One” or the “Company”) announced today the appointment of Stanley Foo as Chief Operating Officer (COO) of the Company’s wholly-owned Alaskan subsidiary, Graphite One (Alaska) Inc., effective immediately. Mr. Foo will lead Graphite One’s Alaska operations, operating out of Anchorage.
“Stan’s appointment adds an experienced mine developer and operator to our Graphite One team,” said Anthony Huston, President and CEO of Graphite One. “As we move into the next phase of development, adding an accomplished COO, with deep experience in Alaska mining is critical for us. And with our proposed mine and processing facilities potentially creating substantial employment, we expect Stan to be followed by many more Alaskans joining Graphite One as the project advances.”
“I am excited to join the Graphite One team and look forward to taking this project forward. Development of the Company’s high-quality graphite resource has the potential to create an important strategic asset for the United States, a key ingredient for a clean energy future and a potential economic engine for the Seward Peninsula and Alaska. It is the right project at the right time in Alaska, a jurisdiction that is supportive of mining,” said Mr. Foo.
With more than 35 years in the mining sector, including 21 years in Alaska, Stan has served as President and General Manager for Donlin Gold LLC, General Manager for Alaska Gold Torrent, Chief Geologist and General Superintendent for Cortez Gold Mines (Nevada) and Project Manager roles with Placer Dome and Barrick Gold Corporation. He also served as Mining Section Chief at the Alaska Department of Natural Resources and is widely respected for his ability to build durable working relationships with state and federal regulatory agencies and Alaska Native stakeholders.
Mr. Foo is active in Alaska trade organizations and advisory groups including Alaska Miners Association, Resource Development Council for Alaska and BLM Alaska Resource Advisory Council. He also serves on the board of the Iditarod Trail Committee, which organizes and oversees the Iditarod Sled Dog Race from Anchorage to Nome annually.
Stan holds a Bachelor’s Degree in Geology from Hamilton College.
The Company’s board of directors has approved an incentive stock option grant to Mr. Foo for the purchase of 1,000,000 shares of Graphite One in accordance with the Company’s shareholder approved stock option plan. The options are exercisable at a price of $0.06 per share, all vesting immediately and expiring on June 11, 2023.
The Company’s appointment of a COO to its wholly-owned Alaskan subsidiary comes as the focus on graphite as a critical mineral increases, with graphite being included in the newly promulgated U.S. Government’s Critical Mineral List Report 1 . As noted in the Company’s press release of May 29, 2018 , graphite is one of 14 listed minerals for which the US is 100% import-dependent. In addition, the Report noted that graphite is one of only 3 critical minerals which meet all the U.S. Government’s industrial/defense sector indicators – and for which China is the leading global producer and leading U.S. supplier.
About Graphite One Resources Inc.
GRAPHITE ONE RESOURCES INC. (TSX-V: GPH ) (GPHOF:OTCQB) continues to develop its Graphite One Project (the “Project”), whereby the Company could potentially become an American producer of high grade Coated Spherical Graphite (“CSG”) that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade CSG primarily for the lithium-ion electric vehicle battery market. As set forth in the Company’s Preliminary Economic Assessment, potential graphite mineralization mined from the Company’s Graphite Creek Property, is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. CSG and other value-added graphite products, would likely be manufactured from the concentrate at the Company’s proposed graphite product manufacturing facility, the location of which is the subject of further study and analysis. The Company intends to make a production decision on the Project once a feasibility study is completed.
ON BEHALF OF THE BOARD OF DIRECTORS "Anthony Huston” ( signed )
For more information on Graphite One Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com or contact:
Anthony Huston CEO, P resident & Director Tel: (604) 697-2862 Email: AnthonyH@GraphiteOneResources.com
Investor Relations Contact 1-604-684-6730 GPH@kincommunications.com
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.
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts , are forward-looking statements.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “proposes”, “expects”, or “is expected”, “scheduled”, “estimates”, “projects”, “intends”, “assumes”, “believes”, “indicates” or variations of such words and phrases that state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking information in this release includes, but is not limited to, statements regarding the stage and progress of development of the Graphite Creek Project including the ability to actually produce spherical graphite and the impact of the appointment of the COO, ultimate further and final results of additional test-work, estimated capital and sustaining costs and the availability of equipment, labour and resources required, the anticipated applications of graphite in high-tech, clean tech, energy storage and national security applications and all other anticipated applications, international demand and ability to transport and enter into such markets, are all forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: (i) volatile stock price, (ii) the results of the product development test work may not be indicative of the advancement of the project as anticipated, or at all, (iii) market prices, (iv) exploitation and exploration successes, (v) continuity of mineralization, (vi) uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, (vii) changes in government policies regarding mining and natural resource exploration and exploitation, (viii) competition faced in securing experienced personnel, access to adequate infrastructure to support mining, processing, development and exploration activities and continued availability of capital and financing, and (ix) general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com .
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1 Draft Critical Mineral List—Summary of Methodology and Background Information—U.S. Geological Survey Technical Input Document in Response to Secretarial Order No. 3359.
