Experience Spans Nearly Four Decades in
Mining SectorNew COO Will Lead Graphite One’s
Alaska Operations
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, President & 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.
______________________________
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.
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