Kivalliq Strengthens Operational Team; Dale Wallster Joins Board of Directors
January 19, 2012
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today announced the following additions to the leadership team: Dale Wallster has joined the board of directors; Andrew Berry has been appointed Chief Operating Officer; and Bill Cronk appointed Exploration Manager. The Company’s board and executive are focused on advancing the Lac Cinquante Uranium Deposit and demonstrating the mineral potential of the Angilak Property in Nunavut, Canada.
“Kivalliq’s board is constantly seeking ways to enhance shareholder value through exploration, team building and corporate development opportunities. We are excited to have added such depth to our team with these appointments, and we see these individuals playing a very big role in Kivalliq’s future success,” stated Jim Paterson, CEO. “Dale has many decades of experience in mineral exploration, most recently in the uranium sector as a key player in the success of Hathor Exploration. Andrew and Bill both have considerable expertise in the management of large scale exploration and logistical projects in Canada’s north.”
New Board Addition
Dale Wallster is a geologist and a prospector with over 30 years experience in North American mineral deposit exploration, with a focus on the targeting and discovery of unconformity-related uranium deposits since 2002. He was president and founder of Roughrider Uranium Corp., a company acquired by Hathor Exploration Limited in 2006 for its 1,000,000 acres of strategically located uranium properties in the Athabasca Basin. Dale and his team are widely credited in the mineral exploration sector for the discovery of the Hathor’s Roughrider deposit. In January 2012, Hathor became a wholly-owned subsidiary of Rio Tinto as part of a CAD$650 million acquisition. Kivalliq will benefit greatly from Dale’s guidance at a board level.
Stronger Operational Team
Andrew Berry joined Kivalliq Energy Corp. in April 2009 as Project Manager and most recently held the position of VP, Operations where he was responsible for overseeing, on budget, Kivalliq’s $17M exploration program at Angilak. He holds a technical diploma in exploration geology from Sir Sandford Fleming College in Ontario. He has more than 25 years of global experience in all aspects of mineral exploration and development; including surface and underground precious metal, base metal and diamond deposits. He was an integral member of Flanagan McAdam Ltd. and the Muscocho Group, developing mining projects in Ontario, British Columbia and the Yukon. As Project Manager with Ashton Mining of Canada Inc. and Stornoway Diamond Corp., he gained more than 15 years of logistical experience exploring and operating in Canadian Arctic environments. Andrew is well suited for his expanded role as Chief Operating Officer.
Bill Cronk, P.Geo., has over 23 years of experience as a geologist and manager of exploration programs for precious metals, base metals, and uranium deposits. Bill has worked in Africa, Europe, North and South America; with more than 9 years of combined exploration experience in Alaska and the Canadian Arctic. Bill’s level of expertise ranges from grass roots reconnaissance right up to advanced stage and pre-feasibility work. While working for companies such as Dundee Precious Metals, Placer Dome, BHP and Noranda Inc., Bill’s gained management experience with business development, project generation, program design, budget implementation, project management, and corporate and government compliance. In a previous role as an exploration manager for Homeland Uranium, Bill’s primary goals centered on uranium exploration in Niger’s “Tim Mersoi Basin”, and project development of rhyolite hosted uranium in Peru’s “Macusani Plateau”.
Stock Options Grant
Stock options have been granted to directors and officers of Kivalliq, in accordance with the terms and conditions of the stock option plan of the Company, entitling them to purchase 3,350,000 shares at the price of $0.50 per common share expiring January 19, 2017
About Kivalliq Energy Corporation
Kivalliq Energy Corporation is a uranium exploration and development company, and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut.
Kivalliq’s 225,000 acre Angilak Property in Nunavut hosts the high-grade Lac Cinquante deposit, along with multiple highly mineralized target areas. With an NI 43-101 Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U3O8, totalling 27.13 million pounds U3O8, (15.2 pounds U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s highest grade uranium deposit outside of the Athabasca Basin.
Since acquiring the Angilak Property in 2008, Kivalliq has invested approximately $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 meters of RC and diamond drilling.
On behalf of the Board of Directors
“Jim Paterson”
James R. Paterson, CEO
Kivalliq Energy Corporation
For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com (m.kivalliqenergy.com) or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected].
Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies, for more information please visit www.auroraresource.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.