March 13, 2015) Thunderstruck Resources Ltd. (AWE: TSX-V) is pleased to provide an update on its recent corporate activities.
Board and Management
Michael L. Page, MSc., QP has been appointed to the Thunderstruck Board of Directors. Mr. Page brings extensive experience with VMS deposits similar to Thunderstruck‘s targets in Fiji, with technical and management experience in base and precious metal exploration, mining and mineral processing.
As President of Maple Minerals, Mr Page developed the reopening plan and permitted the Caribou zinc- lead-silver VMS mine before selling it to Trevali Mining. Mr Page also led the team that discovered the giant Kamoa copper deposit in the DRC Copper Belt, as well as Norilsk Nickel’s discovery of a 4.4 billion pound nickel deposit. He is a Fellow of both The Society of Economic Geologists and the Australian Institute of Mining and Metallurgy. He will continue to be the Company’s Qualified Person.
Thunderstruck is also pleased to announce the hiring of William Anthony Brook as the in-country manager of the Company’s Fiji properties. Mr Brook is a graduate of the University of Tasmania with over 40 year’s experience in the industry, including senior positions with Australian and international exploration and mining companies. Mr Brook has been working as a geologist in Fiji since 1980, and with the formation of Geopacific Limited in 1986 conducted preliminary sampling on Thunderstruck’s portfolio of properties before discovering the Tuvatu gold deposit to the northwest.
“We welcome the addition of Mike and Bill to our team,” stated Bryce Bradley, President and CEO. “Thunderstruck will rely on their respective expertise to assist us in liaising with the Fijian government and landowners, and to develop cost-effective and high-quality exploration and drilling programs.”
The Company also announces that Dale Wallster has tendered his resignation as Director due to time constraints and other corporate responsibilities. The Company thanks him for his participation as a co-founder and his important contributions to Thunderstruck’s early achievements, and wishes him success in his future endeavours.
Advance Notice Policy
The Company also reports that the Board of Directors has approved and adopted an advance notice policy (the “Policy”). The purpose of the Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company. The Policy, among other things, includes provisions requiring advance notice to the Company where nominations of persons for election to the Board of Directors are made by shareholders of the Company. The Policy fixes a deadline by which director nominations must be submitted to the Company prior to any annual or special meeting of shareholders and sets forth the information that must be included in the notice to the Company. No person will be eligible for election as a director of the Company unless nominated in accordance with the Policy.
In the case of an annual meeting, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided, however, that, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement. In the case of a special meeting called for the purpose of electing directors (whether or not called for other purposes), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The Policy is effective as of March 13, 2015. Pursuant to the terms of the Policy, the Company will seek shareholder ratification of the Policy at its next annual general meeting anticipated to be held in Q2 2015. If the Policy is not confirmed at the meeting, the Policy will terminate. The full text of the Policy is available under the Company’s profile at www.sedar.com and on the Company’s website.
In other news, the Company has entered into a transaction with Aljen (Pacific) Limited (“Aljen”), the vendor of the Company’s Fiji exploration properties, and its affiliates, and Arcadia Mining Ltd. (“Arcadia”), a former interest holder of Aljen, pursuant to which the Company will issue to Arcadia 200,000 common shares at a deemed price of $0.10 per share; acquire from Arcadia certain drill equipment for the property; pay to Aljen AUS$11,640; and amend the Company’s mineral property option and sale agreement with Aljen (see press release dated July 10, 2014) to increase the final cash payment under the option agreement by AUS$28,100, all of which will be in settlement of any and all claims or potential claims relating to the parties or the property.
2014 Nakoro Surface Exploration
Assays have been received for the remaining 90 samples for last year’s surface exploration programme. Highly anomalous values up to 1,505 ppm lead and 707 ppm zinc occur a further 250 metres east and 200 metres west of the last mineralized drill holes. The contact is still open east and west and this new information will be used for drill campaign planning.
The Company will conduct geological mapping and further trenching at Nakoro in April in preparation for its planned drill program to follow up on the successful drilling on these prospects by Anglo American in the 1970s.
The information in this Press Release has been reviewed and approved by Mr. Page, who is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mining exploration company with highly prospective VMS and Precious Metals projects in Fiji. The Company provides investors with exposure to a diverse portfolio of assets rich in copper, zinc, silver and gold in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE”.
For additional information, please visit www.thunderstruck.ca or contact:
President, Chief Executive Officer and Director
Telephone: (604) 349-8119
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This news release contains certain statements that may be deemed “forward-looking statements. Although
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