Vancouver, BC — Medallion Resources Ltd. (TSX.V: MDL) today announced the appointment of two Rare Element Resources Ltd. (TSX-V: RES) executives, James Clark, VP Exploration, and Mark Brown, Chief Financial Officer and Director, to its Advisory Board.
“I am thrilled that Jim and Mark have agreed to join our Advisory Board and I look forward to working closely with them,” said Bill Bird, Medallion’s President and CEO. “Together they will add important technical and financial expertise to our company, and assist significantly in making Medallion a pre-eminent rare-earth-element company.”
Jim Clark, PhD brings to Medallion 30 years of experience in a broad cross-section of mineral exploration, including rare-earth elements (REE’s) and is Vice-President of Exploration for Rare Element Resources, owner of the Bear Lodge, Wyoming, REE project. Dr. Clark has a strong field and laboratory orientation, with extensive experience in managing exploration programs for REE’s, niobium, gold, base metals, and industrial minerals. He has worked for Molycorp Inc’s REE program and played a key role in Hecla Mining Company’s identification of the Bear Lodge REE resource. Dr. Clark is the owner and Chief Geologist of Applied Petrographics, Inc, a consulting company he formed in 1998 to provide petrographic and micro-analytical services to the mining industry. He holds a PhD from the University of Oregon and is an NI 43-101 Qualified Person licensed in the State of Washington.
Mark Brown brings financial expertise as CFO of Rare Element Resources as well as the president of Vancouver-based Pacific Opportunity Capital Ltd. Pacific Opportunity is a financial-consulting and merchant-banking firm active in North American venture-capital markets. Mr. Brown is also an officer and director of a number of public and private companies, including Rare Element Resources, Animas Resources Ltd (TSX-V: ANI), Pitchstone Exploration Ltd (TSX-V: PXP), and Tarsis Resources Ltd (TSX-V: TCC). His corporate activities include merger and acquisition transactions, financings and corporate financial planning. Mr Brown’s past experience includes managing financial departments of two TSE 300 mining corporations: Eldorado Gold Corporation and Miramar Mining Corporation.
Medallion Resources Ltd (TSX-V: MDL) explores for rare-earth elements, which are required by many new energy-saving technologies. Increasing interest in energy conservation and environmental protection are fuelling intense interest in, and public awareness of these critical commodities. As understanding and demand increases, Medallion is well positioned to take part in potential breakthroughs in the exploration for these rare metals.
The Eden Lake REE property is Medallion’s first acquisition. Eden Lake is a recent discovery and one of the ten-most-promising North American REE prospects. A large mineralized area, high geochemical values and multiple-mineralization styles support a number of targets for REE mineralization over a large surface area. Elevated values of neodymium, one of the more valuable REE’s, indicate a potential for concentrations of this more-valuable REE. The property is located 20 kilometres northwest of the town of Leaf Rapids in western Manitoba, which offers supportive regional infrastructure & logistics. Eden Lake is close to roads and hydroelectric power. According to the Fraser Institute, mining-friendly Manitoba is considered one of the best jurisdictions in the world for exploration and mining. The property is expected to present few permitting, environmental or social concerns.
ON BEHALF OF THE BOARD OF DIRECTORS
“William H Bird”, PhD, PGeo,
President & CEO
For Further Information: check Medallion’s web site www.medallionresources.com or contact:
William H Bird
Tel.: (888) 827-6611
Erica C Bearss
Tel.: (604) 681-9558
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. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential acquisitions. Also, in order to proceed with the Company’s exploration plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company’s plans.