Kivalliq Appoints Jeff Ward as V.P. Exploration and Garth Kirkham to the Board
November 12, 2008
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) today announced the appointments of Jeff Ward, BSc, P.Geo as Vice President, Exploration and Garth Kirkham, BSc, P.Geo, P.Geoph to the Board of Directors of Kivalliq, effective immediately.
“As 25 year veterans of the exploration and mining industry, mssrs Ward and Kirkham bring a wealth of experience and knowledge to our growing team,” stated John Robins, President & CEO of Kivalliq.
Mr. Ward obtained a Bachelors of Science degree in Geology from the University of Western Ontario and is a registered professional geologist in British Columbia and Alberta. He has 25 years experience exploring for base metals, precious metals and diamonds with companies such as Corona Corporation, Ashton Mining of Canada Inc. and Stornoway Diamond Corporation, where he worked on reconnaissance to advanced-stage projects throughout Canada’s north. As regional Project Manager, Mr. Ward directed exploration programs in the Northwest Territories and Nunavut for over eight years and was responsible for program design, supervision, compliance, joint venture management and stakeholder relations.
Mr. Kirkham obtained a Bachelor's degree in Science from the University of Alberta in 1983, completing his degree with majors in Geophysics, Geology and Mathematics. He is the principal of Kirkham Geosystems which specializes in 3D computer modeling and resource / reserve estimations at the preliminary assessment, pre-feasibility and feasibility study stages of mining projects. In addition, he is the past-Chair of the Mineral Deposits Division of the Geological Association of Canada and is currently serving on national council.
The Board has approved the grant of 2,655,000 incentive stock options, exercisable at CDN$0.15 per share over a five-year period. Of the 2,655,000, 1,950,000 are issued to Directors and Officers. The options vest in equal installments over the next four quarters.
In addition, Kivalliq has agreed, subject to regulatory approval, to issue 250,000 shares to Canaccord Capital Corporation for Fiscal Advisory services.
About Kivalliq Energy
Kivalliq Energy Corporation is a new uranium exploration and development company with a unique opportunity. Kivalliq is the first company in Canada to sign a comprehensive agreement to explore on Inuit Owned Lands for uranium.
Through this landmark partnership with the Inuit of Nunavut, Kivalliq is now exploring the highly prospective, 250,000 acre Angilak property in the Nunavut Territory, Canada. Kivalliq’s core asset is the Lac Cinquante Uranium Deposit, reported to contain 11.6 million pounds of uranium oxide with grades averaging 1.03% U3O8 (non compliant with National Instrument 43-101)**. This historic, high grade deposit, which remains untested at depth and along strike, and 75 other uranium occurrences on the property, comprise Kivalliq’s Angilak Project.
On behalf of the Board of Directors
John Robins, P.Geo.
President and CEO
Kivalliq Energy Corporation
For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269 or directly at 604.646.4534.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
** The quoted disclosure for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd. This estimate is historical and should not be relied upon since it is not compliant to standards set out in National Instrument 43-101. However, it is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. A Qualified Person has not classified historical estimates as current mineral resources/reserves, and Kivalliq is not treating them as current mineral resources/reserves since work to date has not verified the historical estimates. Kivalliq has not done any work to confirm these estimates but will be planning exploration programs aimed at evaluating the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being delineated as a mineral resource.
Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.