Commander Elects Five Directors and Appoints Stephen Wetherup as Vice President of Exploration
Vancouver, British Columbia – Commander Resources Ltd. (TSX-V: CMD) ("Commander") is pleased to announce that five directors have been elected at the Company's annual general meeting held June 8, 2016, in Vancouver, B.C. The Board includes returning directors Robert Cameron, Eric Norton, David Watkins, Bernard Kahlert and newly elected director Brandon Macdonald. Mr. Macdonald is a finance and mining professional with background in junior company management, governance and financing holding a B.Sc. degree in geology from UBC and an MBA from Oxford. Two former directors, Brian Abraham and Mark Lotz did not stand for reelection but remain as advisors to the Company. Commander wishes to thank them for their long and generous support to the Company during their tenure on the board.
Commander also wishes to announce the appointment of Stephen Wetherup to the position of Vice President of Exploration. Mr. Wetherup has over 20 years of global experience including work with Phelps Dodge Corporation of Canada. He is also Vice President Geology with Caracle Creek International Consulting.
Commander Resources is a Canadian focused exploration company pursuing the prospect generator model that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. (MAE-TSX.V) and Aston Bay Holdings (BAY-TSX.V). Commander also retains royalties from properties that have been partnered, optioned or sold and has created a portfolio of significant royalties on gold and copper assets. The Company is also engaged in discussions with Bearing Resources Inc. (see news release dated May 5, 2015 and reconfirmed in news release dated March 16, 2016 ) to acquire their portfolio of exploration properties and royalties for 13 million common shares of Commander and $15,000 in cash. The Company is well funded with approximately $1,000,000 in cash and in excess of $5,000,000 in marketable securities.
Stock Option Grants:
The board of directors reports the grant of 1.3 million incentive stock options to directors and officers and contractors of the Company under its stock option plan, in accordance with the Company's compensation policy. The options are exercisable for five years at a price of five cents per share and are subject to the policies of the TSX Venture Exchange.
On behalf of the Board of Directors,
President and CEO