Commander Resources Announces Management Change and Stock Options Grants
Vancouver, British Columbia – Commander Resources Ltd. (TSX-V: CMD) ("Commander") is pleased to announce that the Board of Directors has appointed Robert Cameron, P.Geo., as President and Chief Executive Officer effective March 15, 2016 following the retirement of Eric Norton. Mr. Norton will remain engaged as an active member of the Board of Directors. Mr. Cameron had has been a director since, July 8, 2015.
Mr. Cameron has over 30 years of international experience in the mining industry including positions as President and CEO of Valley High Ventures and Bearing Resources Ltd. as well as Vice-President and Manager of exploration for Phelps Dodge Corporation of Canada Limited (a then subsidiary of Freeport McMoRan Copper and Gold Inc.). In addition he has extensive market and finance experience including a term as mining analyst for Research Capital. He is a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Mr. David Watkins, Chairman of Commander states,"On behalf of the Board, I would like to thank Eric for all of his hard work over the last six years. During his tenure the Company has weathered the current downturn in the exploration sector and has positioned Commander to be in a strong position to grow as the sector revives. I am very pleased that he has agreed to remain a Director. I also enthusiastically welcome Rob in his new role with the Company and look forward to working with him in his new role."
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a large 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.
As part of this renewed focus on prospect generation, the Company had previously announced that it was acquiring the mineral assets of Bearing Resources for 13 million common shares of Commander and $15,000 in cash as Bearing intended to pursue unrelated opportunities (see news release dated May 5, 2015). Commander hopes to complete this transaction in the coming quarter and has been working closely with Bearing, who has reiterated their intent in a news release dated March 14, 2016.
Stock Option Grants
The Board of Directors reports the grant of 4,000,000 incentive stock options to directors and officers 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 $0.05 per share, and are subject to the policies of the TSX Venture Exchange.
On behalf of the Board of Directors,
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.