Pele Mountain Resources Inc. ("Pele" or the "Company") announced today that it has retained the services of Fergus Kerr, P. Eng., as a technical and operations consultant to assist the Company with the development of its Elliot Lake Uranium Project in Northern Ontario. Mr. Kerr has more than 35 years of mining industry experience, including over 14 years working as Mine Superintendent, Manager of Mining, and General Manager for Denison Mines Limited, during the time Elliot Lake was a producing mining camp. Mr. Kerr will provide engineering and technical advice and will develop, implement, and oversee operational protocols at Pele's Elliot Lake project.
Pele President and CEO Al Shefsky stated, "We are determined to develop our Elliot Lake project into a world-class uranium mine. Mr. Kerr adds key technical and operational skills and a wealth of production experience in the Elliot Lake camp to help us achieve this objective. On behalf of the Board of Directors, I am very pleased to welcome Mr. Kerr to Pele Mountain."
Technical, economic, and environmental scoping studies and other exploration assessments continue to advance at Elliot Lake under the supervision of Scott Wilson Roscoe Postle Associates ("Scott Wilson RPA"). The studies are focused on determining the optimal mining and processing methods for the deposit while establishing an effective environmental management plan. Assay results from Pele's initial 22-hole drill program are expected next week.
About Pele Mountain Resources
Pele Mountain Resources is focused on developing a world-class mining and processing facility at its 100-percent owned Elliot Lake Uranium Project in Northern Ontario. The project hosts a NI 43-101 compliant inferred resource of over 33 million pounds of U 3 O 8 with the potential for significant near-term upgrade and expansion. Scott Wilson RPA is collaborating with experienced professionals from a wide range of disciplines to lead its recommended technical, economic, and environmental scoping studies.
The Elliot Lake camp was once known as "the uranium capital of the world" and has produced more than 270 million pounds of U 3 O 8 from stratigraphically-bound deposits that demonstrate remarkable consistency over extensive areas. The uranium market is currently experiencing unprecedented price gains due to surging global demand and increasingly uncertain supply.
Pele also holds a diverse portfolio of gold, diamond, and base metal projects located across Northern Ontario, including the Highland Project where drilling has outlined several high-grade, narrow-vein gold zones within an historic mining camp. Through project generation and mineral discovery, Pele provides shareholders with exposure and leverage to the ongoing bull market in natural resources. Pele stock trades on the TSX Venture Exchange under the symbol "GEM".
The TSX-V has not reviewed and does not accept 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 Pele's future plans, objectives or goals, including words to the effect that Pele 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 such statements.