IM Exploration Appoints Richard L. Bedell to Technical Advisory Committee
Mr. Bedell has 40 years of international exploration experience with some of the largest mining companies in the world. He has previously held positions with Homestake Mining as part of their global target selection team, and later ran their technical group for exploration worldwide. Over his long career Richard has also done exploration for international majors BP Minerals and Rio Tinto.
Mr. Bedell was also a Co-Founder of AuEx Ventures, which was credited with discovering the Long Canyon deposit in Nevada, and ran the exploration program for 2 years after joint venturing to Fronteer Gold, who later purchased AuEx for $280 million. Fronteer Gold was later sold to Newmont Mining in a $2.3 billion deal. He also was a Co-Founder and President of Renaissance Gold, the spinout of AuEx, a gold exploration company focused on the Great Basin area of the U.S.; the company recently merged with Evrim Resources to create Orogen Royalties.
Colin Moore, President of IM Exploration, noted: "We're thrilled to have Mr. Bedell agree to join the Company in a technical advisory capacity. Having a bonified industry veteran with past discovery success in Nevada see merit in our projects speaks to their potential."
Mr. Bedell is currently Chairman of the Board of TerraCore Inc., a leading international drill core imaging technology company with offices in Reno, Nevada and Johannesburg South Africa. He is a recognized expert in remote sensing and geo-spatial technologies, and is a registered member of the Society for Mining, Metallurgy and Exploration, a Fellow of the Society of Economic Geologists, a member of the Geological Society of America, Founding Member of the Geological Remote Sensing Group, and a member and past President of the Geological Society of Nevada. Richard has also worked for the European Space Agency on geologic applications of radar, and for NASA on meteorites and as an advisor on new radar systems.
Mr. Bedell is a graduate from the School of Natural Sciences & Mathematics at Hampshire College in Massachusetts with a B.A., earned an M.Sc. in Economic Geology from the University of Toronto, and earned a second M.Sc. in Remote Sensing and GIS from the University of London.
The Company has granted an aggregate of 200,000 options to Richard L. Bedell pursuant to the Company's stock option plan. The options, which vest immediately, are exercisable at a price of $0.24 per IM share for a period of five (5) years from the date of grant.
About IM Exploration
IM Exploration is a mineral exploration company focused on developing the Toiyabe and Turquoise Canyon Projects located in the Cortez Hills area of Lander County, Nevada. The Company is also advancing the Mulloy Project in Northern Ontario. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
For further information contact:
Raymond D. Harari
Chief Executive Officer
IM Exploration Inc.
The Company's securities issued pursuant to the Transaction have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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