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Monday, February 19, 2007 9:54:47 AM
Pacifica Resources Appoints McClintock as President and CEO of Savant
08:15 EST Monday, February 19, 2007
FSC / Press Release
http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...
Pacifica Resources Appoints McClintock as President and CEO of Savant
Vancouver, British Columbia CANADA, February 19, 2007 /FSC/ - Pacifica Resources Ltd. (PAX - TSX Venture), is pleased to announce the appointment of Jack McClintock as the President and CEO of Savant Explorations Ltd., the company to be created through the previously announced reorganization of Pacifica (see January 29, 2007 news release).
With over 30 years in the mineral exploration business, Jack McClintock has a wide variety of experience including senior management positions with major mining and junior mining companies, including global Exploration Manager for BHP Billiton. Jack brings with him a proven track record of discovery having lead teams responsible for a number of major discoveries, including the Spence copper mine in Chile recently commissioned by BHP Billiton. The Spence mine is projected to produce over 200,000 tonnes of copper cathode per year.
Under Mr. McClintock's leadership, building on the assets acquired from Pacifica, Savant will be an aggressive explorer, dedicated to creating value by focused early stage exploration in districts and areas with known potential for high margin deposits. The Company's activities will be aimed at earlier stage projects globally, and utilize the experience of a skilled exploration team to take these projects through discovery to capture the high discovery value of significant deposits.
Savant's strategy is to assemble a team of proven explorers and use pragmatic, traditional exploration methods to identify high potential districts, acquire mineral rights and execute exploration programs designed to quickly lead to discovery. Savant will carry out the initial low cost exploration to the point of a discovery hole, and then seek a major partner through a non public sale process. The buyer would finance the advancement of the project with Savant retaining an interest in the discovery property.
Pacifica intends to complete the plan of arrangement and distribute the Savant shares to its shareholders in June 2007. Additional information on the Plan of Arrangement reorganization plan will be available in an information circular to be mailed to shareholders in advance of an Extraordinary and Annual General meeting of the shareholders to be held in June to approve the Plan of Arrangement. The reorganization of Pacifica's assets will be subject to regulatory and shareholder approval.
Pacifica is a junior resource company focused on exploration and development of the Selwyn Zinc-Lead Project. Pacifica completed a $21 million exploration, environmental and engineering program on the Selwyn Project in 2006. Recently, Pacifica released a Preliminary Assessment study for the development of the project that based on the assumptions in the report, the Selwyn Project could form a large potentially viable open pit zinc-lead mine.
This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of the new discovery areas and expansions of the current resource areas. Furthermore, there is no assurance that the resources being defined can be developed as an economically attractive mine, and there are many uncertainties associated with permitting and other factors that could delay such development.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
-30-
For more information contact:
Dr. Harlan Meade, President and CEO
Jasmin TamDoo, Manager of Investor Communications
Telephone: (604) 682-5474
Toll-free: 1-877-682-5474
International Toll-free: 800-8682-5474
Facsimile: (604) 682-5404
info@pacifica-resources.com
www.pacifica-resources.com
Pacifica Resources Ltd.
#701 - 475 Howe Street
Vancouver, British Columbia
Canada V6C 2B3
News Release - 2007-10
News By Filing Services Canada, Distributed By The Richmond Club
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
08:15 EST Monday, February 19, 2007
FSC / Press Release
http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...
Pacifica Resources Appoints McClintock as President and CEO of Savant
Vancouver, British Columbia CANADA, February 19, 2007 /FSC/ - Pacifica Resources Ltd. (PAX - TSX Venture), is pleased to announce the appointment of Jack McClintock as the President and CEO of Savant Explorations Ltd., the company to be created through the previously announced reorganization of Pacifica (see January 29, 2007 news release).
With over 30 years in the mineral exploration business, Jack McClintock has a wide variety of experience including senior management positions with major mining and junior mining companies, including global Exploration Manager for BHP Billiton. Jack brings with him a proven track record of discovery having lead teams responsible for a number of major discoveries, including the Spence copper mine in Chile recently commissioned by BHP Billiton. The Spence mine is projected to produce over 200,000 tonnes of copper cathode per year.
Under Mr. McClintock's leadership, building on the assets acquired from Pacifica, Savant will be an aggressive explorer, dedicated to creating value by focused early stage exploration in districts and areas with known potential for high margin deposits. The Company's activities will be aimed at earlier stage projects globally, and utilize the experience of a skilled exploration team to take these projects through discovery to capture the high discovery value of significant deposits.
Savant's strategy is to assemble a team of proven explorers and use pragmatic, traditional exploration methods to identify high potential districts, acquire mineral rights and execute exploration programs designed to quickly lead to discovery. Savant will carry out the initial low cost exploration to the point of a discovery hole, and then seek a major partner through a non public sale process. The buyer would finance the advancement of the project with Savant retaining an interest in the discovery property.
Pacifica intends to complete the plan of arrangement and distribute the Savant shares to its shareholders in June 2007. Additional information on the Plan of Arrangement reorganization plan will be available in an information circular to be mailed to shareholders in advance of an Extraordinary and Annual General meeting of the shareholders to be held in June to approve the Plan of Arrangement. The reorganization of Pacifica's assets will be subject to regulatory and shareholder approval.
Pacifica is a junior resource company focused on exploration and development of the Selwyn Zinc-Lead Project. Pacifica completed a $21 million exploration, environmental and engineering program on the Selwyn Project in 2006. Recently, Pacifica released a Preliminary Assessment study for the development of the project that based on the assumptions in the report, the Selwyn Project could form a large potentially viable open pit zinc-lead mine.
This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of the new discovery areas and expansions of the current resource areas. Furthermore, there is no assurance that the resources being defined can be developed as an economically attractive mine, and there are many uncertainties associated with permitting and other factors that could delay such development.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
-30-
For more information contact:
Dr. Harlan Meade, President and CEO
Jasmin TamDoo, Manager of Investor Communications
Telephone: (604) 682-5474
Toll-free: 1-877-682-5474
International Toll-free: 800-8682-5474
Facsimile: (604) 682-5404
info@pacifica-resources.com
www.pacifica-resources.com
Pacifica Resources Ltd.
#701 - 475 Howe Street
Vancouver, British Columbia
Canada V6C 2B3
News Release - 2007-10
News By Filing Services Canada, Distributed By The Richmond Club
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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