Copper King Mining Corporation fka CPRKQ

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Press Releases



FOR IMMEDIATE RELEASE:

Copper King Mining Corporation / Western Utah Copper Corporation New Board of Directors

Salt Lake City, Utah - August 2, 2011 - The new Board of Directors of Copper King Mining Corporation (CPRKQ) announces corporate communication policy.


In light of the lack of communication and annual meetings over the history of Copper King Corporation and Western Utah Copper Corporation (WUCC) the newly elected Board of Directors has committed to provide status updates on a regular basis as it attempts to work its way through the morass of details and conflict that has led the company to its current state in Chapter 11 Reorganization.


At the end of June, the Board received word that a majority of shareholders of record voted overwhelmingly to replace the then existing board with the newly nominated members, Lee Abbott, Cherie Tilley, Gary Gough, and Scott Harmer.


Shortly after the vote, the previous Board of Directors and creditors challenged the validity and accuracy of the shares voted and filed a restraining order with the court to deny the board to be seated. The matter went before the court on July 7, 2011 where Judge Thurman ruled that the shareholders had the right to vote and that there were sufficient qualified votes, thereby affirming the results and denying the restraining petition. With the cloud of uncertainly lifted the new board is able to begin focusing on issues at hand.


The board passed a unanimous resolution to replace the Board of Directors of Western Utah Copper Corporation with the same board as constituted for Copper King. The board immediately began the discovery process, combing through stacks of past data and holding discussions with creditors, shareholders, legal counsel and employees in an effort to assess the current situation and future courses of actions.


The board is now fully engaged in the effort of taking corrective actions and working to develop solutions that will best represent the interests of the combined secured creditors, unsecured creditors, equity holders, company employees and local community stakeholders. While we face numerous challenges and issues, we are optimistic we can achieve these objectives. We appreciate the confidence of the shareholders and have dedicated ourselves to this effort. To this end, we will routinely post updates to the corporate website (http://copperkingmining.com) in an effort to maintain open channels of communication.


Forward-Looking Statements
All statements in this news release that are not based on historical fact are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. We are operating in bankruptcy and we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.
Contact: Lee Abbott, [e-mail], 801-301-8733


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