Vancouver, British Columbia - (Accesswire) - August 19th, 2013 - The Board of Directors of Premium Exploration Inc. (TSX-V:PEM; OTCQX:PMMEF) ("Premium" or the "Company"), is pleased to announce the appointment of Mr. John Ryan as the new President & CEO of Premium. As part of a broader re-organization plan, Mr. Del Steiner remains as Chairman of the Board, and will assist the Company through this transition period.
Mr. Ryan has over 20 years of extensive international mining and business experience. He completed a Bachelor degree in Mining Engineering at the University of Idaho, during which time he worked at the various mines within the district including the Consolidated Silver Mine operated by Hecla Mining, and the Galena Mine, then operated by ASARCO, Inc. Upon completion of his engineering studies Mr. Ryan served four years as a U.S. Naval Officer, and subsequently completed a Juris Doctor degree at Boston College Law School.
Throughout his career, Mr. Ryan has founded several resource companies including Royal Silver Mines, Inc. which explored and developed a number of silver and copper mining properties in North Idaho, Mexico and Chile, and he co-founded Metalline Mining in 1996 which owns the Sierra Mojada land package in Mexico, this company is now known as Silver Bull Resources. In 2002 Mr. Ryan co-founded Western Goldfields, Inc. which successfully purchased the Mesquite Mine in Southern California from Newmont Mining. Western Goldfields is now a part of New Gold with one of the prime operating assets being the Mesquite Mine.
In 2006 Mr. Ryan co-founded U.S. Silver Corporation which successfully negotiated the acquisition of all of the North Idaho assets of Coeur d'Alene Mines Corporation. These assets included the operating Galena Mine, the Coeur Mine on care and maintenance, more than 8,000 acres of prime silver mining claims, 2 operating mills and 4 major vertical shafts, three of which are in excess of one mile of depth. The Galena Mine has been in continuous production since the acquisition and produces approximately 2.5 million ounces of silver annually along with substantial lead and copper.
Mr. Ryan is currently a consultant for the Electrum Group out of Denver and is responsible for reviewing and recommending new acquisitions.
"We are very excited to have John join the Premium team given his extensive network and related business experience. John is well known for providing strategic plans for exploration companies, and he will work closely with Premium's management team and Board to ensure the further development of the Idaho Gold Properties." Stated Del Steiner, Premium's Chair.
"I am pleased and very excited to join the Premium team and drive the exploration and development of its properties ahead. The Oro Grande shear zone over which the company has a controlling land position has the hallmarks of hosting a very major gold system of world class magnitude. Our goal in this more difficult market environment will be to pursue early development and production opportunities on our ground as well as continuing the exploration of the entire property package. I strongly believe that the current market weakness in junior mining equities presents a unique challenge to managements and boards to develop strategies to preserve the value which has been created, and also to continue to advance the projects judiciously until the market sentiment improves." Stated John Ryan.
About Premium Exploration Inc.
Premium is focused on the exploration and development of its district-sized Orogrande Shear Zone "OSZ" to fulfill its vision of developing a new mining district in North America. The OSZ is a 30 km-plus regionally-significant structure that correlates with multiple known zones of mineralization. This structural control to gold mineralization has characteristics similar to many large gold belts, such as the Carlin Trend of Nevada. Exploration is ongoing at the Friday-Petsite deposit; the most advanced of several known mineralized zones located along the OSZ. The Friday-Petsite deposit represents less than four percent of the OSZ under Premium's control.
For additional information, please visit us at http://www.premiumexploration.com
For More Information Please Contact:
-------------------------------------------------------------- |Mr. Del Steiner President & Chief |Ms. Christine Kopr | |Executive Officer Premium |Corporate Communications | |Exploration Inc. P: (604) 682-0243|Opes Capital Inc. P: | |F: (604) 682-2499 E: |(604) 682-0243 F: (604) | |[email protected] |682-2499 E: | |[email protected] |[email protected] | | |www.opescapitalinc.com | --------------------------------------------------------------
This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.