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Feb. 13, 2014, 8:03 a.m. EST
Athabasca Nuclear Announces Senior Management Change
CALGARY, ALBERTA, Feb 13, 2014 (Marketwired via COMTEX) -- Athabasca Nuclear Corp. CA:ASC -4.76% ("Athabasca Nuclear" or "Corporation") is pleased to report that it has appointed Mr. Charles Downie, P.Geo. as Senior Technical Advisor to the Corporation. In conjunction with this consulting position, Mr. Downie has relinquished his executive role with the company while continuing to serve on the Board of Directors of Athabasca Nuclear.
The Corporation has appointed Mr. Ryan Kalt, Chairman of Athabasca Nuclear, to act as the Chief Executive Officer (Interim) until the Corporation's next annual meeting or until a permanent officer is appointed.
Mr. Kalt became a Director of Athabasca Nuclear in early 2012 and was instrument to the Corporation in obtaining its sector-leading mineral tenure position in the Western Athabasca Basin during 2013. Mr. Kalt is the largest shareholder of the Corporation holding 9,691,567 common shares of Athabasca Nuclear representing approximately 21.25% of its issued equity. He holds a Bachelor of Commerce (Honours) from Queen's University, a Masters of Business Administration from the University of Western Ontario, a Bachelor of Laws from the University of Western Ontario and a Masters of Law (Natural Resources, Energy and Environmental Law) from the University of Calgary. He concurrently serves as the Chief Executive Officer of Gold Royalties Corporation, a publicly-traded gold royalty company. Mr. Kalt is a Barrister & Solicitor and an active member of the Law Society of Alberta.
"Athabasca Nuclear is at an important stage of its growth and I look forward to furthering the Corporation's strategy in the best interests of fellow shareholders. I would also like to thank Mr. Downie for his valued contributions to-date. I am particularly excited to have him consult for the Corporation as Senior Technical Advisor in a move that will enable his time to be reserved for and concentrated on geological aspects of our business," stated Ryan Kalt, Chairman and Chief Executive Officer (Interim) of the Corporation.
Shareholder Update Regarding Website
Athabasca Nuclear is also pleased to report that it has launched a new company website. The new website features additional content that will be helpful for shareholders to understand and monitor their investment in Athabasca Nuclear. It may be accessed by visiting www.AthabascaNuclear.com .
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation CA:ASC -4.76% is a junior uranium exploration company focused on the exploration and advancement of its significant uranium portfolio in Saskatchewan including the Preston Lake, Patterson Lake East, Botham Lake, Parry Lake, Martin River, Karras River and Spring uranium projects. For more information on each of these projects, please visit www.AthabascaNuclear.com .
Athabasca Nuclear is the Operator of the Western Athabasca Syndicate, a group exploration effort of a 287,130 hectare (709,513 acre) package of uranium properties which is the largest land position along the highly prospective margin of the Western Athabasca Basin controlled by a single group (the "Preston Lake Project"). Under the terms of the agreement, each of the member companies have an option to earn 25% of the five uranium properties comprising the Western Athabasca Syndicate Partnership by making a series of cash payments, share payments and incurring their pro-rata amount of the total $6,000,000 in exploration expenditures over the two-year earn-in term of the agreement. The properties were acquired for their proximity to the Patterson Lake South discovery and interpreted favorable geology for the occurrence of Patterson Lake South-style uranium mineralization. The bulk of the syndicate land package is bisected by all-weather Highway 955 which runs north through the Patterson Lake South discovery to the former Cluff Lake uranium mine.
Ryan Kalt, Chief Executive Officer (Interim)
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast 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.