SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCQB: ECPN) announces the appointment of Clyde L. Smith, PhD, PEng, to its Board of Directors. As part of the Company’s long-term goal of expanding its Board, Dr. Smith brings both mining industry experience and expertise as an exploration geologist to the position.
Board Chairman John F. Stapleton points to Smith’s international reputation within the mining industry as well as the fact that he is very familiar with the El Capitan property—having served as the Company’s QP (Qualified Person) on several occasions over the past few years—as key reasons for this decision. The appointment is effective immediately.
Dr. Smith’s background and experience in the mining industry is extensive and diverse. He has led exploration initiatives for mining companies in Canada and the United States as well as Australia, Mexico, the United Kingdom, and Asia and has forged mining industry relationships in all parts of the world.
A scientist with strong ties to academic research applied to ore-deposit exploration, Dr. Smith’s background includes eight years as an Industrial Associate to Stanford University School of Earth Sciences, work as an explorationist, and executive positions for Toronto Stock Exchange- and Vancouver Stock Exchange-listed public companies with broad experience in prospect-generator business model, joint ventures, and exploration alliances with major companies such as Rio Tinto, Teck, and Mount Isa Mines.
Dr. Smith’s recent project work has included work as Chief Geologist for Alexander Mining, a Singapore-based entity for which he wrote the NI 43-101 report and secured $5 million financing through UOB Bank, Singapore. He also planned and directed grassroots orogenic gold exploration and drilling on a large exploration license in Papua New Guinea, where he employed an ex-Chief Geochemist of Barrick Gold Corporation and an ex-Chief Geophysicist of Newmont Mining Corporation.
He is the co-founder of Highlands Geoscience, a Canadian company that provides geological consulting services to exploration companies worldwide, as well as president of Wits Basin Precious Minerals and C.L. Smith Consultants.
According to Stapleton, “As the Company moves from exploration to mining operations, we continue to focus on the overall and long-term value of this asset. Clyde’s knowledge of the property coupled with the fact that he is so well regarded by his peers in the mining industry make him an ideal choice for a Board position.”
Dr. Smith stated, “I am happy to accept a seat on the Board of Directors of El Capitan Precious Metals and have enjoyed a long association with the Company beginning with the first 43-101 and its updates.” He added that, in light of the Company’s recent announcements related to the sale of El Capitan ore and the resulting cash flow from mining operations, “It is indeed an important time in the history of the El Capitan mine and I am pleased to contribute to the Board’s work in representing the interests of the shareholders and supporting the enhancement of the property and its potential.”
Smith joins Stapleton and ECPN President and CEO Chuck Mottley on the El Capitan Board of Directors and will be introduced at the El Capitan Annual Shareholder Meeting on March 22, 2016, in Scottsdale, Arizona.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is a mining company based in Scottsdale, Arizona, that is principally engaged in the mining of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.