HALIFAX, Nova Scotia, February 19, 2013 /PRNewswire/ --
On behalf of the Board of Directors of Stockport Exploration Inc. (TSX: SPT) (OTC: LMTCF) Wade K. Dawe, Chairman, is pleased to announce the appointment of Zephaniah (Zeph) Mbugua as a Director of Stockport Exploration, effective February 18, 2013.
Mr. Mbugua is a resident of Nairobi, Kenya and Chairman of TransCentury, a leading Kenyan investment company traded on the Nairobi Securities Exchange. Mr. Mbugua is also a founder and currently the Chief Executive Officer of Abcon Group of Companies, a diversified group of companies involved in chemicals and the manufacturing of breakfast cereals. He is also the Chairman of East African Cables (K) Ltd., as well as a director of Proctor & Allan EA Ltd., Flashcom Ltd. and Zeniki Investment Ltd. Mr. Mbugua has a BSc in Chemistry and Mathematics from Makerere University.
Stockport's flagship project is a district size concession representing 2,020 km2 primarily covered by the Lake Victoria Greenstone Belt. This highly prospective Archean Greenstone belt represents a unique geology. Historically, other Archean Greenstone belts of similar geology in the world have produced a significant number of large-scale mine operations. To date, limited modern exploration has been undertaken in Kenya.
"Kenya is the primary focus for our company. It has been our objective for some time now to be able to add a board member from Kenya of Mr. Mbugua's caliber," said Jim Megann, Stockport Exploration's President and CEO. "We specifically sought out Mr. Mbugua to join our Board to help Stockport ensure we continue to deliver value to our shareholders while benefiting Kenya."
Mr. Mark Welton has resigned from the Board of Stockport. The Company would like to thank Mark for his significant contributions over his years of service. Mr. Welton will remain as a consultant to Stockport.
About Stockport Exploration Inc.:
Stockport is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,020 km2 property package has the potential to host multiple mineral deposits, including Lode-Au and Cu-Zn-Au-Ag massive sulphide types. Stockport also holds the La Morena Copper-Silver property in Coahuila, Mexico, the Seymour Lake Tantalum-Lithium-Beryllium property near Armstrong, Ontario, and the KM61 property, which hosts a 43-101 Compliant Molybdenum-Copper-Silver Resource, also near Armstrong, Ontario.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The likelihood of future mining at the Nyanza Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives, as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Nyanza Project and there is no assurance that the mineralization at the Nyanza Project will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at http://www.sedar.com
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SOURCE Stockport Exploration Inc