APD Advanced Primary Minerals Corporation

Erdene Resource Development Corp. ("Erdene" or the "Company") (TSX:ERD) and
Advanced Primary Minerals Corp. ("APM") (TSX VENTURE:APD) are pleased to provide
an update on the proposed transaction that would result in the separation of
Erdene's North American and Mongolian assets into two public companies.


Morien Resources Corp. has been selected as the new name for Amalco (successor
to Advanced Primary Minerals Corp.) subject to receiving all requisite
approvals. Morien Resources Corp. will hold all of Erdene's North American
property interests, comprised primarily of Erdene's interest in the Donkin Coal
Project in Cape Breton, Nova Scotia. John Budreski, who was appointed to the
Erdene Board of Directors in January 2012, is the CEO designate of Morien
Resources Corp.


"As we move towards a restructuring of our company to allow for a more focussed
approach to the development of the Donkin Coal Project and to our Mongolian
exploration efforts, it was an important initial step to ensure we identified an
individual who possesses the management expertise and broad experience to lead
the North American business. We are very pleased that we have been able to
secure as CEO someone of John's caliber as we proceed through a very exciting
time for the Donkin Coal Project. The new name, Morien Resources Corp., was
selected to reflect the rich mining history of the area. Port Morien, the
village adjacent to Donkin, was the site of the first commercial coal mining in
North America and the first mineral exports from Canada," said Peter Akerley,
CEO of Erdene.


John Budreski, as the proposed new CEO of Morien Resources Corp., will be
effectively taking on that role to manage the North American assets within the
Erdene group, working closely with Peter Akerley to ensure an effective
transition takes place. John is a native Maritimer and was most recently Vice
Chairman of Cormark Securities Inc. and, prior to that, President and CEO of
Orion Securities Inc. which was sold to Macquarie Group in 2007. He has over 25
years of broad experience in the resource and resource investment banking
industries. Mr. Budreski is also a Director of Sandstorm Gold Ltd., Sandstorm
Metals & Energy Ltd., and Alaris Royalty Corp. John holds a Bachelor of
Engineering from Dalhousie /TUNS University, Halifax, N.S. and an MBA from the
University of Calgary, Alberta. 


John will be joined on the executive team of Morien Resources Corp. by Michael
MacDonald, Vice President Technical and Government Affairs and Ken MacDonald,
Chief Financial Officer.


Morien Background 

During the late 1600's the reserves of coal along the east coast of Canada were
first recognized by the French military and early settlers. In 1720 the first
commercial coal mine opened in Port Morien. Several years later, Canada recorded
its first mineral export from the site leading in the decades to follow to some
of the most extensive mining operations in the world. By the end of World War II
the region was producing half of Canada's Coal and Steel fueling much of
Canada's industrial development throughout the last century. In commemoration of
the history of Cape Breton coal mining and the Donkin-Morien region, and as we
look to a future where coal remains an integral part of the global electricity
and steel manufacturing process, we believe that the Morien name will be
recognized not only for its storied past but its' exciting future.


About Erdene 

Erdene Resource Development Corp. is a diversified resource company with metal
and coal interests in Mongolia as well as the Donkin Coal Project and industrial
mineral assets in North America. Erdene has 95,802,901 common shares issued and
outstanding and a fully diluted position of 103,215,901 common shares.


Advanced Primary Minerals Shares 

Trading in APM shares has been halted, effective August 8, 2012, in accordance
with the policies of the TSX Venture Exchange, pending completion of the
transaction which is expected to occur by the end of October, 2012.


Forward-Looking Statements

Certain information regarding Erdene and APM ("Companies") contained herein may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although the Companies believe that the
expectations reflected in such forward-looking statements are reasonable, they
can give no assurance that such expectations will prove to have been correct.
The Companies caution that actual performance will be affected by a number of
factors, most of which are beyond their control, and that future events and
results may vary substantially from what they currently foresee. Factors that
could cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration results,
continued availability of capital and financing and general economic, market or
business conditions. In addition, the completion of the proposed transaction is
subject to the approval of the disinterested shareholders of both Erdene and
APM, the Toronto Stock Exchange, the TSX Venture Exchange and the Supreme Court
of Nova Scotia. The forward-looking statements are expressly qualified in their
entirety by this cautionary statement. The information contained herein is
stated as of the current date and subject to change after that date.

Advanced Primary Minerals Corporation (TSXV:APD)
過去 株価チャート
から 5 2024 まで 6 2024

Advanced Primary Minerals Corporation (TSXV:APD)
過去 株価チャート
から 6 2023 まで 6 2024