|By Marketwired .||
|March 4, 2014 04:15 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 03/04/14 -- Rupert Resources Ltd. ("Rupert" or "the Company") (TSX VENTURE: RUP) today announced the appointment of Mr. Arthur S. Millholland, P.Geo to its Board of Directors.
Mr. Millholland is the President and CEO of Canadian Overseas Petroleum Limited (XOP), a TSX-V listed company engaged in the identification, acquisition, exploration and development of oil and natural gas offshore reserves, a position held since August 2009. Under the direction of Mr. Millholland, the company identified and is exploring, in a Joint Venture with the world's major integrated oil companies, a very promising deep-water oil exploration offshore of Liberia in West Africa. In addition, Canadian Overseas Petroleum has recently been named as one of the TSX Venture 50 companies for 2014.
Prior thereto, Mr. Millholland was a Director and the President and CEO of Oilexco from 1994 until July 2009. Under his tenure, Oilexco became one of the most active exploration and development operators in the UK North Sea. During his times at Canadian Overseas Petroleum and Oilexco, Mr. Millholland has raised in excess of $680 million in the UK and Canadian equity markets, and in excess of $550 million in Project Finance for development projects in the UK North Sea.
He has been a Professional Geologist in the oil and gas industry for 30 years, but began his career in mineral exploration in Canada.
Mr. Millholland has worked in a variety of regions including the UK North Sea, Canada, the Gulf of Mexico, the continental United States, South America, Iraq, and West and North Africa. He is a member of the Association of Professional Engineers Geologists and Geophysicists of Alberta, and the American Association of Petroleum Geologists. He is a graduate of the University of Waterloo where he obtained an Honours Bachelor of Science degree in Earth Science.
Mr. Martin Kostuik, President, stated, "Mr. Millholland brings a breadth of experience to the Board regarding junior company leadership and transition from explorer to producer. On behalf of the Board of Directors, I welcome him to Rupert's team."
Rupert is pleased to have Mr. Millholland join the Board, as he will add to the Board's strong variety of experience and skillsets. His experience and abilities related to operating junior companies, identifying projects through his extensive network of contacts and raising capital of all forms, will benefit Rupert in its quest to find, fund, acquire and develop near term producing assets.
Please see www.rupertresources.com.
About the Company
Rupert Resources is a Canadian based gold exploration company. Rupert's objective is to obtain accretive investment opportunities in near term producing assets through active searches for development projects while simultaneously evaluating the developmental potential of its two assets - the Surf Inlet property in British Columbia and the Gold Centre property in Ontario. Rupert holds a 100% interest in the Gold Centre property, which has the distinction of being one of the best-positioned exploration land packages within the entire Red Lake gold mining camp. The Gold Centre property is partially surrounded by and on trend with one of the world's richest gold mines, Goldcorp, now working within 600m of Rupert's northwestern boundary.
In 2004, Rupert commenced an 11,900m drill program on the Gold Centre property consisting of two main holes and several daughter holes. Although, at the 2008 conclusion of this program no significant gold was found in that small area in the South West portion of the property, strong geological features were encountered. On the heels of a recent $510,000 private placement, the new Summer 2013 exploration program has been completed. A geophysical program delineated three strong I.P. anomalies, with two located in the northwestern portion, and one in the eastern portion of the property. They have been recommended as diamond drill targets. See press release, November 14, 2013.
Michael Sutton, P.Geo., a Director of Rupert Resources Ltd., and a Qualified Person ("QP"), has reviewed and approved the technical content of this news release.
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
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 news release
Cautionary Note Regarding Forward Looking Statements
This Press Release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended October 30, 2013 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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