VANCOUVER, March 18, 2014 /CNW/ - Uracan Resources Ltd. (TSX.V:URC) (the "Company" or "Uracan") is pleased to announce that Mark Corra has been appointed to the Company's board of directors and will serve as Chair of the Audit Committee. The Company also announces that John Sutherland has resigned from the Board. The Company wishes to thank Mr. Sutherland for his contribution to the Company.
Mr. Corra has over 30 years mining experience. Mr. Corra is the Chief Financial Officer and Senior Vice President of Finance at B2Gold Corp. Prior to that, Mr. Corra was with Bema Gold Corp. since 1990, initially as Controller and subsequently as Vice President of Finance. Mr. Corra is a Certified Management Accountant, with a diploma in financial management from the British Columbia Institute of Technology.
Pursuant to the Company's Stock Option Plan, the Company has granted Mr. Corra 300,000 incentive Stock Options exercisable at $0.16 for a period of 10 years subject to regulatory approval.
Uracan Resources Ltd. (TSX.V:URC, OTC:URCFF) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada. Since 2006, Uracan has discovered a N.I. 43-101 Indicated Mineral Resource estimate of 7 million lbs U3O8 (21.5 million tonnes at a grade of 140 ppm U3O8 using a 100 ppm cut-off grade) and a N.I. 43-101 Inferred Mineral Resource estimate of 37 million lbs U3O8 (140.6 million tonnes at a grade of 120 ppm U3O8 using a 100 ppm cut-off grade) on its 100%-owned exploration properties in Quebec. Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.
Technical information in this news release has been reviewed and approved by Marc Simpson, P.Geo., Uracan's Qualified Person as defined by National Instrument 43-101 ("N.I. 43-101") standards.
ON BEHALF OF URACAN RESOURCES LTD.
President & 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 release.
SOURCE: Uracan Resources Ltd.
For further information: Marc Simpson, President & CEO, 604-506-6996; Corporate Development, 604-970-6980, www.uracan.ca