THUNDER BAY, ON, Dec. 20, 2012 /CNW/ - Kesselrun Resources Ltd. (TSXV: KES) ("Kesselrun") announces that at its Annual General Meeting of Shareholders ("AGM") held on Dec. 19, 2012, all resolutions proposed to shareholders were duly passed, including the election of five directors, the approval of the Company's 10% rolling Stock Option Plan and the appointment of DeVisser Gray LLP as the auditors of the Company. Kesselrun's board of directors for the next year is comprised of Michael Thompson, Ali Hakimzadeh, James Beesley, Caitlin Jeffs and Joao da Costa.
Michael Thompson, P. Geo., President & CEO of Kesselrun, stated, "This has been a remarkable first year for Kesselrun since debuting on the TSX Venture in July. Despite the difficult markets, we have made significant progress and are well capitalized for continued development in 2013. I would like to thank all of our investors for their incredible support."
Kesselrun's recent milestones include:
- Completion of its Qualifying Transaction and TSX Venture listing in late July 2012 (see news release dated July 24th)
- The acquisition of an additional 47 mining claims covering 11,168 hectares at its flagship Bluffpoint project in Northwestern ON (see news release dated Aug. 22nd)
- A summer 2012 surface exploration program at Bluffpoint, that, along with historic results from Homestake Canada Ltd. expanded the main Island zone on surface to 500-700 metres in strike length, 100-150 metres in width and open in all directions (see news releases dated Sept. 10th & Oct. 18th)
- Surface work on Bluffpoint which included grab sample assay results from an area approximately 2300 metres north along strike from the northern extent of the Island Zone of 101.80 g/t Au and 66.82 g/t Au and extended the known mineralization on surface to approximately 3000 metres (see news release dated Oct. 29th)
- Completion of two equity financings in Nov. 2012 for gross proceeds of $3.27 million (see news releases dated Nov. 7th & Nov. 21st)
- Commencement of an initial diamond drilling program on Bluffpoint in late Nov. 2012 which is designed to test targets identified during the 2012 surface exploration program (see news release dated Nov. 22nd)
"I would like reiterate my gratitude to all of our stakeholders for making these achievements possible. I look forward to another very successful year for Kesselrun in 2013," added Mr. Thompson.
Michael Thompson, P. Geo., President & CEO of Kesselrun, is the Qualified Person responsible for the Bluffpoint project as defined by National Instrument 43-101 and has approved the technical information in this news release.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com.
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.
SOURCE: Kesselrun Resources Ltd.
For further information:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO
Adam Rabiner, Corporate Communications
604.868.7881 or 1.866.416.7941