HALIFAX, April 24, 2012 /CNW/ - Wade K. Dawe, Chairman of Linear Metals Corporation (TSX: LRM) (OTC: LMTCF) is pleased to announce the appointment of Jim Megann as Linear's President and Chief Executive Officer, effective immediately.
"Jim joined our company last fall and has quickly developed a passion for this industry," stated Mr. Dawe. "He has a clear vision and plan to move this company forward as we endeavor to generate value for our stakeholders. His immediate priorities will be to establish joint venture projects for our properties while strengthening relationships with Linear's investors."
Jim replaces Brian MacEachen who will remain on Linear's Board of Directors, and will assist Jim with the transition.
"Brian has led a number of significant and successful initiatives including the acquisition of a strategic property portfolio in Kenya," said Dawe. "The properties in Kenya have significant exploration potential, and we are pleased Brian will remain a key part of the team."
A key short term objective for Megann will be to find joint venture partners who are committed to unlocking the potential value of the properties. The focus to establish new strategic alliances for all company properties was the basis to rebrand the company as Stockport Exploration Inc.. Stockport is a community in England that created value for its citizens when a massive 27 arch viaduct was built spanning the River Mersey, connecting Stockport with a rail line to London. The viaduct was the largest in the world, and drove the economic and commercial success of Stockport. The viaduct is symbolized in the new company logo.
Pending TSX requirements, the company will begin trading as Stockport Exploration under the ticker 'SPT'.
About Stockport Exploration Corporation
Stockport Exploration is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,000 square kilometre property package has the potential to host multiple mineral deposits. Stockport also holds a silver property in La Morena, Mexico, a Tantalum-Lithium-Beryllium project in Seymour Lake, Ontario and a 43-101 Molybdenum Resource, KM61 in 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 www.sedar.com
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