VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 19, 2013) - NGEx Resources Inc. (TSX:NGQ) ("NGEx" or the "Company") announces the appointment of Mr. Chester See as Chief Financial Officer of the Company, effective August 16, 2013, to succeed Ms. Wanda Lee. Ms. Lee is retiring from the Company and the Lundin Group of Companies after 25 years of dedicated service to pursue personal interests. During her tenure she used her extensive knowledge and expertise to contribute to the success of many companies within the Group.
Mr. See joins the Company from Lucara Diamond Corp. ("Lucara"), where he served as Financial Controller since 2011. During his career he has held positions of increasing responsibility in a number of publicly traded companies, including three years at Western Coal Corp., where he served as Manager, Financial Reporting & Treasury at the time of its $3.3 billion acquisition by Walter Energy Ltd. in 2011. Prior to his involvement in the mining industry, Mr. See spent 3 years in public accounting with PricewaterhouseCoopers ("PwC") working with a diverse client base both in Canada and internationally. He is a graduate of the University of British Columbia with a Bachelor of Commerce (Accounting) and is a member of the Institute of Chartered Accountants of British Columbia.
Commenting on the change, Dr. Wojtek Wodzicki, President and CEO of NGEx said, "Ms. Lee has provided strong financial leadership during her long tenure in the mining industry and more recently as Chief Financial Officer for NGEx. Her extensive knowledge and expertise has contributed to the growth and development of the Company and leaves it in a solid standing. I have appreciated her advice and guidance through an exciting period at NGEx and, on behalf of the Board, I would like to thank her for many years of service and contribution to NGEx. Although we regret to see her leave, we do wish her well in her future endeavors."
He further added, "Mr. See has been working closely with the Lundin Group of Companies and has been an integral part of the financial management team at Lucara. He has impressed all those who have worked with him and I am very pleased to have such an able replacement as CFO. I look forward to working with him as NGEx's new CFO."
Lukas Lundin, Chairman of NGEx, commented, "I would like to express my sincere gratitude and heartfelt thanks to Wanda for all of her support over the years. She is a dear friend of mine who has worked with me since the early days of the Lundin Group. She has been involved with nearly every company in the Group at some point in her career with us and successfully and tirelessly managed the many changes, reorganizations and expansions of the companies as they grew and matured. We could not have accomplished all that we have without her."
NGEX is a Canadian mineral exploration company with exploration projects in Chile, Argentina, and Canada. The Company's shares are listed on the Toronto Stock Exchange under the symbol "NGQ". The Company's focus is on advancing its Vicuña Project which includes several large copper-gold systems including the Josemaria, Los Helados, and Filo del Sol projects, located on a contiguous land package that the Company holds in Chile's Region III and adjacent San Juan Province, Argentina. Los Helados and Filo del Sol are part of a joint venture in which the Company holds 60% and Pan Pacific Copper Corporation holds 40%. Josemaria is part of a joint venture in which the Company holds 60% and Japan Oil, Gas, and Metals National Corporation (JOGMEC) owns 40%. In addition to the Vicuña Project the Company holds an extensive portfolio of 100% owned early stage exploration projects located in Chile and Argentina. It also owns a 100% interest in the GJ copper and gold project located in British Columbia Canada. The GJ project is optioned to Teck Resources who can earn up to a 75% interest.
On behalf of the board
Wojtek Wodzicki, President and CEO
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of NGEx Resources Inc. Forward-looking information includes, but is not limited to, statements with respect to the estimation of commodity prices, mineral reserves and resources, the realization of mineral reserve estimates, capital expenditures, costs and timing of the development of new deposits, the success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining activities, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All such forward-looking information is based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict.
Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, changes in commodity prices, currency fluctuation, financing, unanticipated reserve and resource grades, infrastructure, results of exploration activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations as well as other risks and uncertainties described under "Risks Factors" in the Company's Annual Information Form available under the Company's profile at www.sedar.com and the Company's website.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this document is qualified by these cautionary statements. Readers should not place undue reliance on forward-looking information. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and other to get a better understanding of the Company's operating environment. These factors are not, and should not be construed as being, exhaustive. Statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.