Sagittarius Announces Alpaca Resources Appoints Rick Cleath as VP Exploration
06 October 2010 - 1:27AM
Marketwired
Sagittarius Capital Corporation (TSX VENTURE: SCX.H) ("Sagittarius"
or the "Company"), a capital pool company which has entered into an
agreement to undertake a Qualifying Transaction with Alpaca
Resources Inc. ("Alpaca") (see press release dated September 7,
2010), is pleased to announce that Mr. Rick Cleath has been
appointed as Vice President of Exploration of Alpaca.
Mr. Cleath has a B.Sc and M.Sc in geology from South Dakota
School of Mines and Technology as well as more than 25 years of
experience as a geologist and in managing, organizing, budgeting,
planning and executing various mining exploration projects
globally. Most recently, Mr. Cleath played an integral role as VP
Exploration with U3O8 Corporation ("U3O8"), a Toronto-based
exploration company focused on uranium properties in South America.
Mr. Cleath built a strong technical team to advance U3O8's
exploration in Guyana and played a leading role in the discovery of
a promising uranium system in the Kurupung Batholith in Guyana with
potentially large deposits.
Prior to his work with U3O8, Mr. Cleath was Vice President,
Exploration with Absolut Resources where he negotiated and acquired
the Chaparra mesothermal gold vein project in southern Peru and led
the acquisition of the advanced-stage Andorinhas high-grade gold
project in Brazil.
Mr. Michael Newbury, President and CEO of Alpaca, commented: "We
are pleased that Mr. Cleath is joining the Company as Vice
President of Exploration. With his extensive experience in
exploration management, he will play a key role in the development
of our projects."
Completion of the Qualifying Transaction is subject to a number
of conditions including, but not limited to, Exchange acceptance
and if applicable pursuant to Exchange Requirements, majority of
the minority shareholder approval. Where applicable, the Qualifying
Transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the Qualifying Transaction
will be completed as proposed, or at all.
Investors are cautioned that, except as disclosed in the filing
statement to be prepared in connection with the transaction, any
information released or received with respect to the transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be
considered highly speculative.
About Alpaca
Alpaca Resources Inc. is a Canadian junior exploration company
with advanced and early stage copper and gold exploration
properties, primarily in the Western United States. Alpaca's copper
portfolio consists of the Hill Copper and Troy Ranch projects in
Arizona. These projects have had considerable exploration including
drilling that has delineated a considerable zone of mineralization.
The company is proceeding to prepare a NI 43-101 report that will
define the exploration required to delineate a resource. Alpaca's
gold portfolio consists of the Iron Butte project in Nevada and the
Pataz project in the Peru.
Forward-Looking Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements
are subject to numerous risks and uncertainties, certain of which
are beyond the control of Alpaca., including, but not limited to,
the impact of general economic conditions, industry conditions,
volatility of commodity prices, risks associated with the
uncertainty of exploration results and estimates and that the
resource potential will be achieved on exploration projects,
currency fluctuations, dependence upon regulatory approvals, and
the uncertainty of obtaining additional financing and exploration
risk. There is no assurance that the company's exploration projects
will add to Alpaca's resource base in the short-term, or at all.
Readers are cautioned that the assumptions used in the preparation
of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.
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.
Contacts: Sagittarius Capital Corporation Robin M. Sundstrom
(647) 822-8111 robin@ironsideir.com Alpaca Resources Inc. Yannis
Banks (416) 777-6169 ybanks@foundationmarkets.com
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