|By Marketwired .||
|December 31, 2013 07:00 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 12/31/13 -- Kombat Copper Inc. (TSX VENTURE: KBT) ("Kombat" or the "Company") announces that Mr. Justin Reid has been appointed as a director of Kombat, replacing Scott Kelly who has resigned as a director and officer of the Company to pursue other endeavours.
Justin Reid is the President and a director of Sulliden Gold Corp. Mr. Reid is a geologist and capital markets executive with over 20 years of experience focused exclusively in the mineral resource space. Mr. Reid holds a B.Sc from the University of Regina, a M.Sc from the University of Toronto and an MBA from the Kellogg School of Management at Northwestern University. Mr. Reid started his career as a geologist with SGS and Cominco Ltd after which he became a partner and senior mining analyst at Cormark Securities in Toronto. In 2009, Mr. Reid was named Executive General Manager at Paladin Energy, where he was responsible for all merger and acquisition, corporate and market related activities. In connection with Paladin Energy's flagship Namibian operations, he was part of a team heavily focused on government relations, social and occupational policy and negotiating stability agreements, tax incentives and cooperative infrastructure sharing. He returned to Canada in early 2011 assuming the role of Managing Director Global Mining Sales at National Bank Financial, where he directed the firm's sales and trading in the mining sector.
The Company welcomes Mr. Reid to the Board and thanks Mr. Kelly for his past contributions.
About Kombat Copper
Kombat is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant exploration upside.
The Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property: the past-producing Kombat Mine. The Kombat Mine's extensive infrastructure includes an 800m exploration shaft which was opened in 2006, three recently-operational shafts, ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator (replacement value est +$100MM) all supported by the Company's local town-site. The Kombat mine originally opened in 1962 and historically produced approx. 8.7 million tonnes of ore grading 3.1% Cu (from the technical report issued March 30, 2012 and titled 2012 "Technical (NI 43-101) Report on the Kombat Project", prepared by Henry J. Awmack, P.Eng. for Equity Exploration Consultants Ltd.) and is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb.
In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPL's"). The EPL's are located also within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.
F. W. Nielsen P.Geo., Presdent and CEO of Kombat Copper, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information included in this press release.
This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements regarding management changes and the impact on the Company of these events. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties and risks of the mining industry. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
Kombat Copper Inc.
F. William Nielsen
President and Chief Executive Officer