Vancouver, Feb. 22, 2024 –
Umdoni Exploration Inc. (CSE: UDI) (the “Company” or “Umdoni”) announces that Mr. Dean Besserer was appointed as President and Chief Executive Officer and a director of the Company.
Mr. Besserer has more than three decades of capital market and mineral exploration experience working in over 50 countries, including across much of North America and often leading projects with annual budgets exceeding US$20 million. This includes projects for gold, base metals, diamonds and industrial minerals from grassroots to feasibility. Mr. Besserer was previously Vice President and Partner at APEX Geoscience Ltd., a consulting firm with offices in Canada, the U.S., and Australia, with clients that include both major and junior mining companies. In addition, Mr. Besserer previously served as a director of Brilliant Mining, Niblack Resources, Sentosa Mining, the General Manager of Exploration for Jervois Global and, the Vice President of Exploration for various junior mining companies. He is a Professional Geologist and a Qualified Person as defined in National Instrument 43-101.
To accommodate this appointment Mr. Jesse Hahn resigned as the interim Chief Executive Officer and the Corporate Secretary. Mr. Barry Hartley was appointed as the Corporate Secretary.
The directors of the Company approved a subdivision (forward split) of its common shares on the basis of one common share for two common shares. Further details of the share subdivision (forward split) including the record date will be announced by a news release at a later date.
The directors of the Company also approved the change of the name of the Company to “Zeus North America Mining Corp.” The particulars and the effective date of the name change will be announced by a news release at a later date.
The directors of the Company also approved the issuance of 1,200,000 options at an exercise price of $0.27 to certain officers, directors and consultants of the Company, in accordance with the Company’s stock option plan.
About Umdoni Exploration Inc.
The Company is in the business of mineral exploration. The Company is focused on the exploration of its 100% owned Chlore Property located near Smithers, BC, as well as its exploration properties in Idaho state known as the Heath, Selway and Great Western properties. The Chlore Property hosts a calc-alkalic porphyry copper-molybdenum target. In 2021 the Company’s work plan was focused on obtaining an understanding of the alteration and mineralization on the Chlore Property. The work program included helicopter borne magnetic and radiometric surveys over the whole Chlore Property area. The 2023 phase of exploration on the Chlore Property was comprised of geological mapping, soil and rock-chip sampling. The Idaho properties consist of 90 (Heath), 57 (Selway) and 38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately 3822.1 acres The Company plans to explore the Idaho properties for precious and base metals.
For more information, please contact the Company: 604-428-7050
On behalf of the Board of Directors, UMDONI EXPLORATION INC.
“Dean Besserer”
President and CEO
Forward Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's exploration plans, change of name, share subdivision and the use of funds. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
