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| September 08, 2009 Copper Ridge Appoints New Board; Closes $3 Million Financing | |
| Vancouver, British Columbia, September 8, 2009: Copper Ridge Explorations Inc. (TSX-V: KRX) (the "Company") announces that it has closed the $3,000,000 financing by Platoro West Holdings Inc. ("Platoro") (CNSX: PWH) announced May 29, 2009 and appointed three new board members: William M. Sheriff, John W. Legg and Daniel T. Farrell. Mr. Sheriff, a director of Platoro, has over 30 years experience in the mineral exploration and development business. Mr. Sheriff currently serves as Executive Chairman and CEO of Golden Predator Royalty & Development Corp. Chairman of EMC Metals Corp. and as a director and in certain cases non-executive chairman of several other public and private companies. Mr. Sheriff co-founded and served as Director and Chairman of Energy Metals Corporation, which was listed on NYSE Arca and the TSX and which was acquired by Uranium One Inc. in 2007 for $1.8 billion. Mr. Sheriff received his B.Sc. in Geology from Fort Lewis College, Colorado and conducted graduate studies at the University of Texas-El Paso in Mining Geology and Mineral Economics. Mr. Sheriff has also been appointed non-executive Chairman of the Company. Mr. Farrell has 30 years experience in the natural resource sector and the financial services industry. Mr. Farrell was the co-founder, CEO and President of Quincy Energy Corp, a uranium exploration company which was acquired by Energy Metals in 2006 for approximately $65,000,000. Mr. Farrell later founded and funded Zacoro Metals Corp., which identified and developed a large polymetallic orebody in Zacatecas State, Mexico later acquired by Aura Minerals Inc. Mr. Farrell currently serves as Platoro's CEO as well as a director. Mr Farrell holds a B.Sc. in Geology from Michigan Technological University. Mr. Farrell has also been appointed Vice-President Corporate Development for the Company. Mr. Legg, also a director of Platoro, is a lawyer with 15 years experience advising companies in natural resources, securities and corporate finance law. Mr. Legg currently serves as Executive Vice-President and General Counsel of Golden Predator. Mr. Legg, a member of the Law Society of British Columbia, holds a BA from the University of British Columbia and an LLB from Dalhousie Law School. The Company issued 100,000,000 common shares (the "Shares") in the financing at a price of $0.03 per Share for gross proceeds to the Company of $3,000,000. All the shares issued are subject to a hold period expiring on January 5, 2010. The Company plans to use the proceeds from the financing to advance its portfolio of base metal projects. A ground geophysical survey, including Induced Polarization ("IP") and gravity, has just been completed on the Company's Clear Lake zinc-lead-silver property located in the Yukon Territory. The Company is working to confirm a NI 43-101 compliant resource calculation for the deposit, which will include re-sampling core samples of previous operators, and additional drilling as warranted. Drilling will also test the highest priority drill targets as defined by the 2008 VTEM airborne geophysical survey and the 2009 IP and gravity surveys. Surface exploration is planned for the Company's Babine porphyry copper-gold-molybdenum property, in central B.C. and drilling is planned for the Company's Lucky Joe copper-gold property, located in the Yukon Territory and under option to Taipan Capital Corp. Messrs Sheriff, Legg and Farrell replace Mark Fields, Gordon Fretwell and Alan Savage on the Company's board of directors. Mr. Fields and Mr. Fretwell have been directors of Copper Ridge since 1999, and Mr. Savage since 2004. The Company thanks these gentlemen for their guidance, support and contributions to the development of the Company. Contact: Gerald G. Carlson, President & CEO Suite 500 -- 625 Howe Street Vancouver, B.C. V6C 2T6 Phone: 604-688-0833; 1-888-278-2288 info@copper-ridge.com TSX Venture Exchange -- KRX Pink Sheets -- CRXOF Berlin -- 502845 Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Copper Ridges' plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Copper Ridge assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change. | |
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