In related news, El Capitan Chairman and CEO John F. Stapleton confirmed that A. Blair Dunn, Esq. has been named Corporate Counsel. Dunn replaces Arly Richau, who stepped down from that position in late October.
Balding and Shirk join current El Capitan Directors Chuck Mottley, Clyde Smith, Tim Gay and Danny Martinez.
John Balding’s career has run the gamut from data processing and military intelligence to commercial lending. He holds a degree in Mathematics from Southern Oregon University and a Master of Business Administration from Arizona State University. Among the strengths and experience Balding brings to the El Capitan board is the ability to structure sophisticated financial transactions.
Robert Shirk, an active investor in gold and copper mines and oil wells over the past 35 years, is well-connected in the mining industry in both the United States and Canada. He is a CPA and has served as CFO for an Iowa-based real estate organization for more than 40 years. Shirk’s background includes land development, commercial construction, and operations, and he has been involved in the governmental processes related to the purchase and development of raw land.
“Both new directors are welcome additions to a board that has its sights on delivering value for its shareholders,” said Stapleton, “and I know they share the current board’s vision for the future.”
As new Corporate Counsel, Dunn is a founding partner of Western Agriculture, Resource and Business Advocates, LLP. He has served as the General Counsel and Director of Agricultural Policy for the South Dakota Department of Agriculture, as well as the Chief Legal Counsel for the New Mexico water rights brokerage firm of WaterBank. Stapleton believes that Dunn’s professional and personal background is especially well-suited for his new role as Corporate Counsel — having grown up on farms and ranches in Southern New Mexico and holding an undergraduate degree in Geology— and that he, like the new directors, will play a key role as the Company moves forward with initiatives to enhance the opportunities in front of it.
Stapleton acknowledged Richau for his contributions in helping the Company achieve significant milestones in the past years.
Stapleton also announced that a Finance/Audit Committee has been formed, chaired by Tim Gay. Committee members include Shirk and Company CFO Steve Antol.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is an exploration stage company (as defined by the Securities and Exchange Commission’s Industry Guide 7) based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost-effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.