American Vanadium Appoints Ron Espell as Vice President, Environmental
April 03 2012 - 7:30AM
Business Wire
AMERICAN VANADIUM CORP. (“American Vanadium” or the “Company”)
(TSX.V: AVC) (OTC: AVCVF.PK) announces the appointment of Mr. Ron
Espell to the position of Vice President, Environmental of American
Vanadium effective immediately.
Mr. Espell has more than 25 years of domestic and international
experience in the mining industry, most recently with Barrick Gold
as Corporate Environmental Director with responsibilities for new
project development, permitting, and financing, environmental
oversight of operating mines, and the development and
implementation of Environmental Management Systems. Externally Mr.
Espell defined permitting strategies and helped negotiations with
regulatory agencies for permitting while developing companion
internal compliance assurance programs to support the permitting,
approvals and financing process.
“Given Ron’s tremendous depth of experience, we are excited
to have him lead the permitting of our Gibellini Mine in Nevada,”
said Bill Radvak, President and CEO of American Vanadium.
“Together with Mike Doyle, our Executive Vice President,
Operations, we are building a top class operating team. As
our mine and corporate strategy is built on green energy,
sustainability, and environmental leadership, it is critical that
we continue to attract the key people to achieve our
goals.”
Previously Mr. Espell held roles within Barrick as Environmental
Manager at Barrick’s Goldstrike Mine and Environmental Director for
the Barrick Australia Pacific and African Regions. Throughout his
career he has worked on mining projects around the globe in all
aspects including mine design for closure, mine waste management,
mine water management, multidisciplinary risk assessments and
environmental geology.
Before joining Barrick, Mr. Espell was with the Nevada Division
of Environmental Protection, where he helped develop and implement
Nevada mining environmental regulatory programs. He helped shape
Nevada’s programs for mining while permitting many of the largest
mines in the state. Mr. Espell worked very closely with the BLM and
US Forest Service in developing the MOU’s to integrate state and
federal permitting for mining projects.
Mr. Espell earned his B.S. degree in Environmental Geology from
California State University in 1984 and has been an active
participant in the development of natural resource education
programs throughout his career.
Mr. Espell has been granted an option to purchase up to a total
of 100,000 common shares of the Company at the exercise price of
$0.70 each. The stock option is granted pursuant to the Company’s
Stock Option Plan, as amended and are for a term of five years from
the date of grant.
The Company will also issue up to a total of 400,000 performance
shares of the Company’s common shares in four equal tranches to Ron
Espell. The performance shares will be issued as a signing bonus
and upon the completion of certain milestones linked to the
completion of permitting, design and construction of pad and
facilities, and upon achieving economic production at the Company’s
Gibellini Vanadium Project. Issuance of these performance shares
are subject to TSX Venture Exchange approval.
About American Vanadium
Corp.
American Vanadium is currently developing the only vanadium mine
in the United States. This strategic asset gives the Company the
opportunity to vertically integrate itself and its vanadium
production into the highest value market, grid energy storage.
American Vanadium will be seeking major joint venture partners in
the solar, wind and grid-scale battery manufacturing
industries.
The Company’s Gibellini Project, located in Nevada, is unique in
its design to economically produce vanadium electrolyte for the
energy storage industry, as well as vanadium pentoxide for the
steel and alloying industries. A positive Feasibility Study and
updated National Instrument 43-101 Technical Report on the
Gibellini project were completed by AMEC E&C Services, Inc. in
2011.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward-Looking Statements: This press release contains
“forward-looking information” within the meaning of applicable
Canadian securities laws, including statements regarding the
expected use of proceeds from the Private Placement, and future
plans and objectives for the Gibellini Project. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Forward-looking information includes estimates of mine
production rates and mine life, revenues from future mining
operations, capital and operating costs, and pay-back period.
Factors that may cause actual results to vary include, but are not
limited to, actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of vanadium;
possible variations in reserves, grade or recovery rates; changes
to capital and operating cost estimate, delays in obtaining
governmental approvals or financing or in the completion of
development or construction activities. Although American Vanadium
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements 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 statements. American
Vanadium does not undertake to update any forward-looking
statements, except in accordance with applicable securities
laws.
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