Oroplata Resources Announces Douglas MacLellan and William Hunter to Its Board of Directors
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Veteran Executives Add Public Company and Financial Expertise
INCLINE VILLAGE, NV / ACCESSWIRE / November 28, 2017 / Oroplata Resources Inc. (OTC PINK: ORRP) (the "Company"), through its wholly-owned subsidiary, LithiumOre (http://lithiumore.net), a lithium resource exploration and development company, is pleased to announce the additions of Douglas MacLellan and William Hunter to its Board of Directors. Mr. MacLellan and Mr. Hunter add public company and financial expertise, which are valuable to lead the Company through its next phase of an exploration program and progresses toward the development of its primary lithium ore project.
The Company holds approximately 250 accepted lithium mineral claims, totaling 5,000 acres, located in the Western Nevada Basin, situated in Railroad Valley in Nye County, Nevada (the "WNB Claim"). Railroad Valley is approximately 112 miles (180 kilometers) northeast of Clayton Valley. The project can be accessed by paved highway directly from U.S. Route 6. Railroad Valley is one of Nevada's largest trapped basins and is noted to hold all the necessary commercial and engineering prerequisites for a massive lithium brine deposit. The Company's claims have been evaluated by experts and the BLM and are targeted for planned on-site exploration expected to begin in the first half of 2018.
Mr. Douglas MacLellan currently serves as Chairman of the Board of eWellness Corporation (EWLL) since May 2013. Since November 2009, Mr. MacLellan has been an independent director of ChinaNet Online Holdings, Inc. (CNET) a media development, advertising, and communications company. Since June 2011 Mr. MacLellan has been Chairman of Innovare Products, Inc., a privately held company that develops innovative consumer products. From May 2014 through October 2016, Mr. MacLellan was an independent board member of Jameson Stanford Resources Corporation (JMSN) an early stage mining company. From September 1992 through April 2014, Mr. MacLellan was an independent board member and then became Chairman and chief executive officer at Radient Pharmaceuticals Corporation. (RXPC.PK), a vertically integrated specialty pharmaceutical company. He also served as president and chief executive officer for the MacLellan Group, an international financial advisory firm from March 1992 through January 2016 . From August 2005 to May 2009, Mr. MacLellan was co-founder and vice chairman at Ocean Smart, Inc., a Canadian based aquaculture company. From February 2002 to September 2006, Mr. MacLellan served as chairman and co-founder at Broadband Access MarketSpace, Ltd., a China-based IT advisory firm, and he was also co-founder at Datalex Corp., a software and IT company specializing in mainframe applications, from February 1997 to May 2002. Mr. MacLellan was educated at the University of Southern California in economics and international relations.
Mr. William Hunter is a seasoned financial executive with over 20 years of advisory and capital markets experience. Mr. Hunter has been involved in over $20 billion in M&A and financing transactions throughout his career in the natural resources and industrial industries. Mr. Hunter led the Americas Banking team at Nomura where he advised Mitsui in their acquisition of a minority interest in the Moatize Coal Mining complex from Vale and Globe Specialty Metals in their $3.1 billion 'merger of equals' transaction with FerroAtlantica. Prior to his time at Nomura, Mr. Hunter led the banking team at Jefferies and completed numerous transactions for companies such as Alpha Natural Resources, Fortescue Metals Group and Murray Energy. Mr. Hunter received his B.Sc. from DePaul University in Chicago and an MBA with distinction from the Kellstadt School of Business at DePaul University.
Oroplata Resources, Inc.
Oroplata Resources Inc. (OTC PINK: ORRP), through its wholly-owned subsidiary, LithiumOre (http://lithiumore.net), is a lithium resource exploration and development company, whose primary focus is the establishment of a low cost, long life proved production base to supply the rapidly growing and currently flourishing lithium-ion battery industry for both mobile devises and laptops, as well as the burgeoning EV (electronic vehicle) industry. Lithortech is focused on becoming a substantial, profitable lithium producer via the timely development of valuable production-grade lithium brine deposits in Nevada.
For more information, please visit: http://lithiumore.net.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2016. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact Information
Hayden IR
Stephen Hart
(917) 658-7878
hart@haydenir.com
SOURCE: Oroplata Resources Inc.