Abacus Mining and Exploration Corp. (TSX.V AME) today announces the appointment of Thomas A. McKeever to the Board of Directors. The appointment of Mr. McKeever is a significant step in the development of Abacus as a mineral exploration and development company. Mr. McKeever has a distinguished career that spans over forty years, most of which were spent as senior management in the mining and metal trading industry.
Doug Fulcher, president of Abacus stated: "We are extremely pleased to have attracted an individual with Thomas McKeever's experience and qualifications. Mr. McKeever's experience and advice will benefit Abacus as it rapidly advances the development of our copper gold resources in the historical Afton mining camp."
Mr. McKeever started his career as a C.P.A. in New York in 1965. In 1977, he joined the corporate finance group of AMAX Inc. a global metals and energy producer ranked 125 in the Fortune 500 group. By 1982, Mr. McKeever was President and Chief Executive Officer of AMAX Coal Company.
In 1985 Mr. McKeever was appointed Executive Vice President of AMAX Inc. and was elected to the Board of Directors in 1988. He served as a Director on behalf of AMAX Inc. on various public companies and on the Board of AMAX Gold (NYSE) following its IPO in 1987.
After the merger between AMAX Inc and Cyprus Minerals, Mr. McKeever orchestrated the sale of AMAX Oil and Gas to Union Pacific Resources in 1994 for $820 million.
Later in 1994 Mr. McKeever was recruited to head up the US activities of MG (Mettallgesellschaft Group) a German based conglomerate. In 1997 he assumed responsibilities for the group's global metal trading activities (MG plc) taking the company public in 1999. Eighteen months later MG plc was sold to Enron Corp. Shortly thereafter he retired as Vice Chairman of Enron Europe.
In 2001 Mr. McKeever was recruited by Sempra Energy Trading to negotiate the purchase of the former MG plc assets from Enron Metals Limited. After completion of the purchase the company was renamed Sempra Metals Limited and Mr. McKeever was appointed Executive Chairman of the new company. Under Mr. McKeever's direction Sempra Metals Company became one of the world leaders in the base and precious metals trading business.
Mr. McKeever retired from Sempra Metals Company in 2006 and now sits as an Independent Non Executive Director of The Houston Exploration Company.
Abacus Mining and Exploration Corp. also announces it has granted director and employee incentive stock options to purchase up to 400,000 shares at a price of $0.65 for a period of five years.
The foregoing is subject to regulatory acceptance.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
This news release, required by applicable Canadian laws, is not for distribution to U.S. news wire services or for dissemination in the United States, and does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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