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SCX.H Sagittarius Capital Corp

0.05
0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sagittarius Capital Corp TSXV:SCX.H TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.01 0.01 0.00 01:00:00

Sagittarius Announces Alpaca Resources Appoints Rick Cleath as VP Exploration

05/10/2010 3:27pm

Marketwired Canada


Sagittarius Capital Corporation (TSX VENTURE:SCX.H) ("Sagittarius" or the
"Company"), a capital pool company which has entered into an agreement to
undertake a Qualifying Transaction with Alpaca Resources Inc. ("Alpaca") (see
press release dated September 7, 2010), is pleased to announce that Mr. Rick
Cleath has been appointed as Vice President of Exploration of Alpaca.


Mr. Cleath has a B.Sc and M.Sc in geology from South Dakota School of Mines and
Technology as well as more than 25 years of experience as a geologist and in
managing, organizing, budgeting, planning and executing various mining
exploration projects globally. Most recently, Mr. Cleath played an integral role
as VP Exploration with U3O8 Corporation ("U3O8"), a Toronto-based exploration
company focused on uranium properties in South America. Mr. Cleath built a
strong technical team to advance U3O8's exploration in Guyana and played a
leading role in the discovery of a promising uranium system in the Kurupung
Batholith in Guyana with potentially large deposits.


Prior to his work with U3O8, Mr. Cleath was Vice President, Exploration with
Absolut Resources where he negotiated and acquired the Chaparra mesothermal gold
vein project in southern Peru and led the acquisition of the advanced-stage
Andorinhas high-grade gold project in Brazil.


Mr. Michael Newbury, President and CEO of Alpaca, commented: "We are pleased
that Mr. Cleath is joining the Company as Vice President of Exploration. With
his extensive experience in exploration management, he will play a key role in
the development of our projects."


Completion of the Qualifying Transaction is subject to a number of conditions
including, but not limited to, Exchange acceptance and if applicable pursuant to
Exchange Requirements, majority of the minority shareholder approval. Where
applicable, the Qualifying Transaction cannot close until the required
shareholder approval is obtained. There can be no assurance that the Qualifying
Transaction will be completed as proposed, or at all.


Investors are cautioned that, except as disclosed in the filing statement to be
prepared in connection with the transaction, any information released or
received with respect to the transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.


About Alpaca

Alpaca Resources Inc. is a Canadian junior exploration company with advanced and
early stage copper and gold exploration properties, primarily in the Western
United States. Alpaca's copper portfolio consists of the Hill Copper and Troy
Ranch projects in Arizona. These projects have had considerable exploration
including drilling that has delineated a considerable zone of mineralization.
The company is proceeding to prepare a NI 43-101 report that will define the
exploration required to delineate a resource. Alpaca's gold portfolio consists
of the Iron Butte project in Nevada and the Pataz project in the Peru.


Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Alpaca., including,
but not limited to, the impact of general economic conditions, industry
conditions, volatility of commodity prices, risks associated with the
uncertainty of exploration results and estimates and that the resource potential
will be achieved on exploration projects, currency fluctuations, dependence upon
regulatory approvals, and the uncertainty of obtaining additional financing and
exploration risk. There is no assurance that the company's exploration projects
will add to Alpaca's resource base in the short-term, or at all. Readers are
cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward-looking
statements.


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