Post by Franko10 ™ on Jun 14, 2005 12:20:35 GMT -5
Kensington Resources Ltd. Elects Zimmerman and Baldwin to Board of Directors
13:09 EDT Tuesday, June 14, 2005
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) yesterday elected William E. Zimmerman and Christopher G. Baldwin to the Board of Directors at the Company's annual general meeting. James R. Rothwell, Robert A. McCallum, Tony Pezzotti and William E. Stanley were re-elected and will continue to serve as directors.
"We are very pleased to have Bill Zimmerman and Chris Baldwin involved with Kensington Resources Ltd. as we enter a period of increased activity and growth. Both are leaders in their respective fields, and bring proven expertise in Canada's diamond industry to the Company," states Robert A. McCallum, President & CEO of Kensington Resources Ltd. "The strengthening of our Board is yet another corporate accomplishment for Kensington Resources Ltd. The Company is attracting premier leadership talents that strengthen our ability to establish an aggressive role in the co-management of the Fort a la Corne Diamond Project. Our corporate objective remains focused on the best interests of our shareholders, with a view to improving value in this Company through excellent project management and by advancing the profile of Kensington Resources Ltd."
Mr. Zimmerman previously served as director of the Company between June 1, 2001 and June 11, 2004. As the former President of BHP Diamonds Inc., he was responsible for developing new diamond opportunities and the sorting, valuation and sales of diamond produced from the Ekati Diamond Mine. Mr. Zimmerman became involved in the Ekati Diamond Project in 1994 and led the team that developed and implemented the successful strategy for selling diamonds from Canada's first diamond mine to world markets. He has over 30 years of business experience in natural resources, specializing in the development and implementation of successful marketing strategies of commodities including diamonds.
Mr. Baldwin is a corporate/commercial lawyer and partner in the Vancouver office of Lawson Lundell LLP. He has been practising for almost 30 years, and has significant experience advising mining companies on project development.
Robert McCallum told the assembled audience, "We also recognize the many contributions made by David H. Stone and Murray Tildesley during their tenure and would like to express our appreciation for their past service on our board and for their continued involvement with the Company as members of the Technical Advisory Board."
Shareholders also approved the reappointment of Deloitte and Touche LLP as auditor and the adoption of a new Stock Option Plan. An archive of President & CEO Robert A. McCallum's presentation from the meeting will be posted on the Company's website at www.kensington-resources.com.
At the board meeting following the annual general meeting, the board of directors also appointed James R. Rothwell as Chairman, Robert A. McCallum as President & CEO and Christopher G. Baldwin as Corporate Secretary.
Further, the Company reports the granting of 250,000 stock options exercisable at a price of $2.13 per share for a five-year period to employees and consultants of the Company. The stock options shall vest over a one year period and are subject to regulatory approval of the new Stock Option Plan.
Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners have entered into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Kensington Resources Ltd. (TSX VENTURE:KRT)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
(800) 710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com
13:09 EDT Tuesday, June 14, 2005
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) yesterday elected William E. Zimmerman and Christopher G. Baldwin to the Board of Directors at the Company's annual general meeting. James R. Rothwell, Robert A. McCallum, Tony Pezzotti and William E. Stanley were re-elected and will continue to serve as directors.
"We are very pleased to have Bill Zimmerman and Chris Baldwin involved with Kensington Resources Ltd. as we enter a period of increased activity and growth. Both are leaders in their respective fields, and bring proven expertise in Canada's diamond industry to the Company," states Robert A. McCallum, President & CEO of Kensington Resources Ltd. "The strengthening of our Board is yet another corporate accomplishment for Kensington Resources Ltd. The Company is attracting premier leadership talents that strengthen our ability to establish an aggressive role in the co-management of the Fort a la Corne Diamond Project. Our corporate objective remains focused on the best interests of our shareholders, with a view to improving value in this Company through excellent project management and by advancing the profile of Kensington Resources Ltd."
Mr. Zimmerman previously served as director of the Company between June 1, 2001 and June 11, 2004. As the former President of BHP Diamonds Inc., he was responsible for developing new diamond opportunities and the sorting, valuation and sales of diamond produced from the Ekati Diamond Mine. Mr. Zimmerman became involved in the Ekati Diamond Project in 1994 and led the team that developed and implemented the successful strategy for selling diamonds from Canada's first diamond mine to world markets. He has over 30 years of business experience in natural resources, specializing in the development and implementation of successful marketing strategies of commodities including diamonds.
Mr. Baldwin is a corporate/commercial lawyer and partner in the Vancouver office of Lawson Lundell LLP. He has been practising for almost 30 years, and has significant experience advising mining companies on project development.
Robert McCallum told the assembled audience, "We also recognize the many contributions made by David H. Stone and Murray Tildesley during their tenure and would like to express our appreciation for their past service on our board and for their continued involvement with the Company as members of the Technical Advisory Board."
Shareholders also approved the reappointment of Deloitte and Touche LLP as auditor and the adoption of a new Stock Option Plan. An archive of President & CEO Robert A. McCallum's presentation from the meeting will be posted on the Company's website at www.kensington-resources.com.
At the board meeting following the annual general meeting, the board of directors also appointed James R. Rothwell as Chairman, Robert A. McCallum as President & CEO and Christopher G. Baldwin as Corporate Secretary.
Further, the Company reports the granting of 250,000 stock options exercisable at a price of $2.13 per share for a five-year period to employees and consultants of the Company. The stock options shall vest over a one year period and are subject to regulatory approval of the new Stock Option Plan.
Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners have entered into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Kensington Resources Ltd. (TSX VENTURE:KRT)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
(800) 710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com