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Monday, December 13, 2010

Coal Stocks News; Cathy Fong Elected Chairman, CEO And Director To Lucky Strike (LKY - TSX Venture) To Strengthen The Team And To Focus On Project Acquisitions

Vancouver, British Columbia CANADA - December 13, 2010 (Investorideas.com Mining stocks newswire) - Lucky Strike Resources Ltd. (LKY - TSX Venture) is pleased to announce all matters placed before the shareholders in the annual and special meeting (AGM) were approved on December 10, 2010, in Vancouver, British Columbia, Canada.
At the AGM, Cathy Fong was elected Chairman, CEO and Director of Lucky Strike Resources Ltd. The number of Directors for the Company was set at six with nominees including Cathy Fong, Danny Hon and Michele Ashby being newly elected Directors while Dodge Li, Patricia Wilson and Andre Klumb as returning Directors to the Board for the ensuing year.
William Arthur Graham, who is the founder of the Company, did not stand for re-election as a Director. The Company wishes to thank him for his contributions over the years as both a Director and Officer. The Company also wishes to thank Matthew Mikulic for his time as a Director and wishes him well in his future endeavours.
Following the AGM, the Board of Directors met and appointed three of its Directors to serve on the Audit Committee and three Directors to its Compensation Committee. The following reconstitutions and/or appointments were made:
  • Cathy Fong Director, Chairperson of the Board,
  • Member of the Compensation Committee;
  • Danny Hon Director, Chief Financial Officer;
  • Patricia Wilson Director, Corporate Secretary,
  • Chairperson and Member of the Audit Committee,
  • Dodge Li Director, Member of the Audit Committee;
  • Andre Klumb Director, Member of the Compensation Committee; and,
  • Michele Ashby Director.
Cathy S.Y. Fong, P.Eng. Ms. Fong is an accomplished senior civil/structural professional engineer with over 20 years of experience in the mining, heavy industrial and commercial construction industries. She has completed detailed engineering assignments for Eskay Creek, Bell Creek, Lone Tree, Sigma, Gilbraltar, Enako, Loki, Campbell, Quinsam and Zaldivar Mines. Her professional experience includes completing projects for SNC-Lavalin, Hatch, BC Hydro, Proctor & Redfern and Quinn Dressel. Ms. Fong has broad project development experience. Ms. Fong was the former president of Silvercorp Metals Inc.
Danny Hon, C.G.A. Mr. Hon is a Certified General Accountant with over 20 years experience in accounting and finance. He became an associate member of the Certified General Accountants Association of Canada in 1994 and a Certified Financial Planner in 1998. Mr. Hon became a fellow of the Association of Chartered Certified Accountants of the United Kingdom in 1992 and the Hong Kong Institute of Certified Public Accountants in 1999. Mr. Hon is a partner of Hon & Wong, Certified General Accountants, based in Vancouver, B.C. He has extensive experience working with Canadian and U.S. listed public companies which have businesses in China. Mr. Hon is currently the CFO of China Education Resources Inc., and a director and CFO of Brand Marvel Worldwide Consumer Products. Mr. Hon was also formerly the CFO of China Gold International Resources Corp. Ltd., Max Gold Corp., and Silvercorp Metals Inc. Mr. Hon is fluent in Chinese Mandarin.
Michele Ashby. Ms. Ashby is currently the CEO of MiNE LLC. She started her career as a retail stockbroker for 12 years, and served as Gold analyst for a regional brokerage firm for 8 years. She was the assistant dean for the on-line Mining Investment College in 1997. From 1988 to 2005 Michele was CEO and founder of the Denver Gold Group, a trade association for the gold mining industry. In 2005, Ms. Ashby left Denver Gold Group and started her own company, MiNE LLC, which organizes private investor meetings for the finance, natural resources, mining, and modern energy industry sectors. Ms. Ashby is also a member of the board of directors of US Gold Corp., a New York Stock Exchange listed (UXG) mining company with projects in North America and Mexico. Michele also sits on the Advisory Board for Green Energy Corp., a private company in the smart grid space. Ms. Ashby is also the author of "The Modern Energy Matchmaker", which was released in the Fall of 2010 and "How to ! Invest in Mining Stocks" published in 1987.
About the Changyun Coal Project
Located within the Bijie coal fields, Guizhou Province, the Changyun coal mine covers an area of 2.0954 sq. km with valid mining permits for a 150,000 MTPY coal mining operation, which may be expanded to 300,000 - 500,000 MTPY. Local historical reports (non-compliant with NI 43-101) state that coal seams within the mine area are highly altered and would produce a low ash, low to medium sulphur (average 0.23%), and low-volatile (7-8% volatile matter) product, with high gross calorific value that ranges from 6400 to 7200 Kcal/kg. The thermal grade coal is suitable for power plant use. A ready market for production exists with the nearby power plants and other end users within Guizhou province.
In addition to the mine, Changyun has recently been provided with preferential rights to explore and develop a 20 sq. km of highly prospective exploration land surrounding the mine.
About Lucky Strike:
Lucky Strike Resources Ltd. is a Canada-based exploration stage company. The Company is engaged in the process of exploring and/or developing coal properties in Guizhou province in China. The Company also has property in Yreka, British Columbia, Canada. The Changyun coal project is a former past producing mine and is located some 25 km northeast of Bijie City in Guizhou province, approximately two hours north by air from Hong Kong. The permitted mine covers a total area of 2.0954 sq. km and is surrounded by approximately 20 sq. km of highly prospective exploration area, where available geological data supports the potential presence of significant coal resources of high quality Anthracite coal within the area. The local area has well established infrastructure for the Changyun project to resume production and coal buyers to pick up coal FOB at the mine site.
On behalf of Management
Lucky Strike Resources Ltd.
Cathy Fong
Cathy Fong, Chairman & CEO, Director
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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