Saturn Minerals Inc. Appoints New CFO & Corporate Secretary
12 Octobre 2011 - 4:00PM
Marketwired
Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or
the "Company") announces the appointment of Mr. Vitaly Melnikov as
its Chief Financial Officer and Corporate Secretary.
Mr. Scott Davis, who has served as the Company's interim Chief
Financial Officer since February 2011 will be leaving Saturn to
continue with his work in the mining exploration and development
sector. The Company wishes to express its appreciation to Mr. Davis
and his firm Cross Davis & Company for the excellent work
performed on behalf of Saturn Minerals Inc.
The Company is pleased to have been able to attract Mr. Vitaly
Melnikov to the position of CFO and Corporate Secretary. Mr.
Melnikov presently serves as Director of the Board and CFO of Mass
Petroleum Inc. and also as Managing Director of Istok Capital Inc.,
which provides corporate finance and advisory services to public
companies. Mr. Melnikov was most recently CFO and Corporate
Secretary of Evolving Gold Corp. and prior to that Vice President,
Finance and Administration of UrAsia Energy Ltd. prior to its
merger with Uraniun One Inc. in April 2007, creating a new globally
diversified uranium producer with a combined market capitalization
of $5 billion. Mr. Melnikov also held financial management
positions with PetroKazakhstan (formerly Hurricane Hydrocarbons), a
vertically integrated oil & gas company which was acquired by
China National Petroleum Corporation in October 2005, and Kumtor
Gold Company with one of the largest operating gold mines in
Central Asia (currently owned by Centerra Gold Inc.) Mr. Melnikov
is a Certified Public Accountant (USA).
Stan Szary, President and CEO of Saturn commented, "the Company
is happy to welcome Mr. Melnikov to the position of CFO and
Corporate Secretary. Mr. Melnikov's experience in both the mining
& energy sectors is both significant and broad, and ideally
suited to Saturn as it continues to transition from a grassroots
exploration company to a more advanced coal & energy
explorer."
The Company also announces that pursuant to Saturn's Stock
Option Plan, the Company will grant 500,000 incentive stock options
at a price of $0.17 pursuant to the retention of Mr. Melnikov as
Saturn's CFO and Corporate Secretary. These options will have a 5
year term and are subject to regulatory approval.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a
junior Canadian energy & resources company advancing a
portfolio of energy and resource assets in Saskatchewan, Manitoba
and British Columbia. The Company has made two bituminous coal
discoveries at its Saskatoba Project since 2009, including one of
the thickest coal seams encountered in Canada at 88 metres
thickness. The Company continues to build strategic relationships
throughout Saskatchewan & Manitoba to pursue new opportunities
and advance current projects in the Western Canadian Sedimentary
Basin.
To learn more, please visit the Company's website at:
www.saturnminerals.com.
SATURN MINERALS INC.
Stan Szary, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Saturn Minerals Inc. Stan Szary President (604)
685-6989www.saturnminerals.com
Saturn Minerals Inc. (TSXV:SMI)
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