Welcome To The Yellowjacket Resources HUB On AGORACOM
Yellowjacket Resources (YJK:TSX-V) is a junior Canadian mining exploration company operating near Atlin B.C. at it's Yellowjacket Gold Project. The company is headquartered in Cranbrook, B.C. and is managed by the same team that brought you Eagle Plains
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Cranbrook, BC, February 6th, 2012: The management of Yellowjacket Resources Ltd. (TSX-V:YJK) is pleased to announce the appointment of a new member to the board of directors.
Barry Chappell (B.Sc. Economics, Southern Oregon State; M.Sc. Economics University of Nevada) is the well-known owner and host of Art and Coin TV syndicated on the DirecTV network. Mr. Chappell combines two degrees in Economics with two decades of buying and selling experience to help thousands of people buy art and rare coins. His unmatched expertise combined with his passion for value has solidified his reputation as art's foremost expert.
Dave Johnston, P.Eng. and Ron Netolitzky are stepping down from the Board but will remain with Yellowjacket in an advisory role as members of the Advisory Board. The management of Yellowjacket would like to thank Mr. Johnston and Mr. Netolitzky for their commitment and assistance in structuring the successful spinout of Yellowjacket from Eagle Plains Resources.
The board appointment is subject to approval by the TSX Venture Exchange.
About Yellowjacket Resources
Yellowjacket Resources was created in December 2011 by way of plan of arrangement and spun-off from Eagle Plains Resources Ltd. (TSX-V:EPL) on a one for three share basis to the shareholders of Eagle Plains. Yellowjacket will focus on the development of the Yellowjacket Gold Project. The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by all-season road. Hydro-electric power is located within 5km of property boundaries. The project received a B.C. Mines Act permit in July, 2009 for an open pit gold mine and onsite 400 tpd mill and concentrator, processing up to 75,000 tons per year. The permit contemplates a 7–9 year mine life from a series of open pits entirely within an area of disturbed placer workings. Gold may be recovered using a simple gravity concentrating recovery plant without the use of chemicals or additives. Yellowjacket owns both mineral (hard-rock) and placer rights within the Project area. The project is located within the traditional territory of the Taku River Tlingit First Nation who have entered into a formal Impact and Benefits Agreement with respect to the project.
As part of the spinout transaction Eagle Plains holds 15% of the total common shares of Yellowjacket. Concurrently, Eagle Plains transferred to Yellowjacket its entire interest in the Yellowjacket Project, an additional $600,000 cash and certain investments to provide working capital and exploration funding.
“Charles C. Downie,P.Geo” President and CEO Yellowjacket Resources Ltd.