VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce the appointment of Allan Danroth to the Board of Directors, effective immediately.
Allan Danroth is currently Vice President, Planning, Business Transformation and Information Services of Capital Power Corporation (TSX:CPX), a growth-oriented North American power producer headquartered in Edmonton, Alberta. Capital Power's business is the development, acquisition, construction, operation, and optimization of large-scale, fuel-diverse, cost-effective power generation facilities in North America. Mr. Danroth leads Capital Power's Planning, Information Services and Supply Chain groups. He is responsible for strategic planning, corporate forecasting and valuations, business transformation, supply chain management, and information services. Prior to his appointment as Vice President, Planning, Business Transformation and Information Services in January 2011, Mr. Danroth was Vice President of Genesee Operations of Capital Power Corporation, which included a coal mine producing 5 million tons of coal per year for a 1,300 MW power plant. He also held this position with EPCOR Utilities Inc. (EPCOR), upon joining the company in 2008, prior to the spin off by EPCOR of its power generation business to create Capital Power Corporation in July 2009.
Mr. Danroth has extensive operational and leadership experience in the pulp and paper industry, including the AV Group, Canfor, and Weyerhaeuser. A graduate of Athabasca University's MBA program, and the British Columbia Institute of Technology Management program, Mr. Danroth also holds a First Class Power Engineering designation. Mr Danroth sits on the Board of Inversa Systems and has previously sat on the non-profit board for The Support Network. In 2011, Allan was named Alberta's CIO of the Year by Alberta Oil & Gas Magazine.
Mr. Danroth joins the Saturn Minerals Board as the Company moves into more advanced and intensive exploration programs on its coal and oil & gas properties in Saskatchewan and Manitoba. Saturn Minerals welcomes Allan Danroth and looks forward to the leadership he will provide to the Board and to the overall direction of the Company.
As part of the Company's incentive and retention program, the Board of Directors of the Company has approved the grant of 1,705,000 incentive stock options to directors, officers and consultants exercisable at $0.20 per option. The options granted were priced at the 5-day volume weighted average trading price of the Company's common shares on the TSX Venture Exchange for the five trading days prior to the grant date. The options have a five year term, and vest over a period of 18 months from the grant date and are subject to approval by the TSX Venture Exchange.
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 89 metres thickness. The Company also has strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration and development company active in Canada's prairie provinces.
On Behalf of the Board of Directors
SATURN MINERALS INC.
Stan Szary, Chief Executive OfficerNEITHER 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.