TORONTO, ONTARIO--(Marketwired - Jan. 22, 2014) - VVC Exploration Corporation ("VVC" or the "Company") (TSX VENTURE:VVC) announces having accepted the resignation of Patrick Fernet as Chairman and Officer of the Company effective immediately. Mr. Fernet served the Company as Director since May 2004, as V.P. of Legal Affairs since January 2005, and as Chairman of the Board since July 2007. Mr. Fernet will continue as a Director of the Company and as a consultant. Jim Culver, President and CEO of the Company thanked Patrick on behalf of the BOD, management and shareholders for his past work for the Company and said "We look forward to continuing to work with Patrick in his new role." Mr. Fernet said that he had taken more responsibilities with his other business interests but will continue to be actively involved in VVC.
The Board has appointed Terrence F. Martell, Ph.D. as Chairman of Board. Dr. Martel is the Saxe Distinguished Professor of Finance at the Zicklin School of Business, Baruch College, City University of New York where he also directs the Weissman Center for International Business. Previously to his current position, he was a senior executive of the Commodity Exchange in New York (COMEX) and is an expert in metals trading, options and derivatives. In addition he is an experienced board member. He is a Trustee of the City University of New York; a member of the board of ICE Group, the parent of the New York Stock Exchange, where he chairs the Risk Committee; he is Chair of ICE Clear US; he is Vice Chair of ICE Futures US; he is a board member of Ice Clear Credit where he also chairs the Risk Committee; he is a member of the Executive Committee of the Manhattan Chamber of Commerce, among others.
"We expect Dr. Martell to add additional direction and inspiration as VVC enters into a new phase of its development with its near production Samalayuca Copper Project" said Jim Culver.
In addition, the Company is pleased to announce that it has completed all of the payments on its Cumeral Property in Northern Sonora Mexico. Cumeral is a 16,622 acre potential open pit gold-copper property, now wholly owned by the Company.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, which includes a near production copper prospect in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States, Mexico. The Company also has a grassroots gold/VMS prospect in the Timmins area of northern Ontario. VVC is aggressively seeking to convert its near production copper project, Samalayuca, to pilot scale production, then full production.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
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