TORONTO, ONTARIO--(Marketwired - Aug. 28, 2014) - Cartier Iron Corporation (CSE:CFE) ("Cartier Iron" or the "Company"), is pleased to announce that it has agreed to appoint Thomas G. Larsen as both Chief Executive Officer and a Director of the Company, with both appointments to take effect at a specific time and date in mid-September 2014 to be determined and confirmed by Mr. Larsen.
Recently, in April 2014, Mr. Larsen became President and Chief Executive Officer of Champion Iron Limited on completion of the merger of Australian-based Mamba Minerals Ltd. and TSX-listed Champion Iron Mines Limited to continue as Champion Iron Limited effective April 1, 2014.
Prior to that merger he was President and Chief Executive Officer of Champion Iron Mines Limited, now a wholly-owned subsidiary of Champion Iron Limited. During that tenure he transformed the company from an unlisted junior in 2006 to a TSX-listed iron ore exploration and development company with a highly prospective iron property portfolio, including the flagship Consolidated Fire Lake North project, which is currently pursuing the completion of a Feasibility Study.
Cartier Iron looks forward to benefitting from this experience when Mr. Larsen joins to take on the role of Chief Executive Officer and joins the Company's board.
Under an option agreement with Champion Iron Mines Limited, Cartier Iron has the right to earn a 65% interest in Champion Iron Mines Limited's "Cluster 3" properties, including the Penguin Lake deposit. In December 2013, Cartier Iron announced an initial Inferred Mineral Resource of 531 million tonnes grading 33% Total Iron at Penguin Lake and is currently commissioning a Preliminary Economic Assessment.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering and developing significant iron ore resources in the province of Quebec. Cartier Iron's projects include the optioned Gagnon Holdings in the Cote-Nord Region of east-central Quebec, and the Borel River Prospect in the Nunavik Region of northern Quebec. Cartier Iron announced on December 19, 2013 that the Penguin Lake deposit, which underlies part of the Round Lake claim group (one of Cartier Iron's optioned Gagnon Holdings), hosts an in-pit Inferred Resource of 531 million tonnes grading 33% Total Iron at a 15% cut-off grade. Cartier Iron also announced on March 24, 2014 that it has engaged BBA Inc. to complete a Preliminary Economic Assessment of the Penguin Lake Project.
For additional information on Cartier Iron, please visit our website at www.cartieriron.com.
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