Lakewood, Colo., USA - April 25, 2013, Lakewood, Colo., USA - Rare Element Resources Ltd., a mineral resource company, announced that Lowell A. Shonk has joined its board of directors and will serve as the board's audit committee chair.
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Mr. Shonk has held numerous financial-related positions in the last 30 years in companies in the copper, molybdenum, gold, coal, iron ore, industrial minerals and lithium extractive and processing industries, both domestically and internationally.
Mr. Shonk served as Vice President of Financial Operations and Analysis at Phelps Dodge Corporation and Freeport-McMoRan Copper & Gold from 1999 through 2009. Prior to that, he spent 20 years in finance roles, including Controller/Chief Financial Officer for various divisions of Cyprus Amax and its predecessor mining companies.
Mr. Shonk is the Vice Chairman of Cupric Canyon Capital LP/LLC, a private equity company in partnership with Barclays Capital focused on investing in early-stage copper projects worldwide. He served as CEO in 2012 and early 2013 and serves as a director for Hana Mining Co. Ltd., a formerly TSX-listed company that Cupric acquired in 2013. He also serves as Chairman of Eiseb Exploration and Mining, Ltd., a privately owned company 55% owned by Cupric, conducting copper and silver exploration in Namibia.
Mr. Shonk has a Masters degree from Colorado School of Mines in Mineral Economics and an MBA from the University of Colorado in Finance and Accounting. He is currently the chairman of the audit committee of the Society of Mining, Metallurgy and Exploration (SME).
At the same time, Paul H. Zink, a director since early 2012, has tendered his resignation.
Mr. Zink has more than thirty years of experience in the financial and extractive industries. Mr. Zink was appointed as a Director of the Company in February 2012. He has been the President of Eurasian Capital, the royalty and merchant banking division of Eurasian Minerals Inc., since July 2010.
From March 2008, Mr. Zink served as President and, from November 2009, served as a director of International Royalty Corporation until its sale to Royal Gold, Inc. in February 2010. From January 1994 to March 1997, Mr. Zink managed Pegasus Gold, Inc.'s acquisition efforts. He served as Chief Financial Officer for Koch Mineral Services, a unit of Koch Industries Inc., and as Chief Credit Officer for the parent company, from April 1997 to August 2000.
Mr. Zink currently serves as a director of Atna Resources Ltd. (Since April 2011). Mr. Zink began his career in the metals and mining industry with J.P. Morgan & Co., working for seventeen years on merger and acquisition analysis, banking and project finance advisory work for European mining companies, and sell-side equity research on U.S. mining stocks. ■