Admiral Bay Welcomes Thomas R. Tough To The Board.TORONTO -- Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ) is pleased to announce that Thomas R. Tough, P.Eng. has joined the Board of Directors replacing Mr. Stan Bharti, who has resigned as Director of the Company, to pursue other interests. Mr. Tough is a geological consultant with over 35 years experience in prospecting, property evaluation, exploration and development, as well as acting as operator and project manager. As a director and senior officer of numerous public and private resource companies, he has negotiated the acquisition of, and participation in various projects and arranged public and private financings. Mr. Tough will assist Steve Tedesco, President of Admiral Bay, in the Company's transition of operations to its Denver office. Mr. Tough is currently a Director of Ona Exploration Inc., a Canadian junior exploration company focused on the acquisition of oil & gas projects in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and internationally. In addition, Admiral Bay continues to narrow its development focus to the Cherokee Basin in Kansas and the Appalachian Basin in Pennsylvania. The Company has sold its interest in the Quest Project in Utah. A large independent producing company based in Denver, Colorado has acquired the Company's interest for US$607,354. In addition to the cash payment, Admiral Bay retains a small override in the existing wells, as well as new wells developed on 1,500 acres in the project area. The purchaser plans to drill several new wells over the next two years. Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging coal bed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) production company focused on the development of projects in the Cherokee Basin in southeast Kansas Southeast Kansas is a region of the U.S. state of Kansas. It can be roughly defined by Woodson County in the northwest, Bourbon County in the northeast, Cherokee County in the southeast, and Montgomery County in the southwest. and the Appalachian Basin, in Pennsylvania. The Company's current gas production is in approximately 1 MMcf/day. Admiral Bay is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol ADB. Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the ad equacy of this release Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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