Spectral Capital Corporation (FCCN.QB) (F3SN:F) today announced that Joel Adamson has joined the Company as Executive Vice President of Environmental and Regulatory Affairs. In this newly created role, Adamson, who is based in Seattle, will be instrumental in building Spectral Capital's operations in Russia and Kazakhstan, nations in which the company is developing two gold mining properties.
'We are thrilled to welcome Joel to the Spectral team,' said Spectral CEO Jenifer Osterwalder. 'He brings more than two decades of operational, contracting, regulatory and environmental expertise to our company as well as significant on-the-ground experience working in Kazakhstan and Russia. Joel's extensive background in the resource regulatory environment in Russia and Kazakhstan will be invaluable as we develop our in-country resources and further develop our mining projects in these countries.'
Adamson, who is fluent in Kazakh and Russian, has more than 20 years of experience in environmental engineering and international project management. Prior to joining Spectral, he was under contract with the Kazakhstan Department of Land Resources and Ecology where he worked on many environmental and water quality issues. Prior to this work, Adamson was an Environmental Engineer and Project Manager at Conestoga Rovers & Associates in Tacoma, Washington, and President and Owner of Adamson Commercial Enterprises.
Adamson has held several positions at ExxonMobil Corporation including Manager of Environmental/Regulatory Affairs for the Sakhalin-1 Project, a $2 billion-dollar oil and gas on-shore processing facilities construction project on Sakhalin Island in Russia. He managed a team of eight ExxonMobil employees as well as more than 20 contractors, and conducted on-site environmental and safety inspections, audits of the contractors' compliance with local laws and regulations, and environmental auditing.
Prior to the Sakhalin-1 Project, Adamson served - as an employee of ExxonMobil - as Regulatory Affairs Coordinator for Tengizchevroil in Atyrau, Kazakhstan. He also served as Director of Environment, Health, and Safety for Mobil Oil Kazakhstan, Inc. in Almaty, Kazakhstan, and Senior Consulting Engineer and Vice President at Environmental Impact Assessment Group, Inc. in Dzhambul, Kazakhstan.
Adamson received a M.S. in Environmental Engineering from the California Institute of Technology in Pasadena, California. He received a B.S. in Civil Engineering with emphasis in Environmental Engineering from University of California Irvine.
Spectral Capital is focused on the acquisition and development of a significant portfolio of properties in the natural resource sector, mainly in the CIS region. In September 2010, the Company purchased an interest in mineral properties in the Chita region of the Russian Federation. The Kadara and Kaltagay license is located in the Mogochinsky district of the Chita Region, which has several gold mines in production. Spectral owns 52% of the License for prospecting, exploration and production of gold and all other metals. The size of the License is 186 km2. In January 2011, Spectral acquired a 65% interest in a gold mine in the Bayankol River Basin of Kazakhstan, in one of the region's most promising areas for gold extraction. The size of the License is 702 km2. Exploration and development activities are currently being undertaken in both properties. Spectral continues to develop a diversified portfolio of natural resource assets in some of the world's most prolific regions.
Spectral Capital is a US based publicly trading company and is listed on the US over the counter markets as FCCN and Frankfurt exchange as F3SN. Spectral is a Nevada state corporation.
PRESS RELEASE FORWARD LOOKING STATEMENT:
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as 'expects,' 'will,' 'intends,' 'plans,' 'believes,' 'anticipates,' 'hopes,' 'estimates,' and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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