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May 29, 2014 --- Vol. 08, No. 22May 2014

Nunavut

CHAIRMAN – Pacific Cascade Minerals Inc. May 28 reported that Eugene Hodgson will assume the position of chairman of its board of directors. Hodgson brings more than 30 years of private and public sector experience to Pacific Cascade. He began his public sector career in the Northwest Territories where he acted as senior policy advisor on resource-based projects. In the early 1980's he served as executive assistant to the British Columbia Minister of the Environment, Lands, Parks and Housing. His diverse private sector business experience includes positions as director of investments for, First Capital Inc., a mineral investment fund, vice president of corporate development for a water-based transportation company, director of a renewable energy development company and director of corporate development for Intrawest Corp. Eugene holds a bachelor’s degree in political science from the University of Calgary. Pacific Cascade Minerals President and CEO Harold Forzley said, “Eugene’s experience in both the private and public sectors brings added expertise in both business and board governance to Pacific Cascade. His experience both living and working in Nunavut provides valuable local knowledge as Pacific Cascade begins its work on the newly acquired Turner Lake project.” In April, Pacific Cascade announced an agreement to purchase Turner Lake, a gold project located near Bathurst Inlet, Nunavut. The property consists of three claims – Jam 1, Jam 2 and Jam 3 – located some 560 kilometers (350 miles) northeast of Yellowknife, Northwest Territories.

COPPER/ZINC – Commander Resources Ltd. May 26 reported that Aston Bay Holdings Ltd., which has optioned and is earning into Commander’s Storm copper and Seal zinc properties, has entered into discussions with a major mining company to form a joint venture in the properties. Aston Bay has announced that it is entering into a period of exclusivity until conclusion of a memorandum of understanding or June 30 (whichever is earlier), in which to define the terms of a JV agreement in exchange for the sum of C$50,000. Under the terms of the current agreement between Commander and Aston Bay, Aston Bay may earn a 50.1 percent interest in the properties by spending C$6 million in work, and may increase their interest to 70 percent by investing a further C$9 million and delivering an indicated resource on the property. After earning 70 percent, Aston Bay may elect to buy out Commander’s remaining 30 percent interest for the sum of C$15 million, or 20 percent of Aston Bay’s market cap, whichever is greater. Commander also holds a 0.875 percent gross over-riding royalty on production from the properties. Aston Bay may buy down the royalty to 0.4 percent for the sum of C$2 million in 2014, increasing by C$1 million each year thereafter. Commander is very encouraged at the progress that Aston Bay has achieved with this project since acquiring the option in 2011. The interest and potential involvement of a sophisticated major mining company validates the quality of the property and indicates the potential value that this property may bring to Commander’s shareholders. Commander is a Canada-focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. In addition to a portfolio of base and precious metal projects across Canada, Commander holds a significant equity positions in Maritime Resources Corp. (11.9 million shares) and Aston Bay Holdings (3.2 million shares).


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