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Charter Pacific Corporation Adds Team To Advise On Commercialisation Of Mauritanian Investments

Charter Pacific Corporation (ASX: CHF) has formed an Advisory Committee to advise the Board in matters relating to their areas of expertise and experience and assist with commercialisation of its Mauritanian investments.

The Committee's experience covers a broad range of activities including, resources sector joint venture, funding, capital raising, corporate advice, banking and finance with a regional focus in India, South Asia and Mauritania.

It will be led by Perth-based Ashley Zimpel, who has over 25 years of establishing and developing capital market, corporate finance and Public Company businesses.

He has held senior positions at Bankers Trust Australia Limited and Macquarie Bank Limited, Hattersley Maxwell Noall Stockbrokers in Sydney and was a founding partner and executive director of what is now RMB Australia Limited.

Zimpel has served as executive chairman of Marine Produce Australia (ASX:MPA) and is currently involved with private equity and corporate finance in the resources sector dealing with established and emerging ASX listed companies in Australia and International projects.

His expertise and experience will be invaluable in heading up the Company's capital raising efforts, working with stock brokers, institutions and high net worth investors in unlocking the value of the company's assets in Mauritania.

The other members of the Committee are Darshak Mehta and Abdel Kader Ould Saleh.

Mehta has over three decades experience in the Metals Industry both in Australia and India.

He was the youngest President of the Bombay Industries Association in 1986 (aged 29) and the youngest Member of the Managing Committee of the venerable, Indian Merchants Chamber.

In 1989, he established a cutting edge, high technology, cable-recycling plant in Sydney: Sanalco Pacific.

Mehta is currently a Director of Link Intime India Pvt Ltd.

Saleh is Charter's In Country manager and a geological engineer with over 40 years of experience in Mauritania.

He was heavily involved in the development of the Mauritanian Ministry of Oil, Energy and Mines, and was Director of the Mines and Geology for more than a decade.

He was administrator of the largest mining companies in Mauritania (iron, copper, gold etc.) and is an author of several publications on the geology and mines of his country.

Charter had last week launched an entitlement issue to raise about A$3,289,472 before costs to fund an exploration campaign focusing on a trenching and reverse circulation drilling at Permit 792 in Mauritania.

Mauritania assets

The Kaoua El Khadra Prospect, which has geological similarities with GlencoreXstrata / Sphere's Mauritania Lebtheinia iron ore deposit, has an Exploration Target of 4.4 billion tonnes of iron across a 130 kilometre strike length.

Recent trenching of the magnetite Banded Iron Formations has resulted in Davis Tube Recovery mass recoveries of up to 43.7% and concentrates of up to 69.76%.

It was also recently granted two gold exploration permits located within the Precambrian Reguibat Shield and the Mauritanides Belt, the most prospective areas for gold mineralisation in Mauritania.

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